Global Pea Fiber Market Overview:
The global pea fiber market is poised to expand at a CAGR of nearly 8% between 2020 and 2030, attributed to rising demand for meat substitute products in established markets such as North America and Europe. Additionally, a rise in the gluten-free cohort has augmented demand of dietary fiber products in the market. Pea fiber in the pet food industry, notably pea fiber in dog food has been emerging as a significant pea fiber product. The COVID-19 pandemic is poised to have a negligible impact as key manufacturers have adequate inventory at their disposal, thus making it easier to cater to market demand.
Based on the previous projections, market value for the pea fiber market was estimated to reach around US$ 18 Mn in 2020. However, with the COVID-19 outbreak, the year-on-year market growth is projected to plunge to around 5% in 2020. Q1 is expected to bear a significant brunt of the pandemic. The market is expected to become more stable by the end of the third quarter. Joint efforts made by players to expand their production capacity will benefit market growth in the long run.
Global Pea Fiber Market Insights by Nature
Organic pea fiber expected to showcase an absolute $ opportunity of nearly US $2.4 Mn owing to the rising preference of organic labels and awareness of pea fiber benefits in established markets. While the pea fiber market is dominated by the conventional segment, recent trends of organic products have been influencing the market of organic pea fibers. The bakery product segment is emerging as a new arena for pea fiber, owing to the rising demand for organic grains and breads from health-conscious customers.
Global Pea Fiber Market Insights by Region
The North American pea fiber market accounts for nearly 1/3rd of the consumption owing to a burgeoning transformation of dietary habits. A large number of pea fiber producers are concentrated in the North American market owing to the growth opportunity lying in pet food and vegan substitute products. In Europe, the United Kingdom accounts for a substantial amount of export of pea fiber. The market holds an absolute $ opportunity of nearly US $5 Mn.
The East Asian market is likely to witness higher than expected growth due to the presence of multiple manufacturers and suppliers at the local level. The availability of raw material for manufacture of pea fiber powder in high quantities has highly benefitted local players. The pea fiber manufactured in East Asia has been exported to multiple European and North American manufacturing facilities. The trend of organic restaurants has acquired increasing popularity in China.
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Pea Fiber Market Manufacturers’ Insights
The pea fiber market is partially fragmented with top players accounting for nearly 60% of the market. Established players in the market are focusing on the acquisition of smaller companies. Moreover, the top players of the pea fiber market are focusing on strengthening their position in the market by expanding their processing capacities. Since 2018, COSUCRA has invested nearly US $103 Mn. in its pea processing plant and is focusing on raising revenue by nearly 50% by 2024. With an investment of nearly US $65 Mn in 2019, the company is opening its second facility in Europe. Similarly in 2019, Cargill Inc., invested nearly US $75 Mn. in its joint venture with PURIS to double the production capacity of the plant.
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Impact of COVID-19, on Pea Fiber market
The market of pea fiber is expected to be moderate owing to a minimal dip in sales during 2020. North America is a hub for pea fiber production with some significant producers in the country. Amid the lock-down conditions, production has stopped, affecting the market growth during the first two quarters in 2020.
Under the probabilistic scenario, the market will revive after the third quarter and is expected to grow at a moderate pace till the end of the fourth quarter. Under a pessimistic scenario the market is expected to dip during all the four quarters of 2020, owing to the pandemic’s impact on the production capacity of local players.
“East Asia and South Asia are anticipated to witness significant growth during the forecast period. Factors such as new product launches, geographical expansion by companies, and increasing demand for specialized products among consumers are expected to drive the demand for pea fiber across various end use industries.”
Global Pea Fibers Market: Scope of the Report
The global pea fibers market report by Fact.MR offers a 10-year forecast from 2020 to 2030. The report elaborates on the key drivers, restraints, opportunities and threats to the expansion of the global pea fibers market. A detailed segmental analysis, based on product type, source, application, grade and regions has been provided in the report.
Regional analysis in terms of supply chain analysis, business execution and market value analysis provides an in-depth perspective about the future scope of the global pea fibers market. In addition, a separate section on market structure has also been provided. The section provides a detailed analysis of key market players and the strategies for expansion in the pea fibers market.
