Asia-Pacific Pea Protein is projected to grow at a CAGR of 8.4% during the forecast period 2020-2025.
- The health benefits of protein intake from fast muscle recovery to weigh control is driving protein uptake. Its use in functional foods in the Asian market makes it the most trending in the plant protein segment.
- Pea protein is generally used as a dairy alternative and a dietary supplement. It boasts a neutral taste and possesses a typical amino acid profile, making it a feasible choice for the food industry. Pea protein is not an allergen, such as soy, and more sustainable than nuts.
Key Market Trends
Growing Demand for Plant-based Protein
The popularity of pea protein in food products is increasing due to the shift in demand from animal protein to plant protein. This inclination toward a plant-based diet is associated with factors, such as sustainability, health, religious views, and environmental and animal rights. Moreover, the production of plant proteins is considered more environmentally economical than animal proteins. Thus, government associations around the world are also encouraging the consumption of sustainable and vegetarian food sources.
China holds a Prominent Share in the Market Studied
China is the biggest market followed by Japan, Australia, and India. Australian markets and buying patterns are different from the remaining Asia-pacific countries. It more closely resembles the western market trends. The market though is not driven by impulse, but by an economically strong and highly aware consumer base. China occupies the leading market position, with India and Japan being other important high pea potential markets. Historic trust is placed in alternative medical practices and the use of naturally derived locally sourced materials. The marketing and positioning of the product on these lines would ensure the long-term success of the market. The emergence of pea protein as a value-added product from a traditionally direct-consumption market will considerably enhance the growth prospects of pea processors and food manufacturers in North America and China.
Roquette, A&B Ingredients, and Axiom Foods are some of the many companies with major market shares in the segment. Companies are focused on setting up their manufacturing units in the market due to rising consumer demand. New entrants, in spite of heavy competition from major players, are targeting potential markets due to the high profits associated with the industry. Ojio Organic Pea Protein Powder in smoothies and shakes for a healthy dose of protein and iron. Companies have engaged in extensive scientific research in order to identify better varieties and economically feasible process.
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