The global Pea Protein market size is expected to be worth around US$ 385.6 million by 2027, according to a new report by Vision Research Reports.
The global Pea Protein market size was valued at US$ 215.4 million in 2019 and is anticipated to grow at a CAGR of 7.5% during forecast period 2020 to 2027.
Rising consumption of gluten free foods for the treatment of a celiac disease is likely to boost the growth. Substantial prevalence of lactose intolerance among infants and children in developing economies including Central and South America, Asia Pacific, and Middle East and Africa is anticipated to further drive the growth.
Rising anxieties regarding non-celiac gluten sensitivity is anticipated to result in rising consumption of gluten-free food products, which is likely to positively impact the demand for pea protein. In addition, Gluten-free Diet (GFD) is gaining traction owing to low carbohydrate intake and weight loss stimulation. This factor is expected to propel the product demand over the forecast period.
Increasing significance of maintaining a gluten-free diet for the treatment of joint pain, innate immune response, and numbness is predicted to positively influence the market growth in the forthcoming years. Moreover, this diet is gaining global acceptance as an effective solution for curing symptoms of autism in children. Such factors are likely to drive the demand for pea protein in near future.
Pea protein is one of the most significant sources capturing a significant interest due to its ability to meet growing demand for proteins from non-meat sources. In the recent past, peas have played an important role in overcoming challenges related to protein-energy malnutrition in under-developed and developing countries. Pioneers in this market, have developed products that resembles what meat-based protein offers as well as delivering tastes that could aid them capture greater market share over the forecast period.
Pea protein isolates was the largest segment and accounted for 48.5% revenue share of the pea protein market in 2019. These products are used as texturizing agents in meat goods due to providing properties such as high amino acid content, excellent emulsification, high solubility, and good water-binding characteristics.
In 2019, pea protein concentrates segment generated a revenue of USD 45.0 million, and is anticipated to expand at a CAGR of 6.8% over the forecast period. Concentrates are manufactured by separating the protein of pea seeds from the fiber and starch fractions through the utilization of dry as well as wet processes. These products possess properties including high digestibility and good emulsification which promotes their use as sports supplementation.
Dry based segment accounted for 69.4% of the total market share in terms of revenue in 2019 and is anticipated to continue leading during the forecast period. Significant use of the form in the processing of nutritional health supplements, meat, and is anticipated to fuel the growth. Dry segment is mainly available in powdered form in the global market. It finds application in meat extenders and analogues and bakery goods sectors. This segment is anticipated to generate a revenue of USD 262.8 million by 2027.
Liquid form is projected to be the fastest-growing segment during the forecast period. Ease of blending with other food components is one of the key aspects of the liquid product form, which is expected to drive its adoption. The segment is likely to witness a CAGR of 8.0% in terms of revenue over the forecast period.
In terms of volume, dietary supplements constituted 59.2% of global market share in 2019. Expansion of industry in China, Japan, and India in light of rising domestic consumption of nutritional supplements at a domestic level is anticipated to promote the product application over the forecast period. Pea protein is fortified added in nutritional tablets, syrups, soups, energy powders, and on account of providing health benefits such as enhancing muscle and bone growth as well as regulating blood sugar levels. Such benefits associated with the consumption of pea protein are expected to fuel the growth in the near future.
North America was the largest consumer accounting for 42.6% of the global volume share in 2019. Increasing demand for gluten-free items in the U.S., robust growth of the industry, and rising concerns regarding cardiovascular diseases caused due to red meat consumption are important factors positively influencing the growth.
Asia Pacific is likely to witness the fastest CAGR of 8.7% during the forecast period in terms of volume. Significant gains in the revenue of functional foods in Japan, China, and India is expected to remain a favorable driving factor over the forecast years. In addition, grooming hotel and restaurant industry along with the expansion of retail chains particularly supermarkets are likely to play important role in promoting food and beverage industry growth. As a result, positive food and beverage industry outlook across countries, such as China and India, is expected to fuel the demand for pea protein ingredients.
Majority of the manufacturers are located in the U.S. and Western Europe owing to easy access to raw materials and equipment on a domestic level. Pulse ingredient suppliers are expected to sign agreements with farming agencies and government bodies to ensure the supply of raw materials in subsidized rates.
Burcon Nutrascience; Roquette Freres; The Scoular Company; Cosucra Groupe Warcoing SA; Nutri-Pea Limited; Ingredion; Inc.; Axiom Foods; Inc.; Sotexpro SA; Puris Protein LLC
Central & South America
Middle East & Africa
The Pea Protein market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Pea Protein market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Pea Protein market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Pea Protein market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Pea Protein market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Pea Protein capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Pea Protein by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Pea Protein market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Pea Protein market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Pea Protein market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Pea Protein industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Pea Protein market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Pea Protein market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Pea Protein market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Pea Protein market. These factors have benefited the growth of the global market for Pea Protein. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Pea Protein. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Pea Protein are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Food Processing Equipment Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Meat Extract Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Dairy Alternatives Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Food Safety Testing Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2030Read more...
Pea Protein Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...