Global Pea Protein Market: Key Highlights
Global Pea Protein Market: Key Market Dynamics
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Global Pea Protein Market: Regional Overview
North America is expected to dominate pea proteinmarket during the forecasted period owing to the increasing demand for gluten-free items in the U.S, robust growth of the sports nutrients industry, and rising concern regarding cardiovascular diseases caused due to consumption of red meat. According to the Center for Disease Control and Prevention (CDC), in 2018 the numbers of adults diagnosed with heart disease were 30.3 million.
Europe is anticipated to account the largest share in pea protein market during the forecasted period. This is attributed to factors such as large-scale production and consumption of plant-based products, as well as high raw material costs. Key players in the region such as Cosucra Group (Belgium), Emsland Group (Germany), and Rouquette Freres (France), are focusing on making provision to fulfill the rising demand for pea protein. Moreover, the rising awareness regarding the benefits of pea protein among consumers has led to increased inclination of manufacturers to comply with standards introduced by the EU regarding non-GMO products, thereby encouraging the growth of the pea protein market in Europe.
Global Pea Protein Market: Key Players Overview
Burconis one of the global technological leaders in the development of plant-based proteins. Burcon offers its products through Peazazz, Canola Protein, and Clarisoy brand. The company has issued 280 patents and have applied for more than 260 additional patent applications. In May 2019, Burcon has entered into a joint venture partnership with an investor group to build a new pea-protein and canola-protein commercial production facility in Western Canada.
Roquette Frères is one of the global provider of plant-based ingredients to pharmaceutical excipients. The company operates through business segment including Bioparma, pharma & nutrsceuticals, cosmetics, food & nutrition, animal nutrition. In Jan 2020, Roquette Frères announced multiyear pea protein supply agreement with Beyond Meat (U.S) intending to increase its production capacity of pea protein.
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