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.
