Pea Protein Market Size Forecast to Exceed USD 200 million by 2023

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Pea Protein Market size forecast to exceed USD
200 million by 2023 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Pea Protein Market

• Global pea proteins market size was 11.5 kilo
  tons in 2015 and will reach 33 kilo tons in 2023,
  at a compound annual growth rate of 13.5 over
  the forecast period.
• Pea protein concentrates market accounted for
  over 30 of the overall share in 2015, with
  growth expectations of 13 from 2016 to 2023, in
  terms of volume.
• Plant dairy protein ingredients have received
  FDA approval and the European Union along with
  other countries such as Australia, Japan, and
  Canada have approved them as essential
  ingredients.

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Continued...

• Low allergenic potential coupled with nutritional
  and functional benefits are expected to
  positively impact pea protein market share over
  the next few years. Ensuring palatability through
  clean flavor profiles is at the forefront of
  product development initiatives.  
• Manufacturers have established partnerships with
  farmers, suppliers, and other companies for
  ensuring continuous raw material supply and
  efficient logistics network. They market their
  products to the food and beverage industry for
  use in meat substitutes, dietary supplements,
  beverages, and baked goods.
• Notable industry participants include Roquette
  Freres, Cosucra Groupe Warcoing, Nutri-Pea
  Limited, and Burcon NutraScience.

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Europe pea protein market size by application,
2012 - 2023 (Tons)

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360 Analysis

• Product Analysis
• Pea protein isolate market size is expected to
  remain the leading segment, and accounted for
  over 40 of the global share in 2015. It is
  expected to grow at 13.9 CAGR to surpass 14.5
  kilo tons by 2023. These products are finding
  increasing use in the food and beverage industry,
  primarily due to their non-allergy properties and
  emulsifying characteristics.
• Regional Analysis
• Asia Pacific, with strong demand in China and
  India pea protein market share, is expected to
  witness high growth of 16.9 over the forecast
  period. Key growth drivers include increasing
  vegetarian population, new extraction techniques
  and advanced RD initiatives taken by various
  companies.
• Competitive Market Share
• Pea protein market share is mainly accounted for
  by Roquette Freres, Burcon NutraScience,
  Nutri-Pea Limited, and Cosucra Groupe Warcoing.
• Burcon has worked on products that help in
  fortifying juices, sports drinks, soft drinks,
  etc. France-based Roquette partnered with World
  Food Processing (WFP) in 2014, wherein the latter
  would manufacture Roquette pea protein in the
  U.S., on account of high regional demand.

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