The Europe Pea Protein Market was worth US$ xx million in 2022, and it is estimated that it will reach a valuation of US$ xx million by 2028 with a notable annual expansion rate between 2023 and 2028.
Pea protein is one of these innovations introduced in the plant-based protein category to meet the growing niche demand in the health enthusiast consumer base. Pea protein products can replace most other proteins in a wide range of foods without affecting the color, taste or texture of the product and, in some cases, can provide potential cost savings. This is a common problem with other protein powders. Pea protein is preferred over other possible options because it is gluten-free and dairy-free. Pea protein is useful for various medical applications, such as promoting metabolism, controlling weight, maintaining muscle health, regulating blood sugar, improving blood circulation, and calcium absorption. As a result, it is increasingly recognized as an important alternative to other available forms of protein.
The rising trend of convenience food spending in developing countries and the multi-functional nature of pea protein are key factors expected to drive Europe market growth during the forecast period.
The growing preference for vegetarian food is expected to be one of the main drivers of the Europe pea protein market. As awareness of fortified nutrition increases, dietary supplements are expected to increase in importance and have a positive impact on the market. With the preference for vegan diets in developed countries like the European Union, the market for pea protein, along with other plant proteins, is increasing as an alternative source of protein. The Europe pea protein market is also expected to grow in the future as health and wellness concerns rise. The rising call for meat substitutes, growth in lactose intolerance cases, and increased need for gluten-free products are supposed to accelerate the market for pea proteins in Europe. In addition, the huge investment in development research by pea protein manufacturing companies is expected to play an important role in the growth of the pea protein market. Pea protein is used to make high quality and easily digestible meat substitutes due to its neutral taste and combined tissue properties. The growing awareness of the benefits of natural ingredients will increase the demand for products in the food and beverage industry for vegan alternatives. Along with changing lifestyle trends, the rapid movement of consumers towards healthy preparations has led manufacturers to opt for affordable vegetarian ingredients. Industry players are rapidly adopting pea protein in confectionery and confectionery manufacturing such as chocolate, candy, and energy bars. With the increasing adoption of high-quality, easily digestible separatists, the rapid transition of the fitness industry to vegetarian alternatives will improve the prospects of the Europe market.
Additionally, the rapid transition to plant-based alternatives and the rapid adoption of prominent celebrities are attracting a younger population which may fuel the growth of the pea protein industry. Besides, awareness of the side effects associated with foods containing gluten and lactose will play an important role in increasing demand for products. As concerns mount about cardiovascular disease associated with red meat consumption, the growing importance of a liquor diet among the majority of the European population is expected to continue to be a favorable factor driving market growth. Growing concern about dairy and meat allergies is expected to increase demand for protein-fortified foods in the near future. With the increasing importance of protein consumption for vegetarians, the demand for pea protein powder is expected to increase. Global extrusion and processing and technological advancements in emerging markets are expected to provide opportunities for the European pea protein market in the near future. Additionally, the rich concentrations of branched-chain amino acids, protein, and vitamins support a balanced daily diet with the potential to drive market demand for pea protein in Europe.
Low consumer perception of pea protein products is having a major impact on European market growth. The market penetration of animal protein and other vegetable proteins such as rice, wheat, soybeans, etc., somewhat hinders the growth of this market. The formulation problems of pea protein products are also a major factor impeding the growth of the Europe pea protein market.
Pea proteas maker Beyond Meat and Impossible Foods saw sales spike during the coronavirus pandemic due to a shortage of beef and pork. Medical studies show that coronavirus disease overwhelmingly affects people with underlying health conditions, such as diabetes, high blood pressure, and heart disease. Alternative protein-based diets are rich in macronutrients, micronutrients, and antioxidants, so they can help reduce the effects of the virus in people at risk. Therefore, the growth of the pea protein market increases.
The Europe Pea protein market is segmented by type and application.
By type, in terms of value 2019, Pea protein isolates have a growing number of applications, such as high-performance nutrition products, confectionery, cereals, plant-based dairy and plant-based meat products. Pea Protein Isolate is a high-quality protein rich alternative for vegetarians, vegetarians, lactose intolerant consumers and people looking for a nutritious protein alternative.
The applications covered by the pea protein market are snacks & bakery products, meat extenders, meat substitute, food & beverages.
Geographically the Europe Pea Protein Market is segmented into UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe. Europe was the second-largest consumer in 2019. Along with growing concerns about lactose intolerance, consumer preferences for plant products are expected to drive the local market. The French market for pea protein is registering an average annual growth rate of 8.1%. The growing preference for healthy foods is a major factor driving the French pea protein market. The decline in animal protein consumption due to various intolerances is also a factor driving the growth of the pea protein market in Europe. There is considerable government support for the production and consumption of plant proteins such as soybeans. Because it requires fewer natural resources for the same level of protein. Pea protein is the most requested pea protein in France. Growing demand for non-allergenic, gluten-free and lactose-free protein ingredients in Europe and in food. In addition, its proven nutritional properties and its greater western influence have made it more popular among the populations of Eastern European countries.
Key Players in the Market:
Major Key Players in the Europe Pea Protein Market are
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