NEWARK, Del, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Pea protein is poised for substantial growth in Western Europe, with an estimated compound annual growth rate (CAGR) of 10.4% expected to propel sales to a projected value of US$ 2,956 million by 2033, according to Future Market Insights, Inc.
Key Trends Impacting Sales of Pea Protein in Countries of Western Europe:
Rising Health Consciousness: Western European consumers are becoming more health-conscious, leading to an increased preference for plant-based and allergen-free protein sources. Pea protein's clean label, nutritional benefits, and ease of digestion make it an attractive choice for health-conscious individuals.
Environmental Sustainability: Concerns about the environmental impact of animal agriculture have led to a growing interest in plant-based proteins. Pea protein, which has a smaller ecological footprint compared to animal-based proteins, aligns well with the region's commitment to sustainability.
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Meat Substitution: With the rise of flexitarian and vegetarian diets, pea protein has become a preferred choice for meat substitutes. Its versatile nature and ability to mimic the texture and taste of meat make it a popular ingredient in plant-based burgers, sausages, and other meat analogs.
Clean Label and Allergen-Free: Consumers are seeking clean label products, and pea protein fits the bill as it is free from common allergens like soy and wheat. The absence of allergens makes it suitable for those with dietary restrictions or allergies.
Key Players' Appetite for Innovation Driving Sales of Pea Protein:
Key players in the Western European pea protein Industry are actively engaged in innovative product development to meet the growing demand for versatile and sustainable protein sources. This innovation is driven by the understanding that consumers are increasingly looking for options that not only taste great but also align with their values. Several key players are investing in research and development, focusing on improving the taste, texture, and functionality of pea protein in various food and beverage applications.
Nandini Roy Choudhury (client Partner for Food and Beverages at Future Market Insights, Inc.), stated, "The Western European Industry for pea protein is undergoing a significant transformation, driven by changing consumer preferences and the commitment to environmental sustainability. Key players are investing in research and development to enhance the sensory attributes of pea protein products, making them more appealing to consumers. This commitment to innovation is crucial in meeting the rising demand for plant-based protein sources."
New Developments Enhancing the Scope of Pea Protein in Western Europe:
Expanded Product Range: Leading pea protein manufacturers are diversifying their product portfolios to cater to various food and beverage applications. This includes the development of pea protein isolates, concentrates, and textured proteins to meet specific market demands.
Clean-Label Formulations: Key players are formulating clean-label pea protein products, addressing consumer concerns about additives and artificial ingredients. Clean-label options resonate with consumers seeking natural and transparent food choices.
Improved Taste and Texture: Innovations in taste and texture are a major focus for manufacturers. Advances in processing technology have allowed for the development of pea protein products that closely mimic the sensory attributes of animal-based proteins, making them more palatable to a broader consumer base.
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Some of the Key Players Offering Pea Protein in Western Europe:
Roquette Freres S.A. - A global leader in plant-based ingredients, Roquette offers a wide range of pea protein products catering to the diverse needs of the food industry.
A&B Ingredients - Known for their innovative approach to food ingredients, A&B Ingredients provides pea protein solutions for various applications.
Cosucra Groupe Warcoing SA - Cosucra is renowned for its high-quality pea ingredients, including pea protein isolates and concentrates, serving the European market with sustainable options.
Emsland Group - Emsland Group specializes in potato and pea-based ingredients and is a prominent player in the European pea protein Industry.
In conclusion, the Western European pea protein Industry is undergoing a significant transformation, driven by key consumer trends and the commitment to sustainability. Key players are actively pursuing innovative approaches to meet the rising demand for plant-based protein sources. As the market continues to evolve, consumers can expect to see an even wider range of pea protein products that align with their preferences for health, taste, and sustainability.
Key Segments
By Nature:
- Organic
- Conventional
By Product Type:
- Protein Concentrates
- Protein Isolates
- Textured Protein
- Hydrolyzed Protein
By End-use Industry:
- Food Processing
- Meat Alternatives
- Bakery Products
- Confectionery
- Snacks & Cereals
- Meat-Based Products
- Functional Beverages
- Others
- Animal Feed
- Livestock
- Cattle
- Swine
- Poultry
- Pet Food
- Aquafeed
- Livestock
- Nutraceuticals
- Dry Processing
- Sports Nutrition
- Infant Nutrition
- Cosmetic and Personal Care
By Countries:
- Germany Pea Protein Industry
- Italy Pea Protein Industry
- France Pea Protein Industry
- The United Kingdom Pea Protein Industry
- Spain Pea Protein Industry
- BENELUX Pea Protein Industry
- Russia Pea Protein Industry
- Rest of Europe Pea Protein Industry
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Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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