Pea Protein Market Expected To Boost The Industry Growth At A CAGR 17.4% During 2019-2025 : Grand View Research Inc.

According to the latest report published by Grand View Research, Inc., the global pea protein market size reached up to USD 101.7 million in 2018 and is projected to exhibit a CAGR of 17.4% over the forecast period (2019-2025). Pea is a valuable part of both human and animal diet.  Organic farming initiatives, growing demand for meat protein, and popularity of sports nutrition are providing an impetus to farmers for increasing their pea production and improve raw material availability. It helps in lowering blood pressure, regulate sugar levels, achieve weight loss, and minimize risk of kidney diseases, which is estimated to stimulate market growth in the forecast period.

Owing to high nutritive quality, low cost, and good techno-functional properties, legume protein products are becoming more popular as an alternative to products of animal origin. Furthermore, growing concerns about lactose intolerance among infants and adults is driving industry expansion. A key drawback associated with using legumes as egg replacers are their antinutritional substance content, which has resulted into its nonacceptance among consumers. However, industry players are carrying out studies for optimization of legume-based products’ formulation, making them gain consumer acceptance and succeed in terms of market growth.

The key players functioning in the market comprise of Axiom Foods Inc.; A&B Ingredients; Roquette Freres; Farbest Brands; The Scoular Company; Nutri-Pea Ltd.; and Sotexpro among others.  In developed countries of Canada, Europe, and the U.S., pea protein is becoming a viable alternative to soy-based products because of nutritive and techno-functional characteristics. It enhances cardiovascular and gastrointestinal health, muscle strength, stimulates appetite, and assists in fat loss. Robust growth of North America’s sports nutrition industry and surging concerns toward cardiovascular diseases associated with excessive red meat consumption are likely to boost adoption of pea protein products. China, Japan, and India are primarily driving the industry in the Asia Pacific region. Upscaling population that follows religions like Hinduism, Jainism, and Buddhism that restrict consumption of animal-based products is proliferating pea protein demand in this region.