The report forecasts the global pea protein market to grow at a CAGR of 8.83% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A major trend which will boost market growth is the use of pea proteins as an alternative protein source in pet foods. Being versatile and palatable, pea protein and fiber products have replaced beet pulp, wheat, corn, and other cheap fillers in pet food formulas. Pea fiber is light colored and odorless can be used with both wet and dry ingredients; it binds water and fat and is used as a thickener in wet food. Pea starch meal can partially or totally replace carbohydrate sources like cereals, whole peas, and potato starches. With an excellent chemical profile, pea protein is a healthy, natural, and hypoallergenic protein and starch source for pet nutrition.
According to the report, a key growth driver is the demand for high protein products. Pea protein has a protein content of 85%, which is significantly higher than other vegetable proteins. With protein levels comparable to that of animal sources, it adequately meets the nutritional needs of the vegetarian and vegan populations. Pea protein and other plant proteins like rice and wheat have complementary amino acid profiles, and when combined, they offer enhanced nutritional benefits. It has an excellent profile of essential and non-essential amino acids like lysine and glutamine.
Further, the report states that one challenge that could restrict market growth is the issue surrounding the formulation and usage of pea protein in products.
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