Global Pea Protein Ingredient Market to reach US$ 1,374.3 mn by 2025Posted by aartimurkute on January 25th, 2021 Fairfield’s latest market research report on the global pea protein ingredientmarket discusses the changes in the global diet. The growing popularity of veganism in the West and awareness of the environmental impact of meat consumption is expected to play a critical role in shaping the market. The research report highlights key drivers, restraints and potential threats to the pea protein ingredientmarket globally. For more insights into the Market, Request a Sample of this Report @ https://www.fairfieldmarketresearch.com/report/pea-protein-ingredient-market/ Key Highlights
The global pea protein ingredientmarket is expected to flourish owing to multifunctional properties of pea protein ingredient. The market is expected to show favourable growth during the forecast period, reaching US$ 973.5 Million in 2021. In the next five years, the market is expected to register a CAGR 8.4%. According to analysts, increased preference for convenience food products is likely to be the key driver. Pea protein ingredientis gaining wide popularity as it provides a healthy alternative to lactose-intolerant consumers, vegetarians and vegans. Heated conversations around healthy lifestyle choices and conscious consumption are boosting the demand for nutrient-rich protein alternative. Pea protein ingredientis also being widely consumed as it can be easily absorbed and digested in the body. The market is increasingly substituting meat industry as it provides simple storage options and has lower processing cost. The dry segment is expected to lead the global market. The pea flour extracted in the form of powder is dry pea protein. The dry pea protein is known to be more sustainable compared to the conventional protein sources therefore, providing enhanced functionality by increasing its range of applications. Europe is expected to dominate the global market during the forecast period. This dominance will be due to large scale consumption and production of plant-based products. Furthermore, a shift of consumer preference towards veganism will also drive the regional market. The growth of this regional market will also be attributable to the awareness about the benefits of pea protein ingredient. This has also led manufacturers in this region to comply with the EU standards regarding non-GMO products. These factors are likely to boost the demand for the market in this region. In Order to place the Purchase Query Click Here: sales@fairfieldmarketresearch.com The key players are investing in research and development activities to expand and improvise their product portfolio. This will create dominance and increase competition in the market. They are actively investing in research and development activities along with focusing on mergers and acquisitions to stay ahead in the competition. The key players operating in the global pea protein market Roquette Group, Ingredion Incorporated, PURIS, Emsland Group, Cosucra Groupe Warcoing SA, Axiom Foods, DuPont de Nemours, Inc, The Scoular Company, Burcon NutraScience Corporation and Glanbia plc. Like it? Share it!More by this author |