Press release
Pea Protein Market to Reach Valuation of $176.03 Million by 2025
Pea Protein Market
High nutritional profile of pea proteins, high demand for plant-based proteins from vegan population, and consistent growth in food & beverages industry have fueled the growth of the global pea protein market. On the other hand, increasing market penetration of other proteins, formulation challenges in pea protein products, and low consumer awareness about the same have restrained the growth to some extent.
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Nevertheless, rising demand for pea-protein-based sports nutrition & weight management products and growing use of pea proteins as alternative protein source for pet foods have created multiple opportunities in the segment.
Based on type, the pea protein isolate segment was contributed to the highest market share in 2017, and is expected to grow at a CAGR of 22.8%. Based on form, the dry based pea protein segment accounted for 72.14% and is anticipated to dominate throughout the forecast period. Based on application, the dietary supplement segment generated the highest market share and is projected to grow at a significant CAGR of 24.2%. Based on geography, the Asia-Pacific region contributed to 18.70% of the pea protein market share in the global pea protein market in 2017 and is predicted to grow at a significant CAGR of 25.0% throughout 2018-2025.
Top Key Players: They include Roquette Freres Le Romarin, Burcon Nutrascience Corporation, Cosucra Groupe Warcoing SA, Shandong Jianyuan Foods Co., Ltd., Glanbia, Plc., Sotexpro SA, A&B Ingredients, Axiom Foods, Inc., Farbest Brands/Farbest-Tallman Foods Corporation, and Nutri-Pea Limited.
These players have adhered to several top-end strategies such as partnerships, collaboration, mergers & acquisitions, and new product launch to strengthen their foothold in the industry.
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Key Findings of the Pea Protein Market:
• The pea protein isolate segment was the highest contributor to the market in 2017, and is projected to grow at a CAGR of 22.8%.
• The dry based pea protein segment accounted for 72.14% and is expected to grow at the CAGR of 23.4% from 2018 to 2025.
• The Asia-Pacific region accounted for 18.70% of the pea protein market share in the global pea protein market in 2017 and is projected to grow at a significant CAGR of 25.0%.
• In 2017, China accounted for the highest pea protein market share accounting approximately for 23.1% in the Asia-Pacific region.
• In 2017, the dietary supplement segment generated the highest market share and is expected to grow at significant CAGR of 24.2%.
• The meat products & alternatives segment accounted for almost 12% share of the pea protein market in 2017.
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