Spain’s plant-based retail market continues its upward trajectory. According to the latest report from the Good Food Institute Europe, based on data from Circana and NIQ, the sector reached a value of €491 million in 2024, spanning four key categories: plant-based meat, milk and drinks, cheese, and yoghurt. This represents a 6.6% increase compared to 2023 and 14.4% growth since 2022.

Sales volumes also saw a strong rise, with a 9.8% increase year-on-year, reaching 286 million kg – reinforcing the idea that growth is being driven by a rise in consumer demand.

From the maturity of plant-based milk to the growth of cheese

Plant-based milks and drinks continue to lead the market, accounting for 66% of the total sector value. In 2024, sales volume grew by 9.5%, largely driven by the rise of private-label products, which have significantly narrowed the price gap with conventional dairy – now at just 24%. With more affordable options becoming available, nearly 10% of all milk sold in Spain was plant-based in 2024.

In contrast, plant-based meat, which represents 14% of the market, still faces major challenges, and saw stable sales volume in 2024. High prices are a major barrier to growth, especially in the context of economic pressure, as its average price per kg remains 114% higher than animal meat. This cost premium is influenced by small volumes, limited access to infrastructure and immature supply chains, areas where government and industry investment will be crucial to overcome bottlenecks.  

Plant-based yoghurts, however, are showing strong momentum. Between 2023 and 2024, their sales value increased by 21.2%, and volume by 16.7%, reaching a total of €93.2 million. Growth in this category has been driven by more expensive branded products, which suggests existing consumers are prioritising taste and perceived quality over price. But to reach a wider audience, producers and retailers must bring prices down without compromising on quality.

A similar dynamic is driving sales of plant-based cheese, which remains an emerging category but is expanding at a sustained pace. From 2022 to 2024, sales value grew by 44.2%, while units sold increased by 30.1% and volume by 23.6%.

Who is buying plant-based?

According to NIQ data, household penetration of plant-based products in Spain continues to grow. In 2024, 46.4% of households purchased plant-based milks or drinks at least once, compared to 42.1% in 2022 – demonstrating the mainstream status of this category. For plant-based meat, more than 20% of households made a purchase, a figure that has remained stable in recent years.

Carlos Campillos Martínez, Public Affairs Manager for Spain at the Good Food Institute Europe said: “The plant-based sector in Spain continues to grow steadily, particularly in the plant-based milk and drink category. However, high prices remain a barrier for many consumers.

“To support the shift towards healthier, more sustainable diets, it’s crucial that both national and regional governments invest in innovation, production scale-up, and the removal of barriers. Strategic support would give more people access to the plant-based foods they are demanding – benefiting consumers, the economy, and the planet,” Campillos added.

While Spain’s plant-based market continues to grow, the rise of private labels – up 32.3% in volume between 2022 and 2024 – suggests that consumers are prioritising affordability alongside taste and nutrition. According to GFI Europe, boosting production efficiency is crucial to making plant-based options more accessible. Retailers, producers, and policymakers all have a role to play, whether through scaling up, improving infrastructure, or supporting wider adoption, to drive not only food innovation but also progress in sustainability, food security, and public health.