June 12, 2020
According to the research report titled ‘Pea Protein Market Size By Product, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Repot LLC, global pea protein market is expected to register significant growth by the year 2026.
Increasing cognizance pertaining to health and fitness along with evolving consumer dietary preferences are major factors driving the pea protein market growth. The product is a prevalent supplement that is acquired by extracting protein from yellow peas. It is widely adopted to improve the protein content of smoothies and shakes.
Since it is vegan and naturally hypoallergenic, pea protein is ideal for various types of diets. It is a rich source of protein and helps in improving heart health, enhance muscle growth as well as aid in weight loss. Increasing awareness and innovative pea protein product launches are further aiding the market expansion.
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Rising concerns regarding the risk of developing chronic diseases by over- consumption of processed meat products has impelled the demand for pea protein products. Pea protein is witnessing worldwide recognition as a sustainable and viable alternative as non-meat-based protein. Supplements that comprise of pea protein also help in meeting the nutritional needs of lactose-intolerant people. Additionally, shifting preference towards vegetarian diet is stimulating the industry outlook.
Considering the geographical landscape, pea protein market in Middle East & Africa is predicted to expand with a CAGR of 12% between 2020 and 2026. Growing demand for high quality sports nutrition products and protein powders is favoring the market outlook in MEA.
On the other hand, Latin America pea protein market share is expected to cross USD 20 million by the year 2026, primarily due to growing trend of adopting vegetarian diets and evolving perceptions regrading nutrition.
The major contenders in global pea protein market are Glanbia Plc., Martin & Pleasance, Prinova Group LLC, Yantai Oriental Protein Tech Co. Ltd., Fenchem, The Scoular Co., Sotexpro, Shandong Jianyuan Group, Roquette Freres, Farbest Tallman Foods Corp., Cosucra-Groupe Warcoing and Burcon Nutrascience Corp. among others.