Pea Protein Ingredient Market is Global projected to grow at a CAGR of 8.5% by Forecast to 2023 | Assets to MRFR

September 25 06:40 2019
Pea Protein Ingredient Market Global by Product (Isolates), Form (Dry, Wet and others), Application (Dietary Supplement, Food and Beverage {Functional Food and Beverage, Meat Substitute, Bakery and Confectionary and Packaged Goods}, Animal Feed and others) and Region

Market Overview

Pea protein is a plant-based protein extracted from yellow pea or Pisum sativum. It can be used as a dairy alternative for cheese and yogurt. It is gluten free and rarely cause allergies to consumers, which is driving its market by replacing egg protein and wheat protein. Moreover, owing to its functional attributes and appealing nutritious profile, the food and beverage industry is attracted to the pea protein. Its diverse applications in the food products and sports supplements is adding fuel to the growth of the pea protein ingredient market. Additionally, it is used as an additive in animal feed to improve nutritious quality of the livestock feed. Pea Protein Ingredient Market is estimated to grow at a CAGR of 9.3% over the forecast period. Pea protein is a plant-based protein extracted from yellow pea, green pea or Pisum sativum. It is used as a nutritional additive in dietary supplement, bakery goods, meat substitutes, packaged goods, confectionaries, functional beverages, animal feed, and others. Its vast applications have surged the growth of the pea protein ingredients market.

Furthermore, rising importance of organic farming owing to strong regulatory guidelines in the U.S. to provide incentives to farmers is expected to increase the farming of pea crop, which, in turn, will increase raw material availability in the market. All these factors will lead to the growth of North American market at a CAGR of 9.3% during the forecast period 2017-2023. North America is a leading pea protein ingredients market and is expected to grow substantially over the forecast period 2017-2023. Changing lifestyle along with increasing awareness towards healthy diet, and rising demand for energy drinks and processed foods are driving the market growth in this region. Moreover, increasing demand for gluten free products in the U.S. supported by rising concern towards cardiovascular diseases caused from red meat consumption is adding fuel to the market.

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Major Key Players

This report includes a study of strategies such as mergers, acquisitions, and product launches by the major used cooking oil market players. It further includes product portfolios, developments of leading players, which includes

Some of the key players profiled in the Global Pea Protein Ingredient Market are

  • Nutri-Pea Limited (Canada),
  • Axiom Foods, Inc. (U.S.),
  • A&B Ingredients. (U.S.),
  • COSUCRA (Belgium)
  • Sotexpro (France)
  • Cargill Inc. (U.S.)
  • CHS Inc. (U.S.)

Segments

Pea Protein Ingredients Market is segmented by products including isolates, concentrates, textured and others. Among all, isolates are dominating the market followed by concentrates. It is used as a texturizing agent in meat goods and comprise major share of protein contents than others. Moreover, concentrates are gaining popularity as sports supplement for its benefit of weight control.

Based on form, pea protein ingredients market are segmented as dry, wet and others. Dry form is holding a major share in the market for its vast applications in meat extenders, health supplements and bakery products. Moreover, liquid form is expected to grow due to its ease of getting blended in the food products.

Based on the application, it is segmented into dietary supplement, animal feed, food and beverages including meat substitute, functional beverages, bakery products, packaged goods and others. Among all, dietary supplement is dominating the market due to inclination of consumers towards health-conscious diet and consumption of sports supplement.

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Regional Analysis

The Global Pea Protein Ingredients Market is segmented into Europe, Asia Pacific, North America and rest of the world (RoW). North American market projects the major share of the global pea protein market followed by Europe. The rising consumption of sports supplement is driving the market of pea protein ingredients in these regions. Moreover, increasing demand for gluten free items in the U.S. has made a positive impact in the pea protein ingredient market.

Furthermore, Asia Pacific is projected to grow rapidly in the coming years owing to the growth of functional foods in countries such as China, Japan, and India. Moreover, inclination towards sports nutrition sector in Argentina, Brazil, and Chile have a positive impact for pea protein market in these regions.

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