Europe Pea Proteins Market Share was valued at above USD 35 million in 2019 and industry is expected to witness substantial gains at over 9.5% by 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. Thus, it increases pea protein products demand in the food and beverage sectors.
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.
Based on product the market is divided into isolate, concentrates, and textured segments. The isolate pea protein segment registered the highest CAGR over 10.5% 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. Thus, these factors will be fueling the market growth for the European pea protein market.
Based on application, the market is segmented into meat substitutes, nutraceuticals, and sports supplements. The meat substitutes segment dominates the European pea proteins value 47.5 million 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. increasing awareness towards lactose intolerance levels is one of the key factors to foster the pea protein market in this region.
Europe pea proteins market share is competitive with key players including 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.