Asia Pacific Pea Protein Market size has been estimated at USD 10.06 Million in 2022 and is projected to reach USD 17.13 Million by 2028, at a CAGR of 11.6% during the forecast period from 2023 to 2028.
Pea protein and other plant proteins such as rice and wheat have complementary amino acid profiles, and when combined, offer enhanced nutritional benefits. With a great increase in veganism and vegetarianism, in recent times, pea protein emerges as a viable alternative to meat and dairy proteins.
Changing the lifestyle of the consumers, by adopting a healthier lifestyle due to the increasing concern for health and wellness is one of the main reasons for the market growth of Pea Proteins in Asia-Pacific region. Also, increasing glucose intolerance and rising demand for gluten-free products is also increasing market growth. But, in spite of this, there are still people who aren’t aware of the benefits of Pea Proteins. This, along with the high costs of Pea Protein can dampen the market growth in the regions of Asia-Pacific.
The research done takes place in two phases namely-
Secondary Research The first phase of the research process is an extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. An extensive secondary research helps in generating hypothesis and identifying critical areas of interest that are investigated through primary research.
Primary Research This entails conducting hundreds of primary interviews with industry participants and commentators in order to validate the data points obtained from secondary research and to fill the data gaps. A primary interview provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc. It also helps in deciding the scope and deliverables of the study in terms of the requirement of the market. Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies.
The Asia-Pacific pea protein market is segmented on the basis of type, application and region. On the basis of type, the pea protein market is segmented into concentrated, isolated and textured. In addition, the textured pea protein is sub-segmented into wet and dry. Furthermore, on the basis of application the market is segmented into snacks & bakery products, meat extenders, meat substitutes, food & beverages and other food application. The meat substitute segment is likely to grow at a significant rate over the forecast period compared to other areas.
Furthermore, on the basis of geography, the Asia-Pacific Market is analysed under various regions namely, India, China, Japan, South Korea and Australia. Asia Pacific pea protein industry is estimated to witness high growth due to rising consumption of nutrition-rich functional food products. Growing demand for meat substitute and sports & fitness supplements is also augmenting the market growth Also, regulatory conditions in India and China aimed at agricultural industry growth, is quite favourable, which is resulting in large raw material supply for pea protein manufacturers.
Key Players in the Market:
Major Key Players in the Asia Pacific Pea Protein Industry are
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