LONDON--(BUSINESS WIRE)--The global pea protein market is expected to grow by USD 16.16 million, as per Technavio. This marks a significant market slowdown compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 9%.
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The market is driven by the increasing demand for plant-based diets. In addition, the high nutrient profile of pea protein and rapid product expansion is anticipated to boost the growth of the pea protein market.
Growing consumer preference for sustainable and healthy eating habits has increased the demand for plant-based diets that majorly constitute of plant proteins such as pea and soy. Plant-based diets are rich in essential vitamins, minerals, and fibers and contain low amounts of saturated fat and cholesterol. Also, the high fiber content in most plant-based foods aids in healthy weight loss and significantly lowers the risk of developing heart diseases. Such multiple health benefits have increased the demand for plant-based foods across the world. These factors are positively influencing the growth of the global pea protein market.
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Major Five pea protein market Companies:
Axiom Foods Inc.
Axiom Foods Inc. operates its business through segments such as Protein Solutions, Sugars and Syrups, Dairy Alternatives, and Starches. The company offers a line of products such as VegOtein P, VegOtein TX, VegOtein N, VegOtein HP80, Vegotein MA, and others.
Burcon NutraScience Corp.
Burcon NutraScience Corp. operates its business through segments such as Peazazz, Canola Proteins, and CLARISOY. The company offers a neutral-tasting pea protein that is widely used in dairy alternatives, dry blended beverages, protein bars and crisps, and others.
COSUCRA - Groupe Warcoing
COSUCRA - Groupe Warcoing operates its business through segments such as Natural ingredients, Seeds expertise, and Animal food. The company offers the nutritious peas under brands such as Pisane, Swelite, and NASTAR.
DuPont de Nemours Inc.
DuPont de Nemours Inc. operates its business through segments such as Electronics and Imaging, Nutrition and Biosciences, Transportation and Industrial, Safety and Construction, and Non-Core. The company offers products such as TRUPRO 2000 Pea Protein and TRUPRO Pea Protein Nuggets, that are extracted from dried and ground yellow split peas.
Emsland-Starke GmbH
Emsland-Starke GmbH operates its business through segments such as Food Innovation, Retail and Food Service, Specialties, and Animal Food and Feed. The company offers pea protein isolate solutions such as Empro E 86 / Empro E 86 HV. The company also offers extruded protein crisps that are widely used in breakfast products, bars, and snacks.
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Pea Protein Market Geographic Landscape Outlook (Revenue, USD Million, 2020-2024)
- North America
- Europe
- APAC
- South America
- MEA
Pea Protein Market Product Outlook (Revenue, USD Million, 2020-2024)
- Textured pea protein
- Pea protein isolate
- Pea protein concentrate
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