Denmark 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) - Forecasts From 2022 To 2027

Denmark Plant Protein Market is estimated to grow at a CAGR of 8.17% to reach a market size of US$65.217 million in 2027 from US$37.642 million in 2020.

The market for plant-based protein in Denmark is poised to grow for a myriad of reasons. Besides the interest of consumers, which is growing at a rapid pace, the eagerness to evaluate various options and invest in research and development to bring about viable sources of plant-based protein is poised to drive Denmark’s plant protein market. To this extent, it may be noted that researchers in Denmark are increasingly investigating options that can sustainably satiate the increased demand for everything plant-based and simultaneously emerge as a viable option to feed the growing population.

Growing partnerships in the country

 Furthermore, the objective that forms a part of this rationale is how to provide nourishment without putting stress on the environment. Thus, given the above, there has been a public-private collaboration that has been aimed at developing a high protein, plant-based ingredient for food manufacturers has 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 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. The Danish government announced in April 2022 that it will invest more than US$100 million into a new "Plantefonden" (or Plant Fund) to support climatically sustainable plant-based diets.

Supportive government initiatives

The other aspects that are poised to boost the plant-based protein market of Denmark to new echelons are government mechanisms and incentives that have been mobilized by the Danish government. To this end, the National Bioeconomy Panel, comprising leading firms and researchers as well as NGOs, various organizations, and government authorities, with the objective “to turn Denmark into a growth hub in the fields of knowledge, technology and production and to effectively promote the development of a sustainable Danish bioeconomy, the government has set up the National Bioeconomy Panel”. (Source: Ministry of Food, Agriculture, and Fisheries). This panel issued a report in which it stated, among other things, that Denmark imports approximately 1 million tonnes of protein for feed each year, with soy products accounting for 64% of total imports (Source: Ministry of Food, Agriculture, and Fisheries).  Which, the feed industry is the largest buyer of the total protein raw material base, especially when it comes to new protein sources. However, the relative niche nature of the plant protein market is keeping farmers from achieving a process that has a positive environmental and climate profile. This creates a potential for substantially increased production of protein in Denmark, while concurrently reducing the total environmental and climate impacts. The report also recognizes the need for plant-based protein is in demand from a growing group of consumers opting out of animal protein, in total or in part, as well for those individuals who have reduced appetite and require protein-enriched food.

Recent Developments

• Danish Crown introduced its first extensive line of plant-based food products in January 2022 under the Den Grnne Slagter brand, which is now sold in supermarkets throughout Denmark. The goods represent the beginning of the Danish Crown's efforts in the area of alternative proteins.
• Dutch ingredients company KMC developed textured potato protein in February 2022 for use in meat substitutes. According to the company, the protein is the first of its kind in the world. KMC initially developed potato protein as a powder, but the business soon found that its functional properties did not significantly differentiate it from already existing products. The company then came up with a process to transform the powdered into textured ingredients with high nutritional value, a structure similar to meat, and a fried crust.

COVID-19 Impact

All major companies in the market for plant-based proteins benefited from the significant increase in sales of plant-based products brought by COVID-19. As a result of the epidemic, people started to care more about their health and shifted more and more toward vegan and plant-based protein. According to the Smart Protein Project 2021, 24% of Danish customers identify as flexitarians and 9% eat only plants. Furthermore, customers in Denmark choose plant-based foods with potatoes, rice, and almond as the major ingredients: 30% prefer items with potatoes as the main ingredient, 29% prefer rice, and 27% prefer almonds. Hence, the overall plant-based protein market is expecting growth during 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