Yellow Pea Protein Market: Introduction
A recent
study published by Transparency Market Research on the yellow pea
protein market includes global market analysis and
opportunities for 2020-2030. The
global yellow pea protein market was forecast to be valued at ~US$
1.7 Bn in 2020. The yellow
pea protein market is projected to rise at a CAGR of 6.1%,
to reach ~US$
3.1 Bn by 2030.
The number
of COVID-19 patients is rising rapidly across the globe. The consumption of
animal-based products is decreasing as the number of diseases caused by animals
is increasing. The consumers are preferring plant-based products over
animal-based products. The number of vegan, flexitarian, and vegetarian
population is rising globally, which is beneficial for yellow pea protein
market. Due to COVID-19, a large number of countries were in lockdown for last
two-three months and world is facing is economic issues. There is disturbance
in supply chain due to lockdown following which yellow pea protein market is
expected to grow at moderate rate for next two years.
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Exploring New Application Areas
The demand
for yellow pea protein in the beverages industry is expected to increase in the
forecast period, owing to rising inclination toward the usage of plant-based
ingredients. In 2018, Cargill,
Incorporated, invested nearly US$ 75 Mn in
leading North American ingredients producer PURIS. The investment is primarily
made for yellow pea protein, starch, and protein in the food & beverages
industry. Leading companies operating in the plant-based ingredients market
such as A&B Ingredients and Roquette Freres are expected to increase their
overall production of yellow pea protein, and are aware of its demand in the
beverages industry. The global beverages industry is rigorously growing
historically and is anticipated to touch the mark of nearly US$
1.9 Trn by 2020. The
remarkable growth backed with the trend of organic ingredients in the beverage
industry is expected to boost the yellow pea protein market growth to a greater
extent.
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Demand for Non-GMO Ingredients to
Create Lucrative Opportunities
Globally,
manufacturers are trying to meet the terms of federal GMO labeling laws. Many
manufacturers are providing breakfast cereals products using the non-GMO labels
to help increase their volume sales. Several factors are influencing the rising
demand for non-GMO products. Among other factors, social media and other
platforms are playing a significant role in consumers' food and beverage
choices. Additionally, consumers' desire to eat healthy food and distrust in
genetically modified food or ingredients are major factors that are affecting
the overall demand for non-GMO ingredients. Manufacturers operating in the
yellow pea protein market are focused on adopting a backward integration
strategy. This strategy helps these manufacturers to use desired raw material
for their products, mainly due to need for non-GMO peas.
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About Us
Transparency Market Research (TMR) is a global market
intelligence company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend analysis
provides forward-looking insights to thousands of decision makers. TMR’s
experienced team of analysts, researchers, and consultants use proprietary data
sources and various tools and techniques to gather and analyse information.
TMR’s data repository is continuously updated and revised by a
team of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities, Transparency
Market Research employs rigorous primary and secondary research techniques to
develop distinctive data sets and research material for business reports.
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