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Pea Protein Isolate Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2023 – 2032
- Report ID: GMI3831
Pea Protein Isolate Market size is slated to record tremendous traction from 2023 to 2032, owing to the rising importance of organic ingredients across the food and beverage sector.
Pea protein isolate, also called pea protein powder, is ideally consumed by people with several food allergies, intolerances, and sensitivity on account of its brilliant nutritional benefits, high solubility, and excellent emulsification. It helps improve the muscle thickness while enhancing exercise performance and balancing the blood sugar levels. The growing trend of veganism along with the escalating consumer concerns toward lactose intolerance are other factors influencing the pea protein isolate market demand. As per the National Institute of Diabetes and Digestive and Kidney Diseases, 68% million people around the world suffer from lactose malabsorption.
The significantly rising per capita incomes along with the rollout of favorable government initiatives directed at health promotion will accelerate the preference for pea protein isolates. The increasing levels of health consciousness among consumers has spurred the popularity of fitness centers and health clubs, further bolstering the demand for sports nutrition products. The intensifying burden of various health disorders along with the rapidly expanding youth and middle-aged population involved in sports activities will add to the market growth.
The meat alternatives segment will see massive growth through 2032, attributed to the shifting consumer interest towards meat substitutes on account of the rising health concerns related to cholesterol, obesity, high blood pressure, and diabetes. Pea protein isolate comprises around 90% protein. It is hence expansively employed as a meat alternative to offer similar functional & nutritional attributes and flavor when compared to animal meat.
Asia Pacific pea protein isolate industry will gain significant impetus during 2023 to 2032 , driven by the rising demand for meat alternatives in India, China, and Japan. The rising implications of health issues among the geriatric individuals led by the increased consumption of meat products has amplified the transition towards plant-based meat substitutes. This trend is likely to favor the uptake of pea protein isolate in the region.
Major players involved in pea protein isolate market include Axiom Foods, NOW Foods, Glanbia, Plc., Roquette Freres, and Farbest-Tallman Foods Corporation. These firms are focused on strategic practices, such as collaborations, acquisitions, and new product launches to widen their customer base and global reach. For instance, in October 2022, Roquette introduced four new grades of organic pea protein isolates in the EU and US markets in a bid to address the surging consumer demand.
The COVID-19 pandemic acted as a significant booster for the growth of pea protein isolate market due to the increasing consumer inclination towards health and well-being. The rapidly proliferating sports nutrition sector is also influencing the product adoption in protein shakes and bars to provide ease of digestion, low levels of saturated fat, and the ability to offer balanced and nutrient rich diets. However, the ongoing Russia-Ukraine war caused significant challenges for the producers and distributors of pea protein isolate due to supply chain challenges and hampered operations. The rising inflation rate is also likely to pose a challenge for the industry growth.
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