Robotic Process Automation Is Estimated To Witness High Growth Owing To Increased Efficiency

Pea Protein Market 

 Market Overview:

Pea protein is extracted from yellow peas through a process of fractionation. It is a high quality plant-based protein alternative to whey, soy and casein. Pea protein is gaining popularity as an ingredient in nutritional supplements, meat alternatives and baked goods due to its neutral taste and high protein content. It helps fulfill nutritional requirements of vegan and flexitarian consumers.

Market Dynamics:
The growth of the pea protein market is majorly driven by rising demand for plant-based and vegan protein alternatives. According to GlobalData, US retail sales of plant-based foods grew 27% to reach US$ 7 billion in the last two years owing to increased health consciousness among consumers. Pea protein acts as a versatile substitute for animal protein and helps formulate products suitable for lactose-intolerant and gluten-free consumers. The other driver is increased awareness regarding the environmental benefits of pea protein compared to other plant and animal proteins. Pea farming requires less irrigation and does not contribute to greenhouse gas emissions, helping reduce carbon footprint of protein production.

SWOT Analysis

Strength: Pea protein is a natural and sustainable plant-based alternative to meat and dairy proteins. It has a neutral taste and blends well into various food products. Pea protein has a balanced amino acid profile and is a complete protein that provides all essential amino acids.
Weakness: Pea protein has lower digestibility than other plant proteins which can cause gastric issues for some people. It also has a greater possibility of allergies compared to other plant proteins. The production of pea protein requires extensive processing in order to isolate and refine it.
Opportunity: The growing demand for plant-based, non-GMO, and sustainably produced foods is driving the adoption of pea protein as a meat and dairy alternative. Pea protein's versatility allows it to be incorporated into various food products such as meat substitutes, protein bars, shakes, and supplements.
Threats: Increasing cultivation of soybeans and popularity of soy protein could reduce the demand for pea protein. Volatility in pea prices due to changes in crop yields pose risks for pea protein producers and manufacturers.

Key Takeaways:
The Global Pea Protein Market Demand is expected to witness high growth, exhibiting CAGR of 9.1% over the forecast period, due to increasing consumer preference for plant-based protein options. The growing health and wellness trend is driving consumers towards more sustainable and natural product choices.

Regional analysis: North America dominates the pea protein market currently due to strong demand for vegan and vegetarian diets in the region. Europe is also a major consumer of pea protein owing to shifts towards more sustainable food production and consumption. Asia Pacific is expected to be the fastest growing market for pea protein during the forecast period with China and India emerging as lucrative markets.

Key players operating in the pea protein market include Burcon Nutrascience, Cosucra Groupe Warcoing, Nutri Pea Limited, Sotexpro, Roquette Freres, Glanbia Plc., Fenchem Biotek Ltd., Prinova Group LLC, and Yantai Shuangta Food Co. These companies are focused on new product development and capacity expansion activities to cater to the rising global demand for pea protein.

Read More:

https://www.marketwebjournal.com/pea-protein-market-growth-market-size-share-analysis/

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