TexturedPea Protein Market: Introduction
A recentstudy published by Transparency Market Research on the textured peaprotein market comprises global industry analysis andopportunity assessment for 2020-2030. Revenuegenerated from the global textured pea protein market was valued at ~US$400 Mn in 2020, which isestimated to rise at a CAGR of 7.6%, toreach US$ 800 Mn by 2030.
Rising Popularity of MeatSubstitutes
Theincreasing demand for plant-based meat protein has resulted in rise in demandfor textured pea protein products, thus propelling the growth of the texturedpea protein market. Due to its functional properties and innovation in texturedpea protein such as isolation of starch fiber to mimic meaty texture,manufacturer are moving from soy to textured pea protein products. Textured peaprotein has functional benefits, particularly in gluten free applications,which include gelation, and increased browning and water holding.
The growingacceptance of veganism and plant-based (vegan) eating habits is fuelingconsumer demand for meat substitutes. The sensory attributes ofplant-based meat, including its aroma, texture, unique taste, andmouth feel, are highly appreciated by consumers.
Inaddition, in culinary products, textured pea protein has excellent meatextender or meat binding properties as a meat substitute in differentapplications such as in nuggets, meats, sauces, steaks, and dishes cooked.
Manufacturersand retailers are pushing hard to cater to the growing flexitarian market,feeling more challenged and pressure than ever before to produce meat-freeproducts that meet all consumer demands.
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Clean Label Moving to Idea ofDeep-Rooted Transparency
The cleanlabel trend is embracing a wider remit to include products with higher healthbenefits. Clean label is a term that has been used in the food industry frommany years; however, nowadays, this term is used as a catch phrase to attractmodern day consumers. Clean label has now become mainstream with consumersdemanding to understand everything about the products, starting from theirevolution to their benefits. This trend is prompting manufacturers to upscaletheir clean label game and introduce more products with greater transparency,less complexity, and simple sounding ingredients.
Texturedpea protein is a gluten and soy free product, with a pleasant taste andtexture, making it a great addition to traditional ingredients in a widevariety of applications. Textured pea protein is a clean label product, as itis organic, GMO free, high in protein, low in carbs, regenerative product withno artificial ingredients or synthetic chemicals.
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Consumersare looking for total transparency from the manufacturer; thus, manufacturersare expanding its range of plant-based ingredient solutions with the launchingof new products to meet increasing consumer demand for protein-rich products.
Textured Pea Protein GainingTraction in Snacks Market
Busy lifedue to unhealthy eating habits is making consumer demand specific dietaryrequirements and high nutritional items. Healthy snacking improves energylevels and mental clarity. Regularly smart snacking helps keep blood sugarlevels throughout the day, helping to maintain and lose weight.
Texturedpea protein is a naturally gluten and soy free product, and due to risingconcern toward lactose intolerance levels among vegan and vegetarianpopulation. This trend is fueling the demand for textured pea protein productsand consumer awareness of the textured pea protein market globally. The launchof new products will have a positive impact on the market and will result inincreased demand for textured pea protein in the snacks industry in theupcoming years.
Manufacturersare seeking to improve the nutritional content of snacks and on-the-go foodsand beverages with protein sources derived from plants. Rise in ‘value-add’treats and snacks, which highlights desirable benefits from textured peaprotein also boosting the demand for textured pea protein market.
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Growing Demand for Textured PeaProtein in Bakery & Confectionery
Texturedpea protein are non-allergic, owing to this factor. There is a rising trendtoward pea protein ingredients. The flaming prevalence of lactose intoleranceamong children and infants in developing regions are also boosting the demandfor textured pea protein market. Furthermore, plant-based protein is moreeasily digestible than animal-based protein. Increasing demand for veganalternatives in the food & beverages industry, along with rising awarenesstoward benefits of natural ingredients is likely to boost product demand.
Inaddition, emulsifying properties, good solubility, easy mixing, outstandingwater dispersion, and powder fluidity are all features of textured pea proteinthat bakery & confectionery industry is seeking in its products.Thus, textured pea protein is mostly used in bakery, pastry, confectionery,dairy, and dessert products. This increases the demand for textured pea proteinin confectionery & bakery companies, owing to its sensory profile andtextured form that make it user-friendly.
In bakery& confectionery preparations, such as energy bars, chocolates, and candies,industrial players are increasingly adopting textured pea protein. Rapidmarket change to high quality products, along with rising consumer lifestyle isdriving manufacturers to opt for economical and vegetarianingredients.
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Impact of COVID-19: TexturedPea Protein Market
TheCovid-19 pandemic has significantly affected consumer sales following a slumpin the food & beverage industry. Lockdowns by governments and otherrestrictive policies have changed the textured pea protein market dramatically,as restrictions have adversely disrupted networks (supply chain) of manyplayers. The closing of international borders and the uncertainty created bythe COVID-19 outbreak have impacted the import and export of textured peaprotein.
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