Pea Protein Market by Type (Pea Protein Isolate, Pea Protein Concentrate), Application (Nutrition and Health Supplements; Bakery, Cereals, and Snacks; Meat Products and Alternatives; Beverages), and Geography–Global Forecast to 2025
In terms of value, the global pea protein market is expected to reach $444.7 million by 2025, at a CAGR of 13% during the forecast period of 2019 to 2025; whereas, in terms of volume, this market is expected to grow at a CAGR of 10.2% from 2019 to 2025 to reach 338.6 thousand MT by 2025.
Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, and opportunities. The global pea protein market is majorly driven by factors such as pea protein’s functional and nutritional properties, increasing awareness about the benefits of protein and growing demand for protein rich diet, growing health & wellness trend, increasing consumers’ focus on meat alternatives, growing investments by key players, and increasing soy free and gluten free trends. Moreover, growing inclination towards vegan diet and emerging economics such as Southeast Asia, Latin America, and the Middle East & Africa provide significant growth opportunities for the pea protein suppliers in the coming years.
The study offers a comprehensive analysis of the global pea protein market with respect to various types. The global pea protein market is segmented on the basis of type (pea protein isolate, pea protein concentrate, and others), application (nutrition and health supplements; bakery, cereals, and snacks; meat products and alternatives; beverages; and others), and geography.
Based on type, pea protein isolate is estimated to hold the largest share of the overall pea protein market in 2019. The large share of this segment is mainly attributed to its high protein content as well as high emulsification and stability properties. Pea protein isolate provides key formulation functionality while helping manufacturers create in-demand, high protein products to meet consumer demand. Moreover, pea protein concentrate segment is also expected to witness significant growth during the forecast period.
Geographically, Asia-Pacific region is expected to witness a rapid growth during the forecast period. The rapid growth of this region is mainly attributed to the increasing awareness about the protein rich diet, rising health consciousness, rapidly growing food & beverages and health supplement industry, growing population and urbanization, and large base of vegan population.
The key players operating in the global pea protein market are Roquette Fr?res Le Romarin (France), AGT Food and Ingredients Inc. (Canada), Cargill, Incorporated, (U.S.), Verdient Foods Inc. (Canada), Anchor Ingredients Co., LLC (U.S.), E.I. Dupont De Nemours and Company (U.S.), Ingredion Inc. (U.S.), Kerry Group (Ireland), NOW Health Group, Inc. (U.S.), Axiom Foods Inc. (U.S.), Burcon NutraScience Corporation (Canada), Glanbia plc (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest Brands (U.S.), and Emsland Starke GmbH (Germany) among others.
Scope of the Report
Pea Protein Market by Type
- Pea Protein Isolate
- Pea Protein Concentrate
Pea Protein Market by Application
- Nutrition and Health Supplements
- Bakery, Cereals, and Snacks
- Meat Products and Alternatives
Pea Protein Market by Geography
- North America
- ·Rest of Europe (RoE)
- Asia-Pacific (APAC)
- ·Rest of Asia-Pacific (RoAPAC)
- Rest of World
- ·Latin America
- ·Middle East and Africa