Global Pea Protein Market: Overview
Pea protein powder is a high-quality protein that is extracted from pea using advanced technology and low temperature and low-pressure technology. Pea protein contains 18 amino acids and necessary for the human body and is a full-price protein. Pea is a legume plant. Pea is rich in various nutrients that are required by the human body, mainly contains high-quality protein. And legumes do not contain cholesterol, which is better than animal protein. The foamability and foam stability of pea protein powder are closely related to pH, ionic strength, concentration, heat treatment, protein denaturation, and protein types. The foamability and foam stability of pea protein powder increase with the increase of its concentration. Pea protein powder can add to cereal foods as a nutrition enhancer, such as bread, cakes, noodles, nutritional rice noodles, or as a meat substitute to western-style meat products such as ham sausage and red sausage.
Global Pea Protein Market: Insights
The global pea protein market was valued at USD 627.56 million in 2019 and expected to generate USD 1668.9 million by 2027 at a CAGR of 7.6% during the forecast period (2020-2027). The rise in the demand for plant-based products, surge in the vegan population across the globe is fueling the market growth. Further, increasing consumer awareness regarding the pea and pea-based products. The growing applications of pea protein in various industries, such as dietary supplements, bakery goods, and beverages, is anticipated to fuel the demand for pea protein across the globe in the coming years. Additionally, the enhanced health consciousness, multiple health benefits, and the upsurge in demand for meat protein alternatives are strengthening the demand for pea protein in the next few years. The increasing popularity of meat substitutes, concerns regarding lactose intolerance among adults, along with the surge in demand for gluten-free products is anticipated to boost the global pea protein market in the future periods.
Moreover, the growing demand for vegan alternatives in the food & beverage industry, coupled with increasing awareness towards the benefits of natural ingredients, is expected to witness remarkable growth of the pea protein industry. The escalating importance of a flexitarian diet among the majority population in the U.S and Europe on account of the growing concerns regarding cardiovascular diseases associated with red meat consumption is a key factor boosting the pea protein sales. Pea protein is less irritating to the human body, and most products can reach 98% digestion and absorption in the human body. Pea protein, which is originally free of flatulence factors and low allergens, is more suitable for people with a sensitive stomach.
Furthermore, the rising demand for organic-based food and innovations in protein-based products would a robust impact on the growth of the global pea protein industry. Also, the surge in demand for dairy and meat allergies estimated to trigger the growth of the pea protein market in the analysis period. The shifting of consumers towards healthy preparations, coupled with changing lifestyle trends, is booming the growth of the pea protein industry. Additionally, the growing awareness regarding the adverse effects associated with food comprising gluten and lactose is projected to drive the pea protein market in the forecast period. Recently, outbreak pandemic COVID 19 across the globe along with various stringent government lockdown measures estimated to hamper the food & beverage industry. The changing consumer perceptions towards the usage of vegetarian alternatives are likely to witness the growth of the pea protein market.
The SPER market research report of the Pea Protein market includes all integrated approaches to the growth of the market, along with an accurate & elaborate analysis of the complete competitive situation of this market on a global level. Besides the current analytical & statistical account, the report cloaks the trends market drivers, challenges, potential opportunities, which affect the market. This market report discusses the present situation to predicted trends & aspects of the growth of the Pea Protein market. Furthermore, it gives a dynamic overview & insights related to the market at both global as well as regional scales.
Global Pea Protein Market: Type Insight
Based on the type, the global pea protein market classified into Isolates, Concentrates, and Textured. The Isolates was the largest segment and accounted for the largest revenue share of the pea protein market in 2019, due to the growing usages of isolates in nutrition products, confectioneries, cereals, plant-based dairy products, and plant-based meat products.
Global Pea Protein Market: Form Insights
Based on the form, the global pea protein market classified into dry and wet. The dry pea protein segment anticipated dominating the market by 2027 due to the dry pea protein is comparatively sustainable as compared to conventional protein sources. It provides enhanced functionality, thereby increasing its range of applications.
