Global Pea Protein Market is expected to reach USD 313.5 billion by 2025. Peas are the seeds from pod fruit pisum sativum, rich in protein that plays important role in animal feed and human food. It has a great amino acid profile. It is obtained by refining proteins in yellow peas. It helps to reduce cholesterol, increase muscle, lower blood pressure, and improve satiety. Moreover, 55-65% pea proteins are globulins and 18-25% albumins and the pea plant improves soil fertility.
About 22-23%, proteins are found in pea seeds. Main pea storing proteins, convicilin, legumin, and vicilin are globulins and represent 65-85% of total proteins. The Pea Protein Market is estimated to grow at a significant CAGR of 17.4% over the forecast period as the scope and its applications are rising enormously across the globe.
Changing lifestyle by accepting healthier lifestyle, rising anxiety towards lactose intolerance, expansion of nutraceutical industries, and high demand for gluten free products are documented as major factors of Pea Protein industry that are estimated to enhance the growth in the years to come. However, lack of awareness among populace regarding pea protein may restrain overall market growth in the coming years. Pea Protein Market is segmented based on type, form, application, and region.
Textured, isolates, concentrates, and other types could be explored in Pea Protein industry in the forecast period. Isolates sector estimated to lead the overall market with substantial market share in the coming years. This may be because of its use as texturizing agents in meat goods as it has good water-binding characteristics, high amino acid content, high solubility, and extraordinary emulsification.
The two main forms of Pea Protein are wet textured and dry textured that could be explored in the forecast period. Dry textured pea protein sector accounted for the substantial market share of Pea Protein and is estimated to lead the overall market in the coming years. This may be because of rising use in bakery products, nutritional health supplements, and meat. In addition, liquid textured sector is estimated to grow at fastest pace in the years to come.
The market may be categorized based on applications like snacks & bakery products, beverages, dietary supplements, meat extenders & analogs, and others like confectionery & meat enhancers could be explored in the forecast period. Dietary supplements sector accounted for the substantial market share of Pea Protein in terms of volume and is estimated to continue its dominance in the coming years.
This may be because of expansion of nutraceutical industry in developing countries, growing awareness among populace regarding nutritious and healthy diet, and rising domestic consumption of nutritional supplements. Also, bakery sector is estimated to grow at fastest pace in the coming years.
Globally, North America accounted for the substantial market share of Pea Protein in terms of volume and value and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be high demand for gluten free products in the United States, increasing concern regarding cardiovascular diseases, and growing sports nutrition industry.
Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost period. The aspects that may be ascribed to the growth comprise rising awareness among food & beverage producers and high demand in developing countries like India and China as pea protein have high nutritional value.
The key players of Pea Protein Market are Sotexpro, A&B Ingredients, Nutri-Pea Ltd., Farbest Brands, Axiom Foods Inc., Roquette Freres, and The Scoular Company. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.
Pea Protein Product Outlook (Volume, Tons; Revenue, USD Thousand; 2014 - 2025)
Pea Protein Form Outlook (Volume, Tons; Revenue, USD Thousand; 2014 - 2025)
Pea Protein Application Outlook (Volume, Tons; Revenue, USD Thousand; 2014 - 2025)
• Meat extenders & analogues
• Bakery Goods
• Dietary Supplements
Pea Protein Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
Research Support Specialist, USA