Pea Protein Market To Reach USD 51.2 Million By 2026 | Reports And Data

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Growing health awareness and increasing demand of gluten free products are the major factor influencing market growth.

Market Size – USD 31.4 Million in 2018, Market Growth - CAGR of 6.1%, Market Trends – Increasing health consciousness among individuals.

NEW YORK, March 18, 2019 (GLOBE NEWSWIRE) -- The global Pea Protein Market is expected to reach USD 51.2 Million by 2026, according to a new report by Reports and Data. This can be mainly associated with the rising adoption of vegan and vegetarian food among the western population. It is completely plant-based and thus ideal for vegetarians and vegans.

Pea protein is majorly used as a weight loss supplement. The protein has an ability to lower the ghrelin levels, the hormone is responsible for stimulating feelings of hunger. Along with weight loss, the protein also works to kidney functioning and heart health. These benefits of the pea protein drives the market globally.

Low consumer awareness about the pea protein-based products may hinder the growth of the market to a greater extent.

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Further key findings from the report suggest

  • The market is segmented on the basis of distribution channels into supermarkets, health stores, online stores and others. Supermarkets played a prominent role in distributing the product in 2018, with a CAGR of 6.1% during the forecast period. Several retailers have tied up with manufacturers for the distribution of pea proteins.
  • The market is segmented on the basis of type into isolates, concentrates and textured. Isolates are expected to witness the highest growth, with a CAGR of 7.6% during the forecast period, since they are used as the substitutes of meat.
  • The market is segmented on the basis of form into powder (dry) and paste (wet). Dry pea protein segment accounted for the largest market share in 2018 and is expected to dominate the segment throughout the forecast period with a CAGR of 7.2%, majorly due to its significant use in its consumption as nutritional health supplements, meat, and bakery products.
  • Powdered protein isolates can easily be added to shakes, smoothies, or protein-rich recipes, and can also be added into supplements and protein bars as well.
  • The market is segmented on the basis of applications into beverage, bakery products and snacks, confectionery, meat applications and nutritional supplements. Nutritional supplements segment dominates the market in 2018, with a CAGR of 6.9% during the forecast period.
  • The market is segmented on the basis of geography by North America, Europe, Asia Pacific, Latin America and MEA. North America dominates the global market, in 2018 with 29.0% of the market, attributed to the booming sports nutrition industry.
  • Key participants include Nutri-Pea Limited, Cosucra Groupe Warcoing, Roquette Frères, Sotexpro, Fenchem Biotek Ltd, Glanbia Plc, Yantai Shuangta Food Co, Prinova Group LLC, Burcon Nutrascience, AGT Food & Ingredients, Inc., Yantai T Full Biotech Co. Ltd., World Food Processing LLC., Suzhou Wanshen Flour Products Co, Yantai Shuangta Food Co, Shandong Huatai Food, Shandong Jindu Talin Foods Co, Shandong Jianyuan Foods Co Yantai Oriental Protein Tech Co, and Axiom Foods Inc. among others.
  • The companies have adopted various strategies including mergers, acquisitions and partnerships to hold on going trails and come up with new developments in the market.

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For the purpose of this report, Reports and Data have segmented global Pea Protein Market on the basis of type, form, source, distribution channels, application, and region:

  • Type Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Million; 2018-2026)
    • Isolates
    • Concentrates
    • Textured
  • Form Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Million; 2018-2026)
    • Powder (Dry)
    • Paste (Wet)
  • Source Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Million; 2018-2026)
    • Yellow split peas
    • Peas
    • Chickpeas
    • Beans
    • Lentils

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  • Distribution Channels Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Million; 2018-2026)
    • Supermarkets
    • Health Stores
    • Online Stores
    • Others
  • Applications Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Million; 2018-2026)
    • Beverages
    • Bakery products and snacks
    • Confectionery
    • Meat applications
    • Nutritional supplements
  • Regional Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Million; 2018-2026)
    • North America
      1. U.S.
    • Europe
      1. Germany
      2. UK
    • Asia Pacific
      1. China
      2. India
      3. South-east Asia
    • Latin America
      1. Brazil
    • MEA

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