Sarasota, FL, May 04, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Pea Protein Market by Product (Isolates, Concentrated, and Textured) and by Application (Dietary Supplements, Bakery Goods, Meat Substitutes, Beverage, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global pea protein market was valued at approximately USD 25.00 million in 2016, is expected to reach above USD 39.50 million in 2022, growing at a CAGR of around 8.00% between 2017 and 2022.
Pea protein products can act as a replacement for a major portion of other proteins in the wide range of food products without having any effect on the taste, color, or texture of the product and in some cases can offer potential cost savings. Pea protein is preferred over other available options because it has no gluten or diary. Pea protein is easy to digest and does not cause bloating; a common problem with other protein powders.
Browse through 16 Market Tables and 17 Figures spread through 110 Pages and in-depth TOC on “Global Pea Protein Market: Product, Application, Type, Size, Share, Trends, Brands, Analysis, Segment and Forecast 2016 – 2022”.
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Global pea protein market is primarily driven by increasing preference towards a vegetarian diet. Other major driving factors for the growth of pea protein market are increasing concern for health and wellness coupled along with heavy investment in research in development by pea protein manufacturing companies. However, lack of awareness among end users is a major restraint that may curb the growth of the market. Nonetheless, technological advancements in extrusion and processing and emerging markets across the globe are likely to disclose the new avenues for pea protein market in the near future.
The pea protein market can be segmented on the basis of product type into, concentrated and textured pea protein. Textured pea protein contains the highest amount of protein in comparison with isolated and concentrated. Textured pea proteins are growingly used as dietary supplements while concentrates are mainly used in aquafeed. Based on application, the pea protein is segmented into dietary supplements, bakery goods, meat substitutes, beverage, and others. In 2016, dietary supplements segment held the largest share of pea protein market. As a result of increasing awareness for fitness, the demand for dietary proteins is on the rise which in turn is expected to boost the demand for pea protein.
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North America was the largest pea protein market in 2016 and is expected to maintain its position in the forecast period. The market is mainly driven by the increasing demand for gluten-free products in this region especially in the U.S., and increasing demand for sports nutrition diet in this region.Moreover, numerous food & beverage manufacturers in North America have expanded their product line by launching innovative products as a result of increasing production of a yellow pea in Canada. Europe was the second largest consumer of pea protein in 2016. This was mainly due to the shifting preference towards plant-based protein. North America and European region are expected to hold their position during the forecast period.
While Asia pacific is expected to be the fastest-growing region for pea protein market owing to growing demand for meat substitute and allergen-friendly sports & fitness supplements. Moreover, favorable regulatory inclination for agriculture industry especially in India and China ensures supply of ample raw material for pea protein production is also expected to boost pea protein market in this region.
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Latin America is expected to exhibit worthwhile growth in the pea protein market owing to growth in Brazil. Brazil is expected to be the leading pea protein market in the forecast period owing to its fastest pace in developing pea protein industry. The Middle East and Africa are likely to witness decent growth in the coming years.
Some of the key players in the pea protein include RoquetteFreres, A&B Ingredients, Farbest Brands, Axiom Foods Inc., Nutri-Pea Ltd., The Scoular Company, SotexproBurconNutraScience Ltd., Consucra-GroupeWarcoing among others. Due to the presence of several manufacturers in protein powder market, there has been intense competition among the players to sustain in the market. Product innovation is the key strategy practiced by the majority of the players to maintain their sales.
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This report segments the cheese market as follows:
Pea Protein Market: Product Analysis
- Isolates
- Concentrated
- Textured
Pea Protein Market: Application Analysis
- Dietary Supplements
- Bakery Goods
- Meat Substitutes
- Beverage
- Others
Pea Protein Market: Regional Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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