Pea Protein Market worth US$ 104 Mn by 2026
Dietary supplementation will continue to be the largest application segment in 2016 as well, representing 40.5% revenue share of the global market. Bakery & snacks - another key application segment - will account for US$ 10.3 Mn worth of demand in 2016, and increase of 10.9% over 2015.
Among all pea protein types, concentrates will continue to account for highest demand, representing 32% revenue share of the global market in 2016.
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North America will continue to lead global demand, and increase its revenue share to 35.3% in 2016. Widespread availability of raw materials and manufacturing companies in the region will continue to boost demand for pea proteins in the region.
Roquette Frères, Cosucra Groupe Warcoing and Nutri-Pea Limited are market leaders in the global pea protein landscape. The global pea protein market is highly fragmented, with the top three players accounting for nearly 50% revenue share in 2015. Leading companies are looking to expand their production capacity and launch new product offerings in a bid to cater to growing demand for pea protein. Developing economies will remain a key target market for pea protein manufacturers in 2016 and beyond.
Long-term outlook: FMI maintains a positive long-term outlook on the global pea protein market, estimating global revenues to surpass US$ 104 Mn by 2026. In terms of volume, the global pea protein market is anticipated to expand at a CAGR of 12.0% over 2016 - 2026.
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