Global Pea Fiber Market – Scope of the Report
Pea fiber market is anticipated to witness a notable upsurge during the forecast period 2020 to 2030, conferring to a new Fact.MR study. The study promotes crucial trends that are presently determining the growth of pea fiber market. This newly published and perceptive report sheds light on vital dynamics, which are likely to convert the future of pea fiber market, in turn generating worthwhile opportunities for key companies as well as evolving players who are interested in the manufacturing of pea fiber market.
Pea fiber market study is a detailed market intellect on key revenue progression factors, challenges, industry trends, and opportunities, which will eventually influence the growth of pea fiber market. The report primarily conveys a summary of the pea fiber market, considering present and upcoming pea fiber market industry scenarios, to reveal striking sides relating to the acceptance of pea fiber market across prominent regional markets.
A detailed assessment on few of pea fiber market raw material suppliers accessible in the report allows the report readers to obtain detailed findings that have resulted from pea fiber market supply chain analysis, business execution, and value chain analysis across the regional markets incorporated in the report. A list of prominent companies functioning in pea fiber market provided in the report enhances reliability of this ample research study.
Pea fiber market: Report Summary
Study offers a comprehensive overview on diverse features that are inducing demand, revenue generation and sales in pea fiber market across the globe.
A comprehensive estimate on pea fiber market has also been made accessible by the experts, who have considered the market estimates on the basis of a likely scenario, an optimistic scenario, and a conservative scenario regarding sales of pea fiber market during the forecast period. Analysis and estimation of price point comparison by region and by product with the global average price has been included in this study.
Pea fiber market: Segmentation
FactMR’s study has done the segmentation of pea fiber market on the basis of type, source, application, and grade across 6 regions.
Pea fiber market: Analysis on Market Size Evaluation
Predictions of pea fiber market, encompassing current as well as forthcoming projected values estimate and analysis on region-wise demand trends and price index have been assimilated in the report.
Market estimates at the regional and global scale for pea fiber market are available in terms of “US$ Mn.” A Y-o-Y growth contrast on prominent pea fiber market segments, along with the market attractiveness valuation computes understandings brought in the report. Metrics mentioned above are also followed based on pea fiber market applications where pea fiber market witness a steady demand.
Pea fiber market: Scrutinized Assessment on Regional Segments
Weighted sections have been elaborated in the report on pea fiber market, which delivers projection on the regional markets. These chapters brighten the regional macros (political economic, and business environment outlook), which are expected to have a significant impact on the growth of pea fiber market during period of forecast.
Country-specific valuation on demand for pea fiber market has been offered for each regional market, along with the market scope estimate and forecast, price index, price point assessment, and impact analysis of dynamics of prominent regions and countries. For all regional markets Y-o-Y growth estimates have also been incorporated in the report.
Pea fiber market: In-depth Analysis on Competitive Landscape
The report ends with a section on the competition scenario of pea fiber market, along with the profiles of major companies contributing to the market expansion. Essential and up-to-date data as well as information correlated to the market performers, who principally engage in the production and supply of pea fiber market, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits the report readers to plan preemptive steps to advance their businesses.
Company profiles have been shared with report, which exerts essentials such as product portfolio, along with an all-inclusive SWOT analysis on each player recognized along with the company policies identification and analysis. The company presence mapped and presented through the matrix for all the prominent players of the market functioning in pea fiber market offers readers with actionable intellect, which helps in thoughtfully presenting the market status, and making decisive predictions on the competition levels in pea fiber market. Major companies operating in pea fiber market are, Roquette Freres SA, Emsland Group, Puris Proteins, LLC, Cosucra, Quadra Chemicals, P&H milling Group, Avena Foods, Limited and several others.
Impact of Covid-19 on Pea fiber market
The report includes a scenario based assessment of impact of Covid-19 across key regions for all four quarters of 2020. The report discusses the market forecast under optimistic, probabilistic and pessimistic scenario. Under the three scenarios, the demand loss and recovery has been illustrated and described through L-shaped and U-shaped recovery curves. Alongside, the Covid-19 impact has been benchmarked with previous crisis including sub-prime crisis, Eurozone crisis and SARS pandemic.
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