North America Pea Protein Market Dynamics
Lifestyle changes have seen a sudden drift with a subsequent rise in health awareness among the populations. Consumers are more focused on a healthy diet which in turn is giving rise to the pea proteins market. Among consumers post-2012, vegan diet is gaining momentum which is an alternative to meat products for the fitness-conscious population.
Plant-based proteins due to their higher nutritional specifications, compared to that of synthetic proteins had gained popularity in sports drinks industry. Technological advancements in processing and manufacture have brought down the product cost. Extensive research has resulted in improving the taste and texture to the former, which was rather bland and lacking rich texture. With their proven health benefits, pea protein has a higher scope of incidence in weight management and fitness industry, creating an opportunity for a money-spinning venture in the sector. Textured proteins are excellent sources of protein and fiber. Many public schools in North America are using textured vegetable proteins as a food source in the breakfast and lunch programs. It meets standards of nutrition but is economical as well. Plain textured proteins have zero cholesterol.
North America Pea Protein Market Segmentation
North American market estimated to grow at a CAGR of 8.8% during the forecasted period with a market value of USD XX million by 2021. North America is the biggest market for pea protein with a share of 35%. Part of the reason for this is the rise in the number of research activities in the pharmaceutical industry and the growing protein engineering market. The market for North America is matured and is expected to grow at a slower growth rate compared to other regions like Asia-Pacific.
The US is the major market in North American region. Its market is growing especially with the rising demand of French-grown yellow peas which is also branded by Roquette under the name of Nutralys. Canada is a matured market for pea proteins. Rising number of younger population who are fitness conscious has spiked the Mexican market for pea protein.
Leaders in the North American 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 US, due to rising consumer demand.
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 Consumer preferences for healthier & natural vegan diet in the European countries and growing demand for plant-based alternatives to meat products
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
3.4 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
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)