Pea Protein Market:
Growth opportunities in the pea protein market look promising over the next six years. This is mainly due to the increasing popularity of veganism across the globe, widespread acceptance of pea protein in food manufacturing, especially in confectionery and functional food, and the growing awareness about pea protein's health benefit.
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Pea Protein Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The surging consciousness related to the health benefits of pea protein among millennial consumers is the key driver stimulating the growth of the global pea protein market. The altering consumer preference for food due to changing trends in favor of fitness and health is further contributing to the market growth. The expansion in the veganism population throughout the world will result in the demand for pea protein over animal-based protein, thereby fuelling the market growth. Also, factors like taste, clean label, ease of digestion, and natural product are anticipated to strengthen the pea protein market share. Moreover, the use of pea protein in the manufacturing of food, mainly supplements, functional foods, and confectionary, is driving the market demand. However, the accessibility of alternative protein products may curb the pea protein market size.
Product Type Segment Drivers
Based on the product type, isolate is expected to lead the market over the forecast period because of the augmenting application in the manufacturing of various products, such as cereals, plant-based dairy and meat products, and confectioneries. Moreover, they are high-quality and protein-rich substitutes for lactose-intolerant, vegans, and vegetarians' individuals. The high quantity of amino acids along with glutamine, leucine, and arginine present in them will further contribute to market growth.
Regional Drivers
Based on the regional coverage, Europe is predicted to lead the market during the forecast period. This is attributed to the extensive production and consumption of plant-based protein. Further, the augmenting awareness concerned with pea protein benefits across consumers is propelling the market growth. On the other hand, Asia Pacific is projected to witness a faster CAGR over the forecast period due to the increasing consumption of nutrient-rich-function food products. The rising demand for allergen-friendly sports & fitness supplements and meat substitutes will contribute to the market growth. Furthermore, the strong production base of the food & beverage industry in China, because of the accelerating domestic consumption and raw material availability which is projected to boost the market growth.
Pea Protein Market’s leading Manufacturers:
Glanbia
Shandong Jianyuan Foods Co.
Axiom Foods
The scoular company
A&B Ingredients
PURIS
Farbest Brands
Yantai Shuangta Food Co.
Cosucra Groupe Warcoing
Roquette Frères
Pea Protein Market Segmentation:
Segmentation by Product Type:
Isolated
Concentrated
Textured
Segmentation by Form:
Dry
Liquid
Segmentation by Application:
Meat Products
Dietary Supplements
Bakery goods and Snacks
Others
Segmentation by End-User:
Online Stores
Supermarkets
Specialized Stores
Others
Segmentation by Region:
North America
United States of America
Canada
Asia Pacific
China
Japan
India
Rest of APAC
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
Rest of the world (remaining countries of the LAMEA region)
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