Pea Protein Industry is set to register more than 12% CAGR between 2021 and 2027, supported by changing lifestyle patterns of consumers accompanied with increasing healthcare awareness.
Selbyville, Delaware, May 31, 2021 (GLOBE NEWSWIRE) --
The pea protein market revenue is expected to cross USD 325 million by 2027, according to a new research report by Global Market Insights Inc. Shifting consumer preference towards plant-based food and beverages is likely to fuel the demand for pea protein.
Textured pea protein product segment is anticipated to register over 14% CAGR in the predicted period. Growing trend of vegan diet among the health-conscious consumer due to spread of various flues and animal disease worldwide led to increase the demand for meat substitutes. This in turn have propelled the demand for textured pea protein as it is extensively used in the production of meat substitute products. Textured pea protein offers better levels of lysine and glutamine than other plant-based proteins, which has led to its higher Adoption over other plant-based alternatives. Textured proteins are comparatively less expensive than meat, fish and poultry and considered as an environment friendly source and sustainable option for protein.
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Some major findings of the pea protein market report include:
Textured pea protein product segment witnessed highest growth over the projected timeframe owing to increasing preference for vegan diet and plant-based protein sources.
In 2020, the nutraceuticals application holds the significant share of more than 10% of the global market, as it has superior properties such as high digestibility, high amino acid content and glutamine promoting health and wellness.
Major players in the market are focusing on strategic initiatives such as expansion of production capacity, mergers, acquisitions and new product launch to cater to rising demand of pea protein.
North America pea protein market is anticipated to register over 10.5% CAGR between 2021 and 2027 owing to increasing demand for gluten-free food products and rising veganism trend in the region.
Browse key industry insights spread across 180 pages 167 market data tables and 39 figures & charts from the report “Pea Protein Market Statistics by Products (Isolate, Concentrate, Textured), Application (Meat Substitutes, Nutraceuticals, Sports Supplements), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market 2021- 2027” in detail along with the table of contents:
Asia Pacific pea protein market is expected to register over 15.5% CAGR between 2021 and 2027. Growing demand for meat substitute and allergen-friendly sports & fitness supplements will fuel the regional market growth. Western influence on a large section of the population is increasing the demand for plant-based proteins, thus propelling the product demand. Also, growing sports activities in the region will drive the growth of nutrition, dietary supplements, and food & beverage sectors, which will propel the Asia Pacific pea protein industry landscape.
The major players operating in the global pea protein market include Scoular Company, Roquette Frerers, Glanbia Plc, Cosucra, Glanbia Nutritionals, and Shandong Jianyuan Group.
Browse the Toc of this report @ https://www.gminsights.com/toc/detail/pea-protein-market-report
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