Market Overview
The global Pea Protein Ingredients Market Sizeis expected to exhibit a stable 5.1% CAGR over the forecast period from 2019 to
2024, according to the latest research report from Market Research Future
(MRFR). The market is expected to rise to a revenue valuation of USD 1.2
billion by 2024.
Pea protein ingredients are protein productsderived from peas. The growing demand for protein ingredients from a wide range
of consumers is likely to be the major driver for the Pea Protein Ingredients
Market over the forecast period. The increasing demand for protein products
from health-conscious consumers is likely to be a major driver for the global Pea
ProteinIngredients Market over the forecast period. Manyconsumers around the world have started to adopt high-protein diets in an
effort to be healthy. High-protein diets have several benefits, such as
increasing the metabolism of the consumer and providing the calorific
requirement while also providing high levels of protein and enabling muscle
growth. Despite the disadvantages of high-protein diets, such as their adverse
effects on the kidneys, high-protein diets are becoming more popular around the
world. This has driven the demand for protein ingredients on a large scale,
leading to a growing demand from the Pea Protein Ingredients Market.
The increasing demand from vegan consumers foreffective forms of protein is also likely to be a major driver for the global Pea
Protein Ingredients Market over the forecast period. Veganism and vegetarianism
are becoming increasingly popular around the world, as more and more consumers
are buying into the premise of vegetarianism due to various reasons, including
its environmental benefits and the desire to reduce animal cruelty. This has
driven the demand for vegetarian alternatives to meat. As proteins are the
major nutrition obtained from meat, the demand for meat alternatives is
growing. This has been a major driver for the global Pea Protein Ingredients
Market. The rising number of lactose intolerant individuals around the world is
also likely to be a major driver for the global Pea Protein Ingredients Market,
as many consumers are turning to pea protein to make up for the proteins lost
by their abstinence from dairy products.
CompetitiveLeaderboard:
Leading players in the global PeaProtein Ingredients Market Size includeAxiom Foods Inc., PLT Health Solutions, Cambridge Commodities Inc., Batory
Foods, Ingredion Inc., Burcon NutraScience Corporation, Roquette Freres SA,
Prinova Group LLC, Nutri-Pea Limited, A&B Ingredients Inc., The Scoular
Company, Cosucra Groupe Warcoing SA, Cargill Inc., Kerry Group plc, and Archer
Daniels Midland Company.
Segmentation:
The global Pea Protein Ingredients Market issegmented on the basis of type, application, and region.
By type, the global Pea Protein IngredientsMarket is segmented into isolates, concentrates, and textured.
By application, the global Pea ProteinIngredients Market is segmented into food and beverages, animal feed, and
others. The food and beverage segment is expected to dominate the global Pea
Protein Ingredients Market over the forecast period due to the growing demand
for pea protein ingredients in meat substitutes and dietary supplements.
Dietary supplements are likely to remain a major segment for the global Pea
Protein Ingredients Market over the forecast period, due to the growing demand
for protein supplements. The food and beverage segment is further sub-segmented
into meat substitutes, bakery and confectionery products, beverages, dietary
supplements, sweet and savory snacks, infant nutrition, and others.
The animal feed segment is also likely toremain an important consumer of pea protein ingredients over the forecast
period due to the growing demand for protein products in animal feed products.
Proteins are a vital product in animal feed, as proteins are required for
muscular development in animals.
RegionalAnalysis:
North America is expected to dominate theglobal Pea Protein Ingredients Market over the forecast period. The growing
number of North Americans adopting high-protein diets is likely to be a major
driver for the global Pea Protein Ingredients Market. Asia Pacific is also
likely to be an important regional market for pea protein ingredients over the
forecast period due to the growing volume of demand in the region.
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