The food industry is continuously searching for healthier and cheaper protein ingredients that can be replaced by animal-based and gluten-based proteins. Pea protein is beneficial due to its low allergenicity, availability, and high nutritional value. The GlobalPea Protein Ingredients Marketis witnessing a major rise in its revenue from US$ 2.35 Bn in 2021 to US$ 6.78 Bn by 2030. The market is recording a CAGR of 12.5% during the forecast period. In terms of volume, the market is recording a CAGR of 6.7% over the forecast period 2022-2030.
Pea Protein Ingredients Market is quickly reaching its pre-COVID levels and a healthy growth rate is expected over the forecast period driven by the V-shaped recovery in most of the developing nations.
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Key strategies of companies operating in Pea Protein Ingredients Market Industry are identified as showcasing their contactless manufacturing and delivery methods, highlighting USP statements, focus on product packaging, and increased the presence of products on online platforms.
The food industry is set to experience a few changes in 2021 due to the increased consciousness of consumers in selecting food. This inclination towards sustainable, regenerative, plant-based food and demand for foods and beverages with immunity-boosting ingredients is driving the demand for these products and their constituents. Do It Yourself (DIY) trend has seen huge momentum during Corona times and is expected to continue in 2021.
Considering the rapidly changing market landscape, companies are changing their perspectives on expanding beyond traditional markets. In addition to focusing on widening applications, introducing new product portfolios, most food and beverage companies are planning to capture domestic and international markets.
Fast pace recovery of developing economies leading to increased disposable income will support the Pea Protein Ingredients Market demand between 2021 and 2027.
Lockdowns across the globe in 2020 and continuing restrictions in 2021 disrupted the supply chain posing challenges for manufactures in the Pea Protein Ingredients Market. Intense competition, pricing issues, and shifting consumer preferences will continue to put pressure on vendors profit margins.
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Report Description
The report 2021 Pea Protein Ingredients Market Size, Share, COVID Impact Analysis and Forecast to 2027 presents growth projections in the Pea Protein Ingredients Market between 2021 and 2027 for companies operating across different types, applications, and end-user verticals.
Short-term and long-term trends affecting the market landscape are included in the research. Further, market drivers, restraints, and potential opportunities are also provided in the report.
The Pea Protein Ingredients report computes the 2020 market value in revenue terms based on the average Pea Protein Ingredients prices and sales/revenue models of key companies operating in the Pea Protein Ingredients Market Industry. The study forecasts the market size to 2027 for different types of Pea Protein Ingredients and provides respective market share and growth rates.
The study discusses technological innovations and the potential shift in demand among various products in the Pea Protein Ingredients Market, over the forecast period. The leading five companies in the Pea Protein Ingredients Market Industry together with their products, key strategies, and comparisons are provided.
The Pea Protein Ingredients Market size, share, and outlook across different types and applications are provided at geographic levels of North America, Asia Pacific, Europe, Middle East Africa, South and Central America. Further, country-level Pea Protein Ingredients Market value is also provided.
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All recent developments in Pea Protein Ingredients Market Industry including mergers, acquisitions, contract awards, licenses, product launches, and expansion plans are included in the report.
- Base Year 2020; Forecast period: 2021 2027
- Publication frequency Every six months
- Research Methodology Data triangulation with top-down and Bottom-up approach are used for market size
Scope of the Report
- Global Pea Protein Ingredients Market Industry size, 2020-2027
- Market trends, drivers, restraints, and opportunities
- Porters Five forces analysis
- Types of Pea Protein Ingredients, 2020-2027
- Pea Protein Ingredients applications and end-user verticals market size, 2020-2027
- Pea Protein Ingredients Market size across countries, 2020-2027
- 5 leading companies in the industry overview, key strategies, financials, and products
- Latest market news and developments
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