Market Size of Italy Plant Protein Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.27 % |
| Fastest Growing Market | Food and Beverages |
| Largest Market | Supplements |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Italy Plant Protein Market Analysis
The Italy plant protein market was valued at USD 205.4 million for the current year and is projected to register a CAGR of 4.27% over the next five years.
- More environmentally sustainable and health-conscious consumers are turning to plant-based protein sources as an alternative to animal products. To increase their appeal to customers, the food industry is consistently trying to create new plant-based products that taste and feel like traditional animal-based foods.
- Moreover, there is an increase in consumers' inclination towards protein-rich food products. Therefore, manufacturers are launching innovative plant-protein products to address the changing needs of the industry. For instance, in April 2021, Ingredion Inc. launched two new ingredients under its plant-based pea protein segment. It launched Vitessense Pulse 1853 Pea Protein Isolate and Purity P 1002 Pea Starch, which are 100% sustainably sourced from North American farms.
- Additionally, the increase in demand for plant protein may also be attributed to government initiatives and public health campaigns that support sustainable and healthy eating. As a result, companies are opting for mergers and acquisitions as strategies to increase their market share and product presence.
- For instance, in February 2021, DuPont's Nutrition & Biosciences and the ingredient company IFF announced their merger. The combined company stated that it will continue to operate under the name IFF. The complementary portfolios give the company leadership positions within a range of ingredients, including soy protein. Thus, all the factors act as major market drivers for the Italian plant protein market.
