Increased demand for Plant Based Protein likely to augment the demand for Insoluble pea protein market.
In recent time as awareness about various diseases related to meat has increased its demand has fallen. Vegan culture has boosted the demand for plant-based protein as a substitute for meat protein. Sudden trends towards health consciousness and consumption of plant-based nutrition has propelled the research and development in plant-based protein industry. Insoluble pea protein is also being developed as plant-based protein owing to its high protein content and environment friendliness. Insoluble pea protein is derived from the yellow pea (Pisum sativum) which represents a sustainable protein source and as alternative to the consumption of meat for the coming years
Insoluble Pea Protein is the next best alternative used in food and beverages, sports nutrition industry.
Insoluble pea protein is widely used in food various bakery products like biscuits, cookie, cake, pastry and bread etc owing to its excellent digestibility, balanced amino acids profile (Arginine & BCAA boost. Furthermore, insoluble pea protein also has various properties like High PDCAAS, complementary to wheat & other cereals proteins. Due to which it is also used for making cereal bars and breakfast cereals. Due to which its demand likely to increase over the industrial forecast period. With all these precisely affecting the insoluble pea protein demand it is most likely that it will see a drastic upsurge in near future.
Rising in demand for environment friendly alternative for meat and soy protein, increased awareness about harmful diseases due to meat consumption has driven the plant-based protein market. Furthermore, rise in vegan population, shortage of protein-based diet, growing awareness about plant nutrition has boosted the market for plant-based protein like insoluble pea protein.
Segmentation: Insoluble pea Protein Market
Based on types insoluble pea protein market is classified into different parts like and application and end use Industry.
Based on application
- Sweet biscuit & cookie
- Cereal bar
- Filling, custard, décor
- Cake & pastry
- Breakfast cereal
Based on end use industry
- Food and Beverages
- Sports nutrition
Asia and Europe likely to augment the demand for Insoluble pea protein market.
Emerging economies china and India along with developed economies like Europe are likely to augment the demand for insoluble pea protein due to the rise in bakery industry. Rising awareness among food & beverages manufacturer, rising urbanization, one of the factors for positive growth of insoluble pea protein market. Furthermore, rising awareness about plant-based diet, shifting trends towards the sports nutrition are one of the common factors contributing towards overall market growth. The demand for insoluble protein is anticipated to grow in region like North America. Rise in vegan culture, increased awareness about plant-based protein, growing concern about animal welfare are one of the common factors directing the market towards positive growth.
COVID-19 will have positive impact on demand of Insoluble Pea Protein due to decrease in Meat-based protein demand.
Government imposed lockdown has stopped further manufacturing pea protein extract or other derived product. With all these precisely affecting the demand it is most likely that demand for pea protein and its derivable likely to decrease for shorter amount of time. Supply chain for these products has moreover slightly affected as there is no demand for now. COVID-19 has changed the consumer perception towards their health which is likely to boost the demand for plant-based protein nutrition for upcoming industrial forecast period.
Mergers and acquisitions, production capacity expansion is the new trend for key players due to increased demand for Insoluble Pea Protein.
Rise in demand for plant-based protein nutrition has boosted forced the key players to expand their production capacity. For instance, Cosucra Groupe Warcoing has inaugurated a new spray dryer and production line at its base in western Belgium, bringing to a close a €35 million industrial expansion project. This is going to increase the production capacity of the company by two times. Furthermore, market is also driven by merger and acquisitions. For instance, The Scoular Co. has acquired Farmers Grain Company (known locally as Kontny Grain) of Julesburg, Colo. Financial terms of the transaction were not disclosed. Roquette freres another key player in the market signs agreement to acquire Sethness Products Company. Other key players in the market are Yantai Oriental Protein Tech, Sotexpro, Fenchem Yantai Oriental Protein, Prinova Group LLC, and Glanbia PLC, Burcon NutraScience Corporation and others.
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