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Pea Protein Market Estimated to Gain USD 54.32 Million by 2027 | Reports and Data

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Pea Protein Market Estimated to Gain USD 54.32 Million by 2027 | Reports and Data

February 15
15:14 2021
Pea Protein Market Estimated to Gain USD 54.32 Million by 2027 | Reports and Data
Rising demand for gluten-free foods and increasing demand for pea protein-infused products, especially among fitness enthusiasts, majorly boost the market growth. Market Size – USD 33.31 Million in 2019, Market Growth – CAGR of 6.1%, Market Trends – Rise in health consciousness among consumers worldwide

The global pea protein market is expected to be valued at USD 54.32 Million in 2027 from USD 33.31 Million in 2019, registering a CAGR of 6.1% through the forecast period. Pea protein is a rich source of protein derived from yellow and green split peas. It acts as a protein supplement and enhances the nutrient intake of an individual. Pea protein, typically known for its high nutritional value and low allergenicity, is widely available as powdered supplements. The protein helps reduce body weight and augment muscle mass, and it can also be used as a specialty and functional food ingredient in various food items. It is extensively used in meat substitutes, such as plant-based meat patty, confectionery, cereals, protein bars, and high-performance nutritional beverages. Pea protein isolates contain the highest protein concentration and are thus used in sports nutrition products to improve sports professionals’ athletic performance.

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The global pea protein market is poised to account for a significantly high revenue over the forecast period. The most fundamental factors propelling the growth of this market include a rise in the vegan population, increasing adoption of functional food ingredients, growing awareness about the health benefits of pea protein, and the rising usage of pea protein in sports nutrition products, health drinks, nutraceuticals, and meat alternatives. The growing prevalence of lactose intolerance among consumers, the surging use of pea protein isolates in meat substitutes, rising health & fitness trends, and augmented spending on nutritional supplements are the other vital factors stimulating the market growth.

Key findings of the report:

  • Based on type, the pea protein isolates sub-segment is estimated to record the highest CAGR of 7.6% over the projected period. Pea protein isolates are highly digestible and rich in leucine, glutamine, arginine, and essential amino acids. Hence, these are most widely used in health supplements, bakery products, and vegan foods.
  • In terms of application, the nutritional supplements sub-segment is projected to register a significant 6.9% CAGR over the forecast period. The growing health awareness among consumers, increasing adoption of healthy diets, and a surge in demand for nutritional supplements, such as nutraceutical tablets, syrups, energy drinks, and cereal bars, fuel this segment’s growth. 
  • The North American pea protein market has emerged as the leading regional market, accounting for a staggering 40% market share in 2019. The market growth in this region is attributed to the thriving sports & fitness industry, rising health concerns, increasing acceptance of healthy lifestyles and fitness practices, and the amplifying demand for plant-based food products.
  • The key market competitors include Nutri-Pea Limited, Roquette Frères, World Food Processing LLC., Cosucra Groupe Warcoing, Sotexpro, Glanbia Plc, Fenchem Biotek Ltd, Prinova Group LLC, Axiom Foods Inc., Burcon Nutrascience, Suzhou Wanshen Flour Products Co., Yantai Shuangta Food Co., AGT Food & Ingredients, Inc., Yantai T Full Biotech Co. Ltd., Yantai Shuangta Food Co, Shandong Huatai Food, Shandong Jianyuan Foods Co Yantai Oriental Protein Tech Co., and Shandong Jindu Talin Foods Co.
  • In January 2020, Roquette Frères, a renowned France-based specialty food company, joined hands with Beyond Meat for the large-scale supply of its organic pea protein for the plant-based meat products of the American restaurant chain.

 

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For the purpose of this report, the global pea protein market has been segmented on the basis of type, form, application, distribution channel, and region:

By Type (Volume, Kilo tons; Revenue, USD Million; 2017-2027)

  • Isolates
  • Concentrates
  • Textured

By Form (Volume, Kilo tons; Revenue, USD Million; 2017-2027)

  • Powder (Dry)
  • Paste (Wet)

By Application (Volume, Kilo tons; Revenue, USD Million; 2017-2027)

  • Beverages
  • Nutritional supplements
  • Bakery products & snacks
  • Confectionery
  • Meat substitutes
  • Others

By Distribution Channel (Volume, Kilo tons; Revenue, USD Million; 2017-2027)

  • Supermarkets
  • Health & Wellness Stores
  • Online Stores
  • Others

By Region (Volume, Kilo tons; Revenue, USD Million; 2017-2027)

  • North America
    • U.S.
    • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • BENELUX
      • Rest of Europe
      • Asia Pacific
        • China
        • Japan
        • South Korea
        • Rest of Asia Pacific
        • Latin America
          • Brazil
          • Rest of Latin America
          • Middle East & Africa
            • Saudi Arabia
            • U.A.E.
            • Rest of Middle East & Africa

Table Of Content:
Chapter 1. Market Synopsis
    1.1. Market Definition
    1.2. Research Scope & Premise
    1.3. Methodology
    1.4. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
    3.1. Macro Indicators
          3.1.1. Increasing health consciousness among individuals
          3.1.2. Booming sports nutrition industry
          3.1.3. Growing consumption of pea protein as an alternative to milk, soy, wheat, or egg
Chapter 4. Pea Protein Market Segmentation & Impact Analysis
    4.1. Pea Protein Segmentation Analysis
    4.2. Pea Protein Market Value Chain Analysis, 2018-2026
    4.3. Regulatory Framework
    4.4. Recent Developments
    4.5. Pea Protein Market Impact Analysis
         4.5.1. Market Driver Analysis
                 4.5.1.1. Rising adoption of vegan and vegetarian food among the western population
                 4.5.1.2. Technological advancements in extrusion & processing
                 4.5.1.3. Changing consumer lifestyles and rising health concerns
                 4.5.1.4. Rising health awareness and increasing demand of gluten free products
                 4.5.1.5. Growing inclination towards preventive healthcare among developing economies
                 4.5.1.6. Increasing usage in the sports nutrition industry
         4.5.2. Market Restraint Analysis
                  4.5.2.1. High prices of pea protein ingredients
                  4.5.2.2. Price fluctuations due to inconsistent supply
    4.6. Key Opportunities Prioritized
    4.7. Pea Protein Competitive Scenario
    4.8. Price Trend Analysis

Continue…

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