Textured Pea Protein Market
Textured Pea Protein Market (Product Type: Yellow Peas and Green Peas; Nature: Organic and Conventional; End Use: Food Processing, Animal Feed, Nutraceuticals, Sports Nutrition, Infant Nutrition, and Cosmetic & Personal Care; and Processing Type: Dry Processing and Wet Processing) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Press Release :
Augmenting Consumer Interest in Plant-based Proteins to Drive Market
Trends and consumer preferences across the global food & beverages sector continue to evolve at a rapid pace due to an array of factors. A tectonic shift away from meat-based products can be witnessed across consumers in several regions of the world, particularly in Europe and North America. Mounting environmental concerns coupled with growing awareness pertaining to animal cruelty and the negative impact of meat products on human health have triggered a new wave of niche food trends during the past decade. Plant-based proteins have gradually gained considerable popularity over the past few years and this growing trend is expected to play a key role in boosting the demand for textured pea protein during the forecast period.
In addition, as consumer interest in non-meat-based proteins continues to rise at the global level, a number of players are venturing into the plant-based protein sphere to capitalize on prospective opportunities. Consumer awareness regarding a range of alternative proteins, particularly in developed regions, has surged, which, in turn, is projected to have a positive impact on the demand for textured pea protein. At present, market players operating in the current textured pea protein market landscape are increasingly focusing on curating marketing strategies to expand their consumer base.
At the back of these factors, along with the growing use of social media influencers to promote products, the textured pea protein market is expected to attain a market value of ~US$ 800 Mn by the end of 2030.
Request a sample to get extensive insights into the Textured Pea Protein Market
Biotechnological Innovations and Evolving Consumer Preferences to Facilitate Market Growth
The growth of the global textured pea protein market is expected to be primarily driven by two major factors– biotechnological innovations and evolving consumer preferences. Several players in the current market ecosystem are vying to establish a solid foothold in the market by investing considerable resources in research and development wherein replication of meat-based products is a major priority. In addition, several brands are also focusing on curating impactful and engaging social media marketing campaigns to create awareness and promote their products due to which, the demand for products made with textured pea protein has witnessed impressive growth in the past few years– a trend that is expected to gain considerable momentum during the assessment period.
To understand how our report can bring difference to your business strategy, Ask for a brochure
In addition, sensing the growing interest in plant-based proteins, investments toward the development of an array of plant-based protein products continue to move in the upward trajectory. The sales of plant-based food products continue to grow at a commendable pace worldwide due to significant growth in the number of non-meat eating population and niche food trends, including veganism. A range of consumer-packaged goods companies is also expected to upgrade their production infrastructure to gain a competitive edge in the current market landscape. At the back of the growing demand for plant-based proteins, companies in the textured pea protein market are also expected to focus on introducing biotechnological innovations, including fungal protein and cultured meat to the market.
Market Players Focus on Expanding Product Portfolio to Gain Ground
Sensing the growing interest for plant-based proteins, a broad range of food companies are currently focusing on expanding their product portfolio and introducing a range of products with textured pea protein in the market. In addition, as meat substitutes continue to gain considerable popularity, more number of players are expected to roll out plant-based meat substitutes– a factor that is expected to provide an impetus for growth of the textured pea protein market.
The market in developed regions is likely to exhibit a higher growth rate due to the entry of new players and the rapid entry of innovative products to the market. For instance, in July 2018, due to the growing demand for plant-based products, Roquette expanded its textured pea protein product portfolio by introducing NUTRALYS T70S – a textured pea protein that is suitable for vegans as well as vegetarians. In addition, in December 2019, the Healy Group launched PrimaTex, a textured pea protein for a range of plant-based food applications. Companies in the textured pea protein market are also focusing on reducing the carbon footprint from their manufacturing processes, and comply with the regulatory requirements.
