The Global Pea Protein Market is expected to reach USD 58.37 Billion by 2028, according to a new report by Reports and Data. This can be mainly contributed by the rising adoption of vegan and vegetarian food among the western population, technological advancements in extrusion processing, changing consumer lifestyles and rising health concerns, growing health awareness and increasing demand of gluten free products, growing inclination towards preventive healthcare among developing economies and growing applications in the sports nutrition industry
Pea proteins are extracted from the yellow pea, Pisum sativum. Peas have a high amount of amino acid profile, minerals vitamins, starches and fibers. They are considered as a good substitute for soybean as a functional additive in food products intended for human consumption. Pea protein concentrate (PPC) and pea protein isolate (PPI) have the biggest potential as food ingredient. They are used in food such as soups, puddings, snacks, and stews or as sprouted. They are also used in animal feed, where they are mixed with cereals or canola oil in order to improve the amino acid profile. They are majorly used as a weight loss supplement. They have the ability to lower the ghrelin levels, the hormone is responsible for stimulating feelings of hunger. Along with weight loss, the product also works to kidney functioning and heart health. These benefits are responsible for the increasing popularity of these products.
Lower consumer awareness in the developing countries is the major restraining factor. Moreover, a common perception, that animal products contain superior forms of protein than their plant-based counterparts, is another factor that may hinder the growth.
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The Pea Protein market investigation report assesses the global market for the Pea Protein industry and provides revenue and capability forecasts for the projected period of 2023-2028. The factors that drive the industry's growth are highlighted in the report. The report divides the Pea Protein market into main categories such as forms, applications, end-users, technology, and others for a better understanding. These segments are thoroughly examined in order to provide a more accurate outlook for the global and regional markets. The report also examines the industry's major players, including their product portfolios, company overviews, strategic growth strategies, revenue generation, market share and size, geographic presence, and development and manufacturing capabilities.
Some of the Leading Market Players Are Listed Below:
- Nutri-Pea Limited,
- Cosucra Groupe Warcoing,
- Roquette Frères,
- Sotexpro,
- Fenchem Biotek Ltd,
- Glanbia Plc,
- Yantai Shuangta Food Co,
- Prinova Group LLC,
- Burcon Nutrascience,
- AGT Food Ingredients, Inc.,
- Yantai T Full Biotech Co. Ltd.,
- World Food Processing LLC.,
- Suzhou Wanshen Flour Products Co
Market Overview:
All enterprises involved in the processing, packaging, and distribution of raw food materials fall within the food and beverage sector. Fresh and packaged meals, as well as alcoholic and nonalcoholic beverages, are all included. Apart from drugs, this industry touches every product designed for human consumption.
As a result of the current economic depression caused by the Covid-19 outbreak, consumers are seeking to save as much money as possible. Consumers are doing so in a variety of ways, including buying more generic things and cooking their own meals instead of going out. As a result, food processing companies are getting more creative in order to reduce the cost of goods sold, attract more customers, and increase profit margins.
Obesity has a tremendous impact on the global food and beverage industry. The desire for healthful foods has grown, as has the demand for more detailed nutritional information. Companies have responded by launching lower-calorie foods and tightening control over how their brand is viewed in response to both of these changes. Companies want to be viewed as a healthy brand, thus they support activities that indicate this, such as youth sports. There has even been talk of levying a tax on foods linked to obesity to deter people from eating them.
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Market Segmentation:
Type Outlook (Volume, Kilo tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- Isolates
- Concentrates
- Textured
Form Outlook (Volume, Kilo tons; 2018-2028 And Revenue, USD Million; 2018-2028)
- Powder (Dry)
- Paste (Wet)
Distribution Channels Outlook (Volume, Kilo tons; 2018-2028 And Revenue, USD Million; 2018-2028)
- Supermarkets
- Health Stores
- Online Stores
- Others
Applications Outlook (Volume, Kilo tons; 2018-2028 And Revenue, USD Million; 2018-2028)
- Beverages
- Bakery products snacks
- Confectionery
- Meat
- Nutritional supplements
- Others
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Pea Protein market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Pea Protein market.
The Global Pea Protein Market Is Segmented Into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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