This article is written and sponsored by Transparency Market Research.
The rise of veganism is expected to fuel the global textured pea protein market over the coming years. In fact, the market is seen growing at a CAGR of 7.6% through 2030 and reaching $800 million by the end of the forecast period, according to Transparency Market Research.
End use pea protein products are used in food processing, nutraceuticals, infant nutrition, personal care, animal feed, sports nutrition, and cosmetics.
Europe Leads in Market Share
In the coming years, Europe is expected to account for the largest market share, followed closely by North America. Key drivers for expansion include large-scale production and the low cost of raw materials. Furthermore, rising consumer demand for all natural and organic foods that align with healthier lifestyles and avoid chemical additives are seen bolstering demand. Improvements in texture are also expected to boost growth.
Concerns about red meat and the associated risk of cardiovascular disorders are also fueling the demand for vegan and organic products.
Manufacturers, Product Launches and M&A
Some of the leading players in the global textured pea protein market are Rouquette Freres, Puris Foods, Emsland Group, The Green Labs LLC, Glanbia PLC, The Scoular Company, SotexPro, Shandong Jianyuan Foods Co., Ltd., Kerry Inc., DuPont, Ingredion, Fenchem Inc., A & B Ingredients, Axiom Foods Inc., Burcon Nutrascience Corp Cosucra Groupe Warcoing, AGT Foods, Yan Tai Shuang Ta Food Co. Ltd., and Batory Foods. Market participants are adopting various corporate growth strategies, such as strategic collaborations, partnerships, and mergers and acquisitions, to gain a competitive edge.
For example, Healy Group and a U.K.-based pea ingredient supplier Nova Farina collaborated in December 2019 to launch PrimaTex, a textured pea protein for plant-based applications. Other developments include:
- Vitessence Pulse 1803 pea protein isolate was launched in September 2019 by Ingredion Inc.
- A new plant-based protein called NUTRALYS TP-C was launched by Rouquette Freres in December 2019, offering various textured options and a new taste.
Manufacturers are focused on providing customers with non-GMO, high quality, allergen-free products with no additives or preservatives. Furthermore, they are also expanding by launching new products via e-commerce, and investing heavily in research and development.
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