Global pea protein market
Dublin, April 13, 2022 (GLOBE NEWSWIRE) — The “Pea Protein Market by Type (Isolate, Concentrate and Textured), Form (Dry and Wet), Source (Yellow Split Pea, Lentil and Chickpea), Application and Region ( North America, Europe, APAC, South America and ROW) – Global Forecast to 2027 report has been added to from ResearchAndMarkets.com offer.
The pea protein market is estimated at USD 1.7 billion in 2022; it is expected to grow at a CAGR of 11.9% to reach USD 2.9 billion by 2027.
Rising vegan population, popularity of plant-based foods and gluten-free products, and nutritional benefits of pea products are key factors that are expected to drive the growth of the pea protein market over the forecast period. . The application of pea protein has increased exponentially in recent years with an increase in adaptation of healthier lifestyle and eating habits among people.
According to the International Food Information Council (IFIC) 2021 Health and Nutrition Survey, a quarter of adults reported consuming more plant-based protein than in 2020. Beyond Meat’s Beyond Sausage was the 10th most popular new food/beverage. best-selling in 2020. with first-year sales of $53 million, and 36 of the top 100 sales had a plant-based attribute and 22 were vegan, according to IRI’s 2021 New Product Pacesetters.
Food segment, by application, is expected to witness the fastest growth in the pea protein market throughout the forecast period
The growing vegan revolution and growing population of people adopting the vegan lifestyle has increased the demand for a variety of food options in the vegan segment, such as alternatives to meat in the form of vegan burger patties and sausages vegan.
Pea protein is one of the key ingredients in these products. The use of pea protein as performance nutrition in smoothies and snack bars by athletes to address issues such as lactose intolerance caused by dairy products has also increased the demand for pea protein in many multiple food applications.
Pea protein isolate segment by type is estimated to account for the largest market share in the global pea protein market
Pea protein isolate is estimated to have the highest growth due to increased awareness of healthy lifestyle and eating habits. Pea Protein Isolates are high in protein, making them a better and healthier choice for achieving daily protein macros. Its wide range of applications in vegetable meat, snack bars and vegan protein powder makes it a popular choice.
The dry form of pea protein is expected to achieve the fastest market growth in the pea protein market over the forecast period.
Textured pea protein in dry form is estimated to dominate the market over the forecast period for its versatility. The textured attribute helps replicate the meaty texture and makes it a healthier, more sustainable alternative to meat in the form of plant-based meat options like burger patty and sausages. The dry form is also used as a protein filler in protein shakes and smoothies. The versatile application of pea protein in dry form will contribute the fastest growth in the market over the forecast period.
Key Players Profiled in This Report
A few players dominate the global pea protein market, where Roquette Frères (France), Puris Foods (US), Emsland Group (Germany), and DuPont (US) account for a substantial share of the market.
Growth of the vegan population and popularity of plant-based products
Advances in mining and processing technologies
Growing consumer awareness of the nutritional benefits offered by peas and pea products
Increase in demand for gluten-free food products
Increased focus on innovation and development of better pea protein extracts and products in global markets
Lack of allergenic properties promoting acceptability compared to conventional vegetable proteins
Advances in textural properties driving the adoption of bakery and meat processing ingredients
Increase in demand from the pet food industry
Pricing Factors Impacting the Pea Protein Market
Varieties of raw materials and climatic conditions
Favorable climatic conditions to produce the base material
Demand and supply factors
Nature of market competition
Product life cycle
Case study analysis: the pea protein market
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