Pea Protein Ingredient Market Projected to Gain Significant Value by 2024 | Future Growth Trends, Competitors Strategy

Market Insight

Furthermore, rising importance of organic farming owing to strong regulatory guidelines in the U.S. to provide incentives to farmers is expected to increase the farming of pea crop, which, in turn, will increase raw material availability in the market. All these factors will lead to the growth of North American market at a CAGR of 9.3% during the forecast period 2020-2024. North America is a leading pea protein ingredients market and is expected to grow substantially over the forecast period 2020-2024. Changing lifestyle along with increasing awareness towards healthy diet, and rising demand for energy drinks and processed foods are driving the market growth in this region. Moreover, increasing demand for gluten free products in the U.S. supported by rising concern towards cardiovascular diseases caused from red meat consumption is adding fuel to the market.

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Major Key Players

This report includes a study of strategies such as mergers, acquisitions, and product launches by the major used cooking oil market players. It further includes product portfolios, developments of leading players, which includes

Some of the key players profiled in the Global Pea Protein Ingredient Market are

  • A&B Ingredients. (U.S.),
  • COSUCRA (Belgium)
  • SOTEXPRO (France)
  • Nutri-Pea Limited (Canada),
  • Axiom Foods, Inc. (U.S.),
  • Cargill Inc. (U.S.)
  • CHS Inc. (U.S.)

Segments

Based on form, Pea Protein Ingredients Market are segmented as dry, wet and others. Dry form is holding a major share in the market for its vast applications in meat extenders, health supplements and bakery products. Moreover, liquid form is expected to grow due to its ease of getting blended in the food products.

Based on the application, it is segmented into dietary supplement, animal feed, food and beverages including meat substitute, functional beverages, bakery products, packaged goods and others. Among all, dietary supplement is dominating the market due to inclination of consumers towards health-conscious diet and consumption of sports supplement.

Regional Analysis

The Global Pea Protein Ingredients Market is segmented into Europe, Asia Pacific, North America and rest of the world (RoW). North American market projects the major share of the global pea protein market followed by Europe. The rising consumption of sports supplement is driving the market of pea protein ingredients in these regions. Moreover, increasing demand for gluten free items in the U.S. has made a positive impact in the pea protein ingredient market.

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