Posted By Uma Rajagopal
Posted on January 4, 2022
Increasing consumer interest in dietary protein has bolstered demand for pea protein globally. The pea protein market revenue totaled US$ 3.2 Bn in 2021, according to Future Market Insights (FMI). Exhibiting a CAGR of 14.2% for 2021-31, the market is expected to reach US$ 12.31 Bn by 2031.
The market’s growth trajectory is projected to stay positive, steered by rising demand for sports nutrition and nutraceutical products. As per FMI analysis, sports nutrition and nutraceutical will account for more than 41% of global pea market value share, exhibiting impressive growth through the forecast period.
Consumers are focusing on plant-based proteins sources due growing interest in vegetarian and vegan diets, clean label trends, and the need to minimize allergens from animal-based products.
Millennial consumers are increasingly concerned about their health and nutrition, which has led to increased adoption of organic and natural food, free of additives, with non-GMO certifications. This trend is expected to increase demand for pea protein in the global market.
Get more Insights Analysis on this Pea Protein Market@ https://www.futuremarketinsights.com/reports/sample/rep-gb-697
The COVID-19 pandemic had a significant impact on consumer food purchasing patterns. Consumers are focusing on food products that will help bolster immunity. Moreover, pea protein is a rich source of iron and it helps to improve the health and strength of consumers.
A growing millennial population is likely to create opportunities for food and beverage manufacturers. North America and Europe will continue to exhibit high demand for pea protein, while South Asia will emerge as a lucrative region for market players.
The global rise in obesity and diabetes rate is also influencing consumers to change their dietary habits, creating a conducive environment for pea protein sales.
Companies are therefore focusing on labelling their products appropriately in accordance to strict regulatory guidelines. Organic food products, for example, are identified through their labels, which often certify their 100 purity.
“The number of vegans and vegetarians on a global scale has risen dramatically in recent years as consumers actively pursue sustainable lifestyles. Following this trend, there has been an increase in demand for vegan and natural products, creating a favorable environment for growth of the market through the coming decade,” says a lead analyst at FMI.
Clean-label food products are becoming popular in the market. Pea protein is usually non-GMO and gluten-free. Therefore, it ideally falls in clean-label food categories. Rising demand for vegan, non-GMO, gluten-free and organic products in the food industry bolster demand in the pea protein market.
Get Customization on this Report for Specific Country: https://www.futuremarketinsights.com/customization-available/rep-gb-697
The pea protein industry is influenced by growth in premium protein lines. Premium product sales are currently mainstream in Japan, and are increasingly distinguishing themselves from private label options. Premium ‘selected’ product versions are aimed at consumers who are willing to pay a higher price for high-quality ingredients.
Key Takeaways from the Pea Protein Market Study:
- The U.S. pea protein market leads in North America and accounts for 82% in 2021. Rising awareness towards personal health from millennials aids growth.
- Germany leads the Europe market, supported by the presence of key food processing units, accounting for nearly US$ 222 Mn in 2021.
- Japan is emerging as a high potential market in East Asia, reflecting a 18% CAGR through 2031, driven by demand in the cosmetic and personal care sector.
- Conventional pea protein holds a share of 90.8% of the global pea protein market in 2021, supported by easier access to raw materials.
- Protein isolates, driven by high protein content accounted for a market share of 46.3% in 2021 of the global market.
Contact Sales for Further Assistance in Purchasing this Report- https://www.futuremarketinsights.com/checkout/697
Competitive Landscape
Pea protein manufacturers are largely focusing on offering products through various online retailers to meet the needs of the vast global consumer base. Efforts towards complying with quality expectations for pea protein products are gaining traction in the industry.
Some of the leading companies offering pea protein products include Glanbia Plc., Roquette Frères, Cargill Inc., Kerry Group PLC, DuPont De Nemours Inc., The Scoular Company, Puris Proteins LLC, Burcon NutraScience Corporation, Cosucra Groupe Warcoing S.A., Bata Food, Shandong Jianyuan Group, Axiom Foods, Inc., The Green Lab LLC and others.
