DUBLIN--(BUSINESS WIRE)--The "North America Pea Protein Market 2018-2023 - Size, Trends, Competitive Analysis and Forecasts" report has been added to ResearchAndMarkets.com's offering.
The market value of North American pea protein stood at $19.3 million in 2017, and is forecasted to grow at a CAGR of 9.6% during the forecast period.
North America pea protein market represents largest market share in the world. The market is driven by growth in Canada, and U.S. market. Canada and U.S. have huge potential not only in terms of possessing high processing technology but also in terms of abundant raw materials. Canada is the largest dry pea producing nation in the world with U.S. behind by 4 places. Both the countries are also leading exporters of the peas in the world. Given such resources and technological capabilities of processing peas to develop wide range of its application, makes the region to lead the market of pea protein.
North American pea protein market is mainly driven by health conscious consumers who are looking for protein rich products. Today, obesity and overweight are the serious problems being faced by the population in the region. Government has taken various initiatives and is running different campaigns in schools, universities and in various organizations to raise the awareness and to urge the population to adopt healthy eating habits. The environmental concern about the harmful effects of animal farming is growing at the rapid rate.
The consumers in the North American region with Canada and U.S. in particular, are switching from animal meat to plant protein. Rising campaign about the presence of carcinogens in processed meat has led to gain in momentum for search for alternative products of the meat.
- Growing demand of plant based protein from vegan/vegetarian population
- Rising Health consciousness especially in developing countries
- Increasing demand for lactose-free, gluten free protein products
- High cost of production
- Growing threat from substitute products
- Low awareness about the pea protein based products
- Growing applications in sports nutrition & weight management
- Rising demand for plant based protein in food and beverage industry
- Burcon Nutrascience Corporation
- Shandong Jianyuan Group
- The Scoular Company
- Axiom Foods
- Farbest Brands
- Fenchem Inc
- Roquette Frerers
- Sotexpro S.A.
- Yantai Oriental Protein Tech Co., Ltd
- Cosucra Groupe Warcoing S.A.
- Hill Pharma Inc
- Ingredion Inc
- Kerry Inc
- Prinova Group LLC
- Puris, LLC
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