ALBANY, N.Y., Aug. 11, 2020 /PRNewswire/ — The ascending health and environment-related concerns may bring expanding growth for the yellow pea protein market throughout the forecast period of 2020-2030. In addition, the growing influence of yellow pea protein in the pet industry is adding extra stars of growth. The high nutritional properties and low-fat content make yellow pea protein a perfect addition to pet food. Therefore, this aspect may help in raising the growth graph of the yellow pea protein market during the forecast period of 2020-2030.
The analysts at Transparency Market Research (TMR), after conducting extensive research on every growth parameter, have prophesied the global yellow pea protein market to expand at a healthy CAGR of 6.1 percent through the forecast period of 2020-2030. The global yellow pea protein market is anticipated at ~US$ 1.7 bn by the end of 2020 and is extrapolated to reach ~US$ 3.1 bn by 2030.
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The swelling number of consumers switching to plant-based food products may serve as a prominent growth generator for the yellow pea protein market. The growing number of new entrants introducing food products laced with yellow pea protein may bring tremendous growth opportunities for the yellow pea protein market between 2020 and 2030.
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Yellow Pea Protein Market: Major Findings
- The organic yellow pea protein market is prognosticated to expand at a CAGR of 7.1 percent while the conventional yellow pea protein market may dominate with ~93 percent market share in 2030
- Based on end use, the food processing segment is dominating with 50 percent market share and is projected to expand at a CAGR of 5.6 percent across the assessment period
- Sports nutrition segment may acquire ~26 percent of market share in 2020
- On the basis of processing type, the dry processing segment is leading with 68 percent share in 2020 and the wet processing segment is expanding at a CAGR of 5.8 percent through the forecast period
- From the geographical perspective, North America may contribute substantially, emerging as a leading growth contributor
- East Asia is predicted to grow with a CAGR of 8.4 percent by 2030
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Yellow Pea Protein Market: Growth Dimensions
The shifting preference of people to a plant-based diet for losing weight on the back of the high prevalence of disorders associated with obesity may bring efficient growth for the yellow pea protein market. The use of multiple channels for the distribution of products by varied channels may sow the seeds of growth across the yellow pea protein market.
- The increasing use of yellow pea protein products as a substitute to conventional ingredients may serve as a boon for the growth of the yellow pea protein market
- Acquisition of local organizations by multinational companies is leading to the strengthening of supply chain and easy raw material availability, eventually assisting the growth of the yellow pea protein market
- Adoption of a vegan lifestyle by a considerable populace may assist in the growth of the yellow pea protein market greatly
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Is COVID-19 a Boon or Bane for Yellow Pea Protein Market?
Every sector across the globe has been negatively affected by the lockdowns implemented by numerous countries on the grounds of the COVID-19 outbreak. The yellow pea protein market has also been affected minimally due to the SARS-CoV-2 pandemic. Therefore, disturbance in the supply chain may turn out to be a growth dampener.
However, the rising prevalence of zoonotic diseases like COVID-19 is leading to a switch in food preferences. A large populace is now moving toward vegetarianism and thus, this aspect may serve as a beneficial growth factor for the yellow pea protein market.
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By Product Type
- Protein Concentrates
- Protein Isolates
- Textured Protein
- Hydrolyzed Protein
By End Use
- Food Processing
- Meat Alternatives
- Bakery Products
- Snacks & Cereals
- Meat-based Products
- Functional Beverages
- Animal Feed
- Pet Food
- Sports Nutrition
- Infant Nutrition
- Cosmetics & Personal Care
By Processing Type
- Dry Processing
- Wet Processing
- North America
- Latin America
- East Asia
- South Asia
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Textured Pea Protein Market – The increasing demand for plant-based meat protein has resulted in rise in demand for textured pea protein products, thus propelling the growth of the textured pea protein market. Due to its functional properties and innovation in textured pea protein such as isolation of starch fiber to mimic meaty texture, manufacturer are moving from soy to textured pea protein products. Textured pea protein has functional benefits, particularly in gluten free applications, which include gelation, and increased browning and water holding.
Organic Pea Protein Market – The growing prevalence of organic pea proteins is primarily attributed to its positive water– and fat–binding capabilities, gelation and emulsification properties, nutritional values, and texture. Food manufacturers are exploring ways for integrating organic pea protein as a unique protein solution contributing to the desired texture/ functionality in food and beverages. All these factors are boosting the growth of the organic pea protein market.
Pea Protein Market – 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.
Pea Protein Nuggets Market – Proteins are added in many food products as they provide a wide range of benefits such as they help with aging and muscle loss, repair the cells of the body, aid in recovering and also in curbing the appetite and others. Nowadays, Pea proteins are gaining popularity and the pea protein nuggets market is observing growth as they add nutrients to the products and help to keep the gluten free items together. Pea protein nuggets are sustainably produced from conventional, non-genetically modified yellow peas that have 70% of protein content and offer functional benefits.
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