Europe Pea Protein Market size crossed USD 35 million in 2019 and is expected to observe around 9.5% growth rate between 2020 and 2026.
Pea protein is a high-quality protein extracted from yellow peas. It contains low saturated fats which makes it an excellent source of lean protein. Also, it is a great source of iron, which promotes muscle growth, weight loss management, and improves heart health. Pea protein reduces excessive cholesterol in cells and the body's production of fats. It is predominantly used in smoothies & shakes to increase the protein content as its naturally vegan and hypoallergenic characteristics.
Changing consumer's preference towards plant-based protein and increasing vegan diet trends in the market augment the market growth. Increasing health and wellness concerns among consumers, as pea proteins comprise nutritional values such as proteins and nine essential amino acids which improve health growth. Also, pea protein includes carbohydrates which can support anti-inflammatory gut bacteria, this is likely to drive the overall pea protein market in Europe.
The isolate pea protein segment will witness over 10.5% CAGR during the forecast period. Owing to, isolate pea protein has several applications in food formulations, beverages, sports supplements, and nutritional diet. Isolate pea proteins include a high nutritional profile such as extracted from natural sources, zero fat, and low sugar content which helps to build and repair muscle and supports health fitness. This has resulted, pea protein manufacturing companies, choosing to develop their product portfolio.
The meat substitutes segment dominated over USD 47.5 million revenue in 2019. An exponential surge in the demand for high-quality vegetarian nutrition alternatives is likely to boost product demand. Plant-based meat is rich in proteins, amino acids, and fibers and low in saturated fats, which are easily digestible and consumable. This leads to fuel the meat substitutes product demand. Furthermore, rising awareness about the red meat diet and its side effects is another key factor for the market. Additionally, the adoption of a healthy diet pattern trend among consumers is positively affected by market growth. Pea protein is widely used to produce red meat substitutes for pizza, burgers, patties. Furthermore, manufacturing companies are rapidly increasing investment in research & marketing to capitalize on the emerging vegetarian trends in the market sphere, which is likely to trigger product demand, which may fuel the product demand.
European market segmented by countries into Germany, UK, France, Italy, Russia, and Poland. Significant rise in clean label products, change in consumer preference for natural ingredients and organic variants of food beverages is likely to drive the Europe pea protein market size. Increasing awareness towards lactose intolerance levels is one of the key factors to foster the market growth.
Prominent participants operating across the Europe pea protein market includes A&B Ingredients, Roquette Freres, Axioms Food Inc., Shandong Jianyuan Foods Co. Ltd, Nutri-Pea limited, AGT Foods, Kerry Inc, ET-chem, Batory Foods, Tai Shuang Ta Food Co, Farbest Brands and The Scoular Company. Manufacturers are majorly focussing on strategic acquisitions; new product launches as well as collaborations to gain competitive advantage.