The Global Pea Protein market is expected grow at a high rate in the forecasted period owing to the factors such as significant rise in the number of vegan populaces, surging customer inclination toward consumption of pea protein for health and fitness benefit, burgeoning spending on convenience food products. Besides this, propelling the demand for plant-based protein supplements, increasing popularity of meat substitutes, and rising lactose intolerance among adults are the factors projected to promulgate the demand for pea protein over the forthcoming timeline.
According to MarkNtel Advisors’ research report “Global Pea Protein Market Analysis, 2021”, the Global Pea Protein market is anticipated to grow at a CAGR of around 8% during 2021-26. Based on Type, Isolates segment acquired a significant market share in 2020. The burgeoning application of pea protein isolates performance nutrition products, cereals, plant-based dairy products, and plant-based meat products as it is rich in leucine, arginine, glutamine. Moreover, the increasing demand for nutrient-rich protein-rich alternatives among individual due to upsurge in the population of vegans, vegetarians, lactose-intolerant consumers. Thus, this is anticipated to soar the market share of the segment in the forecast period.
“Global Pea Protein Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Pea Protein providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
North America Dominated the Market
North America dominated the Global Pea Protein market in 2020. The US grabbed the highest market share in the North America market on account rising prevalence of cardiovascular diseases caused by consumption of red meat, burgeoning consumer inclination toward plant-based product and significant use of pea protein in food and beverage industry as a meat substitute. Apart from this, growing health consciousness among individual, snowballing investment in R&D and the rising popularity of flexitarian diet among millennial are some of the factors anticipated to bolster the growth of the Pea Protein Market in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Pea Protein Market Analysis, 2021”.
According to MarkNtel Advisors’, the key players with a considerable market share in the global Pea Protein market are Rouquette Freres, Ingredion Incorporated, Puris Protein Llc, Fenchem Inc., Dupont, Axiom Foods Inc, Burcon Nutrascience Corp, Cosucra Groupe Warcoing, Sotexpro, Shandong Jianyuan Foods Co., Ltd., Yan Tai Shuang Ta Food Co Ltd., Et-Chem, Agt Foods, The Green Labs Llc, Nutri-Pea Limited etc.
Key questions answered in the study: