Sweden 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

  • Published : Aug 2022
  • Report Code : KSI061613335
  • Pages : 90

The Sweden plant protein market is estimated to grow at a CAGR of 8.43% to reach a market size of US$133.910 million in 2027 from US$76.010 million in 2020.

 The growing number of lactose-intolerant consumers, combined with the diversification of dietary preferences facilitated by increased awareness of the health benefits of a vegan diet, is expected to boost the plant-based alternative segment, thereby fueling the Swedish plant protein market. Furthermore, due to the rising perception of the environmental implications associated with traditional milk production, particularly that of greenhouse-gas emissions and other ramifications like soil acidification, is projected to emerge as one of the key contributors towards bolstering the plant protein segment due to incremental demand for plant-based food and beverages. Furthermore, the increasing awareness of various international culinary preparations has also led consumers to be influenced by innovations like that of plant-based meat alternatives that comprise ingredients like a variety of proteins derived from plants.

The competitive strategies adopted by key players to improve their revenue generation opportunities are further expected to drive the market in Sweden.

For example, Pease, a range of pea-protein products sold under the Findus brand of Nomad foods in Sweden, Norway, Finland, and Denmark, was launched across both retail and foodservice channels in 2018. It is the first innovation that brought the first texturized pea-protein to the Nordic market. Later in March 2019, Nomad Foods Limited announced the establishment of Green Cuisine, a new line of food without meat sold in the UK under the Birds Eye brand. To help speed the growth of the meat-free product sector, Birds Eye is utilizing its history with peas and its dominant position in the frozen food industry.  With a growing trend away from the traditional sources of protein, plant proteins have become an incredibly popular source of protein. As a result, different businesses in the food and beverage industry are selling their goods while also attempting to connect with the values of today's value-driven consumers, who are becoming more prevalent.

Plant proteins have emerged as an extremely popular source of protein that is increasingly being marked by a shift from the traditional sources of protein.

Thus, various players in the food and beverage segment are marketing their products and simultaneously endeavoring to resonate with the ethos of the current value-driven consumers who are increasingly taking up the market share and creating more opportunities for both legacy companies and startups to venture into the plant-based protein space. Further, due to a myriad of sources from which plant protein can be derived, allowing more space for players to make investments in the plethora of applications that plant-based proteins could be utilized.

Recent Developments

  • The Nordic region's greatest investment in alternative protein was made by the Swedish company Mycorena in its €24 million Series A funding round, which was successful, according to a March 2022 press release. A patentable plant protein invention shall benefit from the rise as it moves from the conception phase to the point of commercial distribution.
  • In November 2021, Ahlströms, a company owned by Greenfood, launched a line of plant-based alternatives under the brand Ahlgood. The products are produced in Sweden using organic, KRAV-labeled, conventionally grown veggies. Some examples include lentil snacks, organic legume mince, and falafel with quinoa and gray peas.

COVID-19 Impact

The market has benefited from the COVID-19 epidemic because the country's demand for home cooking has surged as a result of the lockdowns. In addition, people's concerns for their health and wellbeing have increased since the outbreak. Axfood, a Swedish retail company, published a report in which it found that 33% of Swedes chose to eat vegetarian meals two to six times per week and that 22% of them plan to eat less meat in 2020. The market for plant-based protein in Sweden has thus been stimulated by the huge rise in vegan food product demand over the past few years.

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

1. Introduction
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2. Research Methodology
2.1. Research Data
2.2. Assumptions

3. Executive Summary
3.1. Research Highlights

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. Sweden Plant Protein Market, By Source
5.1. Introduction
5.2. Pea
5.3. Rapeseed
5.4. Soy
5.5. Hempseed
5.6. Others

6. Sweden Plant Protein Market, By Form
6.1. Introduction
6.2. Protein Concentrates
6.3. Protein Isolates
6.4. Protein Hydrolysate

7. Sweden Plant Protein Market, By Application
7.1. Introduction
7.2. Dietary Supplements
7.3. Food and Beverages
7.4. Pharmaceuticals
7.5. Animal Feed

8. Sweden Plant Protein Market, By Distribution Channel
8.1. Introduction
8.2. Online
8.3. Offline

9. Competitive Intelligence
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix

10. Company Profiles
10.1. ADM
10.2. Cargill
10.3. Corbion NV
10.4. Cosucra Groupe Warcoing S.A.
10.5. DuPont de Nemours, Inc.
10.6. Ingredion Incorporated

ADM

Cargill

Corbion NV

Cosucra Groupe Warcoing S.A.

DuPont de Nemours, Inc.

Ingredion Incorporated

NOW® Foods

Roquette Frères

Tate & Lyle