The North America Pea Protein Market would witness market growth of 17.8% CAGR during the forecast period (2020-2026). These products are extracted from plant-based sources, making them suitable for consumers choosing vegan diets. Moreover, they are non-allergic, non-toxic, and simply digestible with broad application power in beverages, meat alternatives, dietary supplements, and bakery items.
The increasing significance of a flexitarian diet due to the growing concerns about cardiological effects regarding consumption of red meat would positively affect the growth of the market. In addition, the demand for the product is supplemented by growing awareness with respect to the harmful effects of foods containing gluten and lactose. The pea protein market will grow significantly due to the rising consumption of sports supplements and nutraceuticals.
Moreover, the product demand is further supplemented by the increasing consumption of protein-fortified functional foods. Rising demand for protein supplementation in food items has caused various product introductions by the food & beverage organizations, which is expected to boost the growth of the market. The increasing awareness regarding protein powder consumption for supporting bone health and muscle developments would also propel the growth of the market during the forecast period.
The US market dominated the North America Meat Substitutes Market by Country in 2019, thereby, achieving a market value of $21,591.2 Thousands by 2026. The Canada market is experiencing a CAGR of 21.6% during (2020 - 2026). Additionally, The Mexico market would witness a CAGR of 20.5% during (2020 - 2026).
Based on Application, the market is segmented into Dietary Supplements, Bakery Goods, Meat Substitutes, Beverage and Other Applications. Based on Product, the market is segmented into Isolates, Concentrates, Textured and Hydrolysate. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: Pea Protein Market in North America is expected to register a CAGR of 17.8% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Glanbia PLC, DuPont de Nemours, Inc., Ingredion, Incorporated, Roquette Freres, The Green Labs LLC, Fenchem Biotek Ltd., A&B Ingredients, Inc., The Scoular Company, Axiom Foods, Inc., and Emsland Group.
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