- Pea proteins find widespread applications in the sectors of beverages, food and industries. Their wide usage in so many sectors is estimated to drive the demand for the pea proteins market. Pea proteins provide the benefit of dietetic profile and useful features with concentrated amino acids. They are categorized as concentrates, isolates and coarse peas based on their protein content. Increased demand for the pea proteins market is ascribed to innovative research and development initiatives and augmenting vegetarians.
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Patents and research and development in the extraction of pea proteins are also predicted to propel the pea proteins market further. North America dominated the market in 2013. This region was the biggest market and occupied majority of the shares. The Asian Pacific pea proteins market is anticipated to rise most swiftly through the forecast periodat more than 9 percent CAGR.This is owing to growing demand for pea proteins in food applications in the nations of India, China and Japan.
Rising demand for pea proteins across these nations also adds revenue to the worldwide market. The market is likely to augment further on account of technological innovations. It is also anticipated to experience expansion on account of increased health awareness and rising demand for plant based food complements. Boosting acceptance of meat replacements and intensified apprehensions regarding lactose intolerance among adults are some of the other important factors that drive further demand for the pea proteins market.
Moreover, optimistic approach towards sports nourishment is also likely to further the sales of the market. On the other hand, plant based constituents are estimated to restrain the growth of pea proteins. Intensified research and development for product advancements is predicted to open development opportunities for the pea proteins market in the years ahead.
The pea proteins market is segmented on the strength of three categories. These are applications, kinds and geographies. The applications market includes snacks and bakery products, meat extenders and analogs, beverages, nutritional complements, and others. Boosting demand for pea proteins across these sectors is also projected to drive the demand for the market.
The kinds pea proteins market is fragmented on account of three categories. These are concentrates, isolates, and textured. Textured is divided into dry and wet. The geographies market is segmented on account of Asia Pacific, rest of the world, Europe and North America.
The applications pea proteins market was dominated by nutritional complements in 2014. These complements captured more than 65 percent of the worldwide volume. Escalated health apprehensions and boosted awareness regarding nutraceuticals are estimated to steer the sales of nutritional complements. Meat extenders and analogs are likely to be the most speedily developing application through the forecast phase.
The kindspea proteins market was leaded by isolates. Isolates are projected to undergo maximum development in the future. Textured pea proteins are being increasingly used in nutritional complements.They landed second spot with regard to leading the market.
The geographies pea proteins market, as mentioned above, was leaded by North America in 2013. The region occupied more than 35 percent of the entire volume in 2014.
Information Source: Grand View Research
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