In this report, FMI offers refined forecast on the global pea protein market between 2019 and 2026. In terms of value and volume, the market is expected to expand at a CAGR of 11.8% and 12.0%, respectively, over the projected period. The study demonstrates market dynamics and trends in all seven regions that are expected to influence the current nature and future status of the pea protein market over the forecast period.
With increasing consumer demand for vegetarian food additives and vegan alternatives to meat-based food products, leading players in the food industry have begun to introduce innovative plant-based protein products. Pea protein is witnessing incremental demand with the mounting number of consumers shifting to veganism. However, consumers’ knowledge about pea protein content and benefits of pea protein vs whey vs soy protein is expected to influence manufacturers’’ strategies in the coming years. Nevertheless, consumers’ inclination towards plant-based protein beverages is expected to trigger demand for pea protein powder in the vegan food industry in the coming years. Consequently, leading market players are targeting beverage manufacturers to boost sales of their pea protein powder and ultimately, gain a competitive edge in this landscape.
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In this report, Future Market Insights analyses the global pea protein market for the period 2019-2026. The primary objective of the report is to offer updates on advancements in the global pea protein market.
Increasing demand for vegan and natural food ingredients has been supporting growth of the pea protein market over the years. Also, increasing number of self-directed consumers, health benefits associated with pea protein (it is easier to digest than other plant proteins, is non-allergen and non-GMO) and growing obesity in the global population are factors expected to further fuel growth of the pea protein market over the forecast period. The global market for pea protein market is anticipated to witness considerable growth in the coming years.
In the next section, FMI analyses the pea protein market performance on the basis of the global market revenue and volume split, since this is essential to understanding growth potential of the pea protein market. Besides, this section includes FMI’s analysis of key trends, drivers and restraints from the supply side and demand side that are influencing growth of the pea protein market currently. Impact analysis of key growth drivers and restraints, based on the weighted average model, is included in the report to better equip and arm clients with crystal-clear, decision-making insights.
In the report, the pea protein market has been segmented on the basis of type (isolates, concentrates, textured) and application (bakery & snacks, dietary supplementation, beverages and meat analogues/substitutes). All these segments are included in this section to make the study more comprehensive.
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The next section of the report includes analysis of the pea protein market by region. It provides market outlook for 2019–2026 and sets the forecast within the context of the pea protein market. This study discusses key regional trends contributing to growth of the pea protein market on a worldwide basis, as well as analyses the degree at which global drivers are influencing this market in each region. Key regions assessed in this report are North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan as a separate region and the Middle East and Africa (MEA).
All the above sections-by type, by application and by region-evaluate the present scenario and growth prospects in the pea protein market for the period 2016-2026. We have considered 2018 as the base year and provided data for the trailing 12 months.
To calculate the pea protein market size, we have considered the overall revenue generated from the sales of pea protein across the various regions. The forecast presented here assesses the total revenue generated across the pea protein market. In order to offer an accurate forecast, we started by sizing up the current market, which forms the basis of how the pea protein market would develop in the future. Given the characteristics of the market, we triangulated the outcome on the basis of three different types of analyses, based on supply side, consumer spending and economic envelope. However, forecasting the market in terms of various pea protein segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed.
It is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the market and to identify the right opportunities in the pea protein market.
Another key feature of this report is the analysis of all key pea protein market segments and sub-segments, regional adoption, revenue forecast in terms of absolute dollar and volume forecast. These are traditionally overlooked while forecasting the market. However, absolute dollar and unit opportunity are critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective present in the pea protein market.
In order to understand key segments in terms of growth and adoption of pea protein across the concerned regions, Future Market Insights has developed the pea protein market attractiveness index. The resulting index should help providers identify real market opportunities.
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In the final section of the report, the pea protein market competitive landscape is included to provide report audiences with a dashboard view, based on various categories of providers present in the market value chain, their pea protein product portfolio and key differentiators in the market. Key categories of providers covered in the report are pea protein providers. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the pea protein market value chain. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in the pea protein marketplace. Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the pea protein market space. Key competitors covered in the report are Cosucra Groupe Warcoing, Nutri-Pea Limited, Sotexpro, Roquette Frères, Glanbia Plc, Fenchem Biotek Ltd, Prinova Group LLC, Yantai Shuangta Food Co, AGT Food & Ingredients, Inc., Burcon Nutrascience, World Food Processing LLC., Yantai T Full Biotech Co. Ltd., Yantai Shuangta Food Co, Suzhou Wanshen Flour Products Co, Shandong Jindu Talin Foods Co, Shandong Huatai Food, Yantai Oriental Protein Tech Co, Shandong Jianyuan Foods Co and Axiom Foods Inc.
Key Segments Covered
- By Type
- Bakery & Snacks
- Dietary Supplementation
- Cosucra Groupe Warcoing
- Nutri Pea Limited
- Roquette Freres
- Glanbia Plc