Rich in essential nutrients, the Global Pea Protein Market is expected to witness a rapid growth for demand due to the rising concern for health and wellness among the consumers globally. Pea protein has wide range of applications in snacks, nutritional supplements, meat alternatives & extenders, bakery goods etc.
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Key Driving Factors of the pea protein market:
Increasing consumption of grains, increasing concerns regarding cardiovascular diseases, rising awareness among consumers regarding healthy and nutritious diet are the major factors which drive the Global Pea Protein Market. Also, rising vegan population, changing lifestyle of the consumers, rising importance of organic farming are some other factors which are expected to boost the growth of this industry.
Low consumer awareness of pea proteins is a major barrier for the growth of the global pea protein market. Isolates comprised of protein content was approximately 95%, which found its application as dietary supplements in sports nutrition industry. Expansion of the sports nutrition sector in developed countries including the U.S., Germany and the UK is likely to boost the product consumption over the years ahead. Isolates was the largest segment that accounted for 51.1% of global industry revenue in 2016.
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Concentrates are produced by separating the protein of pea seeds from the fibre and starch fractions by the utilization of dry as well as wet processes.
Pea Protein can be found in dry as well as wet form. Dry based pea protein segment accounted for 72.5% of the total industry revenue in 2016.
In 2014, the largest segment in terms of revenue were the nutritional supplements. Meat substitutes are also expected to witness the fastest growth due to the rising concern for meat allergies resulting in the technological development of textured products similar to that of meat.
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North America was the largest consumer accounting for 37.9% of the global volume in 2016. Increasing demand for gluten-free items in the U.S. and rising concerns towards cardiovascular diseases caused due to red meat consumption are important factors which are expected to positively impact market growth over the next eight years.
Asia Pacific is projected to grow at a fastest rate during the forecast period. Significant gains in the revenue of functional foods in Japan, China and India is expected to remain a key driving factor. Also, Europe was the second-largest consumer of the global industry in 2016.
The major players of the Pea Protein Market:
Roquette Frerers, Burcon NutraScience, Cosucra-Groupe Warcoing, Nutri-Pea Ltd., Sotexpro, Axiom Foods, Farbest Brands, Shandong Jianyuan, Yan Tai Shuang Ta Food, The Scoular Co. and so on.