Europe plant protein market projected to nearly reach US$10bn by 2027

EUROPE – The Europe plant protein market was valued at US$5.808 billion in 2018 and is expected to grow at a CAGR of 5.9% during the forecast period 2019 – 2027, to account to US$9.452 billion by 2027, according to a recent report by ReportLinker.

Plant protein is a natural protein derived from plant sources such as soy, wheat, pea, and others. Like animal proteins, plant proteins provide building blocks for healthy muscles and tissues in the human body and are also beneficial for weight loss.

However, plant-based proteins tend to be lower in calories and fat as compared to animal proteins but higher in fiber and essential nutrients.

The research and analytics company highlights the emerging shift toward vegan and vegetarian diets and the scaling demand for clean label products as the two major trends shaping the plant protein market future in this region.

Among other factors, the growing demand for sustainable and straightforward ingredients has been noted as a major driver for the clean label.

Such evolving lifestyle trends in the food & beverages industry are also anticipated to remarkably influence the purchasing decision of the consumers.

ReportLinker says that manufacturers of food and beverages in this region are adapting their offerings in accordance with prolonging sophistication in consumer preferences and facilitate supplements that would appeal to the expectations of consumers.

While the Europe plant protein market is segmented on the basis of source as soy, wheat, pea, and others, the soy segment held the largest share of the Europe plant protein market in 2018, according to data from the research.

This was owed to soy’s dense nutritional profile as it serves as a prominent source of important nutrients such as fibers, vitamins, and minerals, antioxidants and phytochemicals, including phenolic acids, isoflavones, as well as omega-3 fatty acids.

In addition, soy proteins are often serve as a suitable substitute for vegetarians and vegans as well as those who avoid or are allergic to dairy food.

Market size by application

Soy protein products find vast applications in the food and beverage industry.

These include in salad dressings, soups, beverage powders, meat analogs, cheeses, nondairy creamers, whipped toppings, frozen desserts, infant formulas, breads, breakfast cereals, pastas, and pet foods, among others.

Based on application, the Europe plant protein market is segmented as protein beverages, dairy alternatives, meat alternatives and meat extenders, protein bars, bakery and other applications.

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According to the report, the growing demand for functional food and beverages is significantly propelling the demand for plant protein in the food & beverages industry in the market.

Moreover, the increasing preference for natural ingredients in the functional food & beverages industry is projected to propel the demand for plant proteins over the forecast period.

Additionally, the increased use of plant proteins in health supplements and sports nutrition such as in protein bars and shakes are also expected to boost the demand for plant protein products.

Protein beverages, dairy alternatives, meat alternatives and meat extenders, protein bars and bakery are seen as the major segments dominating the Europe plant protein market.

According to the report, the meat alternatives and meat extenders application segment accounted for considerable share of the Europe plant proteins market in 2018.

Going forward, the protein beverages segment is expected to register an exceptional growth during the forecast period.

Germany was cited as the country with the largest share in the Europe plant protein market but slightly below the rest of the region combined excluding France, Italy, United Kingdom, Russia.

Some of the players present in Europe plant protein market are ADM Axiom Foods, Cargill, E. I. Du Pont De Nemours and Company, Glanbia, Ingredion, Kerry Group, Koninklijke, Roquette Frères and DSM.

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