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Global Pea Protein Market is expected to grow at a CAGR of 24.3% during the forecast period from 2019-2025
Global Pea Protein Market 2019, Global Pea Protein Market Growth , Global Pea Protein Market Trends and Analysis,Pea Protein
Pea Protein Market by Type (Isolates, Concentrates, Textured), Form (Dry, Wet), Application (Meat Extenders and Analogs, Nutritional Supplements, Beverages, Others), Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
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Leading companies in the industry include A&B Ingredients, RoquetteFreres Le Romarin, BurconNutrascience Corporation, CosucraGroupeWarcoing SA, Glanbia, Plc. Nutri-Pea Limited, Sotexpro SA, Axiom Foods, Inc., Farbest Brands/Farbest-Tallman Foods Corporationamong otherswhichare offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.For instance, December 2018, Axiom Foods introduced Cannatein, a hemp protein ingredient, and Vegotein N, a pea protein ingredient. Because of the ingredients' neutral taste, flavor-masking agents are not needed in applications containing the ingredients, according to Marina Del Rey-based Axiom Foods.
The type segment is classified isolates, concentrates and textured. The isolates segment is dominating the market and valued around USD 16.23 Million in 2017. Isolates comprise protein content amounting to approximately 95%, which presents its application as dietary supplements in the sports nutrition industry. These products are also used as texturizing agents in meat goods, owing to their properties, such as excellent emulsification, high amino acid content, good water-binding characteristics, and high solubility. Form segment is divided into segments such as dry and liquid. The dry segment is dominating the market with the highest share of 63.20% in 2017. Dry textured pea protein is used in meat analogs, extenders, and substitutes due to which there is a rapid increase in its demand. Application segment includes meat extenders and analogs, snacks & bakery products, nutritional supplements, beverages, and others. Nutritional supplements segment is dominating the pea protein market and valued around USD 12.98 Million in 2017. Increasing concern for health and wellness is expected to propel the growth of the dietary supplements segment.
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The growing vegan population is one of the driving force. Also, technological improvement in extrusion & processing and strict environmental and changing consumer lifestyles with increasing health concerns are also fuelling the growth of the market. But Cost of pea proteins is too high which may deter market growth. However, the growing need for plant-based alternatives to meat products may influence the market growth in the coming years.
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