The latest report pertaining to Pea Protein Market provides a detailed analysis regarding market size, revenue estimations and growth rate of the industry. In addition, the report illustrates the major obstacles and newest growth strategies adopted by leading manufacturers who are a part of the competitive landscape of this market.
Pea Protein market is valued at USD 586.32 Million in 2018 and expected to reach USD 1422.67 Million by 2025 with the CAGR of 13.5% over the forecast period
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This report additionally covers the effect of COVID-19 on the worldwide market. The pandemic brought about by Coronavirus (COVID-19) has influenced each part of life all inclusive, including the business segment. This has brought along a several changes in economic situations.
Scope of The Report:
Pea protein is a food with a neutral taste that is used in dairy alternatives like cheeses and yogurt. It is extracted from the yellow pea, Pisum sativum, and features a typical legume amino acid profile. Pea proteins are often useful ingredient to provide structure to gluten-free foods or improve texture. Some promoting of pea protein is based on consumer concerns around genetic modification of soy plants. It's typically used to increase the protein content of smoothies and shakes and is a great fit for almost any diet since it's naturally vegan and hypoallergenic. Pea protein is a high-quality protein and an excellent supply of iron. It will aid muscle growth, weight loss and heart health. The rising quality of this pea supplement should come as no surprise, considering the amazing makeup of this veggie protein powder. Pea protein powder is among the foremost hypoallergenic of all protein powders, because it contains no gluten, soy or dairy.
Global pea protein market report is segmented on the basis of product type, end user and regional& country level. Based upon product type pea protein market is classified as pea protein isolates and pea protein concentrated. Based upon end user pea protein market is classified into dietary supplement, baked goods, healthy food, pet food and others.
The growth of the key sectors of application like the analogues and meat extenders, bakery goods, dietary supplements as well as beverages has been expected to drive the demand for pea protein in the years to come.
The largest segment in terms of volume has been the concentrates segment and it is further expected to see a growth in the market. The growth in the application of frozen breads has been expected to have a major impact in the increase of manufacturing output of these baked goods and is going to fuel the demand of this product in the coming years. Isolates has been coming up as a segment off late too and grabbing a major amount of market share.
Pea Protein Companies
Global pea proteinmarket Report covers prominent players are like,
- Emsland Group
- Shuangta Food
- Yantai Oriental Protein Tech
- Shandong Jianyuan Foods
- Shandong Huatai Food
The rising vegan population and increasing consumer awareness regarding nutritional benefits offered by pea and pea proteins are the key factors that are projected to drive the growth of the pea protein market.
The rising vegan population and increasing consumer awareness regarding nutritional benefits offered by pea and pea proteins are the key factors that are projected to drive the growth of the pea protein market. Plant proteins have made up a higher quantity of human diet in recent years. Pulse is another new opportunity in food industry used for the formulation of plant protein. According to Vegan and Plant-Based Diet Statistics, in 2018, there were about 1.16% of population vegans in Great Britain. Even people who aren’t 100% vegan are showing increased interest in replacing some of their meals with plant-based alternatives. Increasing consumer awareness regarding nutritional benefits offered by pea and pea proteins. Fortunately, the vegan foods market is ever-growing, and the products are becoming more realistic. The growing demand for milk alternatives is another significant factor increasing the pea protein market. Consumer demand for alternatives to dairy is on the rise, and with it, an ever-expanding array of plant-based products from which to choose. Pea milk is one of the newer dairy-free milk alternatives, with only one major manufacturer currently in the U.S. but a second one gearing up to introduce its own line soon. Like most other non-dairy alternatives, pea milk is fortified to contain 150% more calcium than cow’s milk. Low consumer awareness, formulation challenges in pea protein products hampers the growth of the market to a greater extent. Rising demand for pea-protein-based sports nutrition & weight management products and growing use of pea proteins as alternative protein source for pet foods have created multiple opportunities in Pea protein Market.
The growth in the popularity of substitutes of meat as well as the increase in concern towards the intolerance to lactose in adults in addition to the rise in the demand for the products which are gluten-free have been recognized as some of the major factors which are driving the global pea protein market in the period in which forecast is made. Further, the outlook towards the sports related nutrition has been expected to spur the growth of the global pea protein market. Though, the presence of other ingredients which are plant based like wheat, canola and soy have been expected to challenge the demand in the global pea protein market.
In terms of processing this product, the yellow and green peas have been used as the raw materials. The rise in the importance of the process of organic farming due to the strong scenarios of regulation in Australia, Brazil and United States for the providing of incentives to farmers has been expected to bolster the increase of the pea crops and also the availability of the raw material which would consequently boost the growth of the industry in the next few years.
There is a growth in the awareness towards the enrichment of nutrition and that has increased the significance of the dietary supplements and therefore has been impacting the market favorably in the period of forecast. Increase in the importance of consumption of protein for vegetarians has been seen as a major cause for rising demand for the powder in the next few years. The rise in the concern about the meat and dairy allergies has been expected to lift the demand for the food products in this market in future.
The growing awareness toward nutrition enrichment has increased the importance of dietary supplements and is expected to favorably impact the market. Increasing importance of protein consumption for vegetarians is foreseen to result in rising demand for pea protein powder over the forecast period. Rising concerns regarding dairy and meat allergies are expected to fuel the demand for protein fortified food products in the near future. The increase in consumption of grains like canola and soy for producing the chemicals that are bio-based has been expected to reduce the availability as the ingredient which has protein.
North America is dominating the Pea Protein Market
North America is expected to dominate the growth of pea protein market,due to increasing Rapid consumer shift towards vegan diets along with rising demand for plant-based alternatives. According to Vegan and Plant-Based Diet Statistics, U.S. retail trades of plant-based foods have increased 11 percent from 2018 to 2019, hitting a plant-based market value to USD4.5 billion. Europe is second largest region for the growth of Pea Protein market due to preventing the exploitation of animals, rising health consciousness, rising incidents of lifestyle diseases and growing environmental awareness are influencing people to switch to a vegan or vegetarian diet. Pea is one of the ancient sources of food in Europe and is still widely grown in the region. According to Vegan Population Statistics in the UK, the 400% increase of vegans in the UK is shocking, but the 1,500% increase in plant-based food sales in the UK is even more shocking. The developing countries such as China and India are driving the growth in the Asia-Pacific Pea Protein market.
The largest consumer as per the estimates is the region of North America in terms of the global volumes. The increase in demand for the items that are gluten free in the United States and the industry of sports nutrition growing has been the major reason behind this growth as well as the details about deaths which have been caused due to the consumption of meet have been important factors for growth
Pea Protein Market Segments:
By product type- Pea protein isolate, Pea protein concentrate, Textured pea protein
By form- Dry, Liquid
By the end-users- Dietary Supplement, Baked Goods, Healthy Food, Pet Food, Others
Market by Regional Analysis
North America (USA, Canada, Mexico), Europe (UK, France, Germany, Russia, Rest of Europe), Asia-Pacific (China, South Korea, India, Japan, Rest of Asia-Pacific), LAMEA, Latin America, Middle East, Africa
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