Pea Protein Ingredient Market | Global Industry Analysis, Future Growth, Business Prospects and Forecast to 2023

Market Overview:

Growing demand for healthy diet is supporting the growth of pea protein ingredients market at a global stage. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Pea Protein Ingredients Market Research Report- Forecast to 2023 that the market will demonstrate an exceptional CAGR during the forecast period.

Pea protein is a plant based protein extracted from yellow pea, green pea or Pisum sativum and is trending as a source of healthy diet additive. Being a nutritional additive, it is gaining popularity in the food and beverage industry. Furthermore, increasing vegan population is driving the pea protein ingredient market. Moreover, increasing awareness among consumers about healthy diet and inclination of consumers towards healthy diet supplement are boosting the growth of the global pea protein ingredient market. Moreover, it is a nutritional additive in animal feed, which has opened doors for this market in the livestock industry. Additionally, with an advantage of being a gluten free product, it may hamper the egg protein market.

Pea protein has wide range of application sectors such as meat extenders, bakery manufacturers, diet supplement market, livestock feeding, and others and all these are expected to boost the pea protein ingredient demand. Moreover, rising importance of organic farming is expected to increase the farming of pea crop and increase the availability of raw materials. Moreover, increasing consumption of diet supplement and increasing focus on improving animal health are the drivers of this market. Furthermore, increasing focus on R&D and technological advancement will boost the global pea protein ingredient market. However, due to certain health issues created by degraded pea protein based products may hamper the growth of the market over the review period. 

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Latest Industry Updates:

Jan 2018 UK-based brand Huel has launched what has been dubbed as the world's first nutritionally complete cereal. Huel Granola is made from ingredients including rolled oats, crunchy pea protein nuggets, sunflower seeds, flaxseeds, pumpkin seeds, chicory root fiber, and contains a balance of protein, essential fats, carbs, fiber, phytonutrients, and all 26 essential vitamins and minerals.

Jan 2018 Explore Cuisine, the leading organic, plant-based, and gluten-free pasta on the market, has inked an exclusive Canadian sales and distribution agreement with Star Marketing. This leading distributor of specialty and natural products works with brands from Canada and around the world and will enable Explore Cuisine to expand distribution within Canada's major grocery chains, independent grocery stores, drug stores, mass merchandisers, wholesalers, food service and Cash & Carry.

April 2017 Anchor Ingredients Co., LLC (“Anchor”), a leading supplier of quality ingredients for the export, food and pet food industries, has broken ground on a pea protein facility in North Dakota.

Jan 2016 According to Agriculture and Agri-Food Canada, 170 new food products containing pea protein were launched in 2015 alone – 32 of them in Canada.

Competitive Analysis:

With the entry of industry players in the pea protein ingredients segment, a trend of solid, volume-driven growth has been observed in the market with the development of different varieties of product types. With companies aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points. The key players are highly focusing on product innovations and new product launches which are healthy for the consumers. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.

The key players profiled in Pea Protein Ingredients market are Axiom Foods, Inc. (U.S.), A&B Ingredients. (U.S.), COSUCRA (Belgium), Cargill Inc. (U.S.), CHS Inc. (U.S.), Nutri-Pea Limited (Canada), and Sotexpro (France) among many others.

Market Segments:

The global pea protein ingredients market has been divided into type, form, application and region.

On The Basis Of Type: Isolates, Concentrates, Textured, and Others

On The Basis Of Form: Dry, Wet, and Others

On The Basis Of Application: Dietary Supplements, Food and Beverage {Meat Substitute, Functional Foods and Beverages, Bakery and Confectionary, Packaged Goods, Others}, Animal Feed, and Others

On The Basis Of Region: North America, Europe, Asia Pacific and ROW.

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Regional Analysis:

The global Pea Protein Ingredients market is segmented into North America, Europe, APAC, and Rest of the World (RoW). North America is dominating the global market of pea protein ingredients followed by Europe. The changing lifestyle followed by inclination of consumers towards sports supplement in North America drives the market for pea protein ingredient in this region. Moreover, rising concerns towards lactose intolerances is growing its market as dairy substitutes for cheese and yogurt in European market. Additionally, shifting consumer preference towards plant-based proteins in Europe have surged the market of pea protein ingredient in this region.

Furthermore, Asia Pacific is anticipated to be the fastest growing region in the global pea protein ingredient market with changing lifestyle followed by increasing awareness among consumers about healthy diet. Moreover, growth of the sports supplement sector in Argentina, Brazil, and Chile have a positive impact on the market.