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Ubiquitous Influence of Veganism among Considerable Chunk of Populace Inviting Great Growth Prospects for Textured Pea Protein Market: TMR

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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.

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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

  • The dry segment, in terms of processing type, is holding 68.1 percent market share currently
  • On the basis of end-use, the food processing segment holds a market share of 50 percent, which is the largest chunk as compared to other end-users
  • Sports nutrition is expected to acquire a share of 23.4 percent in the terms of end-use
  • The yellow peas segment, in the product type category, currently holds a share of 68.1 percent currently
  • North America acquires a vital share of ~36.9 percent in 2020 based on geographical dimensions
  • Europe accounts for a 25 percent market share

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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 popularity of health-conscious trends has gained sizeable popularity over the years and is expected to influence the growth of the textured pea protein market greatly
  • Ecommerce platforms are also playing an important role in harnessing growth for the textured pea protein market
  • Meat-free items are gaining considerable momentum across a large chunk and are extrapolated to have a positive effect on the growth of the textured pea protein market
  • Growing investments and mergers and acquisitions influencing growth rate of textured pea protein market

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

  • Yellow Peas
  • Green Peas

By Nature

  • Organic
  • Conventional

By End Use

  • Food Processing
    • Meat Alternatives
    • Bakery Products
    • Confectionery
    • Snacks & Cereals
    • Meat-based Products
    • Functional Beverages
    • Others
  • Animal Feed
    • Livestock
    • Cattle
    • Swine
    • Poultry
    • Pet Food
    • Aquafeed
  • Nutraceuticals
  • Sports Nutrition
  • Infant Nutrition
  • Cosmetic & Personal Care

By Processing Type

  • Dry Processing
  • Wet Processing

By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Middle East and Africa
  • Oceania

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Explore Transparency Market Research's award-winning coverage of the global Food & Beverages Industry,

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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About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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