Albany, NY -- (SBWIRE) -- 12/27/2016 -- Pea protein products are protein extracts from the pea plant. They contain high quantities of several crucial nutrients, including amino acids. Due to their protein-rich nature, pea protein products are gaining increasing demand as an alternative to meat or a meat extender. Apart from the high protein content, the agreeable and familiar texture and flavor of pea protein products is responsible for the rising demand from this application. The booming growth of the global food and beverage industry and the rising demand for meat alternatives have thus emerged as crucial drivers for the global pea protein market.

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Increasing Number of Vegetarians Drives Pea Protein Market

One of the most important drivers for the global pea protein market is the increasing preference for vegetarianism from across the world. According to a recent study from Transparency Market Research, the meat substitute application segment of the global pea protein market is expected to exhibit the highest CAGR over the 2016-2023 forecast period.

The number of vegetarians all over the world is increasing not only due to the growing ethical concerns about consuming meat, but also the growing awareness about the adverse environmental effects of large-scale meat production. This is expected to remain a crucial driver for the global pea protein market in the coming years.

Dietary Supplements Remain Largest Application Segment of Pea Protein Market

Despite the growing demand for pea protein as a meat substitute, the largest application segment of pea protein is dietary supplements. The ease of consuming dietary supplements along with one's regular diet, instead of spending time to cook an elaborate meal that incorporates the nutrients organically, is driving the demand for pea protein dietary supplements. The increasing health-consciousness of the global population is thus another major driver for the global pea protein market in the aforementioned forecast period.

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Regionally, North America emerged as the largest market for pea proteins in 2014, with a 35% share, and is likely to remain the largest regional market for pea proteins through the forecast period