DUBLIN--(BUSINESS WIRE)--The "Canada Pea Protein Market 2018-2023 - Size, Trends, Competitive Analysis and Forecasts" report has been added to ResearchAndMarkets.com's offering.
The pea protein market of Canada was $6.29 million in 2017 in terms of revenue. With growing domestic demand combined with the growing exports of pea protein across the globe, the market is projected to reach $11.03 million, with the CAGR of 9.9% during the forecast period.
Growing vegan and vegetarian population in the country combined with the increasing health conscious population are driving the market in Canada. Moreover, the trend of healthy living among the youngsters in the Canada has been growing. These trends are expected to further strengthen the pea protein market in the Canada. Given the high export and the growing global demand of pea protein, the government in Canada are taking initiatives to increase the yield of the peas.
Government funded research institutes in collaboration with the farmers and the pea producing companies are taking various steps such as enhancing quality of pea and ensure maximum value for both the farmers and the companies to increase the market value of the country's pea protein.
Nutri-Pea Limited is the largest pea protein producer in Canada. It develops wide range of pea protein products and has a reputation to maintain consistent supply of pea protein and its products all over the world. The company's Propulse portfolio offers wide range of pea protein products. These products vary in terms of protein content and its application. The company is focusing to expand further in other market through implementing strategies such as capacity expansion in developing countries, acquisitions and joint ventures with the companies in developing regions.
- 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
For more information about this report visit https://www.researchandmarkets.com/research/nzwhxs/canada_pea?w=4