Hyderabad, India -- (SBWIRE) -- 02/07/2018 -- The report "Pea Protein Market by Type (concentrated, isolated, textured), by Application (snacks & bakery products, meat extenders, meat substitute, food & beverages, other food application) - Forecast to 2021", The Pea Protein market is expected to reach USD 60.9 Million by 2021 from an estimated USD 40.5 Million in 2016, at a CAGR of 8.5%. Rising popularity for meat alternatives and increasing anxiety towards lactose narrowness among adults together with growing demand for gluten-free products are some of the key factors driving the global pea proteins market over the forecast period.

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By Type, the isolated segment accounted for the largest share of the market in 2016.

On the basis of type, the pea protein market is segmented into concentrated, isolated and textured. In addition, textured pea protein is sub-segmented into wet and dry. In 2016, the isolated segment accounted for the largest share of the Pea Protein Market. It accounted for more than half of the Pea Protein Market share. This is due to several reasons, some of them are: Water binding capacity, high amino acids content, high solubility.
By Application, the Meat substitute accounted for the largest share of the market in 2016

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On the basis of application the market is segmented into snacks & bakery products, meat extenders, meat substitute, food & beverages and other food application. In 2016, the Meat substitutes accounted for the largest share of the global Pea Protein market and is expected to continue the same in the forecast period. Mounting demand for reasonable and ecological vegetarian protein supplement, rising awareness towards using protein supplements, progression in extraction technology and growing obesity rate are also impelling the pea protein market growth.

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North America accounted for the largest share of the Genomics market in 2016, followed by Europe. The large share of the North American Pea Protein market can be attributed to the advancement in technology and increased funding in research towards the Pea Protein Market. Asia Pacific is also showing consistent growth in past few years and is anticipated to grow more in the forecast period.

The various players in the Pea Protein market include A&B Ingredients, Consucra-Groupe Warcoing, Axiom Foods, Inc., Burcon NutraScience Ltd., Roquette Freres and Nutri-Pea Limited.

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