The Worldwide Organic Pea Protein Industry is Expected to Reach $52.2 Billion by 2029
Dublin, Jan. 17, 2023 (GLOBE NEWSWIRE) — The "Organic Pea Protein Market – Global Industry Analysis (2019 – 2021) – Growth Trends and Market Forecast…
Dublin, Jan. 17, 2023 (GLOBE NEWSWIRE) -- The "Organic Pea Protein Market - Global Industry Analysis (2019 - 2021) - Growth Trends and Market Forecast (2022 - 2029)" report has been added to ResearchAndMarkets.com's offering.
Registering the revenue worth US$17.8 Bn in 2021, organic pea protein market is likely to reach nearly US$52.2 Bn by 2029 end.
Poised for around 2.9x expansion in revenue between 2022 and 2029, global organic pea protein market awaits excellent growth prospects in the next few years. In a newly released study, the publisher offers deep-dive insights into how the market has been developing and what would be the future prospects during 2022 - 2029.
The study anticipates the market to see 14.5% growth over this period and attributes the same to a visible industry shift toward vegan, plant-based, organic, and healthy. The report however also marks the fact that there has been a measurably large consumer population that remains reluctant about the choice of pea or other plant-based protein alternatives over the conventional animal sources.
Besides the health profile, texture, taste, and costs are projected to prolong this reluctance among prospective consumers, which would largely influence the growth of organic pea protein market through the end of forecast period.
Key Research Insights
- Beverage manufacturers continue to record more than half the total consumption of organic pea protein
- Protein isolates continue to be preferred over textures, and concentrates
- Europe currently accounts for over 1/4th share in market value and will maintain the lead throughout the period of projection
- Some of the leading brands in the market include Ingredion Incorporated, Axiom Foods, Inc, and Glabia plc
- Major players are likely to emphasize improved applicability through innovation
Beverages Register over 50% of Global Organic Pea Protein Consumption
Recording more than 64% share in market value, protein isolates continue to hold their dominance in global organic pea protein market. Higher consumer preference is expected to keep demand for isolates buoyant, followed by textures, and later concentrates.
Moreover, adoption remain the highest across beverages category. In addition to growing demand for organic pea protein as a supplement ingredient for smoothies, shakes, the hypoallergenic and vegan nature of the protein has been gaining traction across health drinks, and energy products as well.
Beverage manufacturing brands are thus likely to maintain a share of more than 50% in the global organic pea protein market. The meat extender and analogue segment follows as the next important application area, says the report.
Europe Remains in the Bandwagon with Approximately 25% Market Share
While the report expects organic pea protein market participants to discover the most rewarding opportunities in Asia Pacific, majorly on the back of the thriving nutraceuticals market, the developed western markets continue to be the epicentre of growth in long term.
Asia Pacific currently represents a roughly US$5 Bn market and is expected to benefit from an evolving consumer lifestyle that more favours health F&B categories. On the other hand, Europe remains in the bandwagon with around one-fourth of the overall market valuation.
North America also is an important market for the stakeholders, and investors in organic pea protein market space. The markets here will continue to thrive on account of the most favourable growth environment they offer to the most trending F&B categories, i.e., gluten-free, healthy, organic, and vegan. The role of retail will continue to be instrumental for organic pea protein market in Europe, and North America, says the report.
Key Market Players
Axiom Foods, Inc., Scoular Company, Ingredion Incorporated, Roquette Freres, Puris, Emsland Group, DuPont, A&B Ingredients, Glanbia plc, FENCHEM.
Key Topics Covered:
1. Executive Summary
2. Market Overview
2.1. Market Definitions
2.2. Market Taxonomy
2.3. Market Dynamics
2.4. Value Chain Analysis
2.5. Porter's Five Forces Analysis
2.6. COVID-19 Impact Analysis
2.7. Key Patents
3. Global Organic Pea Protein Market Outlook, 2019 - 2027
3.1. Global Organic Pea Protein Market Outlook, by Form, Value (US$ '000), 2019 - 2027
3.1.1. Key Highlights
3.1.2. BPS Analysis/Market Attractiveness Analysis
3.2. Global Organic Pea Protein Market Outlook, by Type, Value (US$ '000), 2019 - 2027
3.2.1. Key Highlights
3.2.2. BPS Analysis/Market Attractiveness Analysis
3.3. Global Organic Pea Protein Market Outlook, by Application, Value (US$ '000), 2019 - 2027
3.3.1. Key Highlights
126.96.36.199. Meat extenders & analogs
188.8.131.52. Snacks & bakery products
184.108.40.206. Nutritional supplements
3.3.2. BPS Analysis/Market Attractiveness Analysis
3.4. Global Organic Pea Protein Market Outlook, by End User, Value (US$ '000), 2019 - 2027
3.4.1. Key Highlights
220.127.116.11. Food & Beverages
18.104.22.168. Animal Feed
22.214.171.124. Cosmetics & Personal Care
3.5. BPS Analysis/Market Attractiveness AnalysisGlobal Organic Pea Protein Market Outlook, by Region, Value (US$ '000), 2019 - 2027
3.5.1. Key Highlights
126.96.36.199. North America
188.8.131.52. Asia Pacific
184.108.40.206. Latin America
220.127.116.11. Middle East & Africa
3.5.2. BPS Analysis/Market Attractiveness Analysis
4. North America Organic Pea Protein Market Outlook, 2019 - 2027
5. Europe Organic Pea Protein Market Outlook, 2019 - 2027
6. Asia Pacific Organic Pea Protein Market Outlook, 2019 - 2027
7. Latin America Organic Pea Protein Market Outlook, 2019 - 2027
8. Middle East & Africa Organic Pea Protein Market Outlook, 2019 - 2027
9. Competitive Landscape
9.1. Company Market Share Analysis, 2021
9.2. Company Profiles
9.2.1. Axiom Foods, Inc
18.104.22.168. Company Overview
22.214.171.124. Key Retailing Partners
126.96.36.199. Business Segment Revenue
188.8.131.52. Ingredient Overview
184.108.40.206. Product Offering & its Presence
220.127.116.11. Certifications & Claims
9.2.2. Scoular Company
9.2.3. Ingredion Incorporated,
9.2.4. Roquette Freres
9.2.6. Emsland Group
9.2.8. A&B Ingredients.
9.2.9. Glanbia plc
For more information about this report visit https://www.researchandmarkets.com/r/dmfk20
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