Europe plant protein market is estimated to grow to a market size of US$3,915.915 million in 2025. The market for the plant-based protein 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 of a few food and beverage products that we often. Except for those a select few consumers who are value-driven individuals, consumers in general in Europe are indirectly driving the market for plant-based protein ingredients market of 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 fibers, low saturated fat content, improvement of the ratio protein/fat. Thus, the second market segment that is the users of the plant-based protein ingredients is of paramount importance when it comes to directly boost the European plant protein market. Application wise with the food and beverage sector that is inclusive of but not limited to the bakery, meat, fish & eggs, ready meals, cereals, and sports nutrition has witnessed a greater number of products that have protein derived vegetables as an ingredient. Thereafter, baby food, ice-creams, and functional beverages along with opportunity will witness the fastest growth.
The increasing demand for vegetarian and vegan products from traditional consumers and 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 of having high salt content which makes the end-use consumers take a high sodium diet. Thus, the aforementioned product has been launched in cognizance with the health consciousness of the consumer that is also another factor that is pies indirectly drive the plant protein market of Europe with the objective 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, February 2020. It also mentioned that the acquisition improved its leading stand 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. To this end, in November 2019, Swiss food manufacturer Nestle and Dutch ingredient supplier Corbion had entered into a strategic partnership to developpe 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 on 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 plant-based alternative of the 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 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 aforementioned stakeholders that comprise of 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.