Pea Protein Market:
Growth opportunities in the Pea Protein Market look promising over the next six years. This is mainly due to the increasing inclination towards healthy lifestyle along with the rising awareness about healthy diet and consumption of protein powder.
Pea Protein Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The augmenting demand for pea protein attributed to the surging knowledge among consumers about the healthy diet pattern and fit and active lifestyle has stimulated the growth of the pea protein market. Also, the protein is descended from plant-based sources and is essential for vegetarian consumers. In addition, they are harmless, non-allergic, and easily consumable with their exertion in dietary supplements, beverages, meat alternatives, and bakery products. The increasing trend of flexitarian diet led by the escalating apprehension towards cardiological effects concerned with the consumption of red meat, which will further strengthen the pea protein market size. Furthermore, the soaring recognition about the consumption of protein powder to support bone health and muscle growth will drive the market growth. The high consumption of fortified functional food items supports the pea protein market share. However, the threat of replacement owing to the availability of substitutes including soy, whey, and hemp will hamper the market growth. Rice protein another ingredient that is gaining prominence in the market and is largely implemented as an alternative to pea protein.
Type Segment Drivers
Based on the type, isolates are projected to expand at a higher CAGR during the forecast period. This is mainly attributed to their growing implementation in performance nutrition products, confectioneries, cereals, plant-based meat, and dairy products. They are regarded as an ancillary for vegetarians, vegans, and lactose-intolerants and can easily be absorbed by the body and are highly digestible. Additionally, it is also rich in leucine, glutamine, and arginine, and all the other brand chains and essential amino acids.
Regional Drivers
Based on the regional coverage, Europe is expected to witness a higher CAGR during the forecast period. This is primarily because of the large-scale production and the rising consumption of plant-based products. Leading market players, including Emsland Group, Cosucra Group, have a massive prevalence and emphasize serving the growing market demand. Additionally, the aggravating awareness related to the benefits among the individuals has resulted in escalated preference of manufacturers to comply with standards established by the EU regarding non-GMO products. This is further supplementing the market growth.
Pea Protein Market’s leading Manufacturers:
- Axiom Foods
- Glanbia PLC
- DuPont
- Emsland Group
- Ingredion
- The Scoular Company
- A&B Ingredients
- FENCHEM
- PURIS
- Roquette Frères
Pea Protein Market Segmentation:
Segmentation by Type
- Isolates
- Concentrates
- Textured
Segmentation by Form
- Dry textured pea protein
- Wet textured pea protein
Segmentation by Application
- Meat Substitutes
- Performance Nutrition
- Functional Foods
- Snacks
- Beverages
- Bakery Products
- Confectionery
Segmentation by Source
- Yellow Split Peas
- Chickpeas
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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