WASHINGTON, Feb. 22, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the global Organic Pea Protein market finds that growing vegan population is expediting market growth. Primarily driven by increase in popularity of plant-based products, the total global organic pea protein market is estimated to reach USD 40.17 Billion by 2028.
The market stood at a revenue of USD 18.40 Billion in the year 2021, and is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.8%.
Furthermore, the growing consumer awareness about healthy diet is also anticipated to augment the growth of the global Organic Pea Protein market, states Vantage Market Research, in a report, titled “Organic Pea Protein Market by Type (Isolates, Concentrates, Textured), by Application (Meat extenders & analogs, Snacks & bakery products, Nutritional supplements, Beverages), by Function (Texturing, Emulsification, Gelation, Stabilization), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Market Dynamics:
Driver: Growing Vegan Population and Popularity of Plant-Based Products to Fuel Global Organic Pea Protein Market
Veganism is gaining immense popularity across the world especially in economies like the U.S., Canada, the U.K., and Australia owing to the increase in awareness among consumers and health consciousness. The plant-based products are considered to be one of the major drivers of sales growth across the globe. According to GFI, the sales growth of plant-based foods expected to beat the sales growth of overall foods. It also estimated that the sales of plant-based foods in the year 2020 grew by 27% and over the last two years it grew by 43% to reach around $7 billion. Furthermore, most of the leading manufacturers in the food industry across the globe are focussing on investing and innovating rapidly in the plant-based market. Additionally, the next-generation plant-based meat and dairy products are also becoming more competitive and better alternative to animal products which is further driving the demand for the market.
Driver: Growing Consumer Awareness about Healthy Diet to Stimulate Market Growth
With the outbreak of Covid-19, consumers today are turning to healthy, natural and organic ingredients. This inclination of consumer towards healthy diet with the changing lifestyle is expected to support the growth of the organic pea protein market in near future. Furthermore, the high nutritional profile of pea is also anticipated to support the growth of the market. The consumption of pea proteins provides nutrients like calories, protein, carbs, fiber, sodium and irons that helps in building muscle mass, reduce heart disease risks, and helps in digestion and fast absorption of fiber, among others. However, the high price of organic food products coupled with low consumer awareness about organic pea proteins may hamper the growth of the market. Moreover, the increase in preference towards organic food and rising investments in healthy products by food product manufacturing companies will further support the growth of the market.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the food industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The report on Organic Pea Protein Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
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Regional Analysis:
Asia Pacific to Witness Significant Growth in the Global Market
Asia Pacific is likely to witness significant growth in the organic pea protein market during the forecast period. This is attributable to the increasing consumer inclination towards healthy diet in emerging economies like India and China in the region. Additionally, the increase in nutritional supplement intake and rising demand for natural and plant-based products is also expected to support the growth of the organic pea protein market in near future. Furthermore, the increasing popularity of private-label organic brands among consumers along with the rising vegan population are also augmenting the regional growth of market.
List of Prominent Players in the Organic Pea Protein Market:
Scoular Company (U.S.), Axiom Foods, Inc. (U.S.), World Food Processing, L.L.C (U.S.), AIDP, Inc. (U.S.), Farbest Brands (U.S.), Shaanxi Fuheng Biotechnology Co., Ltd (China), Phyto-Therapy Pty. Ltd. (Australia), The Green Labs LLC (U.S.), Zelang Group (China), and Bioway (Xi'an) Organic Ingredients Co., Ltd. (China).
Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on "Organic Pea Protein Market by Type (Isolates, Concentrates, Textured), by Application (Meat extenders & analogs, Snacks & bakery products, Nutritional supplements, Beverages), by Function (Texturing, Emulsification, Gelation, Stabilization), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/organic-pea-protein-market-079583
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Organic Pea Protein Market?
- How will the Organic Pea Protein Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Organic Pea Protein Market?
- What is the Organic Pea Protein market drivers and restrictions?
- What will be the CAGR and size of the Organic Pea Protein Market throughout the forecast period?
Recent Developments:
December, 2020: Ingredion expanded its range of plant-based ingredient solutions with the launch of its protein isolate. VITESSENCE® Pulse 1803 pea protein enables food and beverage manufacturers across EMEA to meet increasing consumer demand for protein-rich products, in a broad-range of on-trend categories.
This market titled “Organic Pea Protein Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 18.40 Billion |
| Projected Market Size in 2028 | USD 40.17 Billion |
| CAGR Growth Rate | CAGR of 11.8% From 2022 - 2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Type
|
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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