According to a new report published by Allied Market Research, titled, Pea Protein Market by Type, Form, and Application: Global Opportunity Analysis and Industry Forecast, 2018-2025, the global pea protein market was valued at $32.09 million in 2017, and is projected to reach $176.03 million by 2025, registering a CAGR of 23.6% from 2018 to 2025. In 2017, the pea protein isolate segment accounted for more than half share of the global pea protein market in terms of value.
In terms of value, Asia-Pacific and LAMEA collectively
contributed more than 30% share in the global market in 2017.
Global Top Leaders:
A&B Ingredients, Roquette Freres Le Romarin, Burcon
Nutrascience Corporation, Cosucra Groupe Warcoing SA, Glanbia, Plc., The Green
Labs LLC, GEMEF Industries, Axiom Foods, Inc., Puris and Yantai Shuangta Food
Co., Ltd.
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Pea protein is extracted from green and yellow peas and is
used in some protein supplements and protein-enriched foods. Pea protein
contains all the essential amino acids required for healthy body function.
It helps in doing weight management, improving blood circulation
and calcium absorption, maintaining healthy muscle, boosting metabolism, and
regulating blood sugar. Pea protein is lactose-free and is safe for people with
allergies or sensitivities to dairy and eggs. Thus, vegetarians and vegans
prefer pea protein products to supplements with protein derived from dairy,
such as casein, whey proteins, eggs, or meat.
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The use of pea protein as an alternative for other protein
and non-protein ingredients in numerous applications, such as dietary and
nutritional supplements, meat alternatives and extenders, snacks, beverages,
and other bakery and confectionery goods by food industries, also drives the
sales for the global pea protein market.
Other factors, such as rising living standards, increasing
demand for healthy and nutritional products, growing economy, and soaring
urbanization, are indirectly influencing the growth of the global pea protein
market in a positive way.
However, low consumer awareness about the pea protein-based
products and market penetration of animal protein and other plant-based
proteins, such as soy, rice, wheat, and others, hampers the growth of this
market to some extent. Formulation challenges in pea protein products is also a
major factor hindering the growth of the pea protein.
Key Findings of the Pea Protein:
·
The pea protein isolate segment was the highest
contributor to the market in 2017, and is projected to grow at a CAGR of 22.8%.
·
The dry based pea protein segment accounted for
72.14% and is expected to grow at the CAGR of 23.4% from 2018 to 2025.
·
The Asia-Pacific region accounted for 18.70% of
the pea protein market share in the global pea protein market in 2017 and is
projected to grow at a significant CAGR of 25.0%.
·
In 2017, China accounted for the highest pea
protein market share accounting approximately for 23.1% in the Asia-Pacific
region.
·
In 2017, the dietary supplement segment
generated the highest market share and is expected to grow at significant CAGR
of 24.2%.
·
The meat products & alternatives segment
accounted for almost 12% share of the pea protein market in 2017.
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