The France plant protein market is projected to grow at a CAGR of 6.26%, from US$276.426 million in 2020 to US$422.759 million in 2027.
Plant protein is one of the prominent sources of protein that is increasingly finding its application in a variety of fields. One of the prime drivers of this market is the increasing adoption of a vegan lifestyle and vegetarian dietary patterns. Moreover, the health-conscious individuals of today’s world ensure to spend a good amount of time in fitness centres. Thus, arises the requirement to include dietary supplements as part of their dietary regimes, which make use of a substantial amount of plant protein. Another factor is the increasing tendency of consumers to be allergic to gluten. Due to allergic reactions, the sub-segment of food and beverage, especially bakery and confectionary, use it as an ingredient in a plethora of products that are produced every day.
Increased demand in the F&B sector will aid market expansion during the forecast period
Thus, this demand enables ample opportunities for players in the plant-based protein market, to innovate and add new products to their portfolios. PlantFusion™ Complete Protein Ready-to-Drink is a North American product that sources its yellow peas, which is an important ingredient of the product, from the northern hills of France. The significance of dairy alternatives and plant-based meat alternatives is also increasingly becoming one of the most celebrated ways of consuming plant protein in current times. With the objective of expanding the capabilities of pea protein capacity, France-based Roquette Frères acquired Texpall’s extrusion unit in the Netherlands, in October 2018. Again, the same organization solidified its partnership with Beyond Meat a company that provides meat substitutes. Pea protein is one of the main ingredients of Beyond Burger, a flagship product of Beyond Meat. This strengthened partnership will help to solidify its plant protein supply chain as global demand for its vegan products grows.
The rationale for plant-based protein consumption primarily lies in health consciousness due to the adverse effects of the industrialization of meat production that has witnessed an increased use of chemicals.
This is despite the fact that France as a country is renowned for having cheese as a part of its daily diet, along with the consumption of meat, which has been prevalent since the dawn of the cultural renaissance. This has resulted in the relatively slow adoption of vegan food. Nonetheless, as people become more aware of the environmental consequences of animal husbandry, such as eutrophication, solid acidification, and greenhouse gas (GHG) emissions, there is a growing consensus among French consumers to get their protein from vegetables rather than meat. Recognizing this consumer realization, the French agricultural cooperative Limagrain, which represents over 1,500 farmers in central France and is the majority shareholder of seed maker Vilmorin, announced in January 2020 that it was launching a new legume business with the intention of delivering plant-based food products the following year. This move will help the company to solidify its standing in the upward trend of eating less meat in France. The cooperative also stated that it could partner with start-ups or mid-range actors in the sector, providing even more opportunities for other players to bring about more products. It plans to start its operation along these lines with a wide range of plants, including peas, beans, and chickpeas.
Key Developments in the market
COVID-19 Insights
COVID-19 had a positive impact on the France plant proteins market. Amid the surging active cases, the demand for a well-balanced and nutritional diet increased among consumers to boost their immunity. Amino-acid-rich plant-based proteins and food witnessed growth in demand. The closure of meat production facilities across Europe and the high shell-life of the plant-based proteins further added impetus to the market growth.
Segmentation