DUBLIN--(BUSINESS WIRE)--The "Asia-Pacific Pea Protein Market 2018-2023 - Size, Trends, Competitive Analysis and Forecasts" report has been added to ResearchAndMarkets.com's offering.
With increasing awareness about the health benefits of pea protein, the pea protein market is forecasted to reach $21.42 million by 2023.
The pea protein market in the region is mainly driven by China, Japan and Australia. China accounts for more than quarter of the revenue share of region. Pea protein market in China and Australia are the fastest growing market in the region. Increasing advertisements of protein nutritional products on main stream as well as on social media has been driving the pea protein market in the region. Market entry through mergers, joint ventures and collaborations is major strategy of global players to capture opportunities. The key global players are aiming to tap the market share by customizing products as per the local taste.
The food processing industry has witnessed advancements in Asia-Pacific region, particularly in China, Thailand and India. The industry is focused on innovating products as per consumer trends. Protein based products especially derived from plant proteins is the latest trend in the region and the food processing industry is using plant protein products in different food types. Pea protein has competitive advantage over soy or rice protein due to cheap cost and dexterity.
- 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/swv2vw/asiapacific_pea?w=4