Contact Us:
Future Market Insights
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: [email protected]
For Media Enquiries: [email protected]
Website: https://www.futuremarketinsights.com
Increasing consumer interest in dietary protein has bolstered demand for pea protein globally. The pea protein market revenue totaled US$ 3.2 Bn in 2021, according to Future Market Insights (FMI). Exhibiting a CAGR of 14.2% for 2021-31, the market is expected to reach US$ 12.31 Bn by 2031.
The market’s growth trajectory is projected to stay positive, steered by rising demand for sports nutrition and nutraceutical products. As per FMI analysis, sports nutrition and nutraceutical will account for more than 41% of global pea market value share, exhibiting impressive growth through the forecast period.
Consumers are focusing on plant-based proteins sources due growing interest in vegetarian and vegan diets, clean label trends, and the need to minimize allergens from animal-based products.
Millennial consumers are increasingly concerned about their health and nutrition, which has led to increased adoption of organic and natural food, free of additives, with non-GMO certifications. This trend is expected to increase demand for pea protein in the global market.
Get more Insights Analysis on this Pea Protein Market@ https://www.futuremarketinsights.com/reports/sample/rep-gb-697
The COVID-19 pandemic had a significant impact on consumer food purchasing patterns. Consumers are focusing on food products that will help bolster immunity. Moreover, pea protein is a rich source of iron and it helps to improve the health and strength of consumers.
A growing millennial population is likely to create opportunities for food and beverage manufacturers. North America and Europe will continue to exhibit high demand for pea protein, while South Asia will emerge as a lucrative region for market players.
The global rise in obesity and diabetes rate is also influencing consumers to change their dietary habits, creating a conducive environment for pea protein sales.
Companies are therefore focusing on labelling their products appropriately in accordance to strict regulatory guidelines. Organic food products, for example, are identified through their labels, which often certify their 100 purity.
“The number of vegans and vegetarians on a global scale has risen dramatically in recent years as consumers actively pursue sustainable lifestyles. Following this trend, there has been an increase in demand for vegan and natural products, creating a favorable environment for growth of the market through the coming decade,” says a lead analyst at FMI.
Clean-label food products are becoming popular in the market. Pea protein is usually non-GMO and gluten-free. Therefore, it ideally falls in clean-label food categories. Rising demand for vegan, non-GMO, gluten-free and organic products in the food industry bolster demand in the pea protein market.
Get Customization on this Report for Specific Country: https://www.futuremarketinsights.com/customization-available/rep-gb-697
The pea protein industry is influenced by growth in premium protein lines. Premium product sales are currently mainstream in Japan, and are increasingly distinguishing themselves from private label options. Premium ‘selected’ product versions are aimed at consumers who are willing to pay a higher price for high-quality ingredients.
Key Takeaways from the Pea Protein Market Study:
- The U.S. pea protein market leads in North America and accounts for 82% in 2021. Rising awareness towards personal health from millennials aids growth.
- Germany leads the Europe market, supported by the presence of key food processing units, accounting for nearly US$ 222 Mn in 2021.
- Japan is emerging as a high potential market in East Asia, reflecting a 18% CAGR through 2031, driven by demand in the cosmetic and personal care sector.
- Conventional pea protein holds a share of 90.8% of the global pea protein market in 2021, supported by easier access to raw materials.
- Protein isolates, driven by high protein content accounted for a market share of 46.3% in 2021 of the global market.
Contact Sales for Further Assistance in Purchasing this Report- https://www.futuremarketinsights.com/checkout/697
Competitive Landscape
Pea protein manufacturers are largely focusing on offering products through various online retailers to meet the needs of the vast global consumer base. Efforts towards complying with quality expectations for pea protein products are gaining traction in the industry.
Some of the leading companies offering pea protein products include Glanbia Plc., Roquette Frères, Cargill Inc., Kerry Group PLC, DuPont De Nemours Inc., The Scoular Company, Puris Proteins LLC, Burcon NutraScience Corporation, Cosucra Groupe Warcoing S.A., Bata Food, Shandong Jianyuan Group, Axiom Foods, Inc., The Green Lab LLC and others.
Contact Us:
Future Market Insights
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: [email protected]
For Media Enquiries: [email protected]
Website: https://www.futuremarketinsights.com
