Sweden plant protein market is projected to grow at a CAGR of 5.55% during the forecast period. The growing number of lactose-intolerant consumers, combined with the increasing diversification of dietary preferences that are being facilitated by the awareness of health benefits of a vegan diet is estimated to boost the plant-based alternative segment that in turn wis fueling Sweden 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 acidifications 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 beverage. 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 among others like a variety of proteins derived from plants.
The competitive strategies adopted by key players in order to improve their revene generation opportunity is further expected to drive the maket 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 were launched across both retail and foodservice channels in 2018. It is the first innovation that brought the first texturized pea-protein in the Nordics market. Later in March 2019, Nomad Foods Limited (NYSE: NOMD) announced today the launch of Green Cuisine, a new range of meat-free products under the Birds Eye brand in the United Kingdom. Birds Eye is leveraging its heritage in peas and its market-leading position in frozen food to help accelerate the expanding market of meat-free products.
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 in the plant-based protein space. Further due to a myriad of sources from which plant protein can be derived is further allowing more space for players to make investments in the plethora of applications that plant-based proteins could be utilized.