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North American Pea Fiber Market Accounts for Nearly 1/3rd of the Global Market Share – Fact.MR Study
Pea Fiber Market
The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry.
The report offers actionable and valuable market insights of Pea Fiber. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Pea Fiber Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Pea Fiber market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Pea Fiber
This newly published and insightful report sheds light on Market Insights of Pea Fiber, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Pea Fiber Market.
Based on the previous projections, market value for the pea fiber market was estimated to reach around US$ 18 Mn in 2020. However, with the COVID-19 outbreak, the year-on-year market growth is projected to plunge to around 5% in 2020. Q1 is expected to bear a significant brunt of the pandemic. The market is expected to become more stable by the end of the third quarter. Joint efforts made by players to expand their production capacity will benefit market growth in the long run.
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Global Pea Fibers Market: Scope of the Report
The global pea fibers market report by Fact.MR offers a 10-year forecast from 2020 to 2030. The report elaborates on the key drivers, restraints, opportunities and threats to the expansion of the global pea fibers market. A detailed segmental analysis, based on product type, source, application, grade and regions has been provided in the report.
Regional analysis in terms of supply chain analysis, business execution and market value analysis provides an in-depth perspective about the future scope of the global pea fibers market. In addition, a separate section on market structure has also been provided. The section provides a detailed analysis of key market players and the strategies for expansion in the pea fibers market.
Pea Fiber Market Manufacturers’ Insights
The pea fiber market is partially fragmented with top players accounting for nearly 60% of the market. Established players in the market are focusing on the acquisition of smaller companies. Moreover, the top players of the pea fiber market are focusing on strengthening their position in the market by expanding their processing capacities.
Since 2018, COSUCRA has invested nearly US $103 Mn. in its pea processing plant and is focusing on raising revenue by nearly 50% by 2024. With an investment of nearly US $65 Mn in 2019, the company is opening its second facility in Europe. Similarly in 2019, Cargill Inc., invested nearly US $75 Mn. in its joint venture with PURIS to double the production capacity of the plant.
The pea fibers market has witnessed prolific growth in recent years and is poised to grow at a CAGR of nearly 8% by the end of the forecast period. Continuous efforts by market players to strengthen their supply chains is anticipated to provide leverage to the market. Thus, the market is slated to grow by nearly 2X during the forecast period (2020-2030).
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While multiple industries have been severely affected by the COVID-19 pandemic, minimal repercussions have been seen in the pea fiber market. At the same time, companies are focusing on increasing the production capacity of their plants which are presently located in least infected countries. For example, in Feb 2020, Roquette Freres SA increased its investment by US $4 Mn in an Israeli seed breeding startup Equinom.
The outer hull pea fiber segment is poised to dominate market demand owing to high demand for soups & sauces, beverages and bakery products. The outer hull pea fiber market is expected to grow at a CAGR of nearly 7% during the forecast period. In North America outer pea fiber demand is dominated by animal feed products and the market is expected to create an absolute $ opportunity of nearly US $ 10 Mn by 2020-2030.
Key Takeaways of Pea Fiber Market Study:
The North American pea fiber market is expected to grow at a CAGR of nearly 9% during 2020-2030 owing to the rising demand for organic labels in the market.
Pea fiber demand for animal foods is expected to expand nearly 2X during 2020-2030 owing to high demand growth for pet food.
The utilization of pea fiber in bakery products, is expected to showcase an absolute $ opportunity of nearly US $ 4 Mn during the forecast period.
South Asia and Oceania pea fiber consumption is expected to grow by nearly 2X, owing to the rising shift towards special diets from traditional staples.
“North America is expected to be a highly lucrative pea fiber market, owing to the humungous opportunities in food grade applications of pea fiber, wherein the demand among beverages is expected to be significant.” says the Fact.MR analyst.
Players are Focusing on a Diverse Product Portfolio
The market for pea fibers is partially fragmented where tier 1 and tier 2 players account for a significant portion in the market. Companies are focusing on extension of their product portfolio and expansion by increasing capacity of the production.
For instance, in 2019, Avena Foods Ltd. launched OAT ‘N’ LENTIL PUFF and in 2019, Roquette Freres SA launched 3 new products to extend its product portfolio. They also opened an R&D laboratory in Lithuania.
Read More Trending Reports of Fact.MR-https://www.einpresswire.com/article/556952826/why-is-the-japan-an-opportunistic-cellulose-automotive-air-filter-landscape-report-fact-mr
Key Question answered in the survey of Pea Fiber market report:
Sales and Demand of Pea Fiber
Growth of Pea Fiber Market
Market Analysis of Pea Fiber
Market Insights of Pea Fiber
Key Drivers Impacting the Pea Fiber market
Which are the Key drivers impacted by Pea Fiber market
Restraints Shaping Market Growth
Market Survey of Pea Fiber
More Valuable Insights on Pea Fiber Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Pea Fiber, Sales and Demand of Pea Fiber, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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