Global Pea Protein Market: Source Insights
Based on the source, the global pea protein market categorized into Yellow Split Peas, Lentils, and Chickpeas. The chickpeas segment estimated generating maximum revenue by 2027, on account of the chickpeas has impressive nutrition profile, keeps appetite under control, a great source of plant-based protein, helps in control weight, and manages blood sugar levels.
Global Pea Protein Market: Application Insights
Based on the application, the global pea protein market segregated into Meat Substitutes, Nutraceuticals, Sports Supplements, Snacks, Functional Foods, Beverages, Bakery Products, Confectionery, and Others. The meat substitutes segment holds the largest market share in terms of revenue in 2019 and is expected to continue leading during the forecast period. It is owing to the growing use of pea protein in the meat substitutes industry, for helping in the production of meat substitute products, such as burger patties and minced meat.
Global Pea Protein Market: Regional Insight
By geography, the global pea protein market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Europe dominated the pea protein market in 2019 due to the large-scale production and consumption of plant-based products, and increasing concerns over lactose intolerances along with shifting consumer inclination toward plant-based products.
The report presents a detailed assessment of the various factors influencing the market's trajectory into 2020 and 2027. It covers all the crucial information of the leading companies operating in the global Pea Protein market. Besides highlighting the product offerings, the report also calculates revenue generated over the period and their position in the market.
REPORT HIGHLIGHTS
- Overview of key market forces restraining and propelling market growth.
- Provide demand, current & past status & also the forecasting up to 2027.
- Provide complete overview including, type, for, source, application & forecast region.
- Provide focused analysis of key service providers with their market share & also help to identify market competition landscape with SWOT analysis.
- Historical, current, and projected market size in terms of value & volume.
- Analyse the global & regional potential market, advantages, risk & opportunity.
- Identify significant factors and trends driving or inhibiting the market growth.
- In-depth coverage of the complete market in terms of supplier, buyer, price, trend, growth & forecasting.
THE REPORT COVERS ANALYSIS OF PEA PROTEIN MARKET, BY TYPE
- Isolates
- Concentrates
- Textured
THE REPORT COVERS ANALYSIS OF PEA PROTEIN MARKET, BY FORM
THE REPORT COVERS ANALYSIS OF PEA PROTEIN MARKET, BY SOURCE
- Yellow Split Peas
- Lentils
- Chickpeas
THE REPORT COVERS ANALYSIS OF PEA PROTEIN MARKET, BY APPLICATION
- Meat Substitutes
- Nutraceuticals
- Sports Supplements
- Snacks
- Functional Foods
- Beverages
- Bakery Products
- Confectionery
- Others
THE REPORT COVERS EXHAUSTIVE ANALYSIS ON
- Market Segments
- Market Dynamics
- Brands in Market
- Market Size
- Current Trends/Issues/Challenges
- Competition & Companies Involved
- Forecasting
- Technology
THE REPORT INCLUDES REGIONAL ANALYSIS ON
- North America (Canada, US, Mexico, & Rest of North America Available)
- Asia-Pacific (China, India, South Korea, Japan & Rest of Asia Pacific Available)
- Europe (Germany, Spain, France, United Kingdom & Rest of Europe Available)
- Central & South America (Brazil, Argentina & Rest of South America Available)
- Middle East & Africa (GCC Countries, South Africa, & Rest of MEA available)
KEY PLAYERS OF PEA PROTEIN MARKET
- Burcon NutraScience Corporation
- Cosucra Groupe Warcoing
- Farbest
- Tallman Foods Corporation
- Shandong Jianyan Group
- The Scoular Company
- Roquette Freres
- Yantai Oriental Protein Tech
- Sotexpro
- Fenchem Yantai Oriental Protein
- Prinova Group LLC
- Glanbia PLC
- Other Prominent Players