Global pea protein market is expected to reach USD 189.34 Million by 2025 at a CAGR of 24.3% during the forecast period from 2018-2025. Growing vegan population, changing consumer lifestyles and increasing health concerns are two factors affecting the demand of the market.
Pea protein is the type of protein which is derived from green and yellow peas and is used in some protein supplements and protein-enriched foods. Pea protein comprises of all the essential amino acids required for healthy body function. It regulates blood circulation and calcium absorption, does weight management, boosts metabolism, maintain healthy muscle, and regulate blood sugar. It has a variety of application in the food and beverage industry. It contains essential nutrients in good quantities and has an advantage of functional characteristics with a large number of amino acids. They are segmented into concentrates, isolates and textured pea depending on their protein content. For instance, in 2018, CP Kelco is seeing interest in pea protein beverages and has launched a prototype ‘pea’ nut butter shake.
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- The base year for the study has been considered 2017, historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The pea protein market is analysed on the basis of value (USD Million) and Volume (Kilotons).
- The study delivers a comprehensive analysis of global pea protein market by type, application, form and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the Pea Protein market. This report incorporates the industry analysis which is focused on providing an extensive view of the pea protein market.
- The study also includes attractiveness analysis of type, application, form and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the pea protein market and a comparative analysis based on their business overviews, industry type, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Growing vegan population
- Nutritional benefits offered by pea
- Technological improvement in extrusion & processing
- Changing consumer lifestyles and increasing health concerns
- Low sensory properties of pea
- Cost of pea proteins is high
- Growing need for plant-based alternatives to meat products
- Soy substitution and pricing pressures are two factors posing serious challenge to the market.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America is dominating the market with the highest share of 42.30% in 2017.North Americais dominant regiondue to the increasing population, rising health awareness, and growing innovative product introductions which have propelled the pea protein growth in these regions.
Competitive Analysis: The major players of market include A&B Ingredients, RoquetteFreres Le Romarin, BurconNutrascience Corporation, CosucraGroupeWarcoing SA, Glanbia, Plc. Nutri-Pea Limited, Sotexpro SA, Axiom Foods, Inc., Farbest
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