A report anticipates that the organic pea protein market will observe robust growth in the revenue through 2027, at an estimated CAGR of 7.2%. Pea protein is an extract from split peas, increasingly being added to a variety of foods like energy bars, protein shakes and burgers. Pea protein is becoming popular for gym goers as it is gluten and dairy free, and has beneficial effects for the heart and kidneys.
The report, Global Market Study on Organic Pea Protein, published by Persistence Market Research, discusses the market for pea protein globally, and discusses its use in functional beverages, confectionery and bakery, meat substitutes, supplements, cereals & snacks, and others. Dietary supplements are further segmented into protein powder, sports nutrition, and others. It states that the rise of people choosing meat and dairy-free diets is driving the market for plant proteins.
The Growing ‘Healthy’ & “Natural & Organic’ Trend Is Supplementing Organic Pea Protein Market Growth
People are more conscious of what they consume. The popularity of organic pea proteins is increasing with the millennial population. Increasing incidences of health issues such as obesity, diabetes, and blood pressure are prompting consumers to maintain a healthy lifestyle. They are thus more inclined towards the consumption of dietary supplements made from organic pea protein and functional foods that contain organic pea proteins.
Those who are more concerned about their family’s health prefer food free from additives, hormones, and antibiotics, and hence, opt for natural, as well as organic products. Organic pea protein gains more popularity in food manufacturing companies as it is a clean label product. Clean label foods are those with an easily understandable ingredients list. They are presumed to be healthy, natural, and nutritious. This trend increases the demand for organic pea protein in the global market.
Competition Landscape: Global Organic Pea Protein Market
Key players in the organic pea protein market include Maxsun Industries, Inc, Farbest Brands, Puris, Bioway (Xi’an) Organic Ingredients Co. Ltd., Greenway Organics (Tianjin) Co., Ltd, The Scoular Company, YT (XI’AN) Biochem Co., Ltd., A&B Ingredients, Axiom Foods, Inc., Vestkorn, The Green Labs LLC, and Phyto-Therapy Ptv. Ltd.
The competition landscape section includes highlights on key strategies adopted by industry players such as mergers & acquisitions, expansions & investments, new product launches, partnerships, collaborations, and joint ventures.
Key Insights: Global Organic Pea Protein Market
Over the past few years, there has been an increasing shift towards vegetarianism, and veganism around the world. This trend is expected to drive the demand for organic pea protein products. The development of vegan food market and demand for high protein ingredients in bodybuilding and sport industries, drives the organic pea protein market. In addition, healthy plant-based foods are preferred by private label brands which is an important factor driving organic pea protein market growth.