Pea Protein Market Worth 359.4 Million USD By 2022, says Meticulous Research™

Monday, February 19, 2018 2:30 PM UTC

LONDON, Feb. 19, 2018 -- The global pea protein market is poised to grow at a CAGR of 13.4% from 2017 to 2022 to reach USD 359.4 million by 2022, mainly driven by “increasing awareness about the benefits of protein and growing demand for protein-rich diet, growing health & wellness trend, increasing consumers’ focus on meat alternatives, growing demand from food & beverage industry, various advancements in ingredient technologies such as microencapsulation, and increasing soy free and gluten free trend. However, significant preference for animal-based protein and consumer preference to other plant proteins over pea protein restrict the growth of the market to some extent,” Meticulous Research™ notes in a press release today.

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The report also notes that, “pea protein isolate commanded the largest share in the global pea protein market in 2017. The large adoption of this product segment is mainly attributed to its high protein content as well as high emulsification and stability properties as compared to other types.”

The report further notes that, “North America accounted for the major share in the global pea protein market in 2017, mainly attributed to the growing health & wellness trend, growing health supplement industry, increasing investments in pea protein space by major players, rising concerns over animal products and protein, increasing vegan population, and growing preference for meat alternatives.”

The key players in this market are Roquette Freres Le Romarin (France), Ingredion Inc. (U.S.), Kerry Group (Ireland), NOW Foods/NOW Health Group, Inc. (U.S.), Axiom Foods Inc. (U.S.), Burcon Nutrascience Corporation (Canada), Glanbia plc. (Ireland), Cosucra Groupe Warcoing SA (Belgium), SOTEXPRO SA (France), Farbest Brands/Farbest-Tallman Foods Corporation (U.S.), and Emsland-Stärke GmbH (Part of Emsland Group).

Browse in-depth report on: http://www.meticulousresearch.com/product/pea-protein-market-2022/

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