DUBLIN, November 27, 2020 / PRNewswire / – The “Pea Protein Market – Growth, Trends and Forecasts (2020-2025)” report has been added to ResearchAndMarkets.com from offer.
The pea protein market (now referred to as the studied market) is expected to register a CAGR of 11.28% during the forecast period 2020-2025.
The growing demand for plant protein products across the world is pushing the major players to expand their plant protein business, as well as the development of new products, in line with consumer trends.
The market studied is also seeing a significant increase in the adoption of pea protein in several end user industries, especially in nutritional supplements, meat extenders and substitutes, due to its high protein content and its durability.
Main market trends
Growing demand for plant-based alternatives to foods of animal origin
The popularity of pea protein in food products is increasing due to the shift in demand from animal protein to vegetable protein. This trend towards a plant-based diet is associated with factors such as sustainability, health, religious views, and environmental and animal rights. According to data published by the Plant Based Foods Association, foods of plant origin United States saw notable growth in 2017 and 2018, with a single rate of 50% recorded by dairy replacement foods.
In addition, the production of vegetable proteins is considered to be more economical for the environment than animal proteins. Thus, government associations around the world are also promoting the consumption of sustainable and vegetarian food sources. For example, the European Vegetarian Union (EVU) encourages the European Commission to limit the production of animal products as part of its climate policy. The EU also encouraged decision makers to implement strategies to support societal food transition.
North America dominates the market, with Asia Pacific the fastest growing market
North America is the largest market, followed by Europe. Asia Pacific is an emerging market in the sector due to its growing, health-conscious, West-influenced population. Developing countries in South America and Asia present the most attractive markets due to the younger and larger population that employs.
Due to the huge development scope of the pea protein market in China, many local producers are entering the market, with the aim of supplying various pea protein products which serve as applications for different segments of the industry. For example, in 2019, Shandong Jianyuan Group, one of the leading market players that produces a wide range of pea protein powders with variable protein content that will be widely used in the food and complementary industry, announced its intends to expand its pea production. installation in the country.
The market studied is very fragmented, with many local and international players competing for market share. Ingredion Incorporated holds the dominant position in the market.
Other major market players are Cargill Inc., Dupont, Roquette Freres and Axiom Foods Inc. Along with expanding production, companies are using product innovation to meet growing demand for protein products. peas.
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
3.1 Market overview
4 MARKET DYNAMICS
4.1 Market factors
4.2 Market constraints
4.3 Porter’s five forces analysis
5 MARKET SEGMENTATION
5.1 By product type
5.2 By application
5.2.2 Extender and meat substitute
5.2.3 Nutritional supplement
5.2.6 Other applications
5.3 By geography
6 COMPETITIVE LANDSCAPE
6.1 Most active companies
6.2 Most adopted strategies
6.3 Market share analysis
6.4 Company profiles
6.4.1 Aliments Axiom Inc.
6.4.2 Roquette Frères
6.4.3 Cargill Incorporated
6.4.4 DuPont de Nemours Inc.
6.4.5 Glanbia PLC
6.4.6 The Scoular company
6.4.7 Emsland Group
6.4.8 Ingredion Incorporated
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information on this report, visit https://www.researchandmarkets.com/r/xk5lhw
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