Market Overview

Global pea protein market is forecasted to reach USD 49.51 million by 2024 growing at a CAGR of 8.9% during the forecast period (2019 - 2024).

- As the vegan diet is given preference among a large section of developed economies such as European Union, US, and Canada, the market for pea protein along with other vegetable proteins has been increasing as an alternative source of protein. Among various vegetable protein, the good nutritional profile of pea protein is responsible for its growth in market share.
- Pea protein also has a limited amount of allergen, which makes it an obvious choice for people who are milk/meat intolerant. Increasing western influence is also increasing the pea protein market in developing nations.

Scope of the Report

Global pea protein market offers different forms of pea protein including protein isolate, protein concentrate, and textured protein broadly applicable to meat extender and substitute, nutritional supplement, beverage, snacks, other industries. The study also covers market insights at the global level.

Key Market Trends

Textured Pea Protein Dominates the Pea Protein Market

Textured proteins are excellent sources of protein and fibre. Many public schools in North America are using textured vegetable proteins as a food source in the breakfast and lunch programs. It meets standards of nutrition but is economical as well. Plain textured proteins have zero cholesterol. The potential market application for textured pea protein includes meat alternatives and extenders. The textured pea proteins segment is further divided into dry textured and wet textured protein based on their extraction form. The textured pea protein segment is estimated to be the fastest growing type due to its application as meat analogues, extenders & substitutes in Hamburger, ground meat, stuffing, sausages, vegetarian products, Bolognese sauces, pizza dressing and nuggets.

North America Dominates the Market

North America is the largest market followed by Europe. Asia-Pacific is an emerging market in the sector due to its increasing health conscious and western influenced populations. South American and Asian developing countries present the most attractive markets due to larger younger populations that are employing. Pea protein is used extensively because of its nature that helps in bodybuilding and also acts as excellent dietary supplements. The pea protein market is an integral part of the food & beverage industry. It’s driven by the rising demand for processed and healthy food products. It is also an alternative to meat food, which is gaining popularity in the western regions.

Competitive Landscape

Some of the active players in the market are Roquette Freres, and The Scoular Company etc. The major players are investing huge amounts in R&D sector to come up with new products and are majorly focused on making agreements and partnerships with either large-scale manufacturers or small scale manufacturing units for expansion of their pea protein business in local as well as in the international markets.

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