Pea Protein Market expected to rise at a CAGR of 13.6% from 2017 to 2025: Radiant Insights
Increasing consumption of gluten-free products for
treatment of celiac disease is expected to boost the pea proteins demand during
the forecast period. Rising concerns over non-celiac gluten sensitivity is
expected to result in rising consumption of gluten-free foods and is hence
anticipated to positively impact the industry growth. Furthermore, the popularity
of maintaining a gluten-free diet (GFD) owing to reduced carbohydrate intake
and stimulation of weight loss is anticipated to propel the use of pea proteins
over the forecast period.
Increasing importance of maintaining a GFD in
treating innate immune response, joint pain, and numbness is foreseen to fuel
the product demand in the future. Furthermore, this diet is gaining popularity
as an effective treatment for curing symptoms of autism in children. This in
turn is expected to drive the pea protein demand over the forecast period.
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Significant prevalence of lactose intolerance among
infants and children in developing regions such as Central & South America,
Asia Pacific, and Middle East & Africa is projected to be another
significant driver of the industry growth. Pea protein is one of the highly preferred
non-dairy substitutes, as it is characterized by good amino acid profile and is
easily digestible. These attribute make the product favorable for use in
various food & beverage products such as protein fortified health drinks
and sports nutritional foods.
Further
key findings from the report suggest:
• In terms of volume, bakery goods application is
expected to rise at a CAGR of 13.6% from 2017 to 2025, owing to the utilization
of pea protein as a fibrous and gluten-free product.
• Pea concentrates accounted for a revenue share of
27.2% in 2016. These products comprise 70-80% of protein content and are
favorably used in energy drinks and fruit mixes applications.
• The growth of the food & beverage industry in
Brazil, India, China, and Mexico as a consequence of increasing domestic
consumption coupled with the adoption of modern farming technology is expected
to drive the industry growth in the near future.
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• Companies are focusing on enhancement of their
business growth through significantly investing in research & development,
new product launches, and forward integration. Farbest and Roquette America
have forward integrated business operations as they are engaged in the
production as well as supply operations.
• In October 2014, Comax Flavors launched a new pea
protein masking range of food additives owing to minimize or reduce the
unpleasant flavor in the processed goods.
• In April 2014, Carmit Candy Industries launched a
wafer snack bar fortified with a dark chocolate coating and containing pea
protein aimed at eliminating the pea protein flavor.
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