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The Global Pea Protein Isolate Market size is estimated to reach $1,159 million by 2027. Furthermore, it is poised to grow at a CAGR of 8.9% over the forecast period of 2022-2027. Pea Protein isolates are processed, as split yellow peas typically grow in North America and Europe, the process would remove the outer shell, and then it would be milled into flour. After which, other ingredients such as fiber and starch are separated through chemical processes. Ultimately, pea protein would be distilled into a white precipitate, known as protein powder. Hydrolysed protein powder is also used, and is a solution derived from the hydrolysis of protein into components of amino acids and peptides. Pea protein isolates have all the necessary amino acids- or the BCAAs which are extremely useful in bodybuilding as a protein supplement. Furthermore, since it is a plant-based protein it is gluten-free and lactose-free, which allows for greater market penetration. The nutritional profile of pea protein isolates to maintain satiety for a longer period of time along with the presence of BCAA have been identified as the key drivers for the Global Pea Protein Isolate Industry for the projected period of 2022-2027.
Global Pea Protein Isolate Market Segment Analysis- By Application
The global pea protein isolate market based on the application can be further segmented into Nutrition and Health Supplements, Alternate Meat Products, Infant Formulas, Cereals & Snacks, Beverages, and Others. Nutrition and Health Supplements held a dominant market share in the year 2021. It is owing to the heightened awareness pertaining to the availability of plant-based isolates. Pea protein provides up to 21 grams of protein per quarter cup of serving which allows for ready usage for bodybuilders. The number of bodybuilders or those who follow a strict regimen is growing every day. Primarily, it is owing to higher social media traction and the number of influencers being reached to support brand advertising. For example, My Protein, whose product portfolio includes pea protein isolates has adopted a social media influencer/ vlogger Gaurav Taneja with a reach of more than 10 crores to actively publicize my protein products in his daily vlogs and how he attributes/ emphasizes the use of plant-based protein. Moreover, nutrition and health supplements are estimated to be the fastest-growing, with a CAGR of 9.0% over the forecast period of 2022-2027. Plant proteins are spacing at a robust pace owing to new product launches at highly competitive pricing, moreover, weight loss and appetite control are key features that people would look to adopt.
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Global Pea Protein Isolate Market Segment Analysis- By Distribution Channel
The global pea protein isolate market based on distribution channels can be further segmented into Offline Platforms and Online Platforms. Online Platforms held a dominant market share in the year 2021. It is owing to COVID-19 which forced people to stay indoors and use online retail applications to order products online. Additionally, old supermarkets and hypermarkets introduced their e-mobile applications, which allowed the consumers to stick to the public regardless of the pandemic situation. Same-day delivery at no additional costs were some of the distinct and common features. Moreover, the online segment is estimated to be the fastest-growing, with a CAGR of 9.2% over the forecast period of 2022-2027. It is owing to the marketers’ strategy to remove the middlemen from play and offer deep discounts on their own websites or third-party sites. The following strategy allows them to reduce the cost in multitudes. For example, AS-IT-IS Nutrition Pea Protein Isolate is available at a discounted price of INR 1136, at a discount of INR 400 from the listed price of INR 1536 allows providing a push to resistant consumers. Owing to such strategies, the segment would grow at a steadfast pace.
Global Pea Protein Isolate Market Segment Analysis- By Geography
The global pea protein isolate market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of the World. North America held a dominant market share of 36% in the year 2021. It is owing to high tend demand within a country like the U.S., where obesity is a common trend. High tend fatality owing to COVID-19 was thereby observed in the States as they have a lot of comorbidities. Pea Protein has properties that allow for longer satiety thereby solving the problem of rapid meal consumption. Additionally, the US is growing vegan with around 10 million of the population totally or partially vegan and a high proportion of people now opt for vegan brands simply due to their practices of being not cruel and highly sustainable. However, Asia-Pacific is expected to offer lucrative growth opportunities over the forecast period of 2022-2027. It is owing to heightening knowledge of protein-rich diets along with being extremely health conscious.
Global Pea Protein Isolate Market Drivers
The exponential rise in the global concern for managing weight and appetite has readily aided the market growth
The global population has been growing old, regardless, the population remaining under the threshold of 40’s is falling prey to obesity. Pea protein isolate has been known for providing long-lasting satiety, thereby allowing people to control their weights and dietary intakes. Additionally, the population obesity is now forcing people to join gyms and follow diets which can ease the process of looking and feeling fit. For example, per CDC findings before COVID began demonstrates that around 49.1% of the US adults tried to lose weight from when they were interviewed. Further breaking down the statistics, it was found that a higher percentage of women (56.4%) were inclined to lose weight. Furthermore, amongst those who tried to lose weight, the most common methods were exercising (62.9%), eating less food (62.9%), and consuming more & more fruits, vegetables-supplements with higher satiety and fiber ratio (50.4%). Moreover, countries such as India are being highly targeted for promoting such isolates as the obesity index within the country stands at 40.3% as per an independent researcher.
The growing proportion of the population who is lactose intolerant along with better product-market positioning allows for robust growth
The proportion of the population that either has lactose malabsorption or suffers from intolerance towards lactose stands close to 68% of the entire population. Working out the math, it can be assumed that around 4.9 billion people suffer from such maladies. Product manufacturers have marketed and positioned their products as such, which highlight two key points, one-> “if you can’t consume whey-opt for plant-based protein such as pea” or have co-opted the saying, “do what is best for you and for the environment you are living in.” The last sentence tries to draw attention towards the facet of plant-based protein being cruelty-free. Cows from which milk is obtained often go through tremendous troubles of being fed GMO medicines, to enhance the yield. As per a report from Ingredion, around 38% of the consumers base their decision on whether the product is cruelty-free and is obtained via sustainable methods.
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Global Pea Protein Isolate Market Challenges
Close competition from other vegan-based protein isolates presents itself as a unique challenge
Matured products such as whey and soy isolates have positioned themselves as a market leader. Additionally, hemp protein provides close to 12 grams of protein per serving of quarter cup. Additionally, hemp has excellent sources of fiber, iron, and zinc along with omega-3 fatty acids. Recent research has also indicated that hemp seed protein may have valuable sources of blood-pressure-lowering compounds, which if positioned strategically can help the marketers gain an edge over pea proteins. As per a survey from CDC, around 50% of the adult US population have hypertension, with studies indicating that number might touch 70% if measures are not taken. Other products such as brown rice protein provide up to 22 grams of protein per serving. Moreover, scientific studies have proven an upper hand over peat protein. For example, an 8-week study found that young men who ate 48 grams of protein (brown rice) observed a 12% increment in their bicep muscles. Owing to such scientific claims and liaisons, the market would face challenges.
Global Pea Protein Isolate Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Global Pea Protein Isolate Market. The top 10- Global Pea Protein Isolate Market companies are-
Recent Developments
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Key Takeaways
Relevant Titles
A. Milk Protein Isolate Market
https://www.industryarc.com/Report/19195/milk-protein-isolate-market.html
B. Powdered Milk Market
https://www.industryarc.com/Report/17861/powdered-milk-market.html
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