According to the latest report by IMARC Group, titled “Pea Protein Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global pea protein market size is currently expanding at a moderate pace. Pea protein is defined as a high-quality protein sourced from green and yellow peas. It can be produced through both wet- and dry-milling technologies and is considered a rich source of iron and the amino acid L-arginine. In addition to this, it also produces peptides and lowers the levels of the hunger hormone, ghrelin. On account of its nutritional content, it offers various health benefits, such as supporting weight loss, decreasing the risk of kidney-related diseases, regulating blood sugar, managing heart health and increasing muscle thickness. Apart from this, it also has numerous functional properties like high water-binding capacity and foam stability to gelation, emulsion ability, and foam expansion.
Global Pea Protein Market Trends:
Over the past few years, with the growing preference for plant-based ingredients, manufacturers have been exploring the versatility of pea proteins in the production of food items such as cereals, bread, snacks and waffles. Besides, in 2018, the pea protein industry witnessed an increase in the number of investments across the globe, which will have a long-term effect on the growth of the market. For instance, the US-based agricultural products provider, Cargill, and the non-GMO, plant-based ingredients producer, PURIS, created a joint venture to expand the production of pea protein. Also, the France-based ingredients provider Roquette acquired the Netherlands-based extrusion unit of the Dutch investment company Texpall. The acquisition helped Roquette to increase its production capacity and supply pea protein ingredients in the US. Looking forward, the market is expected to grow at a CAGR of around 7% during 2019-2024.
- The market has been segmented on the basis of the type into isolates, concentrates and textured products.
- Based on the application, the market has been segregated as dietary supplements, bakery products, meat substitutes and beverages.
- The report has bifurcated the pea protein market according to the end user, which includes retail and institutional segments.
- On the geographical front, the market has been divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined with some of the key players being Axiom Foods, Inc., Cosucra-Groupe Warcoing, Nutri-Pea Limited, Roquette Freres, Shandong Jianyuan Foods Co., Ltd, Sotexpro SA, The Scoular Company, Naturz Organics, Fenchem, and Glanbia Plc.
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