London, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Predominantly driven by the soaring consumer awareness toward personal health, and an increasing number of animal welfare initiatives, global pea protein ingredient market is expected to rise high in the next few years. Between 2021 and 2025, a new report of Fairfield Market Research forecasts nearly 1.4x expansion of market revenue. Reaching over US$1,374.3 Mn by 2025 end, pea protein ingredient market is likely to witness 8.4% growth. A mass consumer shift to veganism, and growing realisation of the potential benefit of plant-based products further uplift the scope of growth for pea protein ingredient market. The role of food regulatory bodies will remain crucial, says the report.
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Key Research Insights
- Global sales of pea protein ingredient are likely to worth around US$1,374.3 Mn by 2025 end, up from nearly US$973.5 Mn recorded in 2021
- Conventional ingredients remain the dominant category through 2025, maintaining the revenue share of over 83%
- Pea protein ingredient market in North America, and Europe represent a collective revenue share of more than 65%
Insights into Segmental Analysis
While organic ingredients have been experiencing the boom over the recent past, dominance of conventional pea protein ingredient prevails in global pea protein ingredient market. Ballooning consumer interest growing around the organics has been elevating the prospects of organic category, suggests the report. However, the conventional counterpart will continue to sell higher, registering over 83% share in the total market revenue. The report clearly attributes this maintained dominance to the sustained uptake of the conventional variant of pea protein ingredient by the processed food sector. On the other hand, the isolate remains a preferred format, whereas the consumption continues to be the maximum in food and beverages industry that accounts for more than half the market value generation.
Key Report Highlights
- The rise of health foods category significantly complements the performance of pea protein ingredient market
- A mass consumer shift toward plant-based augurs well for the market growth
- Food and beverages industry registers the maximum consumption, followed by pharma and dietary supplements
Insights into Regional Analysis
North America, and Europe remain the significant markets with a collective revenue share of more than 65% in global pea protein ingredient market. With the trend of veganism flourishing across the developed regions, and prospects of allergen-free ingredients see consistent growth, pea protein ingredient market across the North American, and European regions will reflect strong growth potential. On the other side, while pea protein ingredient market reflects high growth potential in Asia Pacific, even the key economies like China, Australia, Japan, and India reportedly have the market in its nascent stage. Development of a regulatory framework that is highly supportive toward plant-based products is afoot and touted to be a highly significant growth influencer for the market here. Additionally, the flourishing quick service restaurant (QSR) sector across the Asian countries will play an important role in the market build-up.
Key Companies in Global Pea Protein Ingredient Market
The report covers some of the prominent players in global pea protein ingredient space under the competitive analysis section, which include Ingredion Incorporated, PURIS, Roquette Group, Emsland Group, DuPont de Nemours, Inc., Axiom Foods, CosucraGroupeWarcoing SA, The Scoular Company, and BurconNutraScience Corporation &Glanbia plc.
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REPORT SCOPE
| Report Attributes | Details |
| Base Year | 2020 |
| Forecast Year | 2021 – 2025 |
| Market Size in 2021 | US$973.5 Mn |
| Estimated Market Size in 2025 | US$1,374.3 Mn |
| CAGR | 8.4% (2021 - 2025) |
| Key Players | Ingredion Incorporated, PURIS, Roquette Group, Emsland Group, DuPont de Nemours, Inc., Axiom Foods, CosucraGroupeWarcoing SA, The Scoular Company, BurconNutraScience Corporation &Glanbia plc. |
Market Segmentation
Nature Coverage
- Organic
- Conventional
Format Coverage
- Isolate
- Concentrate
- Hydrolysate
Application Coverage
- Food & Beverages
- Cereals & Snacks
- Meat Substitute
- Bakery & Confectionery
- Performance Nutrition
- Beverages & Desserts
- Animal & Pet Food
- Pharmaceutical & Dietary Supplements
- Cosmetics
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
Leading Companies
- Roquette Group
- Ingredion Incorporated
- PURIS
- Emsland Group
- Cosucra Groupe Warcoing SA Group
- Axiom Foods
- DuPont de Nemours, Inc
- The Scoular Company
- Burcon NutraScience Corporation
- Glanbia plc
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Format-wise Analysis
- Application-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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