Europe Plant Protein Market - Forecast(2023 - 2028)

Europe Plant Protein Market size is $2,248 Million in 2019, growing at a CAGR of 5.4% during the forecast period 2020-2025. The plant-based protein is derived and used as an alternative to animal and milk proteins from plant sources. They come from different plants such as sunflower, Soybeans, peas, rice, and others. Plant-based proteins, which also contain various nutrients such as fibre, vitamins, minerals, and antioxidants, are considered a great source of protein. This drives its use as a raw material for food, beverages and other applications to make different protein based products. Most meat consumers are inclined towards meat alternatives made from vegan protein, which eventually drives the demand for plant protein, owing to animal protein allergies.

The report: “Europe Plant Protein Market – Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Europe Plant Protein Market. 

By Type: Soy Protein – Isolates, Concentrates, Flours and Others, Hemp Protein - 70%-80% and 35%-40%, Chick Pea Protein – Isolates, Concentrates and Flours, Pumpkin Seed Protein – Isolates, Concentrates and Flours, Sunflower Protein – Isolates, Concentrates and Textured, Mung Beans Protein – Isolates and Concentrates, Pea Protein - 10%-20% and 70%-80%, Rice Protein – Isolates, Concentrates and Textured, Fava Bean Protein – Isolates, Concentrates, Textured and Others.

By Application: Food and Beverage - Functional Foods, Baby Foods, Dairy Substitutes, Meat Substitutes, Bakery, Beverages, Confectionery and Others, Nutritional and Health Supplements and Others.

By Country: U.K., Germany, France, Italy, Portugal, Spain, Poland, Russia, Turkey, Denmark, Norway, Sweden, Romania, Bulgaria and Rest of Europe.

In 2019, Soy Protein segment dominated the Europe Plant Protein Market in terms of revenue is estimated to grow at a CAGR of 5.4%. Soy Protein is used as an animal protein supplement in an individual diet owing to its low cholesterol and low saturated fat. In addition, soy is known to be a good source of protein, which, like most legumes, is an important component of the diet required for tissue growth and repair, and the nutritional value of soy protein relates to its intake of amino acids, soy bean protein, and is considered to be of high quality. Increased soy protein consumption reduces cancer risk, which is another factor contributing to the growth of the segment. For instance, genistein, one of the phytochemicals found in soybeans, blocks the growth of cancer by preventing tumors from forming blood vessels that provide growth nourishment abetting towards the growth of the market.

In 2019, the Germany dominated Europe Plant Protein Market in terms of revenue with a market share of $509.66m owing towards the presence of favorable government regulations in the country is estimated to enhance the growth. For instance, the German government has invested $780,000 in a research project aimed at making the texture of vegan meat more “realistic” with soy and pea protein. The growing demand for vegan diets , especially among the young and middle-aged population, the rapid shift in lifestyles and the subsequent dietary habits, and the increasingly rising demand for ready-to-eat items aids to the market’s growth. Government has taken initiatives to promote technological advancements and initiatives to escalate the product development process are key factors in the growth of the Europe Plant Protein market. U.K. is expected to record the fastest growth rate during the forecast period 2020-2025. 

The rising movement towards a vegan diet is increasing the growth of the European Plant Protein Market attributed to the growing inclination for a healthier lifestyle, the growth of government initiatives, and the introduction to the mainstream of plant-based menu options by major food players. Diet-related diseases such as obesity, type 2 diabetes, heart disease, and certain cancers may result from excessive consumption of animal-based meat. Plant proteins are found in plant foods, and dietary fibres, vitamins, minerals, and phytochemicals are linked to the positive health benefits of plant foods also increases the growth of the European Market for Plant Proteins.

Plant Protein has a strong nutrient content profile including, vitamins, minerals, and proteins; however, antinutritional components present in plant protein could cause allergies. According to the Cleveland Clinic, soy is one of the big eight allergens, along with cow’s milk, eggs, peanuts, tree nuts, wheat, fish, and shellfish, responsible for 90% of all food allergies is restraining the growth of the market. 

Product Launches, Merger & Acquisition, joint ventures, and R&D activities are key strategies adopted by the players in the Europe Plant Protein Industry. Europe Plant Protein top 10 companies include DSM Corporation, Archer Daniels Midland Company, DuPont de Nemours Inc., Kerry Group, Cargill Corporation, Glanbia PLC, Prinova Group LLC, Emsland Group, Roquette Freres and Ingredion Incorporated.