Global Pea Protein Market is valued approximately USD 49.02 Million in 2019 and is anticipated to grow with a healthy growth rate of more than 23.60% over the forecast period 2020-2027. Pea protein isolate continues to account for relatively high sales thanks to its over 90 percent protein content, which is segregated from other pea components. Amid the growth of the 'free-from' movement, textured vegetable proteins have accumulated momentum because they are free of fat and have no cholesterol, which has an effect on demand for texturized pea proteins. Further, the popularity of pea protein in food products is rising due to the change in demand from animal protein to plant protein. This propensity towards plant-based diet is related to reasons such as sustainability, wellness, religious values, and environmental and animal rights. According to reports released by the Plant Based Foods Group, there was a substantial rise in plant-based foods in the United States between 2017 and 2018, with just 50 per cent registered for substitute dairy foods. Furthermore, plant protein processing is known to be more environmentally sustainable than animal proteins. Government associations around the world are also now promoting the use of organic and vegetarian food sources. For example, The European Vegetarian Union (EVU) urges the EU Commission to of the production of animal products in the light of its climate policy.
The EU has urged decision-makers to adopt policies to facilitate a societal dietary change. However, low consumer awareness about the pea protein-based products impedes the growth of the market over the forecast period of 2020-2027. Also, the inclusion of pea protein in sports eating and weight loss products is projected to increase the importance and demand for pea protein in the coming years.
The regional analysis of global Pea Protein market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rise of pea proteins in these regions has been motivated by growing population growth, increasing health consciousness and increasing innovative product introductions. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increasing recognition of food & beverage producers, increasing urbanization, and increasing market demand for pea proteins would create lucrative growth prospects for the Pea Protein market across Asia-Pacific region.
Major market player included in this report are:
Roquette Freres Le Romarin
Burcon Nutrascience Corporation
Cosucra Groupe Warcoing SA
Axiom Foods, Inc.
Farbest Brands/Farbest-Tallman Foods Corporation
Shandong Jianyuan Foods Co., Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Pea protein isolate
Pea protein concentrate
Textured pea protein
Bakery & confectionery good
Meat products & alternative
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Pea Protein Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers