18 July 2019
Visiongain has launched a new food & beverage report: Pea Protein Market Report 2019-2029: Forecasts by Product Type (Isolates, Concentrates, Textured), by Application (Meat Extenders, Snacks & Bakery, Nutritional Supplements, Beverages), by Form (Dry, Wet) PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis.
The global Pea Protein Market is anticipated to experience moderate growth over the forecast period. Growth in the Pea Protein market is primarily driven by increasing disposable income, changing lifestyle and consumer preferences. By application, Nutritional Supplements are accounted for the major market share. However, Snacks & Bakery sub-segment is projected to expand with the highest CAGR over 2019-2029 in the developing regions. Factors contributing to its growth include increasing consumption of protein among young individuals primarily athletes. Also, protein products offer several health benefits such as lowering cholesterol, the building of muscles, increasing strength, fighting cancer, improving immunity, and lowering blood pressure.
By form type, wet protein sub-segment is identified as the most attractive sub-segment considering high growth rate. This is primarily due to an increase in the demand for vegan based protein products and the demand for high protein ingredients in bodybuilding and sports industries.
Major companies operating in the global Pea Protein market are Roquette Frères, Burcon Nutrascience Corporation, Cosucra Groupe Warcoing, Nutri-Pea Limited, Sotexpro, The Scoular Company, Yantai Shuangta Food Co., Ltd., Axiom Foods, Inc., Farbest Brands, and Shandong Jianyuan Foods Co., Ltd.
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Some of the key factors propelling the market include the increasing vitamin deficiencies, growing awareness regarding the health benefits of vitamin supplements, and rise in disposable income in developing countries of the region.
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