Global pea protein market will reach 959 million US$ by the end of 2025

Publisher: QYResearch

Published Date: 2019/7/29

In the past few years, the demand for pea protein isolates has increased due to the growing demand for meat protein substitutes and rising concerns regarding lactose intolerance among adults. The market is also being driven by the increasing demand for gluten-free products. Rising awareness regarding nutrition enrichment has also increased the importance of dietary supplements, which is likely to fuel market growth. 

In addition, the growing awareness about protein consumption amongst vegetarians is also resulting soaring demand for pea protein isolates. Moreover, changing lifestyle is one of the key factors that drive the demand for global pea protein isolates. Growing adoption of a healthier lifestyle choices due to the rising concern for health and wellness among people across the globe is augmenting the demand for the pea protein isolate over the forecast period. 

However, lack of awareness among consumer and high cost of pea proteins are the factors restraining the growth of the market in the coming years. 

In June 2019, La Madeleine (France), Roquette, one of the key provider in innovative plant-based pharmaceutical ingredients, launched its new product called wheat-free nutraceutical product. The product is aimed to cater to the gluten-free demand. New product development strategy is adopted by the companies to attract consumers and earn a higher revenues. 

According to the report, the global pea protein market is estimated to touch a valuation of US$959 mn by 2025 from US$437 mn in 2018. The market is expected to register a CAGR of 12.04% throughout the forecast period. 

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