Europe Plant Protein Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Source (Pea, Rapeseed, Soy, Hempseed, Others), By Form (Protein Concentrates, Protein Isolates, Protein Hydrolysate), By Application (Dietary Supplement, Food And Beverages, Pharmaceuticals, Animal Feed), And By Distribution Channel (Online, Offline), And By Country - Forecasts From 2022 To 2027

Europe Plant Protein Market is estimated to grow at a CAGR of 8.31% to reach a market size of US$4,950.771 million in 2027 from US$2,831.574 million in 2020.

The market for plant-based proteins in Europe is projected to grow rapidly during the forecast period because of a huge number of consumers who have developed a taste for plant-based alternatives to a few food and beverage products that we consume often. Except for those select few consumers who are value-driven individuals, consumers in general in Europe are indirectly driving the market for plant-based protein ingredients in the region. Being majorly a Business to Business (B2B) market the response from the end of the value chain users that has the potential to influence the food and beverage applications are aspects like Improvement of the nutritional value of the product: intake of amino acids, intake of fibres, low saturated fat content, improvement of the protein/fat ratio. Thus, the second market segment which is the users of plant-based protein ingredients is of paramount importance when it comes to directly boost the European plant protein market. In terms of application, the food and beverage sector, which includes but is not limited to bakery, meat, fish, and eggs, ready meals, cereals, and sports nutrition, has seen an increase in the number of products that contain protein-derived vegetables as an ingredient. Thereafter, baby food, ice creams, and functional beverages, along with opportunities, will witness the fastest growth.

The increasing demand for vegetarian and vegan products from traditional consumers as well as flexitarians is poised to drive the European plant protein market.

 Thus, to this extent, the French pea plant supplier Roquette Frères announced the launch of a new ingredient that is to be sold under its Nutralys pea protein range called L85M. This is in response to the concern about plant-based meat alternatives having high salt content which makes the end-use consumers take a high-sodium diet. Thus, the aforementioned product has been launched in cognizance of the health consciousness of the consumer which is also another factor that is pies indirectly driving the plant protein market of Europe to reduce the salt content of the plant-based meat alternative formulations. Moreover, given the opportunities that lie ahead in the plant-based protein market of Europe, certain non-plant-based protein players too are inclined to enter this market. To this extent, it may be noted that Kerry, the Taste & Nutrition company based out of Ireland announced its non-allergenic and organic plant protein capability by acquiring the Spanish company Pevesa Biotech, in February 2020. It also mentioned that the acquisition improved its leading position in the hydrolyzed plant protein space for specialized nutrition, and expands the company’s capacity to serve the rapidly growing, high-quality, organic plant protein market.

The growing investment in research and development to facilitate sustainable product innovation is further driving the market in Europe. 

In November 2019, Swiss food manufacturer Nestle and Dutch ingredient supplier Corbion entered into a strategic partnership to develop a microalgae-based ingredient for plant-based applications. Unlike many other plants derived proteins, proteins that are derived from microalgae have complete essential amino acids. Thus, improving the nutritional profile of the end product. The aforementioned is an exemplification of the growing interest in a plant-based alternative by food manufacturers, thus steering them to such strategic partnerships with plant-based protein producers to cater to the growing preference for plant-based alternatives among end consumers, as well.

Moreover, besides such partnerships, some collaborations are multi-stakeholder in nature, wherein small-and-medium-size enterprises (SMEs) and research institutions along with government participation. One such example is a public-private collaboration that has been aimed at developing a high protein, plant-based ingredient for food manufacturers that have received backing from the Danish government, whereby the research partners, the Technological Institute of Denmark and the University of Copenhagen, are collaborating on the project “Microalgae for Food” along with microalgae-based food ingredients company NatuRem Bioscience, membrane filtration firm Sani Membranes and Danish Brewery KUNSTBRYGGERIET FAR & SØN. The aforementioned stakeholders, which comprise small-and-medium-size enterprises (SMEs) and research institutions, will focus on Chlorella Vulgaris, which is a variety of microalgae with food robustness and high protein content.

Recent Developments

• Eat Just, Inc., a business that uses cutting-edge science and technology on a quest to provide healthier, more sustainable foods, declared in April 2022 that the European Commission has approved the main component in its well-known plant-based JUST Egg products. The approval of mung bean protein in 2022 made way for the company to enter the European market with the introduction of JUST Egg.
• The NUTRIS Group claims to have opened the first fava bean protein isolate facility in Europe in May 2022. The factory, which is situated in Novi Senkovac, Croatia, will also be able to make components based on potatoes. Together with SiccaDania of Denmark, NUTRIS has contributed €30 million to the new location. The facility's technology was created by the University of Copenhagen over ten years, and it has since been enhanced by the two businesses.
• The new NUTRALYS line of organic textured proteins made from peas and fava was introduced by Roquette, a leading provider of plant-based ingredients, for European markets in June 2022. With this launch, Roquette strengthens its position as a global leader for plant-based protein solutions and advances its mission to be the ideal partner for clients looking to create novel, mouthwatering plant-based foods.

COVID-19 Impact

Due to COVID-19, consumer preferences have changed in favour of a more nutrient-dense diet, a more sustainable way of life, and a decreased reliance on animal proteins. Furthermore, due to multiple health and environmental concerns, a large population increasingly prefers plant-based proteins over animal proteins as a result of COVID-19's interaction with animal sources. An international vegetarian organization called ProVeg 2021 claims that nearly half of European consumers have cut back on their meat consumption since 2020. Thus, these changing trends are indicating a growing market for plant protein in the forecast period.

Segmentation

• By Source
  • Pea
  • Rapeseed
  • Soy
  • Hempseed
  • Others
• By Form
  • Protein Concentrates
  • Protein Isolates
  • Protein Hydrolysate
• By Application
  • Dietary Supplement
  • Food and Beverages
  • Pharmaceuticals
  • Animal Feed
• By Distribution Channel
  • Online
  • Offline
• By Country
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Poland
  • The Netherlands
  • Sweden
  • Denmark
  • Others

ADM

Cargill

Corbion NV

Cosucra

DuPont de Nemours, Inc.

Ingredion

KMC

NOW® Foods

Organic Plant Protein

Roquette Frères