May 25, 2020
According to a recent study titled ‘North America Pea Protein Market for Meat Substitutes Application Size by Product, By End-Use, Industry Outlook Report, Regional Analysis, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026’ available with Market Study Report LLC, North America pea protein market is expected to exhibit a strong growth rate through 2026.
Rising trend of veganism and vegetarianism, alongside extensive use of product in bakery items, sports supplements, nutraceuticals, dietary supplements and as meat substitute are driving the growth of pea protein market in North America. High digestibility, anti-allergen properties, significant iron content and various health benefits such as weight loss, muscle growth, and improved heart health are encouraging the adoption pea protein in everyday diet.
Based on the product type, concentrates segment is slated to witness sizeable growth over the forecast duration. Pea protein concentrates require minimal processing, are available in finely powdered form, and possess several nutritional benefits. They are used in protein shakes as gluten, allergen and lactose-free substitutes. This factor coupled with extensive product use in pet food formulation are bolstering the demand for pea concentrates.
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Elaborating on the end-use spectrum, North America pea protein market is classified into strips & nuggets, meatballs, burgers, and others including ground meat and sausage. The others segment is expected to accrue considerable gains by the year 2026. Ground meat and sausages made from pea proteins offer similar characteristics to that of original meat, including the aesthetic appeal and taste, which serves a major growth impetus for the industry. Citing an instance, Beyond Meat, plant-based meat producer added vegan sausage called Beyond Sausage among its various offerings. The product is prepared from rice, fava beans, and pea protein, rendering same aroma, texture, and taste as regular pork sausages. Such innovations and increase in number of vegan meat producers are expected to boost the segment growth in the coming years.
As per the regional analysis, Mexico held over 4.5% share of North America pea protein market in 2018 and is expected to witness significant gains over the forecast timeline. Consumer inclination towards veganism in tandem with changing dietary preference for animal cruelty-free products and plant-based meat substitutes are supporting the Mexico industry expansion.
Major players operating in North America pea protein market are Cargill, Roquette Freres, The Scoular Company, Emsland Group, Axiom Foods, Inc., Puris Proteins, LLC, DuPont, Ingredion, and A&B Ingredients.