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Pea Protein Market Analysis, Trends and Future Outlook, Market Size, Application Analysis, Regional Outlook, Competitive Strategies and Forecasts, 2016 To 2024

  1. Published: December, 2015
  2. Format: Electronic (PDF)
  3. Number of pages: 84
  4. Industry: Nutraceuticals & Functional Foods

Pea protein is a type of food additive that hasa neutral taste. It is majorly used in dairy alternatives such as yogurt and cheese. The pea protein market is anticipated to grow exponentially owing to health conscious population and an increase in the usage of pea proteins food supplements. The growing consumer attention towards health benefits associated with the consumption of pea proteins has been responsible for market growth. Increasing acceptance ofmeat substitutes, concerns regarding lactose intolerance among adolescents combined with the interest in gluten-free products are some of the major drivers expected to drive pea protein market. The favorable outlook towards sports nutrition is aiding the growth of the pea protein market. However, other plant-based substitutes such as soy, canola, and wheat can be major challenges to this market. New product development and innovation could open up new avenues for growth in this market.

Meat substitutes are manufactured from isolates because of good water binding characteristics, emulsification, high amino acid content, and high solubility. They are also used in sports nutrition supplements as they contain 95% protein. Textured pea proteins are integrated into beverages and dietary supplements owing to its similar texture tomeat and high fiber content. Pea concentrates are used in aquafeed, beverages, and food as they are made up of 75% protein.

Dietary supplements are the largest application segment in this market. Increasing concerns about health and awareness about nutraceuticals is responsible for the growth of dietary supplements segment. The fastest growing application segment among the rest is meat substitutes. The increasing fear concerning meat allergies has given way to the development of foods having a similar texture as meat. The acceptance of meat substitutes by vegetarian population will have a direct impact on the growth of this segment. Fortified versions of these ingredients are being used by food and beverage manufacturers in energy drink-mix powders. Sports nutrition products are gaining prominence as they aid in muscle improvement among athletes. Pea proteins also act as substitutes for egg in terms of improved emulsification and they provide fluffiness in bakery products. The growth of this application could open up new avenues for the market.

North America is the key market for pea protein market. Growing concernsabout cardio-vascular diseases caused by the consumption of red meat, increased demand for gluten-free products, and booming sports industry are the major drivers in this region. The growing awarenessfor lactose intolerance and the acceptance of plant-based proteins can have a major impact on the growth of this market in Europe. The AsiaPacific market canexperiencehigh growth during the forecast period because of increasing consumption of nutrient-fortified foods and nutrient supplements. Increasing demand for allergen friendly supplements in sports and meat substitutes is expected to be a major factor drivingthe pea protein market growth. The improvement in regulations concerning agro-based industry in India and China would provide raw material to pea protein manufacturers.

The key players in this market are Burcon NutraScience Ltd., Roquette Freres, Nutri-Pea Limited, and Cosucra-Groupe Warcoing. These companies have formed strategic partnerships to supply their products in high demand regions. The formation of partnerships with members in the end use industries can be a critical success factor for the growth of this industry.

Burcon has developed a novel vegetable-based pea protein which is transparent, 100% soluble, and heat stable. It has clean flavor and aroma characteristics for easy formulation. Roquette Frères manufactures pea proteins under the brand name -NUTRALYS, which is extracted from dry yellow pea. The pea proteins manufactured by Nutri-Pea Limited are sold under the names Propulse, Propulse N, and Propulse S. Cosucra-Groupe Warcoing manufactures and sells pea proteins under the brand name PISANE.

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