Pune, India, March 03, 2021 (GLOBE NEWSWIRE) --
The global pea protein market size is predicted to register significant growth rate during the forecast period. With the entire world seeking to fortify their nutritional intake due to the threats posed by the present and future waves of pandemics, the demand for high-quality proteins such as pea protein has been amplifying. Apart from being naturally hypoallergenic, vegan, and a rich source of iron, pea protein also promotes improved heart health, muscle growth, and weight loss.
One of the most prominent drivers of the pea protein market is that they are associated with fewer side effects when compared with other alternatives such as whey proteins. Moreover, these products are highly suitable for individuals recovering from an illness as they aid in repairing and rebuilding muscle.
The following nine factors have been defining the pea protein industry outlook:
Expanded demand from millennials and athletes in Asia
The considerable rise in the demand for pea protein amongst millennials and athletes in Asian countries has been pushing the Asia Pacific pea protein market size in the region. These population segments have been gravitating toward vegan diets of late. They have been embracing meat alternatives, sport supplements, and nutraceuticals to fulfil their nutritional needs.
Sports supplements in APAC to see significant demand
The sports supplement segment in the Asia Pacific market has been registering remarkable demand and is anticipated to rise at a 15.5% CAGR through the forecast timeline. Pea protein function as a fuel source, apart from building muscle tissues. As a result, athletes & sportspersons across countries such as China, Thailand, Malaysia, and India have been spending a significant portion of their incomes on nutritional and sports supplements.
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Rising preference for meat substitutes
The meat substitute segment has been a leading application in the Asia Pacific pea protein market forecast and was valued at $10 million during 2019. Growing at a 16% CAGR through 2026, the market share from these products is expected to attain considerable gains as they possess meat-like characteristics such as similar texture, taste, flavor, and appearance.
Primarily being derived from plants, they are being increasingly consumed due to the rising concerns over the consumption of meat and meat products. The inclination toward vegan diets has been generating higher demand for meat substitutes.
Growing consumption across India
Being one of the largest producers of peas, India is slated to emerge as a leading pea protein market by 2026. The increasing incidence of digestive disorders amongst the population in the region has been generating considerable demand for these easily digestible products.
Indians have been approving pea protein products as they are gradually being exposed to the benefits of consumption. They have been consuming the ingredient-based products as part of their pre- or post-exercise meals, adding it to their breads, pancakes, muffins, and waffles.
Iron-deficiency amongst Americans
The growing demand for pea protein in the North America can be attributed to the rising number of individuals who have been suffering from the deficiency of iron. Nearly 10% of American women are diagnosed with iron deficiency. As pea protein contain a considerable amount of iron, they are gaining increased popularity as a nutritional supplement in the region.
Frequency of allergic reactions in North America
A considerable number of individuals residing in North America suffer from allergic reactions induced by consumption of foods such as lactose and similar milk compounds, shellfish, clams, wheat, eggs, and dairy products. Since high protein breakfast is a popular choice in the region, the usage of these proteins in biscuits and muffins has been increasing due to the minimal risk of allergies. The North America pea protein market share is augmenting as the ingredients have a competitive edge over their whey, wheat, and soy counterparts.
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Launch of new functional proteins in Europe
The trend of fortifying food products such as snacks and cereals with essential nutrients including iron and proteins has been aiding the expansion of the market in Europe. With the launch of new functional protein products by the leading ingredient producers, the demand for amino acid profiles in food has been spiraling.
For instance, recently in February 2021, Ulrick & Short announced the addition of a new functional protein to its range of products. The new ‘complex 24’ offers a neutral flavor, ensuring minimal effect on the taste of the final products. It can be added to snack bars, hot process beverages, and meat substitutes.
Pea protein isolates to accelerate demand in Europe
The Europe pea protein market has been bifurcated into textured pea proteins, pea protein concentrates, and pea protein isolates. The pea protein isolates segment is expected to offer substantial expansion opportunities through the assessment timeline, triggered by the versatility of the product in terms of application.
Growing at a 10.5% CAGR, isolate pea protein is being added to numerous formulations including beverages, nutritional diets, and sports supplements.
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Focus on weight loss
As they are extracted from natural sources, they have minimal sugar and zero fat content. This has been encouraging individuals who are seeking weight loss products. This is because pea protein can significantly regulate the appetite, control blood sugar levels, and boost metabolism.
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