The textured pea protein market is set to grow thanks to the rise of vegan dietary practices
This article is written and sponsored by Transparency Market Research.
The rise of veganism is expected to fuel the global market textured pea protein market in the years to come. In fact, the market is expected to grow at a CAGR of 7.6% through 2030 and reach $800 million by the end of the forecast period, according to Transparency Market Research.
End-use pea protein products are used in food processing, nutraceuticalsinfant nutrition, personal care, animal nutrition, sports nutrition and cosmetics.
Europe leads in market share
In the coming years, Europe is expected to account for the largest market share, closely followed by North America. The main drivers for the expansion are large-scale production and low raw material costs. Additionally, growing consumer demand for all natural and organic foods that align with healthier lifestyles and avoid chemical additives appears to be driving demand. The improved texture should also stimulate growth.
Concerns about red meat and the associated risk of cardiovascular disorders are also fueling demand for vegan and organic products.
Manufacturers, product launches and mergers and acquisitions
Some of the major players in the global textured pea protein market are Rouquette Freres, Puris Foods, Emsland Group, The Green Labs LLC, Glanbia PLC, The Scoular Company, SotexPro, Shandong Jianyuan Foods Co., Ltd., Kerry Inc., DuPont , Ingredion, Fenchem Inc., A & B Ingredients, Axiom Foods Inc., Burcon Nutrascience Corp Cosucra Groupe Warcoing, AGT Foods, Yan Tai Shuang Ta Food Co. Ltd. and Batory Foods. Market players are adopting various business growth strategies, such as strategic collaborations, partnerships, and mergers and acquisitions, to gain competitive advantage.
For example, Healy Group and Nova Farina, a UK-based pea ingredient supplier, collaborated in December 2019 to launch PrimaTex, a textured pea protein for plant-based applications. Other developments include:
- Vitessence Pulse 1803 pea protein isolate was launched in September 2019 by Ingredion Inc.
- A new vegetable protein called NUTRALYS TP-C was launched by Rouquette Frères in December 2019, offering various texture options and a new taste.
The manufacturers are focused on providing their customers with non-GMO, high-quality, allergen-free, additive-free and preservative-free products. Additionally, they are also growing by launching new products through e-commerce and investing heavily in research and development.
For more information, download a PDF brochure: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=78120