What is Pea Protein Ingredients Market Scope?
Pea protein ingredients are gaining acceptance globally, owing to the increasing health concerns among the population. Pea protein is gaining popularity among consumers owing to its cost-effectiveness over other alternatives in the market such as soy, wheat, rice, and others. the growing adoption of a high protein diet by consumers is boosting the sales of products with high protein ingredients content. Also, as consumers are getting aware of pea protein as an alternative to animal-sourced protein, the demand for pea protein ingredients is increasing.
The Pea Protein Ingredients market study is being classified by Type (Isolates, Concentrates and Others), by Application (Food and Beverage [Meat Substitutes, Bakery & Confectionery, Beverages, Dietary Supplements, Sweet & Savory Snacks, Infant Nutrition, Others], Animal Feed and Others) and major geographies with country level break-up. According to AMA, the Global Pea Protein Ingredients market is expected to see growth rate of 6.2%
The manufacturers are focusing on innovative products and technology with the help of extensive research and development to improve product quality. Growing demand for protein ingredients in various end-use industries is driving the growth of the global pea protein ingredients market. Research Analyst at AMA predicts that Vendors from United States will contribute to the maximum growth of Global Pea Protein Ingredients market throughout the predicted period.
Agridient(Netherlands), Axiom Foods (United States), Archer Daniels Midland Company (United States), Burcon NutraScience Ltd. (Canada), Consucra-Groupe Warcoing (Belgium), Cargill Incorporated (United States), CHS Inc. (United States), Fenchem(China), Norben Company (United States), Nutri Pea(Canada) and Prinova Holdings LLC (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Roquette Feres(France), Sotexpro(France), Shandong Jianyuan Foods Co., Ltd.(China), The Scoular Company (United States), A & B Ingredients Inc (United States) and Ingredion Incorporated (United States).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Pea Protein Ingredients market by Type, Application and Region.
On the basis of geography, the market of Pea Protein Ingredients has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Influencing Market Trend
- Growing vegan population and popularity of plant-based products
- Growing consumer awareness about nutritional benefits offered by pea and pea-based products
Market Drivers
- The increasing adoption of pea protein ingredients is the growing awareness about the benefits of protein ingredients
- Declining demand for meat products due to disease outbreaks
Opportunities
- Development and deployment of new application areas in pea protein
- Advancements in texture properties supporting adoption in baking ingredients
Restraints
- Low processing outputs resulting in limited supply to manufacturers
Challenges
- Supply constraints hampering growth prospects
Key Target Audience
Pea Protein Ingredients Providers, Suppliers, Government Regulatory Bodies, Government Research Organization, Private Research Organization and Others
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