New York, NY, Nov. 13, 2020 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Pea Protein Market By Type (Isolates, Concentrates, and Textured), By Form (Dry and Wet), Source (Split Yellow Peas, Lentils, and Chickpeas), By Application (Meat substitutes, Performance nutrition, Functional foods, Snacks, Beverages, Bakery products, Confectionery), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.
According to the research study, the global Pea Protein Market was estimated at USD 650 million in 2019 and is expected to reach USD 1450 million by 2026. The global Pea Protein Market is expected to grow at a compound annual growth rate (CAGR) of 12% from 2020 to 2027.
The global key focus is shifting towards convenience food. The spending on convenience food is surging due to a lack of time available to cook and a rise in disposable income. Additionally, the trend towards veganism is anticipated to raise demand for pea and pea-based products.
Pea protein is one of the prominent protein which is obtained from the yellow peas. It is predominantly used by the café owners in the shakes and smoothies. It is also an important part of the diet of veganism following people. It is used as a supplement due to high iron and protein availability. The powder obtained from pea protein helps in catalyzing metabolism and lowers the blood sugar level in the human body.
Browse through 34 Tables & 98 Figures spread over 180+ Pages and in-depth TOC on “Global Pea Protein Market: By Type, Size, Share, Trends, Companies, Trends, and Forecasts, 2020–2026”.
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The trend for fitness is increasing across the globe. Two and a half hours of moderate-intensity physical activity per week is the minimum level of physical activity recommended by the World Health Organization (WHO) for adults aged 18 or over. Pea protein plays a vital role in bodybuilding and fitness. It has branched-chain amino acids that help to build human muscles. An increase in lactose intolerance is shifting end consumers towards gluten-free food. Additionally, the celiac ailment is a long-lasting intestinal disorder causing a resistant response to a gluten protein. As per the data published, around 1% of the American population is suffering due to celiac disease. In Europe, around 3 million people in Europe are affected by celiac disease. The pea protein is a gluten-free product that can be effectively consumed by consumers suffering from celiac disease.
The rise in the trend towards fitness is propelling the enormous demand for protein which is likely to drive the pea protein market size in the forthcoming years. Moreover, it not only helps to maintain human metabolism but also reduces the blood sugar level. As per the data published by WHO, more than 420 million global population suffer from diabetes and 1.6 million meet to death due to diabetes. The consumption of pea protein powder to lower the sugar level in the body is estimated to drive the demand for the pea protein market. To ensure the right balance of the earth a significant population is leaning towards veganism which is likely to create a lucrative opportunity for the pea protein industry. On the other hand, stringent environmental regulation to limit the output is hindering the growth of the pea protein market.
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Top Market Players
The key market players operating in the global protein market are, Ingredion, Batory Foods, Kerry Inc., Rouquette Freres, ET-Chem, Ltd., Puris Foods, Shandong Jianyuan Foods Co., Fenchem Inc, Glanbia PLC, Yan Tai Shuang Ta Food Co., Ltd., Emsland Group, AGT Foods, A&B Ingredients, and SotexPro. The few prominent leading players of the pea protein market are The Scoular Company, Fenchem Inc, Ingredeion Inc., and Emsland Group. These companies occupy the major share of the pea protein market.
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Market Drivers:
The Pea Protein market share is found to experience significant growth owing to the increasing use of bakery goods, dietary supplements, and beverages that are anticipated to drive the market. The rising demand for an alternative for meat and the growing concerns of lactose intolerance among grown-up has increased the demand for gluten-free products, thereby fuelling the growth of the Pea Proteins market. Additionally, the surging awareness concerning nutrition amelioration and inclination of people toward vegetarian foods is expected to drive the global Pea Protein market. The increasing expenditure on convenience food products, the importance of a flexitarian diet likely plays a crucial role in enhancing the product demand.
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Market Segment Dominance:
- Isolates category is estimated to hold the majority of the market share in the Pea Protein market
The isolate category is projected to dominate the global Pea Protein market owing to its increasing use in enhancing the performance of nutrition products, cereals, confectioneries, and plant-based dairy & meat products.
·Meat substitutes category is anticipated to hold the largest share in the global Pea Protein market
The rising demand for meat substitutes, low processing costs, and easy storage have increased pea proteins’ acceptance in the plant-based meat market, thereby enhancing the market growth.
- The dry category is expected to dominate the market
The dry category is expected to lead the global Pea Protein market owing to its rising use for various applications. In addition, its properties such as sustainability and improved functionality supplement the Pea Protein market expansion during the forecast period.
Browse the full “Pea Protein Market By Type (Isolates, Concentrates, and Textured), By Form (Dry and Wet), Source (Split Yellow Peas, Lentils, and Chickpeas), By Application (Meat substitutes, Performance nutrition, Functional foods, Snacks, Beverages, Bakery products, Confectionery), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/global-pea-protein-market-by-type-isolates-concentrates-626
Based on the form-based segmentation worldwide pea protein market, segmented into wet and dry categories. The dry category is one of the prominent categories headed to occupy more than 50% of the pea protein market. The use of dry category as nutritional supplements is driving the growth of the segment. Based on source-based segmentation market is divided into split yellow peas, chickpeas, and lentils. Chickpeas are the prominent source of extracting protein which is holding a significant share of the worldwide pea protein market. Additionally, in the terms of application, the pea protein market is bifurcated as meat substitutes, confectionery, bakery products, performance nutrition, beverages, snacks, and functional foods. Performance nutrition is one of the largest consumed categories of the pea protein market. The use of pea protein in various nutritional products is generating significant demand for pea protein.
Pea Protein Market: Analysis on the Basis of Region
On the basis of region, the market is segmented as North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Europe and North America are leading the worldwide pea protein market followed by other regions.
Regional Dominance:
- Europe is expected to dominate the global pea protein market during the forecast period
Europe is expected to lead the global Pea Protein market due to factors such as high production & consumption of plant-based products and high raw material costs. In addition, the rising awareness regarding the benefits of pea protein and manufacturers complying with standards introduced by the EU regarding non-GMO products is likely to boost the expansion of the pea protein market in Europe.
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The taxonomy of the Pea Protein Market by its scope and segmentation is as follows:
Global Pea Protein Market: Type Segmentation Analysis
- Isolates
- Concentrates
- Textured
Global Pea Protein Market: Form Segmentation Analysis
- Dry
- Wet
Global Pea Protein Market: Source Segmentation Analysis
- Split Yellow Peas
- Lentils
- Chickpeas
Global Pea Protein Market: Application Segmentation Analysis
- Meat Substitutes
- Performance Nutrition
- Functional Foods
- Snacks
- Beverages
- Bakery Products
- Confectionery
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