The global Pea Protein market size is expected to be worth around US$ 654.9 million by 2030, according to a new report by Vision Research Reports.
The global Pea Protein market size was valued at US$ 213.1 million in 2020 and is anticipated to grow at a CAGR of 12.10% during forecast period 2021 to 2030.
The market is majorly driven by rising health consciousness among consumers coupled with increasing product demand from the nutraceutical industry.
The nutraceutical supplements industry is evolving and has a dynamic space that offers lucrative opportunities to merge rising consumer interest and scientific discovery to enhance human health. As this industry tracks consumer trends, nutraceutical products directly respond to consumer buying behavior/habits, thereby encouraging prominent companies in the industry to market their products to their target audiences in an effective manner. Such factors have driven the product demand across the globe.
The increasing consumption of healthy foods backed by changing consumer preferences has been contributing to the growth of the market. Moreover, the product usage in meat substitutes provides the required nutrition; thus, many faux seafood, chicken, and beef producers are increasingly adding legume-based protein ingredients in their formulations.
The market is expected to register significant growth over the forecast period owing to the increasing popularity of gluten-free products. A substantial number of consumers, most notably in regions, such as North America and Europe, prefer gluten-free products to reduce the symptoms of gluten-intolerance and celiac disease. From a manufacturing standpoint, the removal of gluten also helps achieve optimal volume, production cost, and texture from food products.
Dietary supplements led the market and accounted for more than 38% of the global revenue share in 2020. Pea protein is added in nutritional syrups, tablets, energy powders, cereal bars, and soups on account of various health benefits, such as muscle growth, bone health improvement, and regulated blood sugar levels. Rising demand for sports nutrition products on account of increasing awareness about bone health and muscle improvement is expected to fuel the segment growth.
The meat substitutes segment is estimated to register the fastest CAGR from 2021 to 2028. Rising health problems, such as obesity and diabetes, have led to a shift towards vegan dietary habits. Animal rearing has a notable impact on the natural resources of the planet and is responsible for global warming to some extent. Though this factor has not been quantified, awareness regarding this factor is presumed to shift global food habits towards a more vegan diet, thereby aiding the meat substitutes market growth. This trend is expected to promote the incorporation of pea protein as meat analogs.
Pea protein offers good texturing properties that are expected to promote its application in the production of meat products, including mutton, chicken, lamb, and beef. However, predominant consumption of wheat, soy, tempeh, tofu, and textured vegetable protein as meat substitutes will pose a substitution threat to the market over the next few years.
The isolates product segment led the market and accounted for more than 47% share of the global revenue in 2020. Isolates are widely used as nutritional supplements in meat products, energy drinks, fruit mixes, and bakery items as they have good emulsification and non-allergic characteristics. Expansion of the sports nutrition industry in the developed countries, including the U.S., Germany, and the U.K., in light of new product launches by Cadbury and Amway in the energy mix segment, is expected to increase the product demand.
The concentrates segment is estimated to register a significant CAGR from 2021 to 2028. Pea protein concentrates have several attributes, such as good emulsification and high digestibility, which drive their utilization in weight control and dietary supplement applications.
Moreover, these concentrates are gradually incorporated in bakery products, such as cakes & pastries, for good flavoring and dry-texture. A robust manufacturing base of bakery products in countries, such as Germany and France, due to proximity with equipment producers and easy access to wheat and rice as raw materials, is expected to increase the application of concentrates over the forecast years.
Textured pea protein is used as a texturing agent in meat products, baked goods, and confectionery items. Moreover, the presence of fibrous content in textured pea protein is expected to promote their incorporation in energy powders and fruit juice mixes. Rising beef production capacity in China, India, and Australia on account of growing domestic demand is expected to boost the usage of textured pea protein over the forecast years.
North America dominated the global pea protein market and accounted for over 44% share of the global revenue in 2020. Growing demand for increasing concerns regarding Cardiovascular Diseases (CVDs) caused by red meat consumption, and robust growth of the sports nutrition industry in North America are expected to drive the regional market over the forecast years.
Moreover, the presence of major meat product manufacturers including JBF, Tyson, National Foods, and Cargill in the U.S. is projected to boost the product demand as a texturizing agent in meat production. Moreover, growing consumption of grains, including canola and soy, for bio-based chemicals, is expected to diminish their availability as protein ingredients. As a result, pea protein is likely to emerge as a vital ingredient.
Asia Pacific is anticipated to be the fastest-growing regional market over the forecast years on account of the rising consumption of nutrient fortified functional food products. Growing demand for meat substitutes and allergen-friendly sports & fitness supplements is also expected to augment market growth. Favorable regulatory inclinations in India and China aimed at the development of the agricultural industry will result in ample raw material supply for the manufacturers.
The Scoular Company
Cosucra Groupe Warcoing SA
Shandong Jianyuan Group
Axiom Foods, Inc.
Martin & Pleasance
The Green Labs 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 2020 and the forecast between 2021 and 2030. 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 2017 to 2030. 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:
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