South America Pea Protein Market Outlook 2031
The South America Pea Protein market size was valued at USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031 expanding at a CAGR of 7.2% during 2023 – 2031. The growth of market is attributed to growing inclination towards vegan diet, flexitarian diet concept, and millennial populations shifting preference towards plant-based functional food.
The consumption of animal-based protein is highly associated with cholesterol, fats, and calories which increase the probability of cardiac arrest, obesity, and increase of blood sugar level, thus the preference of the population are shifting towards organic source of protein.
Pea protein perceives cost-effective and follow healthier life style and are rich in all nine essential nutritional amino acid also rich source of fibers, minerals, vitamins, potassium, foliate, selenium, and magnesium.
Pea-based products are low in carbohydrates, which acts as a source of the protein, hence act as beneficiary factor for the human body. Other health benefits associated with the pea products includes regulating blood pressure, helps in weight loss and gain muscles, and reduces craving for munchies.
Compared with other protein products pea-based protein is low in methionine content, thus other protein ingredients are essential to ensure that the body receives adequate compulsory nutrients. With the changing technology the vendors are offering various products which includes the similar organoleptic properties of real meat.
South America Pea Protein Market Trends, Drivers, Restraints, and Opportunities
- Increasing awareness towards risk factors involves in meat consumption is estimated to fuel the market in the coming years.
- Growing vegan population accompanied by flexitarian diet concept is expected to drive the market during the forecast period.
- Increasing demand due to GMO and allergy free nature of the product is anticipated to boost the market.
- R&D and technological advancement on product innovation offering the same properties and nutritional value of the real meat creates and immense opportunities for the key player in the market.
- Increasing awareness about global warming and animal cruelty has increased the shift in demand for pea protein and is anticipated to propel the market in the coming years.
- Lack of protein content in pea as compared to meat based product act as one of the factor that can hamper the growth of the market in the coming years.
Scope of the South America Pea Protein Market
The report on the South America pea protein market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Pea Protein Market – South America Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Pea Protein Isolates, Pea Protein Concentrates, and Textured Pea Protein), Applications (Beverages, Nutrition Supplements, Bakery, Meat Extenders and Substitutes, Snacks, and Others)
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Geographical Scope
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Argentina, Brazil, Rest of South America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Fenchem; Cosucra-Groupe Warcoing; Roquette Freres; Glanbia Plc; Puris Foods.
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South America Pea Protein Market Segment Insights
The isolated protein segment is expected to exhibit high CAGR
Based on types, the market is segregated into pea protein isolates, pea protein concentrates, and textured pea protein. The isolated protein segment is expected to exhibit high CAGR in the coming years due to application used in several different industries for e.g., dairy products, confectionaries, and plant-based meat products which makes them highly digestible and provides all the essential nutrition’s for the body.
The meat extenders and substitutes segment is estimated to hold key share of the market
On the basis of applications, the market is fragmented into beverages, nutrition supplements, bakery, meat extenders & substitutes, snacks, and others. The meat extenders and substitutes segment is estimated to hold key share of the market during the forecast period owing to its versatility it can be used for several applications such as Bolognese sauces, pizza dressings & nuggets, sausages, stuffing and more.
The Brazil segment is anticipated to dominate the market
In the term of geographies, the market is categorized into Argentina, Brazil, and Rest of South America. Brazil is anticipated to dominate the market during the projected period due to increasing disposable income and globalization, changing consumers’ preferences right from food consumption to lifestyle choice, and a strong hold of fitness.
Segments
The South America pea protein market has been segregated on the basis of
Types
- Protein Isolates
- Protein Concentrates
- Textured Protein
Applications
- Beverages
- Nutrition Supplements
- Bakery
- Meat Extenders and Substitutes
- Snacks
- Other
Geographies
- Argentina
- Brazil
- Rest of South America
Key Players
Competitive Landscape
Key players competing in the South America pea protein market include Fenchem; Cosucra-Groupe Warcoing; Roquette Freres; Glanbia Plc.; Puris Foods.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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