(Food-Beverage-News.Com, January 18, 2020 ) Meticulous Research® – leading global market research company published a research report titled, “Pea Protein Market by Type (Pea Protein Isolate, Pea Protein Concentrate), Application (Nutrition and Health Supplements; Bakery, Cereals, and Snacks; Meat Products and Alternatives; Beverages), and Geography – Global Forecast to 2025”
According to this latest publication from Meticulous Research®, the global pea protein market is expected to grow at a CAGR of 13% from 2019 to 2025 to reach $444.7 million by 2025; whereas, in terms of volume, this market is expected to grow at a CAGR of 10.2% from 2019 to 2025 to reach 338.6 thousand MT by 2025.
The global pea protein market is majorly driven by increasing awareness about the benefits of protein and growing demand for protein rich diet, growing health & wellness trend, increasing consumers’ focus on meat alternatives, growing investments by key players, and increasing soy free and gluten free trends. Moreover, increasing inclination towards vegan diet and emerging economics such as Southeast Asia, Latin America, and the Middle East & Africa provide significant growth opportunities for the pea protein manufacturers in the coming years. However, significant preference for animal-based protein and consumer preference to other plant proteins over pea protein restrict the growth of this market to some extent.
The global pea protein market study presents historical market data in terms of value and volume (2017 and 2018), estimated current data (2019), and forecasts for 2025 –by type (pea protein isolate, pea protein concentrate, and others), and application (nutrition and health supplements; bakery, cereals, and snacks; meat products and alternatives; beverages; and others). The study also evaluates industry competitors and analyses the market at the country level.
Based on type, the overall pea protein market is segmented into pea protein isolates, pea protein concentrates, and others. Pea protein isolates market is estimated to hold the largest share of the overall pea protein market in 2019. The large share of this segment is mainly attributed to its high protein content as well as high emulsification and stability properties. Pea protein isolate provides key formulation functionality while helping manufacturers create in-demand, high protein products to meet consumer demand.
Based on application, the overall pea protein market is segmented into nutrition and health supplements; bakery, cereals, and snacks; meat products and alternatives; beverages; and others. The nutrition and health supplements application is estimated to hold the largest share of the overall pea protein market in 2019, owing to its functional and nutritional properties. Incorporation of pea protein into health supplements gives benefits to brain health, eye health, heart health, muscle mass, immunity, weight management, and sports performance. The applications of pea protein in nutrition and health supplements are mainly fueled by ageing population, health & wellness trend, and increasing prevalence of diseases.
Based on geography, the global pea protein market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. These regional are further analyzed at a country level. North America is estimated to account for the largest share of the overall pea protein market in 2019. However, Asia-Pacific region is expected to witness a rapid growth during the forecast period. The rapid growth of this region is mainly attributed to the increasing awareness about the protein rich diet, rising health consciousness, rapidly growing food & beverages and health supplement industry, growing population and urbanization, and large base of vegan population.
The key players operating in the global pea protein market are Roquette Frères Le Romarin (France), AGT Food and Ingredients Inc. (Canada), Cargill, Incorporated, (U.S.), Verdient Foods Inc. (Canada), Anchor Ingredients Co., LLC (U.S.), E.I. Dupont De Nemours and Company (U.S.), Ingredion Inc. (U.S.), Kerry Group (Ireland), NOW Health Group, Inc. (U.S.), Axiom Foods Inc. (U.S.), Burcon NutraScience Corporation (Canada), Glanbia plc (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest Brands (U.S.), and Emsland Starke GmbH (Germany).
Which are the high growth market segments in terms of type, application, and countries? What is the historical market for pea protein across the globe? What are the market forecasts and estimates from the period 2019-2025? What are the major drivers, restraints, and opportunities in the global pea protein market? Who are the major players in the global pea protein market and what share of the market do they hold? Who are the major players in various countries and what share of the market do they hold? How is the competitive landscape? What are the recent developments in the global pea protein market? What are the different strategies adopted by the major players in the global pea protein market? What are the geographic trends and high growth countries? Who are the local emerging players in the global pea protein market and how do they compete with the other players?