Pea Proteins Market By Form Type (Isolates, Textured, and Concentrates), By Application (Meat substitutes, Snacks & bakery products, Nutritional supplements, Beverages and others) - Growth, Share, Opportunities & Competitive Analysis 2016 - 2023

Pea protein is a food additive extracted from the yellow pea, Pisum sativum. Pea proteins are nutrient-rich form of plant protein, necessary for good health. It is low in carbohydrates and fats and free of lactose, soy and gluten. It is easily absorbed by the body and provides substantial amount of beneficial amino acids. Pea proteins deliver huge amounts of the essential branched-chain amino acids such as valine, lysine, isoleucine and arginine.

The global pea proteins market is witnessing growth owing to increasing applications scope of pea protein coupled with the rising demand for gluten free and plant-based food supplements. Over the past decade, the overall proteins market is witnessing growth due to consumer awareness regarding its health benefits. Furthermore, rising awareness about pea protein high nutritional profile and increasing vegan and vegetarian population is another factor propelling the market growth.  After a hard workout, consumption of pea protein could prove beneficial as a means of restoring muscle mass.

On the basis of type the pea protein market is segmented into isolates, textured and concentrates. Isolates owing to its high solubility and amino acid content along with various other characteristics is increasingly being used in various applications. It is projected to witness highest growth rates during the forecast period of 2016 to 2023. Development of end-use industries such as aquafeed, food and beverages is projected to enhance market growth of pea concentrates over the forecast period.

On the basis of application the pea protein market is segmented into meat substitutes, dietary supplements, snacks & bakery products, beverages and others. In 2015, dietary supplements segment accounted for the major chunk of the global market pie in terms of value as well as volume. It is also projected to maintain its dominance over the forecast period. Meat substitutes segment is projected to witness fastest growth rate over the forecast period owing to rising concerns about animal disease outbreaks and allergies associated with the meat consumption. Increasing demand for sports nutrition products and excellent emulsification properties of pea proteins is projected to fuel the market demand for pea proteins in beverages and snacks & bakery products segments in the near future.

On the basis of geography the pea protein market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW); this has been further segmented on the basis of their key countries. In 2015, North America pea proteins market accounted for 41% share of the market pie in terms of revenue. It is also projected to maintain its dominance over the forecast period. Rising health concerns, growing sports nutrition industry and increasing demand for gluten-free products due to these factors, consumption of pea protein in North America is witnessing growth. Asia Pacific pea protein market is projected to witness highest growth rate during the forecast period owing to rising consumption of fortified functional food products, changing lifestyles, rising health consciousness and rise in disposable income among others.

The global pea proteins market can be categorized on the basis of applications as:

  • Meat Substitutes
  • Snacks & Bakery Products
  • Dietary Supplements
  • Beverages
  • Others

In 2015, dietary supplements segment accounted for over 50% share of the global pea proteins market in terms of value. It is projected to maintain its dominance over the forecast period of 2016 to 2023. Rising health concerns coupled with changing lifestyles and increasing awareness about benefits associated with pea proteins are the major factors propelling the market demand. Meat substitutes are projected to be the fastest growing application segment owing to rise in vegan and vegetarian population and growing concerns about animal disease outbreaks. The market for meat substitutes is projected to grow at a CAGR of 9.8% from 2016 to 2023 in terms of value.

Pea Proteins Market

Rising demand for sports nutrition products towards muscle improvement is projected to boost the demand for beverages such as energy drink-mix powders over the coming few years. Furthermore, excellent emulsification properties of pea proteins coupled with inducing fluffiness in baked goods is projected open new growth opportunities for the overall market over the forecast period.

On the basis of geography, the global pea proteins market is segmented as per following regions and countries.

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • EU7
    • CIS
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • South Asia
    • Australasia
    • Rest of Asia Pacific
  • Rest of the World (RoW)
    • Middle East and Africa
    • Latin America

In 2015, North America accounted for over 40% of global volume. It is projected to maintain its dominance over the forecast period of 2016 to 2023. Increasing health concerns, rising demand from the sports nutrition industry among others are the factors contributing towards the market growth in this region. Worldwide, the U.S. is projected to be the largest market for pea proteins. Presence of multinationals makes pea proteins products easily assessable to the consumer. In the same year Europe accounted for the second largest share of the market. Inclination towards plant-based protein is the key factor propelling the market growth in this region.

Pea Proteins Market

Asia Pacific is projected to be the fastest growing market. It is anticipated to grow at a CAGR over 9.0% from 2016 to 2023. Growing demand for meat substitutes, rising consumption of functional food products and inclination towards natural ingredients is projected to witness market growth over the projected period. India and China are likely to open new growth opportunities for pea proteins market over the forecast period.

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Published Date:  Aug 2016
Category:  Food & Beverage
Report ID:   58058
Report Format:   PDF
Pages:   120
Rating:    4.5 (70)
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