Europe Plant Protein Market 2021-2027: Growing Demand for Alternative Proteins and Non-Animal Based Food Products is Increasing Millennials and Gen Z Population

Dublin, April 29, 2021 (GLOBE NEWSWIRE) -- The "Europe Plant Protein Business and Investment Opportunities (2018-2027) - Market Size and Forecast Across 50+ Segments - by Product Categories, Ingredients, Distribution Channels, Functional Type, Price Point, and Consumer Demographics" report has been added to ResearchAndMarkets.com's offering.

The European plant protein market has recorded rapid growth in the past few years owing to increasing consumer interest in alternative proteins, and non-animal-based food products. The UK is the largest market for plant-based proteins in Europe. The demand for plant-based foods and supplements is increasing particularly, among millennials and the Gen Z population. This is primarily due to plant-based proteins emerging as the best alternative to animal protein that can offer all necessary amino acids.

The vegan population is rising in the region which is further supporting market growth. Germany has emerged as the leading force in Europe in the vegan-revolution. The country has one of the highest rates of vegans as compared to any other European country. As per a survey conducted by Veganz, vegan food producer, Germany's vegan population doubled from 1.3 million in 2016 to 2.6 million in 2020, accounting for 3.2% of the population .

Among the other factors that are promoting the growth of the plant protein market is the rising health and environmental concerns. Russia is the world's fourth-largest polluter, contributing as much as 1.8 gigatons of carbon dioxide annually. According to the Food and Agriculture Organization of the United Nations (FAO), livestock accounts for 14.5% of annual greenhouse gas (GHG) emissions produced by human activity across the world.

Alternative plant-based meats are gaining market space. In the UK, in particular, consumers have reduced their meat consumption to support plant-based alternatives. The demand for plant-based meat and meat products in the country is increasing at a high rate. The rising trend is helping plant-based food processors to focus on mimicking the texture by using ingredients such as methylcellulose, carrageenan, and xanthan gum. Similarly, these companies are also trying to find new ingredients that can provide authentic meaty taste such as jackfruit, pea, and leghemoglobin (heme protein extracted from soybeans).

Innovation in the alternate protein sector is likely to accelerate the disruption in the plant protein ingredients space. Food manufacturers are developing new and reformulated products to drive more consumer interest in the rapidly expanding industry. However, with traditional meat producers and retailers joining vegetarian focused companies in producing plant-based products, the pace of innovation in the ingredients sector is set to further accelerate in the region.

Pea protein is one of the key ingredients in the plant protein market in Europe. As one of the best alternatives, pea protein is gaining market share due to its sustainability, nutrition, and functionalities. Moreover, pea protein is gaining popularity as a replacement for other plant-based proteins such as soy protein, due to its higher levels of amino acid content.

This report offers a detailed view of market opportunity by end user segments, product categories, ingredients, applications, key cities, competing protein segments, price point, and shift in consumption by consumer demographics.

• Plant Protein Consumption by Ingredients: Provides a detailed view of opportunities across key plant protein ingredients (Soy, Pea, Beans & Lentils, Hemp, Flaxseed, Pumpkin & Other Seeds, Brown Rice, Quinoa, Spirulina & Seaweed, and Nuts).

• Plant Protein Consumption by Functional Product Type: Plant protein consumption breakdown by 4 segments - Ready to Eat, Ready to Drink, Ready to Mix, and Ready to Cook.

• Plant Protein Consumption by Product Categories: Detailed market size and forecast by eight product categories - Nutrition Supplements, Protein Bars, Sports Nutrition, Meal Alternative, Dairy Alternatives, Meat Alternatives, Bakery Products, and Infant Formulas.

• Plant Protein Sales by Channel: Sales breakdown by online vs. offline channels.

• Plant Protein Sales by Retail Outlet: Sales breakdown by retail outlets grouped by four categories - Diversified Stores, Pharmaceutical & Wellness Stores, Healthcare and Fitness Centers, and Specialist Sports Stores.

• Changing Consumer Preferences: Quantified details on changing consumer preferences along with forecast.

• Plant Protein Consumption by Price Points: Plant protein demand analysis by price points - Premium, Mid-Tier, and Low End.

• Plant Protein Consumption by Cities: Plant protein demand analysis by key cities grouped under three segments - Tier 1, Tier 2, and Tier 3.

• Plant Protein Consumption by Consumer Demographics: Plant protein demand/consumption analysis by age, gender, and income levels.

For more information about this report visit https://www.researchandmarkets.com/r/s2axso

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