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Europe Pea Proteins Market to be worth more than $70 Mn by 2026
Published Date: 2020-12-04
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According to the Graphical Research new growth forecast report titled “Europe Pea Proteins Market Size By Product (Isolate, Concentrate, Textured), By Application (Meat Substitutes, Nutraceuticals, Sports Supplements)”, Estimated to Exceed USD 70 Million by 2026
Rising health benefits associated with pea protein and high demand for plant-based dietary supplements, nutritious animal feed and sports supplements among consumers across the world are pushing forward the demand for the market. Owing to this, it contains high-quality proteins, iron, arginine, and branched amnio acids which offer repairing and building of muscle, improves heart health, and boosts the immunity system. Furthermore, it supports easy digestion and quickly absorbs fibers in the body, this healthier lifestyle adoption is likely to drive the Europe pea proteins market.
The European market is competitive with the presence of various key players such as Cargill Incorporated, Kerry Inc, Dupont, and some other major players. These are focusing on product innovation and advancement according to consumer preference. Also, the rising demand for gluten-free, non-allergen, and lactose-free plant protein ingredients in food and beverages will foster the market in Europe.
The post-COVID-19 scenario is one of the responsible factors for rising in the pea protein market. after the pandemic, rising health and wellness awareness, concern about the consumption of plant based protein and its derivatives is likely to boost the market in the future.
Base on the application, the market is segmented into meat substitutes, nutraceuticals, and sports supplements. Europe pea proteins market from nutraceuticals segment will witness a growth of 9.5% over the forecast period, in terms of revenue. Owing to, development in the nutraceuticals industry, product innovation & expansion, and the use of pea protein in nutraceutical products such as prebiotics, probiotics, dietary fibers, and antioxidants. Nutraceuticals assists in treating and preventing diseases and promotes a healthy balance of life. In addition, the rising consumption of gluten-free products trend is one of the factors which boosts the market demand.
Considering the sports supplement from the application segment is expected to grow with a CAGR of 10% during the forecast period, 2019-2026. Pea protein predominantly used in sports supplements and nutritional beverages as it contains antioxidant properties. Also, it is a rich source of amino acids, glutamine, arginine, and lysine which promotes muscle development. Pea protein-rich drinks are very popular among fitness enthusiast and sportspersons as it improves performance and overall body growth. Additionally, pea protein powder used for the preparation of shakes, smoothies, and energy drinks, which boost stamina and enhance performance. This may fuel the demand for the Europe pea proteins market.