Vegan Protein Market annual consumption will hit 34 kilo tons by 2024

Europe Vegan Protein Market from nutraceutical applications exceeded USD 2.3 million in 2017 and is expected to achieve significant CAGR up to 2024 driven by growing demand for gluten & fat-free nutritional products.

Selbyville, United States – April 30, 2019 /MarketersMedia/ —

North America vegan protein market from meat substitute applications should exceed USD 20 million by 2024. These products are suitable for consumers allergic to animal-based products and vegetarians who struggle to fulfill their daily nutrient intake. Technological advancement in manufacturing techniques have resulted in textured product development which resemble meat. Rising concerns towards cardiovascular diseases caused due to red meat consumption and significant consumer trend for weight management should accelerate market growth.

Global vegan protein market is set to surpass USD 160 million by 2024; according to a new research report by Global Market Insights, Inc. Increasing product usage in meat substitutes, dietary supplements, and nutraceuticals industries should stimulate pea protein market size. There has been a significant rise in consumer consciousness towards weight loss, calorie reduction and protein supplementation along with focused advertising campaigns for promotions by various companies. These products are a rich iron source, dairy-free, vegan, complements special health diets and imparts a feeling of fullness. Growing number of consumers searching for simpler labels, great taste, and alternative protein sources to solve personalized nutrition choices which in turn may accelerate pea protein market growth.

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Pea protein isolate market surpassed USD 25 million in 2017 primarily on account of growing demand from bakery products, snacks and beverage industries. These products finds widespread use as meat texturizing agents pertaining to their substantial amino acid content, desirable water-binding properties, high solubility and excellent emulsification. Isolates contains over 90-95% of proteins and are viable alternatives for people allergic to dairy products which is likely to increase product demand from the sports nutrition sector.

U.S. textured vegan protein market size should witness consumption at over 2 kilo tons by the end of the predicted timeframe. These products are comparatively less expensive than meat, fish and poultry along with being more environment friendly and sustainable nutrition source. These products are widely used as meat substitutes and extenders on account of their unique taste and enhanced texture. They are extensively used to produce vegan alternatives to various meat products such as nuggets, meatballs, and patties which can be grilled or microwaved, thus stimulating market growth.

Browse key industry insights spread across 180 pages with 175 market data tables & 41 figures & charts from the report, “Pea Protein Market By Products (Isolates, Concentrates, Textured Pea Protein), By Application (Meat Substitutes, Nutraceuticals, Sports Supplements), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Poland, China, Japan, India, South Korea, Australia, Malaysia, Thailand, Brazil, Saudi Arabia, UAE, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/pea-protein-market-report

Germany vegan protein market demand from sports supplement applications should register gains of over 11% by 2024. These products consist of branched-chain amino acids that are essential for decreasing muscle breakdown after workouts. They serve as a rich protein source for vegetarians, vegans, have a similar amino acid profile to animal products and improved assimilability as compared to other plant products. These products promote muscle repair, balance blood sugar which can aid in healthy weight loss and ensure the production of immune cells and neurotransmitters which should further promote pea protein market growth.

In 2017, China vegan protein concentrate market size surpassed USD 3.5 million. These products have a slight savoury taste and is considered a great option for weight management along with being gluten-free & non-GMO in nature. These concentrates help in increasing the protein content in animal feed concentrates without altering its aroma, flavour and colour properties. They allow nutrient fortification and yield improvement of pet food as they are devoid of lactose, gluten & allergens. These products offer various benefits such as a powerful bean fragrance, oil & water retention, foaminess and emulsification which should increase pea protein demand.

Major industry participants for vegan protein market include The Scoular Company, Cosucra-Groupe Warcoing, Roquette Frerers, Shandong Jianyuan Group and Glanbia Nutritionals. Prominent manufacturers are engaged in production capacity expansions to satisfy growing consumer demand and research & development initiatives to identify better active ingredients which should promote pea protein market growth.

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Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/pressrelease/pea-protein-market-size

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Release ID: 507882