Pea Protein Market demand forecast of over 33 kilo tons by 2023: Global Market Insights Inc.
“Pea protein market share is mainly accounted for by Roquette Freres, Burcon NutraScience, Nutri-Pea Limited, and Cosucra Groupe Warcoing. Burcon has worked on products that help in fortifying juices, sports drinks, soft drinks, etc. France-based Roquette partnered with World Food Processing (WFP) in 2014, wherein the latter would manufacture Roquette pea protein in the U.S., on account of high regional demand.”
“Pea Protein Market Size By Product (Concentrate, Isolate, Textured), By Application (Nutraceuticals, Meat substitutes, Sports Supplements), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023”
Pea Protein Market size was evaluated at 11.6 kilo tons for 2015 with demand forecast of more than 33 kilo tons by end of 2023 and CAGR predicted to be around 13.6% during forecast timeframe. Growing healthcare consciousness is predicted to enhance the industry size during forecast period. Other advantages of pea protein consumption are substantial iron contents, allergen friendliness and branched amino acids.
Pea proteins are easily digestible and allergies to protein constituents are rarely observed among the consumers. Positive pea protein market price trend and price efficacy over its equivalents are few of the factors predicted to fuel industry expansion in future.
Less adoption of protein sources except soy is predicted to inhibit industry expansion. Low degree of versatility of these protein constituents can also hinder the demand of the industry.
Pea protein products are segmented into pea protein isolates, textured pea proteins and pea protein concentrates depending upon protein proportion.
Pea protein isolates segment contributed greater than 40% of the total industry share for 2015 and is predicted to dominate the product segment. It is predicted to register CAGR of 13.9% and exceed 14.6 kilo tons size by end of forecast period. Increasing use of these products is observed in food & beverage sector owing to its emulsifying features and non allergy characteristics.
Textured pea protein segment has experienced rising acceptance in food supplements and beverages due to high fiber content. It is predicted to produce revenue of more than $35 million by end of forecast timeframe.
The key applications of the pea proteins include meat substitutes, food supplements, food & beverages and sports supplements.
Pea protein market share for meat substitute application was more than 34.5% in 2015. The factor contributing to the growth of the segment was increasing preference for protein rich food among the consumers leading to more consumption of meat substitutes.
Global size in sport supplements application is predicted to register CAGR of 13.7% during forecast timeframe. Products like ready to drink beverages, nutrition bars and snacks containing pea protein constituents are few factors predicted to contribute towards the segment growth. These constituents consist of glutamine and lysine which help to preserve nitrogen proportions during workouts. Further, it also consist arginine that helps maintain health of heart and act as a stimulant for metabolism of heart muscles.
APAC is predicted to register highest growth of 16.91% during forecast timeframe. Key drivers include growing vegetarian population, use of innovative extraction methods and increasing research & development activities taken by many firms based in the region.
U.S. pea protein market share is predicted to grow owing to demand for sustainable and healthy products having good taste and pleasant texture. Introduction of gluten-free products consisting pea proteins as their key constituents supports industry growth in the region. North American region is predicted to contribute more than 30% to the total revenue share of the global pea protein market in future.
Read full market research report “Pea Protein Market Size By Product (Concentrate, Isolate, Textured), By Application (Nutraceuticals, Meat substitutes, Sports Supplements), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023”, please click on the link below:
Key industry players profiled in the report include Fenchem, Martin & Pleasance, Scoular Company, Cosucra Groupe Warcoing, Nutri-Pea Limited, Shandong Jianyuan Foods Company Limited, Burcon Nutrascience Corporation, Roquette Freres, Sotexpro, Yantai Oriental Protein Tech Company Limited and Prinononeoldings LLC.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.