January 17, 2019: Adroit Market Research’s new study on the, “Global Pea Protein Market Size 2017, Segmentation By Product Type (Textured, Isolated, Concentrated), By Application (Meat Substitutes, Dietary Supplements, Bakery Food, Beverages, Others), By Region (Asia Pacific, North America, Central and South America, Europe, Middle East and Africa), And Forecast From 2018 to 2025”, offers an exhaustive outlook of the pea protein trends.
The report includes pea protein market trends and forecast estimates by volume (thousand tons) and revenue (USD million). The report on global pea protein market size and trends includes categorization by application, product type, and region. The research study further includes pea proteins market growth and analysis from 2015 to 2025, for each of the aforementioned regions and key countries including the U.S., Germany, UK, Japan, India, China, and Brazil. Key market drivers, opportunities, and restraints along with an in-detail PESTEL and Porter’s Five Forces analysis are other highlights of the pea protein ingredient market report.
The global pea protein market size is estimated to cross USD 150.0 million by 2025. Shifting consumer food habits and increased intake of ready-to-eat baked goods, snacks and savories have led to a strong expansion of the food retail service sector especially in the US, Asia Pacific, and Middle East and Africa. This scenario has further boosted product innovations in terms of improved nutritional value and aesthetics.
Impossible Foods and Beyond Meat are the manufacturers of plant based meat substitutes that have recently gained recognition for innovations in the development of beef meat alternative, plant-based products. For instance, Beyond Meat, a plant based meat substitute firm launched “Beyond Burger” in 2018. This vegan burger comprises pea protein and induces a taste similar to beef meat. These product innovation trends are likely to create a positive impact on the global pea protein market size by the end of 2025.
The pea protein isolate market is projected to rise at the fastest CAGR of more than 7% during the forecast period. Rising product consumption in the processing of high protein bakery products such as bread, granola and protein bars, and extruded products is considered to be a key supporting factor of the pea protein isolate market. This scenario is anticipated to continue in the future, especially in Europe, North America, and Asia Pacific.
Consumption of pea protein concentrates is expected to increase pea protein market growth over the next few years mainly in Asia Pacific, owing to increasing consumer adoption of lifestyles that support overall wellbeing and weight management. Regional players such as Axys Nutrition Products Pvt. Ltd. offers Nutrova, a pea protein concentrate aimed at fitness and weight management. This product is made from gluten-free and lactose-free protein sources and is completely vegan.
The afore-mentioned pea protein market trends are expected to create opportunities for new players during the forecast period. However, product portfolio diversification of food ingredient giants such as Burcon NutraScience Corporation, Cosucra-Groupe Warcoing, and Roquette Frèrers are expected to intensify the rivalry in the pea protein ingredient market over the years ahead.
Key segments of the global pea protein market trends study
Product Type Overview, 2015-2025 (Tons) (USD Thousand)
Application Overview, 2015-2025 (Tons) (USD Thousand)
- Meat Substitutes
- Dietary Supplements
- Bakery Foods
Regional Overview, 2015-2025 (Tons) (USD Thousand)
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Central and South America
- Rest of Central and South America
- Middle East and Africa (MEA)