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Getting Out Of The Static Curve To Decide The Growth Of Organic Pea Protein Market
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The pea protein market has witnessed substantial growth in the past few years, and this trend is expected to continue through the course of the forecast period of 2020 to 2030. The global pea protein market is estimated to rise at a steady CAGR of more than 6% over the next ten years.
Key Takeaways from Pea Protein Market Study
By form, hydrolysates are projected to exhibit a high CAGR over the forecast period in the global pea protein market. The key contributing factor is increasing demand for pea protein hydrolysates in supplements and functional food products.
Owing to higher utilization of pea protein in bakery & confectionery, meat additives, and others, the food & beverage application holds the highest market value share in the global pea protein market.
By nature, organic pea protein is anticipated to experience substantial growth during the forecast period. Rapid rise in consumption of organic food is flourishing the demand for organic pea protein in global market.
Pea protein is getting more importance in nutraceuticals, as it is considered as the most effective supplement. Rising number of health-conscious consumers demanding more products consisting pea protein as the main ingredient is aiding market expansion.
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Pea Protein Market: Competitive Landscape
The pea protein market is fragmented in nature. Companies are focusing on increasing production of pea protein isolates as they contain almost 80% of proteins. Demand for pea protein isolates is increasing in the dietary supplements segment, as they are considered as the most effective protein supplement for the vegetarian and vegan population. Furthermore, companies are targeting the introducing new pea protein products in food & beverages and nutraceuticals for health-conscious consumers.
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