BusinessFood & Beverages

Pea Protein Market Size is Determined to cross a value of $ 1,112.2 million by 2027

Selbyville, Delaware Global Pea Protein Market Report added at Market Study Report LLC offers industry size, share, growth, trends and forecast analysis up to 2027. Pea Protein Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Pea Protein market and provides information regarding the revenue for the period 2019 to 2027.

For the uninitiated, pea protein is extracted from yellow pea and is available in the form of isolates, concentrates, and textured pea protein. Pea protein is essential to the food & beverage industry as it is utilized for improving the nutritional value and functionality of various food products.  It is widely used in packaged foods such as vegan mayo, veg burgers, and as a dairy substitute in some milk and ice cream products.

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Despite the promising industry outlook, availability of alternate protein sources and low consumer awareness about pea protein-based products may impede the market growth over the forecast period, cites the report.

Rising trend of veganism in consort with upsurge in demand for clean label and animal cruelty-free food products are the major growth drivers of global pea protein market. Furthermore, growing popularity of pea protein in food & beverage industry for manufacturing protein beverages, protein shakes, sea food analogs, dairy food, and meat alternatives are proliferating the industry growth.

On the geographical front, North America held the majority market share in recent past and is expected to accrue significant gains over the estimated timeframe with US leading the way. The growth can be credited to growing consumer inclination towards meat alternatives. Improving health awareness among consumers has compelled manufacturers in the region to include high-quality plant-based ingredients in their products. In addition, easy availability of peas, alongside escalating cases of lifestyle diseases favoring the demand for vegan food products are the contributing to North America pea protein market expansion.

Based on application scope, dietary supplements segment accounted for majority of global pea protein market share in 2018. Increasing demand for supplements among the health conscious population is favoring the segment growth. Pea protein is utilized in nutraceuticals such as dietary and health supplements for improving health. These supplements are in the form of capsules, pills, and tables and act as external source of minerals, vitamins, fibers, and other essentials.

In the wake of COVID-19 pandemic, several economies have imposed lockdowns, business shutdowns, and travel bans. This has left food industry in a dire situation as food manufacturing plants, restaurants, hotels, and other food outlets continue to remain shut, thereby impeding the pea protein industry growth.

Major players operating in global pea protein market are Yantai Shuangta Food Co., Ltd., The Green Labs LLC, Roquette Frères, Glanbia Nutritionals, Puris, Gemef Industries, Cosucra Groupe Warcoing SA, Burcon Nutrascience Corporation, Axiom Foods, Inc., and A&B Ingredients.

Questions & Answers: Global Pea Protein Market

Q1: Which factors are positively impacting the growth graph of global pea protein market?  

A: Rising trend of veganism, upsurge in demand for clean label and animal cruelty-free food products, and growing use of product for manufacturing protein beverages, protein shakes, and other animal product alternatives are driving the global pea protein market growth.

Q2: How has the COVID-19 pandemic impacted the global pea protein market growth?

A: Food industry is in a dire situation as food manufacturing plants, restaurants, hotels, and other food outlets continue to remain shut due to lockdown to contain COVID-19 spread, thereby impeding the pea protein industry growth.

Q3: Which are the leading organizations in global pea protein market?

A: Major players operating in global pea protein market are Yantai Shuangta Food Co., Ltd., The Green Labs LLC, Roquette Frères, Glanbia Nutritionals, Puris, Gemef Industries, Cosucra Groupe Warcoing SA, Burcon Nutrascience Corporation, Axiom Foods, Inc., and A&B Ingredients.

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