The growth of the pea protein market is driven by changing consumer perceptions towards nutrition and increasing demand for plant-based protein solutions across the globe, says this report
SELBYVILLE, Delaware, April 22, 2020 /PRNewswire/ -- As per a report published by Global Market Insights Inc., the overall Pea Protein Market is projected to surpass $285 million by 2026. The report provides a complete analysis of the major investment pockets, top winning strategies, wavering market trends, drivers & opportunities, competitive scenario, industry size & estimations.
Pea proteins are non-genetically altered proteins which make up a rich source of amino acids profile, they are also low in calories, and lactose and allergen free as well. Pea proteins have high benefits in comparison to other substitutes such as whey and soya proteins due to economical nature and easy extraction. In addition, these products are manufactured naturally by using a mechanical process without adding chemicals or additives making it a healthy option rather than artificially extracted protein, leading to pea protein market share.
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The market demand for pea protein is increasing across the world because of shifting focus towards vegetarian diets and increasing prevalence of livestock diseases. With shifting dietary practices and adoption of natural and high protein ingredients, the pea protein market will observe high growth in the coming years.
Key reasons for pea protein market growth
2026 forecasts anticipate healthy diet trends to foster growth of pea protein
Consumers are increasingly moving towards the low fat, non-gelatin snacks that are easily digestible. The material is majorly used in manufacturing protein and whey bars because of their favorable binding, neutral paste, and easily digestible properties. Moreover, the market players are also quickly expanding their product portfolios to gain maximum share in the segment for healthy food, thereby boosting the market growth for pea protein.
Asia-Pacific to provide significant growth impetus in terms of revenue
The APAC pea protein market is projected to exceed approximately 90 million by 2026 due to the rising demand for meat substitute as well as sports & fitness supplements which are allergen friendly. Additionally, majority of the people in South East Asia follow Jainism or Buddhism, and Hinduism, which restricts the use and consumption of any animal-based products. This cultural practice further makes way for the plant related sources to be adopted to meet the requirement of protein.
Moreover, rising living standards and demand for high-quality products will drive the pea protein market expansion.
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Leading market players
The key market players analyzed in the pea protein industry report include Roquette Freres, Glanbia PLC, Martin & Pleasance, Sotexpro, and Prinova Group among others. They have incorporated a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.