Pea Protein Market Worth 359.4 Million USD By 2022
The Global Pea Protein Market is
poised to grow at a CAGR of 13.4% from 2017 to 2022 to reach USD 359.4 million
by 2022, according to the latest publication from Meticulous Research®.
The pea protein market is driven by the increasing awareness about the benefits
of protein and growing demand for protein-rich diet, growing health &
wellness trend, increasing consumers’ focus on meat alternatives, growing
demand from food & beverage industry, various advancements in ingredient
technologies such as microencapsulation, and increasing soy free and gluten
free trend. In addition, increasing inclination towards a vegan diet and
emerging economies such as Southeast Asia, Latin America, and Middle East &
Africa provides significant opportunities for the growth of this market.
However, significant preference for animal-based protein and consumer
preference to other plant proteins over pea protein restrict the growth of the
market to some extent.
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The global pea protein
market is mainly segmented by product type (pea protein isolate, pea protein
concentrate, and others), by application (nutrition & health supplements,
bakery, cereals & snacks, meat products & alternatives, beverages, and
others), and by geography (North America, Europe, Asia-Pacific, Latin America,
and Middle East & Africa).
On the basis of product
type, pea protein isolate commanded the largest share in the global pea protein
market in 2016. The large adoption of this product segment is mainly attributed
to its high protein content as well as high emulsification and stability properties
as compared to other types.
On the basis of
application, nutrition and health supplements segment accounted for the largest
share in 2016, owing to the increased applications of pea protein in this
segment due to its high digestibility and increased awareness about benefits of
pea protein to brain health, eye health, heart health, muscle mass, growth
issues, enhanced immunity, weight management, beauty from within, and sports
performance.
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Geographically, North
America accounted for the major share in the global pea protein market in 2016,
followed by Europe and Asia-Pacific. The largest share of this region is mainly
attributed to the growing health & wellness trend, growing health
supplement industry, increasing investments in pea protein space by major
players, rising concerns over animal products and protein, increasing vegan population,
and growing preference to meat alternatives.
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About Meticulous Research®
Meticulous
Research® is founded in 2010 and incorporated
as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company
under the Companies Act, 1956. Since its incorporation, the company has become
the leading provider of premium market intelligence in North America, Europe,
Asia-Pacific, Latin America, and Middle East & Africa.
Contact Us:
Viren Shrivastava
Viren Shrivastava
AVP- Global Sales and Marketing
Meticulous Research®
Tel: +1-646-781-8004
Email:
viren@meticulousresearch.com
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