Consumption of Plant-based Proteins on Rise amid COVID-19 Pandemic
The onset of the novel COVID-19 pandemic has led to major developments across the food & beverages sector. One of the glaring trends that has emerged during the COVID-19 pandemic is the growing demand for plant-based proteins across several regions of the world due to which, the demand for products with textured pea protein has increased in the first two quarters of 2020. The growing demand for plant-based protein is largely driven by a shortage of meat in various regions, growing uncertainty regarding meat consumption during the pandemic, and growing inclination toward a healthier lifestyle. Changes in the food supply chain coupled with restrictions on dine-in restaurants have played an imperative role in influencing consumer behavior over the past few months. In addition, as consumers continue to deem plant-based proteins as a healthier source of protein, the consumption of textured pea protein during the COVID-19 pandemic is expected to grow at a steady pace.
Stuck in a neck-to-neck competition with other brands? Request a custom report on Textured Pea Protein Market
The global textured pea protein market is expected to grow at an impressive CAGR of ~7.6% during the forecast period. The market growth is primarily driven by the growing inclination toward plant-based proteins and biotechnological innovations. In addition, as consumers continue to place plant-based proteins as a healthier protein alternative in comparison with meat-based products, the demand is set to witness considerable growth. Moreover, food companies should focus on research and development and upgrade their production infrastructure to cater to the augmenting demand for plant-based proteins, including textured pea protein.
Textured Pea Protein Market: Overview
- The global market value for the textured pea protein market stood at ~US$ 400 Mn in 2020, finds Transparency Market Research (TMR) in a recent study. According to the report, the market is expected to reach ~US$ 800 Mn by 2030 at a CAGR of 7.6%.
- Pea protein powder isolate is produced by isolating the protein from ground yellow peas or extracted from yellow peas. It is used as a supplement to reduce protein deficiency. In bakery and confectionery, it is typically used to increase the content of shakes and smoothies.
- Vegan, Hispanic, vegetarian population, lactose intolerant, and lactose-sensitive consumers prefer plant-based sources of proteins such as textured pea protein. In addition, textured pea protein is a rich source of iron with high quality of protein. It can aid heart health, muscle growth, and weight loss. The textured pea protein market has gained considerable popularity due to its many advantages such as ease of accessibility and affordability.
Textured Pea Protein: Market Frontrunners
- Dry and liquid pea protein are the key segments in terms of processing type; among these, the dry segment is leading with the market share of 68.1% in 2020. The textured pea protein has properties of lowering cholesterol levels and its high nutritional fiber content. Thus, the demand for dry pea protein is increasing, especially in supplement powder.
- Food processing, animal feed, nutraceuticals, sports nutrition, infant nutrition, and cosmetic & personal care are the key segments of the global textured pea protein market based on end use. Among these, the food processing segment holds the largest market share of 50%, followed by sports nutrition, which is expected to hold market share of 23.4% in 2020. As a plant-based ingredient, textured pea protein allows bakers to increase protein content in breads and other baked goods. In order to meet consumer demand, ingredient manufacturers are focusing on healthier food options of pea protein products in the confectionery & bakery segment.
- Based on nature, the textured pea protein market has been classified into organic and conventional. Conventional pea protein is leading the market with 93.8% share in 2020, as conventional pea protein is used in a variety of raw materials for several products. In addition, textured pea protein has soy free and gluten free properties. It has the ability to act as emulsifier, regenerative product, and offers high temperature stability.
- In terms of product type, the textured pea protein market has been categorized into yellow peas and green peas. Currently, in 2020, the yellow peas segment holds ~61.9% share of the textured pea protein market. Yellow peas has longer shelf life and highest percentage of protein content; they are used in multiple food applications, such as in pea milk and plant-based burgers, among others.
- In terms of processing type, the market has been categorized into dry processing and wet processing. The dry processing segment is expected to hold the maximum market share of 68.1% in 2020. Textured dry pea protein is used in various applications such as in making breads, savory, owing to its enhanced functionalities such as its appealing taste, texture, soy free, and naturally gluten, and is comparatively sustainable against conventional protein.
