Asia-Pacific Pea Protein Market Dynamics
Western influence on a large section of the population is increasing the demand for plant-based proteins. In addition to the influence, a majority of the population in South East Asia follows Hinduism, Buddhism or Jainism, which prohibits consumption and use of animal based products. This prohibition paves the way for plant-based sources to meet protein requirement. Added to this, rising health consciousness and negative reports on red and processed meats are shifting consumer preference to plant based products.
Pea protein concentrates contain 50% to 60% protein content with fat, around 6% ash content and 20% dietary fiber. Most commercial pea proteins concentrates are produced in Canada and Western Europe; however, some Asian sources have entered the market in recent years. The addition of pea protein concentrates in functional food is a lucrative option for people suffering from specific food allergies or sensitivities.
Textured proteins are excellent sources of protein and fiber. It meets standards of nutrition but is economical as well. Plain textured proteins have zero cholesterol. Asia-Pacific is the fastest growing market for textured proteins and is expected to grow at a CAGR of XX% from 2016 to 2021. Developing countries of Asia present the most attractive markets due to large younger populations. Asia-Pacific is expected to grow faster compared to other regions, at a CAGR of XX% during the forecasted period 2016-2021.
The success of pea protein in Asia-Pacific region is pivoted around the issues of health, ease of production, and the environment-friendly status it offers. The large-scale availability of raw materials is an important boost. However, the main benefit is derived from the value addition during production, which enables a significant profit margin. This argument derives strength from the technical fact that eating peas in their natural state would not produce the same benefits as the extracted pea protein; the value is added only after activation of special enzymes.
Asia-Pacific Pea Protein Market Segmentation
China is the biggest market followed by Japan, Australia and India. Australian markets and buying patterns are different from the remaining Asia-pacific countries. It more closely resembles the western market trends. The market though is not driven by impulse but by an economically strong and a highly aware consumer base. China occupies the leading market position, with India and Japan being other important high potential markets. Historic trust is placed in alternative medical practices and the use of naturally derived locally sourced materials. The marketing and positioning of the product on these lines would ensure the long-term success of the market.
Leaders in the Asia-Pacific Pea Protein Market
Roquette, A&B Ingredients and Axiom Foods are some of the many companies with major market shares in the segment. Companies are focused on setting up their manufacturing units in the market due to rising consumer demand. New entrants, in spite of heavy competition from major players, are targeting potential markets due to the high profits associated with the industry. Companies have engaged in extensive scientific research in order to identify better varieties and economically feasible process.
1.1 Research Methodology
1.2 Definition of the Market
1.3 Report Description
2. Key findings of the study
3. Market Dynamics
3.1.1 Increasing western influence & rising health-conscious populations in developing countries along with other uses of pea protein
3.1.2 Global increase in demand for pea protein owing to proven high nutritional profile
3.1.3 Increasing number of younger population
3.2.1 Very low consumer awareness for the product
3.2.2 High Production costs resulting in the same with product costs
3.3.1 Increased potential for plant proteins in sports drinks sector
3.3.2 Technological advancements in processing and production bringing down the product cost
3.3.3 Higher incidence of application in weight management & fitness industry
3.4 Porter Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products and Services
3.4.5 Degree of Competition
4. Market Segmentation
4.1 By Type
4.2 By Application
4.2.3 Nutritional Supplements
4.2.4 Meat Extenders
4.3 By Geography
4.3.1 South America
5. Competitive Landscape
5.1 Mergers & Acquisitions
5.2 Joint Ventures
5.3 New Product Launches
5.4 Most active companies in the past five years
5.5 Market Share Analysis
6. Company Profiles
6.1 Axiom Foods, Inc.
6.2 Cosucra-Groupe Warcoing
6.3 Nutri-Pea Limited
6.4 Roquette Freres
6.5 Shandong Jianyuan Foods Co., Ltd
6.6 Sotexpro SA
6.7 The Scoular Company
6.8 Naturz Organics
6.10 Glanbia Plc
6.11 World Food Processing (WFP)