The Global Pea Protein Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Global Pea Protein Market is estimated to be $40.50 USD million and predicted to rise to $ 60.90 USD million with a CAGR of 8.5%. The market is segmented by Type (concentrated, isolated, textured), by Application (snacks & bakery products, meat extenders, meat substitute, food & beverages, other food application). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The market for Pea Protein is mainly increasing due to increasing awareness about the nutritional benefits of Pea Proteins, along with an increasing health consciousness. Also, the demand for Pea Proteins is increasing due to its non-allergen and non-GMO nature, due to which customers are preferring these over other artificial food protein products. These factors are driving the market for Pea Proteins globally. Though, high costs of Pea Protein and stringent regulations by Food Administration bodies might constrain the market growth.
The global pea protein market is segmented on the basis of type, application and region. On the basis of type, the pea protein market is segmented into concentrated, isolated and textured. In addition, textured pea protein is sub-segmented into wet and dry. Furthermore, on the basis of application the market is segmented into snacks & bakery products, meat extenders, meat substitute, food & beverages and other food application. Meat substitute segment is likely to grow at a significant rate over the forecast period compared to other areas.
On the basis of geography, the global pea protein market is analysed under various regions namely, North America, Europe, Latin America, Asia-Pacific and Middle-East and Africa. North America is the largest market for pea proteins accounting for almost 35% of the total pea protein market. In Europe, rising concerns towards lactose intolerance along with shifting inclination towards plant-based protein, is fuelling the market growth. Asia Pacific is the fastest growing market for pea proteins due to rising consumption of nutrient rich food products.
Major players in pea protein market are recurrently investing in R&D to develop new extrusion technologies for protein extraction. The companies are also involved in agreement and partnership with various companies in order to expand portfolio and global presence. Some of the key players operating in Global pea protein market are A&B Ingredients, Axiom Foods, Inc., Consucra-Groupe Warcoing, Burcon NutraScience Ltd., Roquette Freres and Nutri-Pea Limited
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