- North America holds the major share of textured pea protein market, which is ~36.9% in 2020, followed by Europe, accounting for 25% of the total market share, respectively. Increasing per capita disposable income and driving consumer spending on foodservice products worldwide is increasing the demand for textured pea protein. In North America, as textured pea protein supplements help in weight management and aid in reducing the risk of chronic diseases rising the demand for textured pea protein market.
- In addition, clean label vegan products such as dairy free and meat free chilled products are increasing the demand for textured pea protein market. Companies are more focusing towards plant-based products and are expanding & focusing more on their consumer appeal by staying away from animal ingredients. Increasing awareness about plant-based products, lactose intolerance products, and other life style diseases also drives the textured pea protein market. Several athletes and sport professionals are adopting vegan diet; this also breaking the myth related to plant-based protein. Thus, boost the demand for textured pea protein in North America.
Textured Pea Protein Market: Trends
- Positive Outlook Toward Sports Nutrition Market
Rising demand for plant-based products, consistent growth of sport & nutraceuticals industry, and innovative protein-based products have boosted the market for textured pea protein. Consumers are seeking more variety, flexibility, and creativity in their diet such as by experimenting with new flavors and mixing up traditional meal combination. As textured pea protein is antioxidants and contain fiber that are rich in compound, such as vitamins A, C, E, potassium, magnesium. This has boosted the demand for textured pea protein in sports and nutraceuticals industry.
The sports nutrition segment dominates the market, owing to rising demand for energy drinks, protein bars, and other supplements, especially among bodybuilders, fitness enthusiasts, athletes. The growing number of plant-based sponsored posts and endorsements is likely to drive growth.
- Growing Health and Wellness Proliferating Textured Pea Protein Market
Growing health consciousness trend influence the global plant-based protein market. Consumers, especially millennial, are pursuing a healthy lifestyle making them major consumers of healthy products, including plant-based variant. As plant-based product offers the same taste, flavor, and added nutritional values, consumers are more shifting towards plant-based supplements. The additional segment of nutrition is expected to increase its share due to increasing awareness among consumers of additional nutritional supplements to maintain a balanced diet.
- Rising Demand for Textured Pea Protein in Vegan Population
Veganism is one of the key drivers for the textured pea protein market, companies are more focusing on vegetarian and vegan population, owing to consumer demand for healthy and plant-based products. The rising demand for textured pea protein in the vegan population is due to health benefits and environmental and ethical concerns. Change in eating patterns and rising demand for low fat, raw vegan food, and dietary vegan products is fueling the demand for textured pea protein market.
Textured Pea Protein Market: Strategies
- Manufacturers are producing top quality, non-GMO, 100 percent natural, no preservatives or additives, allergen free textured pea protein products. Manufacturers are expanding new sales channels with growing investment in innovation for pea protein products range and consumer’s specific needs for texture and flavor. Manufacturer are more focusing on e-Commerce introducing various products with huge concession to boost online sales. The manufacturers are extensively focusing on M&A activities to expand their business opportunities and are seeking strategies to differentiate their ingredient portfolios based on plant-based proteins.
- In December 2019, British pea ingredient supplier, Novo Farina collaborated with Healy Group and launched textured pea protein PrimaTex for plant-based applications. The product is a clean label, as it comes in 100% natural and used to replace meat texture such Berger, meatball, and sausages. It has more than 65% protein content, High PDCAAS with Pea Protein, and clean label flavor profile.
- In September 2019, Ingredion, Inc., Westchester, Ill. launched Vitessence Pulse 1803 pea protein isolate, the product is organic certified and it can be used for various applications, such as powdered and ready-to-drink beverages, an alternative dairy and meat product baked food and baking mixes, sports bars, and nutrition.
