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The recent past has seen a surge in interest in pea protein, given its high amino acid content. This, in turn, creates a highly conducive environment for growth of the associated pea fiber market. For every five parts of pea protein produced, three parts of pea fiber are produced as a byproduct. This is usually discarded, and hence, is procured by pea fiber producers at very low costs.
Fact.MR in its newest report states that major players in the pea protein market are venturing into this segment, given the low capital investment in setting up complementary infrastructure to extract pea fiber. This highly favorable growth of the pea protein creates a highly conducive environment for the associated pea fiber market, which is expected to exhibit a promising CAGR of ~8% during the forecast period (2019-2029).
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Key Takeaways of the Pea Fiber Market
- According to Fact.MR, animal feed is the leading application for pea fiber and is expected to continue along the high growth trajectory over the following decade
- Organic pea fiber is estimated to be predominantly used in food sector, as an additive in premium organic food
- Pea fiber is also used in vegan food products and is the perfect fiber of choice for products directed at lactose-intolerant consumers
- Fact.MR notes that pea fiber with non-GMO and HACCP certifications are highly sought after by end-use industries to ensure regulatory compliance
- Canada is the world’s largest producer of pea. Moreover, North America has a high density of vegans, making it a highly lucrative market for pea fiber, especially for inner hull pea fiber
- Russia is projected to emerge as the largest producer of pea in the not-so-distant future. This, along with the high density of food manufacturers and propensity of the populace towards adopting all natural food products, positions it as a high growth market towards the latter half of the market.
“Usage of pea fiber in beverages such as carbonated drinks is relatively new. This has opened a new revenue stream for pea fiber industry, which is further expected to grow as its penetration increases in this application area” says the Fact.MR analyst
Pea Fiber to See More than Two-Fold Growth in Bakery and Confectionery Through 2029
Fact.MR says that in spite of available, cost effective alternatives for pea fiber like potato and wheat fiber, pea fiber is likely to emerge as popular choice in the upcoming years. This is mainly attributable to its high stability and functional properties. It is widely used as a food additive. The anti-staling and breakage reduction properties of pea fiber has created unique demand in bakery and confectionery applications of pea fiber as an emulsifier. Demand for pea fiber in beverages and bakery & confectionery is further expected to increase over the forecast period.
Find More Valuable Insights on Pea Fiber Market
Fact.MR, in its new offering, brings to the fore an unbiased analysis of the global pea fiber market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study divulges compelling insights on the pea fiber market on the basis of product (inner pea fiber and outer pea fiber), Application (bakery, vegan meat substitute, soups & sauces, beverages, animal foods and other applications), source (organic and conventional) and grade (food grade and feed grade) across six major regions.
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The report answers important questions which include:
- Why is player leading the Pea Fiber Market in region?
- Which factors pose a negative impact on the Pea Fiber Market growth?
- What was the value registered by the Pea Fiber Market in 2018?
- What challenges do the Pea Fiber Market players face during R&D stages?
- Which countries contribute a significant share to the total market revenue in region?
Key findings of the Market report:
- Prominent manufacturers, raw material suppliers, equipment providers, traders, and distributors in the Pea Fiber market.
- In-depth analysis of important market segments, market potential, impacting trends, and challenges.
- Critical examination of the strengths, weaknesses, opportunities and threats of each Market player.
- Extensive investigation of the effects of the growth of relevant industries.
- Accurate data regarding the future prospects of the Market during the forecast period.
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