Pea protein has a variety of application in the food and beverage industry. It is rich in essential nutrients and has an advantage of functional characteristics with a large amount of amino acids. They are segmented into concentrates, isolates and textured pea depending on their protein content. They are used at meat extender, substitutes and analogs. The global pea protein market is anticipated to witness a dramatic growth in its demand on account of rising concern for health and wellness among the consumers in all corners of the world. 

Changing lifestyle of the consumers is the key factor driving the demand for the global pea protein market. Adoption of a healthier lifestyle due to the increasing concern for health and wellness among the consumers across the world is pushing forward the demand for the global pea protein market. In addition, the increasing concern towards lactose intolerance levels is also driving the demand for the global pea protein market. Expansion of the nutraceuticals industry and the rising demand for gluten free products are also driving the global pea protein market. In addition, the rising consumption of meat substitutes, rising concern towards lactose intolerance levels and the optimistic outlook on the sports nutrition market are some of the major drivers for the global pea protein market.

Low consumer awareness of pea proteins is a major factor inhibiting 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.

Technological advancement in extrusion and processing is anticipated to serve as a suitable opportunity to the global pea protein market. Rising market for weight management products and the improved taste of texture pea protein are also considered to be suitable opportunities for the global pea protein market.

By product type, the global pea protein market has been segmented into isolates, concentrates and textured pea protein. Isolates are used in the formulation of meat substitutes because of its high content of amino acids, high solubility, favorable water binding characteristics and good emulsification. Moreover, isolates contain an approximate of 95% protein which makes them suitable for the sports nutrition industry. Isolates are expected to record the fastest growth during the forecast period. Owing to its fiber content similar texture to that of meat, textured pea proteins are increasingly used in beverages and dietary supplements. Concentrates are used in aquafeed, beverages and food due to its high protein content.

By product application, the global pea protein market has been segmented into snacks and bakery products, meat extenders and analogs, dietary supplements, beverages and others. The dietary supplements were the largest segment in terms of revenue in 2014 and are expected to maintain their position during the forecast period. Increasing concern for health and wellness is expected to propel the growth of the dietary supplements segment. However, meat substitutes are expected to witness the fastest growth during the forecast period owing to the rising concern for meat allergies resulting in the technological development of textured products similar to that of meat.

North America was the largest market for pea proteins in 2014 accounting for almost 35% of the total pea protein market. Asia Pacific is expected to be the fastest growing market for pea proteins owing to the rising consumption of nutrient rich food products.

A&B Ingredients, Farbest Brands, Roquette Freres, The Scoular Company, Axiom Foods Inc., Nutri-Pea Ltd., Sotexpro are some of the major players operating in the global pea proteins market.

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
  • Europe
  • 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.

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Pea Protein Market

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