Pea Protein: Top Key Players
The major players of the Pea Protein Market are Roquette Frerers, Burcon NutraScience, Cosucra-Groupe Warcoing, Nutri-Pea Ltd., Sotexpro, Axiom Foods, Farbest Brands, Shandong Jianyuan, Yan Tai Shuang Ta Food, The Scoular Co. and so on.
Pea Protein: Introduction
Increasing consumption of grains, increasing concerns regarding cardiovascular diseases, rising awareness among consumers regarding healthy and nutritious diet are the major factors which drive the Global Pea Protein Market. Also, rising vegan population, changing lifestyle of the consumers, rising importance of organic farming are some other factors which are expected to boost the growth of this industry.
Rich in essential nutrients, the Global Pea Protein Market is expected to witness a rapid growth for demand due to the rising concern for health and wellness among the consumers globally. Pea protein has wide range of applications in snacks, nutritional supplements, meat alternatives & extenders, bakery goods etc.
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Low consumer awareness of pea proteins is a major barrier for the growth of the global pea protein market. Consumers are yet to be aware of the positive effects of pea proteins. High cost of pea proteins along with the growing demand for other plant proteins is also restraining the market. Moreover, the rapid market penetration of animal protein is also barring the growth of the global pea protein market.
Pea Protein: Based on Geography
Based on Region, the Global Pea Protein Market is segmented into North America, South America, Europe, APAC and MEA.
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North America was the largest consumer accounting for 37.9% of the global volume in 2016. Increasing demand for gluten-free items in the U.S. and rising concerns towards cardiovascular diseases caused due to red meat consumption are important factors which are expected to positively impact market growth over the next eight years.
Asia Pacific is projected to grow at a fastest rate during the forecast period. Significant gains in the revenue of functional foods in Japan, China and India is expected to remain a key driving factor. Also, Europe was the second-largest consumer of the global industry in 2016. Rising concerns towards lactose intolerances along with shifting consumer inclination towards plant-based proteins in Europe is expected to have a positive impact on the growth of this industry.
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