As per a recent market survey by Future Market Insights (FMI), sales for pea protein ingredients are expected to reach a valuation of US$ 2.5 Bn in 2031, rising at a 7.2% CAGR through 2031.
Rising popularity of pea protein can be attributed to its high protein content, sustainability, availability, intriguing functionality, affordability, and hypoallergenic properties. Owing to these benefits, various food and beverage companies are incorporating pea protein ingredients in their products. This is expected to propel sales of pea protein ingredients in the forthcoming years.
Along with being an affordable and sustainable plant-based protein, pea protein ingredients are a good source of immune-supporting supplements. The COVID-19 pandemic has prompted millions of people to shift to healthier diet, which in turn is spurring demand for pea protein ingredients.
Pea protein ingredients powders are just as easy to incorporate into shakes or smoothies as whey protein powders. They do not include any animal byproducts, making them fit for consumption for the vegan population. Pea protein ingredients supplements are easier to digest than traditional protein supplements as it solely contains plant-based proteins and amino acids like lysine and glutamine.
“Rising consumer preference towards organic and natural ingredients in food and beverages, along with research and development activities undertaken by key market players to diversify applications of pea protein ingredients will continue augmenting growth of the market through 2031,” says an FMI analyst.
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- The U.S. is estimated to account for more than 79.0% of the North America pea protein ingredients market in 2021.
- China is estimated to account for nearly 43.3% of the East Asia pea protein ingredients market share in 2021.
- Germany will emerge as a lucrative market, holding 16.3% of the Europe market share in 2021.
- Sales of pea protein ingredients are anticipated to continue rising in the U.K., holding 14.0% of the Europe market share.
- Demand for protein ingredients in India is expected to rise at a 11.4% CAGR over the forecast period.
- Thailand pea protein market is projected to expand at a 9.4% CAGR in 2021.
Some of the leading companies offering pea protein ingredients are A&B Ingredients Inc., Nutri Pea Ltd, Archer Daniels Midland Company, Kerry Group PLC., Cargill Incorporated, The Scoular Company, Axiom Foods, Inc., Batory Foods, PLT Health Solutions, Prinova Group LLC, and others.
Leading players operating in the global pea protein ingredients market are focusing on research and development to launch new products to cater to growing vegan consumers. Apart from this, players are investing in mergers, acquisitions and strategic collaborations to strengthen their presence in the pea protein ingredients market.
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Get Valuable Insights into Pea Protein Ingredients Market
FMI, in its new offering, provides an unbiased analysis of the demand for pea protein ingredients presenting historical demand data (2016-2020) and forecast statistics for the period from (2021-2031). The study divulges compelling insights on the demand for pea protein ingredients based on product type (isolates, concentrates and textured), application (bakery and snacks, dietary supplements, beverages, meat analogs/substitutes, others) and form (powder, liquid, others) across seven major regions.
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