The millennial population is becoming more concerned about their health, and they are opting for a balanced diet with nutritional food. Diet and nutrition involve the consumption of a large amount of protein, and a majority of consumers prefer organic products owing to their high nutritional content. Organic pea protein is perceived to be free from additives, are naturally sourced and non-GMO, and its nutritional value makes it the perfect source of protein for health-conscious people around the world. Thus, organic pea protein is emerging as the perfect diet ingredient for health-conscious consumers.
The global organic pea protein market has witnessed substantial growth over the past few years, and this growth is anticipated to continue in the foreseeable future. The market is estimated to rise at a substantial growth rate of 7% over the forecast period of 2020-2030.
Strong worldwide distresses about the coronavirus pandemic has negatively influenced global operations in the food & beverage industry, and the mindset of consumers about the associated health risks. Additionally, on the trade and industry front, although the prices of organic pea protein have remained stable, a prolonged outbreak of COVID-19 will lead to economic uncertainty in pea trade, and rise in the prices of food ingredients. While the short-term impacts are more evident, it is yet to be assumed what degree of impact the outbreak of COVID-19 will have on the supply chain in the long term.
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Key Takeaways from Global Organic Pea Protein Market Study
Increasing inclination of consumers toward plant-based diets, along with the popularity of veganism in many countries, is boosting the demand for organic pea protein in the global market.
Organic products are free from chemicals, and thus, they are considered as ideal products for health-conscious consumers. This increasing demand for organic products is also propelling the growth of the organic pea protein market.
Organic pea protein isolates contain the highest concentration of protein, which is why they will witness high demand across the globe.
North America and Europe collectively account for more than 70% share in the global organic pea protein market, owing to the increasing vegan and vegetarian population along with growing number of health-conscious consumers.
“Organic pea protein is mainly used in food, dietary supplements, and functional beverage preparations. Key players in the global organic pea protein market could increase their profits by positioning this as a premium food ingredient for premium consumers. The COVID-19 pandemic has already impacted the premium products market due to supply chain disruptions. Thus, manufacturers of organic pea protein have to restructure their business strategies to increase their revenue, says a PMR analyst.
Global Organic Pea Protein Market: Competitive Landscape
Key players in the global pea protein market are mainly focusing on increasing their global presence and market penetration. Manufacturers of organic pea protein are strategically partnering with various retail stores to feature their products.
For instance, Axiom Foods Inc. has partnered with retailers and multi-brand stores to feature its plant-based protein ingredients, so as to increase its market presence.
Also, manufactures of organic pea protein have adopted a strategy of implementing high-performance distribution networks to support their claim as world-leading providers of plant-based ingredients.
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Explore More Valuable Insights on Organic Pea Protein Market
Persistence Market Research, in its new report, offers an impartial global organic pea protein market assessment, presenting historical data (2015-2019) and estimation statistics for the period of 2020-2030. The study offers compelling insights on the organic pea protein market based on form (isolates, concentrates, and hydrolysates), and end use (food & beverages, dietary supplements, animal feed, cosmetics & personal care, and pharmaceuticals), across seven regions.
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