Global Pea Protein Market Size Will Reach to USD 1596 Million By 2026: Facts & Factors

Pea Protein Market Size

Pea Protein Market Size

Global Pea Protein Market is expected to grow at a CAGR of 14% and is anticipated to reach around USD 1596 Million by 2026.

NEW YORK, UNITED STATES, June 19, 2020 /EINPresswire.com/ — Findings from Facts and Factors report “Pea Protein Market By Type (Isolates, Concentrates, and Textured), By Form (Dry and Wet), Source (Split Yellow Peas, Lentils, and Chickpeas), By Application (Meat substitutes, Performance nutrition, Functional foods, Snacks, Beverages, Bakery products, Confectionery), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Pea Protein Market in 2019 was approximately USD 740 Million. The market is expected to grow at a CAGR of 14% and is anticipated to reach around USD 1596 Million by 2026.

Pea Protein is extracted from yellow or green peas and used in protein-enriched foods and protein supplements. The presence of essential amino acids in the pea protein helps improve blood circulation, calcium absorption, weight management, maintain healthy muscle, improve metabolism, and also regulate blood sugar levels. These properties of pea protein are likely to help surge its sales in the coming years. The lactose-free and 100% vegan nature makes it safe for dairy product sensitive individuals.

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Market Drivers:

The Pea Protein market is found to experience significant growth owing to the increasing use of bakery goods, dietary supplements, and beverages that are anticipated to drive the market. The rising demand for an alternative for meat and the growing concerns of lactose intolerance among grown-up has increased the demand for gluten-free products, thereby fuelling the growth of the Pea Proteins market. Additionally, the surging awareness concerning nutrition amelioration and inclination of people toward vegetarian foods is expected to drive the global Pea Protein market. The increasing expenditure on convenience food products, the importance of a flexitarian diet likely plays a crucial role in enhancing the product demand.

Market Segment Dominance:

Isolates category is estimated to hold the majority of the market share in the Pea Protein market

The isolate category is projected to dominate the global Pea Protein market owing to its increasing use in enhancing the performance of nutrition products, cereals, confectioneries, and plant-based dairy & meat products.

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·Meat substitutes category is anticipated to hold the largest share in the global Pea Protein market

The rising demand for meat substitutes, low processing costs, and easy storage have increased pea proteins’ acceptance in the plant-based meat market, thereby enhancing the market growth.

The dry category is expected to dominate the market
The dry category is expected to lead the global Pea Protein market owing to its rising use for various applications. In addition, its properties such as sustainability and improved functionality supplement the Pea Protein market expansion during the forecast period.

Regional Dominance:

Europe is expected to dominate the global pea protein market during the forecast period

Europe is expected to lead the global Pea Protein market due to factors such as high production & consumption of plant-based products and high raw material costs. In addition, the rising awareness regarding the benefits of pea protein and manufacturers complying with standards introduced by the EU regarding non-GMO products is likely to boost the expansion of the pea protein market in Europe.

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Market Players:

Some of the key players of the global Pea Protein market include Ingredion, Rouquette Freres, Puris Foods, Fenchem Inc, Emsland Group, A&B Ingredients, The Scoular Company, DuPont, Kerry Inc., The Green Labs LLC, Glanbia PLC, Axiom Foods Inc., Cosucra Groupe Warcoing, Burcon Nutrascience Corp, SotexPro, AGT Foods, Yan Tai Shuang Ta Food Co., Ltd., Shandong Jianyuan Foods Co., ET-Chem, Ltd., and Batory Foods.

This report segments the global Pea Protein market as follows:

Global Pea Protein Market: Type Segmentation Analysis

Isolates
Concentrates
Textured

Global Pea Protein Market: FormSegmentation Analysis

Dry
Wet

Global Pea Protein Market: SourceSegmentation Analysis

Split Yellow Peas
Lentils
Chickpeas

Global Pea Protein Market: ApplicationSegmentation Analysis

Meat Substitutes
Performance Nutrition
Functional Foods
Snacks
Beverages
Bakery Products
Confectionery

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Source: EIN Presswire