- In December 2019, Roquette introduced new plant-based protein NUTRALYS ® TP-C with textured options, premium protein ingredients with new taste, fostering further plant-based alternatives, such as plant-based fish products including fish rillettes.
- In 2019, Exeller® N.V. launched Texta Pois™ 24/10 textured pea protein, which is made of selected non-GMO peas called Pisum Sativum. It has protein ingredients texturized as flake structure, owing to its elastic and fibrous texture after rehydration. In addition, it provides functionalities such as water and fat retention, chewing texture, color, and protein supply.
Target Region for Textured Pea Protein Market
- Europe is expected to have a major share of the textured pea protein market, followed by North America. Large-scale production and raw material costs are projected to significantly support the growth of the textured pea protein market in Europe during the forecast period. There is a rising demand for ‘All Natural’ products, owing to health issues concerning artificial ingredients and additives in food processing. Increasing concerns about consumption of red meat and associated cardiovascular diseases, and improving texture agent remain favorable factors for market growth. This is fueling the demand for plant-based food items.
Textured Pea Protein Market: Players
- Some of the leading companies operating in the global textured pea protein market, as profiled in the study, include
- Rouquette Freres
- Puris Foods
- Emsland Group
- Fenchem Inc
- The Green Labs LLC
- A&B Ingredients
- Glanbia PLC
- Axiom Foods Inc
- The Scoular Company
- Burcon Nutrascience Corp Cosucra Groupe Warcoing
- AGT Foods
- Shandong Jianyuan Foods Co., Ltd.
- Yan Tai Shuang Ta Food Co.Ltd
- Kerry Inc
- Batory Foods
Textured Pea Protein Market – Scope of the Report
Transparency Market Research (TMR) has recently published a market study on the textured pea protein market. It provides a detailed assessment of key market dynamics, including drivers, trends, opportunities & restraints, and detailed information about the textured pea protein market structure. The market study presents exclusive information about how the textured pea protein market will grow during the forecast period of 2020-2030.
Key indicators of market growth, which include year-on-year (Y-o-Y) growth of the market, value chain, supply chain analysis, and compounded annual growth rate (CAGR) have been elaborated in the study in a comprehensive manner. This information is intended to help readers understand the quantitative growth prospects of the textured pea protein market during the forecast period.
The study is intended to offer a holistic market overview to stakeholders in the textured pea protein, including manufacturers, suppliers, distributors, and investors, and to help them develop winning growth strategies. Stakeholders in the textured pea protein market, which include investors, industry experts, researchers, and journalists, and business researchers, can leverage the information and data presented in TMR’s study.
The study also includes statistics and facts related to the macro as well as microeconomic factors that are impacting expansion of the market. It also offers actionable insights into the future trends in the textured pea protein market. Furthermore, small businesses and new entrants in the textured pea protein market can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Questions Answered in TMR’s Textured Pea Protein Market Report
- Which region will continue to remain the most profitable regional market for textured pea protein market players?
- Which factors will induce a change in the demand for textured pea protein during the assessment period?
- How will the changing trends impact the textured pea protein market?
- How can market players capitalize on the low-hanging opportunities in the textured pea protein market in developed regions?
- Which companies are leading the textured pea protein market?
- What are the winning strategies of stakeholders in the textured pea protein market to catapult their position in the forefront?
Textured Pea Protein Market: Research Methodology
In TMR’s study, a unique research methodology is used to conduct extensive research on the growth of the textured pea protein market and identify future growth parameters. This research methodology is a combination of primary and secondary research, to help analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts for compiling the textured pea protein market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Information acquired from primary resources and secondary resources is compiled in a comprehensive manner. This also acts as a validation from companies in the textured pea protein market, which makes TMR’s projections more accurate and reliable.
Textured Pea Protein Market – Segmentation
TMR’s study on the textured pea protein market offers information divided into important segments — product type, nature, end use, processing type, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.