Global Pea Protein Market 2018 Latest Trends, Status and Outlook Report

The Global Pea Protein Market is expected to witness a rapid growth for demand due to the rising concern for health and wellness among the consumers globally. Pea protein has wide range of applications in snacks, nutritional supplements, meat alternatives & extenders, bakery goods etc. Increasing consumption of grains, increasing concerns regarding cardiovascular diseases, rising awareness among consumers regarding healthy and nutritious diet are the major factors which drive the Global Pea Protein Market. Also, rising vegan population, changing lifestyle of the consumers, rising importance of organic farming are some other factors which are expected to boost the growth of this industry.

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Global Pea Protein Market can be segmented based on

•         Product type
•          Product Form
•          Application
•          Geography

Pea Protein content of amino acids, high solubility, favourable water binding characteristics and good emulsification, Pea Protein Isolates are used in the formulation of meat substitutes. Isolates comprised of protein content was approximately 95%, which found its application as dietary supplements in sports nutrition industry. Expansion of the sports nutrition sector in developed countries including the U.S., Germany and the UK is likely to boost the product consumption over the years ahead. Isolates was the largest segment that accounted for 51.1% of global industry revenue in 2016.

Pea Protein can be found in dry as well as wet form. Dry based pea protein segment accounted for 72.5% of the total industry revenue in 2016. It is expected to dominate this industry during the forecast period, considering its significant use in the processing of nutritional health supplements, meat, and bakery products. Dry segment is mainly available in powdered form.

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Global Pea Protein Market Application:

Product Application, this market is segmented into Snacks & Bakery Products, Meat extenders & Analogs, Nutritional Supplements and Beveages. In 2014, the largest segment in terms of revenue were the nutritional supplements. Meat substitutes are also expected to witness the fastest growth due to the rising concern for meat allergies resulting in the technological development of textured products similar to that of meat. Bakery goods was the second-largest consumer of the global market in 2016. The factors driving the increasing demand for the bakery goods are rising expenditure on incorporation of the product, improving ingredient in manufacturing of baked goods including cakes and desserts by baking industry players etc.

Global Pea Protein Market Based on Region:

Based on Region, the Global Pea Protein Market is segmented into North America, South America, Europe, APAC and MEA.

North America was the largest consumer accounting for 37.9% of the global volume in 2016. Increasing demand for gluten-free items in the U.S. and rising concerns towards cardiovascular diseases caused due to red meat consumption are important factors which are expected to positively impact market growth over the next eight years.

Asia Pacific is projected to grow at a fastest rate during the forecast period. Significant gains in the revenue of functional foods in Japan, China and India is expected to remain a key driving factor. Also, Europe was the second-largest consumer of the global industry in 2016. Rising concerns towards lactose intolerances along with shifting consumer inclination towards plant-based proteins in Europe is expected to have a positive impact on the growth of this industry.

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