Driven by expanding consumer awareness about the importance of eating a healthy diet and maintaining an active lifestyle, the Pea Protein Market is Forecasted to Cross US$ 1,100 Mn by 2028 says Ken Research Study.
Pea protein is a dietary product and protein supplement developed and extracted from yellow split peas, chickpeas, and lentils. It can be used as a food replacement or dietary supplement to boost a person's consumption of protein or other nutrients. Pea proteins are perfect for people choosing vegan diets because they are made from plant-based sources. Additionally, they have a wide range of applications in beverages, meat alternatives, dietary supplements, and bakery goods and are non-toxic, non-allergic, and easily digestible.
According to Ken Research estimates, the Global Pea Protein Market – which grew from around US$ 350 million in 2017 to nearly US$ 575 million in 2022 – is expected to grow further into a ~US$ 1,100 million opportunities by 2028.
Ken Research shares 3 key insights on this fast growing market from its latest research study.
Increasing demand due to consumer awareness of the health benefits of pea protein
Pea protein is commercially produced from defatted peanut flour using a variety of methods. Due to the rapidly growing popularity of this form of protein among a variety of end-users, including vegans, vegetarians, and persons allergic to egg and dairy proteins, it is anticipated to experience significant growth over the course of the projection period. Green and yellow split peas are used to extract it. Here, protein derived from green peas is hypoallergenic, cholesterol, fat, and gluten-free. Lysine cannot be produced by the human body, unlike some other amino acids, hence it must be obtained from external supplements. This kind of protein is crucial for newborn formulas since it is particularly high in arginine and lysine. Additionally, it aids in converting fats into energy, which lowers cholesterol levels in the body.
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Countries Expanding Vegan Populations Are Driving Up Demand for Pea Protein
The market expansion is anticipated to be aided by the rising vegan population in various nations, which is primarily driven by environmental and health concerns. Vegans are more likely to choose goods with added plant-based proteins to meet their protein needs. Additionally, raising livestock takes a lot of fodder, which necessitates additional agricultural area, insecticides, and water. Due to the previously mentioned sustainability problems with livestock farming, a large population in the area is turning more and more to a vegan diet.
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Additionally, meat's high levels of fat and cholesterol are linked to major health issues like cancer and heart disease, which has raised the popularity of vegan diets. Furthermore, among the few additional variables influencing the growth of the vegan community are expanding social media effects regarding veganism, an increase in vegan alternatives to meat products, and animal cruelty. Producers of processed foods are utilizing ingredients made from plants to appeal to the vegan population, which is anticipated to drive the expansion of the Global Pea Protein Market.
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According to Veganz, a vegan brand, in 2021, 3.2% of the population in the UK consumes only plant-based foods. Italy comes in second for the percentage of vegans with 2.3%, closely trailed by Germany with 2.2%. Compared to other countries, France has the fewest vegans (2.0%).
Potential Pea Protein Side Effects Are Restricting Market Growth
Pea protein is generally well-tolerated and thought to have a very low risk of adverse reactions. However, the adverse consequences of this protein, particularly when consumed as a powder, have hampered the development of the sector. Protein supplement products that use powdered pea protein frequently contain 110–390 mg of salt per serving and may cause health problems, especially for people on sodium-restricted diets. This kind of protein powder usage might have negative effects like weight gain, impaired kidney function, and joint pain. Over the course of the projected period, these factors are anticipated to limit the market growth.
According to ScienceDirect, in 2021, Peanut (14.2%), white lupine (13.2%), and pea (9.4%) had the highest prevalence of sensitization, followed by blue lupine (8.5%), soybean (8.5%), chickpea (8.5%), and white bean (7.5%), and black lentil (6.6%), faba bean (5.7%), and green lentil (5.7%).
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Ankur Gupta, Head Marketing & Communications