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APAC Pea Protein Market revenue to cross $95 Mn by 2026
Published Date: 2021-02-19
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APAC Pea Protein Market size is predicted to reach USD 95 million by 2026, according to a latest forecast report by Graphical Research.
Increase in the awareness about protein-based diets among athletes and millennials has boosted the demand for plant-based proteins as meat alternatives, nutraceutical, and sport supplements. Further, increasing consumer spending on health and wellbeing and shift to vegan diets should stimulate the APAC pea protein market growth.
The pea protein isolate segment is projected to register growth of over 19% from 2020 to 2026. Protein isolates contain higher proportion of protein and less sugar and fat than protein concentrate. Pea protein isolates are produced by wet processing methods. Pea protein isolates are created for animal nutrition by precipitating proteins up to isoelectric point at high temperature. Pea protein isolates have a protein range of nearly 85% to 90%.
Protein isolates are consumed for meeting high protein content requirement. The demand for protein isolates has increased among athletes to meet their high protein requirement. Further, increasing diet and nutrition products in India, China, and other emerging countries should boost the pea protein isolates segment. The India's nutraceutical market value is predicted to reach approximately USD 9 billion by the end of 2022 from around USD 3.5 billion in 2017. This increase in the consumption of nutraceuticals should influence demand for plant-based products.
Browse detailed statistical insights from the report, “Asia Pacific Pea Protein Market Size by Application (Meat Substitutes, Nutraceuticals, Sports Supplements), By Product (Isolate, Concentrate, Textured), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2026” along with the table of contents (ToC) @
Sports supplement segment is estimated to witness 15.5% CAGR through 2026. Proteins are majorly used by athletes for building muscle tissues and as a fuel source. Protein supplements are consumed by athletes who are unable to receive required protein through food alone. Sports supplement use has increased in Asia Pacific, pertaining to rising number of professional athletes and growing focus of athletes and consumers on nutrition. This rise has triggered the consumption of protein based foods. Moreover, consumer focus on health and wellness has also increased in urban parts of Asia Pacific, owing to changing lifestyle and growing consumer awareness about importance of nutrition. Such rise should also facilitate consumption of plant based proteins. Increasing population and rising per capita income in countries like China, India, and Southeast countries should augment the pea protein market growth.
Asia Pacific dietary supplements industry has experienced significant growth in recent years, pertaining to improving economic conditions in developing economies. Consumers are willing to spend more on supplements that can help in overall health wellbeing. Consumers in urban parts of Asia Pacific are looking for meat replacement food source. Many companies have introduced plant based meat replacement products derived from soy, wheat, and pea. On-the-go and high paced lifestyle among urban consumers has also proliferated the demand for protein products.
Significant rise of sports users in the region has boosted the demand for protein powders and shakes. Such trend should propel the demand for plant-based proteins such as pea and soy protein. Moreover, shift of consumers nonvegetarian diets to vegetarian diets has increased awareness among consumers regarding plant-based protein products, which should boost the market growth.
Major players in the market include Titan Biotech, Ingredion Incorporated, NOW Health Group, Inc., Axiom Foods Inc., RAJVI ENTERPRISE, A&B Ingredients, Yantai Oriental Protein Tech, and Shandong Jianyan Group.
The APAC pea protein market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD from 2015 to 2026, for the following segments:
Asia Pacific Market, By Product
- Pea Protein Isolate
- Pea Protein Concentrate
- Textured Pea Protein
Asia Pacific Market, By Application
- Meat Substitutes
- Sports Supplement
The above information has been provided for the following countries:
- Asia Pacific
- South Korea