Pea protein is a plant based protein extracted from yellow pea or Pisum sativum. It can be used as a dairy alternative for cheese and yogurt. It is gluten free and rarely cause allergies to consumers, which is driving its market by replacing egg protein and wheat protein. Moreover, owing to its functional attributes and appealing nutritious profile, the food and beverage industry is attracted to the pea protein. Its diverse applications in the food products and sports supplements is adding fuel to the growth of the pea protein ingredient market. Additionally, it is used as an additive in animal feed to improve nutritious quality of the livestock feed.
Pea protein is a plant based protein with neutral taste and is available in dry as well as liquid form. It is used as a nutritional additive in food and beverages. This has increased its application in various industry sectors such as meat extenders, bakery products, dietary supplement, functional beverages and various packaged products. Rising awareness among consumers for healthy and nutritious diet is driving the growth of the market. Additionally, growing concerns over meat allergies have boosted the pea protein ingredient market to meat protein substitute product. Moreover, increasing vegan population is adding fuel to the product demand preferring it over the animal protein.
Furthermore, the growth of food and beverage industry will surge the market of pea protein ingredient. Also, it is gaining popularity among consumers owing to its cost-effectiveness over other alternatives in the market such as soy, wheat, canola, and others.
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Major Key Players:
The Major Players in the Pea Protein Ingredient Market,
- Axiom Foods, Inc. (U.S.)
- A&B Ingredients. (U.S.)
- COSUCRA (Belgium)
- Sotexpro (France)
- Cargill Inc. (U.S.)
- CHS Inc. (U.S.)
- Nutri-Pea Limited (Canada)
Pea protein ingredient market is gaining growth rapidly with its application in wide range of products which is attracting new players in the market. Moreover, focus on R&D and surge of technologies will boost the pea protein ingredient market over the forecast period 2017-2023.
Application of pea protein ingredient is expected to grow rapidly in the dietary supplement sector.
Canada, Russia, China, India, and the U.S. are the major producers and exporters in the pea protein ingredients market.
Pea protein ingredients is segmented by products including isolates, concentrates, textured and others. Among all, isolates are dominating the market followed by concentrates. It is used as a texturizing agents in meat goods and comprise major share of protein contents than others. Moreover, concentrates are gaining popularity as sports supplement for its benefit of weight control.
On the basis of form, pea protein ingredients market are segmented as dry, wet and others. Dry form is holding a major share in the market for its vast applications in meat extenders, health supplements and bakery products. Moreover, liquid form is expected to grow due to its ease of getting blended in the food products.
Based on the application, it is segmented into dietary supplement, animal feed, food and beverages including meat substitute, functional beverages, bakery products, packaged goods and others. Among all, dietary supplement is dominating the market due to inclination of consumers towards health conscious diet and consumption of sports supplement.
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Global Pea Protein Ingredient Market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America is dominating the global market of pea protein ingredients followed by Europe. The changing lifestyle followed by inclination of consumers towards sports supplement in North America drives the market for pea protein ingredient in this region. Moreover, rising concerns towards lactose intolerances is growing its market as dairy substitutes for cheese and yogurt in European market. Additionally, shifting consumer preference towards plant-based proteins in Europe have surged the market of pea protein ingredient in this region.
Furthermore, Asia Pacific is anticipated to be the fastest growing region in the global pea protein ingredient market with changing lifestyle followed by increasing awareness among consumers about healthy diet. Moreover, growth of the sports supplement sector in Argentina, Brazil, and Chile have a positive impact on the market.
Pea protein market is segmented on the basis of products, form, application and region.
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