Pea Processed Ingredients Market: Overview
The pea processed ingredients market is anticipated to witness steady CAGR during the forecast period of 2021-2031. The growing popularity of gluten-free products will also present an array of growth opportunities for the pea processed ingredients market.
The veganism trend is on the rise. A large number of individuals are inclining toward veganism due to the growing awareness about animal cruelty and the harmful effects of meat consumption on the human body. According to the data from ‘The Vegan Society’, as of 2018, there were nearly 600,000 vegans in the U.K, a 300% increase from 2014. These statistics highlight the growing influence of veganism.
The government bodies of various countries are also launching a string of initiatives to encourage its citizens to adopt a vegetarian lifestyle. The Chinese government had launched a new dietary guideline that pushes its citizens to reduce their meat consumption by nearly 50%. These initiatives propel the growth of the pea processed ingredients market.
On the basis of type, the pea processed ingredients market can be segmented into starch, protein, flour, and fiber. Pea processed ingredients are derived from chickpeas, yellow split peas, and lentils. The overwhelming utilization of pea processed ingredients in meat and meat substitutes, bakery, performance nutrition, snacks, confectionary, beverages, and others will assure considerable growth for the global market.
Transparency Market Research (TMR) has obtained considerable information on the overall growth trajectory of the pea processed ingredients market. The upcoming report on the pea processed ingredients market gives a detailed insight about diverse growth aspects. Furthermore, the COVID-19 impact is also included in the report.
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TMR W.I.N Approach
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Pea Processed Ingredients Market: Wholesome Competitive Insights
The pea processed ingredients market has numerous players involved in fierce competition. The players compete for attracting a good consumer base. The players invest in research and development activities to derive new formulations and mechanisms to inculcate these ingredients in various food products. Thus, these activities eventually help in increasing the growth rate of the pea processed ingredients market. Strategic collaborations also form an important part of the pea processed ingredients market growth trajectory.
Some well-entrenched players in the pea processed ingredients market are Groupe Warcoing SA, Emsland Group, AGT Food and Ingredients, Meelunie B.V, Axiom Foods, Inc., and Felleskjøpet Rogaland Agder.
Pea Processed Ingredients Market: Important Trends
Rising Popularity of Pea-Based Proteins to Increase Growth Prospects
Pea protein is prominently used for increasing the protein content of shakes and smoothies. This form of protein is hypoallergenic and vegan, Hence, it attracts considerable demand. It is a good source of iron and promotes weight loss, muscle growth, and heart health. Thus, all these factors prove to be beneficial for the growth of the pea processed ingredients market.
Growing Demand for Clean Food Labels Adding Value to Growth Structure of Pea Processed Ingredients Market
The expanding demand for clean label foods is boosting the popularity of pea processed ingredients. These ingredients are used in clean food labels for enhancing the texture, stability, and consistency of the particular product. It is also used in numerous meat and meat substitutes. Therefore, all these factors bring exponential growth for the pea processed ingredients market.
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Pea Processed Ingredients Market: Noteworthy Regions
North America’s pea processed ingredients market is prognosticated to adopt a dominating stance during the forecast period. The rising inclination of many individuals toward veganism and the focus of various players in the food and beverage industry on developing diverse product formats using pea will bring considerable growth for the pea processed ingredients market in North America.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.