Pea fiber is one of the finished products made of pods or seeds of the pea plant. It is used as an ingredient for vegan dishes as well for ready-to-eat prepared meals. Pea fiber is rich in nutrients, has high amount of protein, and is cholesterol-free, which is expected to propel its demand in the global market. Moreover, pea fiber is used in food and pharmaceutical industries as it has many benefits resulting into its massive demand in the market. Listed are the factors responsible for pea fiber market growth, and those which are expected to remain significant over the forecast period.
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Preference for Plant-based Sources of Dietary Fiber Driving the Demand for Pea Fiber
As consumers are becoming increasingly conscious about their health and daily diet routine, they prefer to consume nutrition and protein-rich products. Hence, the demand for low-fat food is anticipated to increase, propelling the demand for pea fiber market. Also, the number of consumers adopting a vegan lifestyle is increasing, which is also likely to boost the demand for pea fiber in the global market. Moreover, changing living style and food habits of people have been resulting in many health issues, such as cardiovascular disease, obesity, diabetes, and blood pressure. Additionally, pea fiber controls lipoprotein metabolism and increases catabolism, which, in turn, is anticipated to boost the demand for pea fiber in the coming years. Moreover, due to the increasing millennial population as well as their awareness towards dietary supplements made from pea fiber, the demand for pea fiber is expected to increase during the forecast period. Further, the market for pea fiber is also anticipated to grow with the demand from vegan consumers, as they prefer nutrition or protein, which are directly extracted from plants. These are the factors which are likely to drive the growth of the pea fiber market.
Pea Fiber Market Segmentation
On the basis of type, the pea fiber market has been segmented as-
On the basis of end–use industry, the pea fiber market has been segmented as-
- Food Industry
- Bakery Products
- Breakfast Cereals
- Meat Products
- Dietary Supplements
- Pharmaceuticals Industry
- Pet Food & Animal Industry
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Pea Fiber Market: Key Players
Some of the major manufacturers operating in the global pea fiber market are Vestkorn Milling AS, A&B Ingredients, Roquette Frères Company, AGT Food and Ingredients, Parrheim Foods, Shandong Jianyuan Foods, Yantai Oriental Protein Tech Co., Ltd., Ingredion Incorporated, SunOptra Ingredients Group, J. RETTENMAIER & Söhne Group, among others. Apart from the above mentioned companies, many other manufacturers are showing a keen interest in pea fiber, owing to its wide application in the food and pharmaceutical industries, resulting in high demand for pea fiber over the forecast period.
Pea Fiber Market Opportunities
Due to increasing vegetarian consumers across the globe, the demand for natural as well as organic products is expected to thrive, simultaneously boosting the market growth of pea fiber. The trend of maintaining a good physique is likely to create opportunities for the pea fiber manufacturers to expand their product offerings in the worldwide global pea fiber market. The rise of the vegan food market as well for high protein and nutrition ingredients in sports nutrition and bodybuilding, drives the demand for pea fiber in the market. Pea fiber is also a clean label product. Clean label products are the products having an easily understandable ingredients list. They are healthy, nutritious, and natural and enjoy more demand from consumers, which is propelling the demand for pea fiber in the market. Due to various applications of pea fiber such as dietary, functional, and others, the demand for pea fiber in the market is increasing.