Global Pea Derivatives Market Size, Share & Industry Trends Analysis Report By Application (Meat Substitutes, Bakery Goods, Dietary Supplements, Beverages, and Others), By Type, By Regional Outlook and Forecast, 2022 - 2028
The Global Pea Derivatives Market size is expected to reach $5 billion by 2028, rising at a market growth of 10.6% CAGR during the forecast period.
The pea, or Pisum sativum, is a significant food source high in protein, carbohydrates, and fiber. Due to its minimal allergenicity, availability, affordability, high protein content, and origin from a sustainable crop, pea protein is regarded in the international industry as a functional ingredient and a high-quality protein. The solubility, ability to hold both water and oil, ability to form emulsions, ability to gel, and viscosity of pea derivatives are all great functional qualities.
Due to these beneficial qualities, pea derivatives are a prospective component in the food sector. The leguminous family's highly cultivated pea is a nutrient-dense pulse crop. Researchers and consumers have recently become very interested in peas' nutritional and health benefits and their byproducts enhanced with biomolecules. The essential nutritional value of peas is well established.
They contain high-quality proteins, starch, carbs, dietary fibers, and micronutrients like vitamins and minerals. Moreover, it is enhanced with non-nutritional phytochemicals, antioxidants, flavonoids, tannins, and other phenolic compounds. By fostering intestinal bacteria, dietary fiber taken from a cell wall's cotyledon, seed coats, and pods has been shown to hasten gastrointestinal activity. By lowering the glycemic index and decreasing the digestion of pea starch, intermediate amylose helps to keep blood sugar levels stable.
Peptides produced from pea proteins provide potential in nutraceuticals. Non-galactooligosaccharides obtained from peas may also reduce the gas produced during fermentation by colonic bacteria. The pea pod with some antioxidant effects also included anti-acetylcholinesterase (anti-AChE).
COVID-19 Impact Analysis
Export restrictions had a detrimental impact on the price of processed products like protein, fiber, and starch. They had a direct impact on the price of numerous crops like peas. As a result, during and after the pandemic, the high price of many pea-based goods acted as a substantial barrier to market growth. Furthermore, the pandemic-induced recession, which reduced many people's disposable money, further contributed to the market's contraction. This is mainly because people opted for cheaper alternatives instead of pea-based products and derivatives. Therefore, the pandemic had a negative impact on the pea derivatives market.
Market Growth Factors
Inclusion of the latest technologies in the pea derivatives extraction and manufacturing processes
Original products with special qualities for certain uses, businesses are heavily spending on research and development. Due to their rich protein content and diverse amino acid composition, pea protein isolates, for instance, have experienced tremendous growth as a vegan protein substitute. Moreover, the texture and flavor of food products are improved by adding pea fibers. Therefore, incorporating the latest manufacturing processes and technologies has aided in the faster and easier extraction of pea derivatives, facilitating the market's growth.
Rising number of studies proving the cancer-preventative properties of pea and pea derivatives
Bioactive substances, such as saponins, lectins, non-starch polysaccharides, folate, selenium, oligosaccharides, and zinc that are present in pulses may operate as a protective mechanism against cancer. Peas contribute to a healthy diet and reduce the risk of cancer due to many bioactive phytochemicals and minerals. As a result, their derivatives are extensively used in supplements and medicines with cancer-preventive effects. In the coming years, more companies will emerge that would utilize these benefits or pea derivatives and thus will drive the market's growth.
Market Restraining Factors
Reduction in dry pea production worldwide
Peas need nitrogen- and nutrient-rich, well-draining soil. Pea crops may not flourish as well or offer lesser yields if these nutrients are lacking in the soil. Especially during dry spells, peas need to be regularly watered. Pea plants could grow improperly and produce less yield if insufficient water is unavailable. These elements could interact, amplifying the effects of each other. In addition, crop cultivation has declined slightly in many places due to the extended dry season. Many of these factors are impeding the pea derivatives market from expanding.
Type Outlook
Based on type, the pea derivatives market is categorized into pea protein, pea starch, pea fiber, and others. The pea fiber segment procured a considerable growth rate in the pea derivatives market in 2021. Peas are used to extract pea fiber, a nutritional fiber. It is a naturally occurring, non-allergenic, and gluten-free substance with several health advantages. Both soluble and insoluble fiber are included in pea fiber, which is crucial for preventing chronic diseases and maintaining digestive health.
Application Outlook
Based on application, the pea derivatives market is segmented into meat substitutes, bakery goods, dietary supplements, beverages, and others. The meat substitutes segment witnessed the maximum revenue share in the pea derivatives market in 2021. With a constant rise in the vegan population due to environmental and health concerns, the popularity of meat substitutes is dramatically rising. The emergence of meat substitute businesses in recent years verifies the rising popularity and evolving consumer trends.
Regional Outlook
On the basis of region, the pea derivatives market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment procured the highest revenue share in the pea derivatives market in 2021. Because of the rising demand for cold cereals, energy bars, and snacks, the regional market is anticipated to expand significantly over the coming years. Many pea protein producers, including Burcon, Nutri-Pea, and Roquette, are in Canada. This is a result of the significant pea production in the nation, which has increased the market's accessibility to pea-based products, encouraging market expansion in North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include International Flavors & Fragrances, Inc., Roquette Freres SA, PURIS, NutriPea LP (G.S. Dunn Dry Mustard Millers), The Scoular Company, Fenchem Biotek Ltd., The Green Labs LLC, COSUCRA Groupe Warcoing S.A., Burcon NutraScience Corporation, and Sotexpro (GEMEF Industries).
Scope of the Study
Market Segments covered in the Report:
By Application
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