The global Pea Protein market is expected to reach USD 51.2 Million by 2026, according to a new report by Reports and Data. This can be mainly contributed by the rising adoption of vegan and vegetarian food among the western population, technological advancements in extrusion & processing, changing consumer lifestyles and rising health concerns, growing health awareness and increasing demand of gluten free products, growing inclination towards preventive healthcare among developing economies and growing applications in the sports nutrition industry
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Pea proteins are extracted from the yellow pea, Pisum sativum. Peas have a high amount of amino acid profile, minerals vitamins, starches and fibers. They are considered as a good substitute for soybean as a functional additive in food products intended for human consumption. Pea protein concentrate (PPC) and pea protein isolate (PPI) have the biggest potential as food ingredient. They are used in food such as soups, puddings, snacks, and stews or as sprouted. They are also used in animal feed, where they are mixed with cereals or canola oil in order to improve the amino acid profile. They are majorly used as a weight loss supplement. They have the ability to lower the ghrelin levels, the hormone is responsible for stimulating feelings of hunger. Along with weight loss, the product also works to kidney functioning and heart health. These benefits are responsible for the increasing popularity of these products.
Lower consumer awareness in the developing countries is the major restraining factor. Moreover, a common perception, that animal products contain superior forms of protein than their plant-based counterparts, is another factor that may hinder the growth.
Key participants include Nutri-Pea Limited, Cosucra Groupe Warcoing, Roquette Frères, Sotexpro, Fenchem Biotek Ltd, Glanbia Plc, Yantai Shuangta Food Co, Prinova Group LLC, Burcon Nutrascience, AGT Food & Ingredients, Inc., Yantai T Full Biotech Co. Ltd., World Food Processing LLC., Suzhou Wanshen Flour Products Co, Yantai Shuangta Food Co, Shandong Huatai Food, Shandong Jindu Talin Foods Co, Shandong Jianyuan Foods Co Yantai Oriental Protein Tech Co, and Axiom Foods Inc. among others.
For the purpose of this report, Reports and Data has segmented global Market on the basis of type, form, distribution channels, application, and region:
Type Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Million; 2018-2026)
• Isolates
• Concentrates
• Textured
Form Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Million; 2018-2026)
• Powder (Dry)
• Paste (Wet)
Distribution Channels Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Million; 2018-2026)
• Supermarkets
• Health Stores
• Online Stores
• Others
Applications Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Million; 2018-2026)
• Beverages
• Bakery products & snacks
• Confectionery
• Meat applications
• Nutritional supplements
• Others
Regional Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Million; 2018-2026)
• North America
• Europe
• Asia Pacific
• Latin America
• MEA
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Further key findings from the report suggest
• The market is segmented on the basis of type into isolates, concentrates and textured. Isolates are expected to witness the highest growth, with a CAGR of 7.6% during the forecast period, since they are used as the substitutes of meat.
• The study is segmented on the basis of form into powder (dry) and paste (wet). The former segment accounted for the largest market share in 2018 and is expected to dominate the segment throughout the forecast period with a CAGR of 7.2%, majorly due to its significant use in its consumption as nutritional health supplements, meat, and bakery products.
• PPI can easily be added to shakes, smoothies, or protein-rich recipes, and can also be added into supplements and bars as well.
• The study is segmented on the basis of applications into beverage, bakery products and snacks, confectionery, meat applications and nutritional supplements. Nutritional supplements segment dominates the sector in 2018, with a CAGR of 6.9% during the forecast period.
• The study is segmented on the basis of distribution channels into supermarkets, health stores, online stores and others. Supermarkets played a prominent role in distributing the product in 2018, with a CAGR of 6.1% during the forecast period. Several retailers have tied up with manufacturers for the distribution of these products.
• The market is segmented on the basis of geography by North America, Europe, Asia Pacific, Latin America and MEA. North America dominated the global market in 2018 with 40% share, attributed to the booming sports nutrition industry.
• The companies have adopted various strategies including mergers, acquisitions and partnerships to hold on going trails and come up with new developments in the market.
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Key questions covered in the global Pea Protein market report:
• What is the expected market size of the global Pea Protein market during the forecast period?
• Which leading players are operating in the global Pea Protein market?
• What factors are expected to hamper global Pea Protein market growth over the forecast period?
• What key factors are expected to boost global revenue growth between 2021 and 2028?
• Which regional market is projected to account for largest revenue share throughout the forecast period?
• Which region is expected to register fastest revenue growth over the forecast period?
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