Pea Protein Market in Emerging Economies Will Witness a CAGR of 23.6% by 2023

Posted by Swati Tamhankar on November 14th, 2019

The global pea protein market has been emerging at a considerable pace, owing to rising health consciousness, increasing consumer inclination towards veganism, soaring consistent growth in the food & beverages industry, and rising focus on organic food products.

The global pea protein market was valued at .09 million in 2017, and is projected to reach 6.03 million by 2025, registering a CAGR of 23.6% from 2018 to 2025. Pea protein is extracted from green and yellow peas and is used in some protein supplements and protein-enriched foods. Pea protein contains all the essential amino acids required for healthy body function. It helps to improve blood circulation and calcium absorption, do weight management, boost metabolism, maintain healthy muscle, and regulate blood sugar. Pea protein is 100% vegan and lactose-free and is safe for people with allergies or sensitivities to dairy and eggs. Thus, vegetarians and vegans prefer pea protein products to supplements with protein derived from dairy, such as casein, whey proteins, eggs, or meat.

Rising health consciousness and health issues related to consumption of animal-based products, such as obesity, diabetes, cardiovascular diseases, and others, have shifted consumer inclination towards veganism. They have been actively trying to incorporate more plant-based foods into their diets. Growing demand for plant-based proteins by vegan population has been driving the pea protein market majorly. In addition, growth in the food & beverage industry, dairy products, confectionery industries, technological advancements, and innovations in protein-based products offer promising opportunities for pea protein manufacturers in developing countries, such as China, India, and Japan. High demand for sports nutrition products, increase in consumer expenditure, and rise in awareness for proteinaceous diet among developed countries drive the growth of the global pea protein market. However, low consumer awareness about the pea protein-based products and formulation challenges in pea protein products are expected to restrain the market growth. Several companies have been proactively investing in development and expansion of their business to cater to their consumers effectively and tap the emerging markets; for instance, Roquette, a France-based company, has been investing some 0 million in a construction project to build the world’s largest pea protein plant in Manitoba, Canada. In addition, exhaustive marketing campaigns by established companies have also increased brand awareness in the global pea protein industry; thus, leading to the growth of the industry.

The global pea protein market is segmented on the basis of type, form, application, and region. According to type, the pea protein market is segmented into pea protein isolate, pea protein concentrate, and textured pea protein. By form, the pea protein market is segmented as dry and liquid. On the basis of application, the pea protein market is classified into dietary supplement, bakery & confectionery good, meat product & alternative, beverage, and others. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits

• This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global pea protein market size for the period of 20182025 to identify the prevailing market opportunities.
• The key countries in all the majors regions have been mapped based on their market share.
• Porters Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierbuyer network.
• A comprehensive analysis of factors that drive and restrict the growth of the global pea protein market is provided.
• An in-depth analysis of the pea protein market segmentation assists in determining the prevailing market opportunities.
• The report includes details of the analysis of the regional and global markets, key players, market segments, application areas, and growth strategies.

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The dietary supplement segment is projected to be the fastest-growing segment for pea protein, during the forecast period, between 2018 and 2025. Features, such as high, amino-acid profile, excellent emulsification, good water-binding characteristics, and high solubility, has increased its rate of adoption in food products over past few years and is also anticipated to rise at a fast-paced growth rate over the next couple of years.

The key players operating in this market are A&B Ingredients, Roquette Freres Le Romarin, Burcon Nutrascience Corporation, Cosucra Groupe Warcoing SA, Glanbia, Plc., Nutri-Pea Limited, Sotexpro SA, Axiom Foods, Inc., Farbest Brands/Farbest-Tallman Foods Corporation, and Shandong Jianyuan Foods Co., Ltd.

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