Global Pea Protein Market to register USD 39.50 Million growth by 2022
Global Pea Protein Market worth to gain $39.50 Mn by 2022, according to new statistics released by the Zion Market Research, the market research group.
Pea protein has growingly used the source of protein. Protein powder can be available from various sources i.e. either from whey protein, brown rice protein, soy protein, etc.However, pea protein is increasingly being preferred over other protein powder because it has no gluten or diary. Pea protein is easy to digest and does not cause bloating; a common problem with other protein powders. Pea protein helps in a number of medical applications such as to maintain healthy muscle, weight management, boost metabolism, and control blood sugar, improve blood circulation and calcium absorption among others.
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North America was the largest pea protein market in 2016 and is expected to maintain its position in the forecast period. The market is mainly driven by the increasing demand for gluten-free products in this region especially in the U.S., and increasing demand for sports nutrition diet in this region.Moreover, numerous food & beverage manufacturers in North America have expanded their product line by launching innovative products as a result of increasing production of the yellow pea in Canada. Europe was the second largest consumer of pea protein in 2016. This was mainly due to the shifting preference towards plant-based protein. North America and European region are expected to hold their position during the forecast period.
While Asia pacific is expected to be the fastest-growing region for pea protein market owing to growing demand for meat substitute and allergen-friendly sports & fitness supplements. Moreover, favorable regulatory inclination for agriculture industry especially in India and China ensures supply of ample raw material for pea protein production is also expected to boost pea protein market in this region.
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Latin America is expected to exhibit worthwhile growth in the pea protein market owing to growth in Brazil. Brazil is expected to be the leading pea protein market in the forecast period owing to its fastest pace in developing pea protein industry. The Middle East and Africa are likely to witness decent growth in the coming years.
Some of the key players in the pea protein include RoquetteFreres, A&B Ingredients, Farbest Brands, Axiom Foods Inc., Nutri-Pea Ltd., The Scoular Company, SotexproBurconNutraScience Ltd., Consumer-GroupeWarcoing among others. Due to a presence of several manufacturers in protein powder market, there has been intense competition among the players to sustain in the market. Product innovation is the key strategy practiced by a majority of the players to maintain their sales.
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This report segments the cheese market as follows:
Pea Protein Market: Product Analysis
Pea Protein Market: Application Analysis
- Dietary Supplements
- Bakery Goods
- Meat Substitutes
Pea Protein Market: Regional Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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