Market Trends of pea protein ingredients Industry
Plant protein based diet linked with several health benefits is propelling the customers to incline more towards vegan offerings
- The changing dietary preferences of consumers are evident globally, and the low inclination toward meat-based products is visible among consumers. The percentage of consumers becoming flexitarian or vegan is offering manufacturers opportunities to introduce and innovate more in the plant protein segment. Globally, plant-based protein alternatives have become popular, as well as due to environmental issues, ethical reasons, and health-related concerns. Proteins take longer to digest than carbohydrates, helping one feel full longer with fewer calories. So, proteins are an essential component of healthily managing weight. Globally, Germany emerged to be one of the leaders in vegan product development and launches, accounting for 15% of the global vegan introductions between July 2017 and June 2018.
- The increasing number of young population that are indulging in sports and athletic activities, along with the shifting trends in functional ingredients fortification in the food and beverage industry due to rising demand for added health benefits in various food products, is anticipated to boost plant-based protein demand. For instance, 46.9% of U.S. adults age 18 and older met the Physical Activity Guidelines for aerobic physical activity in 2020. Similarly, 24.2% of U.S. adults age 18 and older met the Physical Activity Guidelines for both aerobic and muscle-strengthening activity. This has paved the way for the population looking for more plant-based food products. Along with this, Canada's Health Ministry revamped its food guide and released it in January 2019. This new guide has three categories, namely vegetables and fruits, whole grains, and plant-based proteins. The rising awareness about protein benefits increased protein consumption in the country.
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North America dominates the global dry pea production driven by the Canada
- Dry peas are considered the major raw material source for pea protein extraction, and the production data mentioned above is for dry peas only. Canada largely dominates the production of dry peas followed by the United States. In Canada, states like Saskatchewan, Alberta, and Manitoba are the leading producers of dry peas. Pea production in North America increased by 32% from 2015 to 2020. In 2020, the region was primarily inclined toward dried pea production, which accounted for a 95% share of total peas produced. On the other hand, in the United States, the unstable production of dry peas was due to a fall in the area seeded in North Dakota, together with lower yields and higher abandonment. During 2020-2021, the USDA forecasted that the US dry pea production would decrease by 17% to just over 0.8 MT.
- The production of peas in the Asia-Pacific is predominantly dominated by China followed by India. There are two major dried pea-producing areas in China - the Northern Dried Pea Producing Area and the Southern Dried Pea Producing Area. Ningxia, Gansu, Yunnan, and Qinghai provinces are China’s major dried pea-producing areas, accounting for over 70% of total dried pea production. In India, the production of dry peas in the country amounted to 100,440,2 tons in 2022 an increase of around 23.72% from 811,810 tons in 2019.
- Russia, France, Ukraine, and Australia are also major dry pea-producing countries in the world along with the above-mentioned countries. Yellow peas are grown in significant quantities, particularly in eastern Australia. Victoria and South Australia have historically been the largest Australian pea producers, but production has recently expanded considerably in Western Australia as a result of better varieties and improved production technology.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Asia-pacific held major market share
- Healthy trends in beverages impacting market growth
- Hike in the demand for single-serve packets may augment production
- Dairy alternative to witness significant growth
- Meat protein alternatives are revolutionizing the meat segment
- Healthy snacking preference to support market growth
- Growing demand for compound feed
- Strong hold of the retail sector is supporting market growth
- Growing preference for convenient breakfast options
- Rising at-home consumption and demand for healthy confectionery products
- Growing nutritional concerns for aging populations
- Ready-to-cook and frozen foods witnessed a surge in sales
- Rising health awareness and growing demand from millennials
- Natural ingredients highly driving the segmental sales
