The Global Pea Protein Market is expected to reach USD 313.5 million by 2025, according to a new report by Hexa Reports. Increasing consumption of gluten-free products for treatment of celiac disease is expected to boost the pea proteins demand during the forecast period.
Rising concerns over non-celiac gluten sensitivity is expected to result in rising consumption of gluten-free foods and is hence anticipated to positively impact the industry growth. Furthermore, the popularity of maintaining a gluten-free diet (GFD) owing to reduced carbohydrate intake and stimulation of weight loss is anticipated to propel the use of pea proteins over the forecast period.
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Increasing importance of maintaining a GFD in treating innate immune response, joint pain, and numbness is foreseen to fuel the product demand in the future. Furthermore, this diet is gaining popularity as an effective treatment for curing symptoms of autism in children. This in turn is expected to drive the pea protein demand over the forecast period.
Significant prevalence of lactose intolerance among infants and children in developing regions such as Central & South America, Asia Pacific, and Middle East & Africa is projected to be another significant driver of the industry growth. Pea protein is one of the highly preferred non-dairy substitutes, as it is characterized by good amino acid profile and is easily digestible. These attributes make the product favorable for use in various food & beverage products such as protein fortified health drinks and sports nutritional foods.
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Further key findings from the report suggest:
• Pea concentrates accounted for a revenue share of 27.2% in 2016. These products comprise 70-80% of protein content and are favorably used in energy drinks and fruit mixes applications
• The growth of the food & beverage industry in Brazil, India, China, and Mexico as a consequence of increasing domestic consumption coupled with the adoption of modern farming technology is expected to drive the industry growth in the near future
• Companies are focusing on enhancement of their business growth through significantly investing in research & development, new product launches, and forward integration. Farbest and Roquette America have forward integrated business operations as they are engaged in the production as well as supply operations.
• In October 2014, Comax Flavors launched a new pea protein masking range of food additives owing to minimize or reduce the unpleasant flavor in the processed goods
• In April 2014, Carmit Candy Industries launched a wafer snack bar fortified with a dark chocolate coating and containing pea protein aimed at eliminating the pea protein flavor
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Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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