Market Trends of north america pea protein ingredients Industry
Plant protein consumption growth fuels opportunities for key players in the ingredients sector
- The per capita consumption of plant protein in the region registered an increase of 2.42% from 2017 to 2022, supported by both investment and innovation. This increase was mainly due to the rise in the rate of consumers turning vegan or vegetarian in a bid to ensure animal welfare. For instance, the number of Americans following plant-based diets has increased by roughly 9.6 million people, accounting for nearly 3% of the population in the United States in 2020. After the COVID-19 pandemic, plant protein consumption skyrocketed for various reasons, including the fear of processing contamination by the virus in animal-sourced proteins and the hike in consumption of protein combinations, including animal and plant proteins or a combination of distinct plant proteins.
- Most Americans eat less meat, but they do not eliminate their consumption entirely. They also tend to be more flexitarian than vegan or vegetarian. The usage of plant protein is mainly observed in sports nutrition and meat alternatives. Soy and whey proteins are used primarily in the food and beverage, supplement, and sports nutrition industries. In 2021, around 36% of consumers were familiar with soy protein and had consumed the same, whereas 31% of individuals consumed whey protein in the U.S.
- Flexitarian is the second-largest dietary group in Canada. The percentage of consumers becoming flexitarian or vegan offers manufacturers enough opportunities to introduce and innovate more in the plant protein segment. In 2021, the Canadian government announced an investment of more than USD 4.3 million to support Canada’s pulse and special crop farmers to meet the growing consumer demand for sustainable, high-quality plant-based protein.
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United States and Canada are one of the major pea producer across North America
- 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 in the region, 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.
- Dry pea production is projected to increase over the coming years due to a constant increase in yields. For instance, lower harvested area, particularly in Alberta, was observed to produce higher yields in 2020. The Government of Canada projected that Alberta and Saskatchewan would produce 4.1 MT of dry peas, with the remainder of the production expected in Manitoba, British Columbia, and Eastern Canada. 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 higher dry pea production in Canada has made manufacturers consider Canada an apt location for establishing new pea protein processing plants. This may enable them to gain marginal profits by saving distinct supply chain costs like transportation and storage. For instance, in November 2021, Roquette, a North American pea protein producer, opened the world’s largest pea protein plant in Portage la Prairie, Canada. The new plant processes yellow peas into powdered fibers, protein, and starch for applications in the pharma sector.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Organic baby food to drive the market in the future
- Fortified beverage to witness a rise in sales during forecast period
- Hike in single-serve packets’ demand may augment production
- Dairy alternatives to witness significant growth rate
- Great opportunities for meat alternative products
- Key players focusing more on healthy ingredients post COVID-19
- Steady demand from united sates to support market
- Large commercial players lead the growth of the bakery industry
- Consumer shift toward low-carb diets poses a threat to the market growth
- Key players to focus fortification and nutritional enrichment
- Emphasizing awareness and innovation; driving force behind elderly nutrition market growth
- E-commence will emerge as one of the most preferred channels
- Sport/performance nutrition to witness significant growth during forecast period
- Cosmetic industry to drive by synergy of innovation and social media influence
