ALBANY, N.Y., Oct. 15, 2020
- The spiraling popularity of plant-based proteins and transforming consumer preferences toward a health and clean plant-based diet may bring sweeping growth for the textured pea protein market during the assessment period of 2020-2030
- The global textured pea protein market may expand at a CAGR of 7.6 percent across the forecast period of 2020-2030
ALBANY, N.Y., Oct. 15, 2020 /PRNewswire/ -- Burgeoning demand for plant-based meat protein is increasing the influence of textured pea protein among a considerable populace. This aspect may serve as a prominent growth aspect for the textured pea protein market during the assessment period of 2020-2030.
The researchers at Transparency Market Research, after a scrutinized study on every aspect related to growth, have reached to a conclusion that the global textured pea protein market is expected to expand at a CAGR of ~7.6 percent from 2020 to 2030. The global textured pea protein market was valued at ~US$ 400 mn in 2020 and is estimated to reach a valuation of ~US$ 800 mn by 2030.
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A notable rise in adoption of a vegan lifestyle is bringing immense growth prospects for the textured pea protein market. In addition, biotechnological innovations like cultured meat and fungal protein are also prognosticated to transform the growth landscape of the textured pea protein market drastically.
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Textured Pea Protein Market: Expert Suggestions
The analysts at Transparency Market Research point out the escalating preference toward plant proteins as a significant growth factor for the textured pea protein market. However, the analysts advise the players in the textured pea protein market to pay attention to research and development activities. The analysts also suggest the players to expand their production capacities to cater to the heightening demand for textured pea protein across a large populace.
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Textured Pea Protein Market: Key Findings
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Textured Pea Protein Market: Growth Propellers
Awareness about lactose-intolerant products and plant-based products is increasing significantly over the years. This aspect has brought tremendous growth prospects for the global textured pea protein market and expects to continue the same from 2020 to 2030.
The sizeable consumer base and the rising influence of textured pea protein serve as robust pillars of growth for the textured pea protein market. Based on these factors, the textured pea protein market attracts large-scale investments.
In addition, the players in the food and beverage industry are also entering the textured pea protein market seeing its heightening popularity. For instance, ADM, a leading supplier of nutrition solutions, launched Arcon T textured pea proteins. Such developments bring extensive growth prospects for the textured pea protein market.
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Global Textured Pea Protein Market: Segmentation
By Product Type
By End Use
By Processing Type
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Yellow Pea Protein Market - The demand for yellow pea protein in the beverages industry is expected to increase in the forecast period, owing to rising inclination toward the usage of plant-based ingredients. In 2018, Cargill, Incorporated, invested nearly US$ 75 Mn in leading North American ingredients producer PURIS. The investment is primarily made for yellow pea protein, starch, and protein in the food & beverages industry. Leading companies operating in the plant-based ingredients market such as A&B Ingredients and Roquette Freres are expected to increase their overall production of yellow pea protein, and are aware of its demand in the beverages industry. The global beverages industry is rigorously growing historically and is anticipated to touch the mark of nearly US$ 1.9 Trn by 2020. The remarkable growth backed with the trend of organic ingredients in the beverage industry is expected to boost the yellow pea protein market growth to a greater extent.
Texturized Vegetable Protein Market - The latest market report published by Transparency Market Research on the texturized vegetable protein market includes global industry analysis and opportunity assessment for 2019-2029. Revenue generated from the global texturized vegetable protein market is estimated to be valued at ~US$ 1.1 Bn in 2019, which is projected to grow at a CAGR of ~6%, to reach US$ 2 Bn by 2029. Among consumers, there is an increase in health consciousness, consumption of guilt-free food, and orientation toward environment protection. Vegan foods and flexitarian diets have gained considerable traction in the market. Consumers are increasingly opting for plant-based products, such as texturized vegetable protein, seitan, and others. Texturized vegetable protein satiate consumer demand for gluten-free, vegan, and high-protein food products.
Pea Protein Market - Changing lifestyle of the consumers is the key factor driving the demand for the global pea protein market. Adoption of a healthier lifestyle due to the increasing concern for health and wellness among the consumers across the world is pushing forward the demand for the global pea protein market. In addition, the increasing concern towards lactose intolerance levels is also driving the demand for the global pea protein market. Expansion of the nutraceuticals industry and the rising demand for gluten free products are also driving the global pea protein market. In addition, the rising consumption of meat substitutes, rising concern towards lactose intolerance levels and the optimistic outlook on the sports nutrition market are some of the major drivers for the global pea protein market.
Pea Protein Nuggets Market - Proteins are added in many food products as they provide a wide range of benefits such as they help with aging and muscle loss, repair the cells of the body, aid in recovering and also in curbing the appetite and others. Nowadays, Pea proteins are gaining popularity and the pea protein nuggets market is observing growth as they add nutrients to the products and help to keep the gluten free items together. Pea protein nuggets are sustainably produced from conventional, non-genetically modified yellow peas that have 70% of protein content and offer functional benefits. Pea protein nuggets is one such product of pea protein which is high in protein content and also incorporate high nut, grain and seed content. They are available in different shapes and sizes.
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