The recent past has seen a surge in interest in pea protein, given its high amino acid content. This, in turn, creates a highly conducive environment for growth of the associated pea fiber market. For every five parts of pea protein produced, three parts of pea fiber are produced as a byproduct. This is usually discarded, and hence, is procured by pea fiber producers at very low costs. Fact.MR in its newest report states that major players in the pea protein market are venturing into this segment, given the low capital investment in setting up complementary infrastructure to extract pea fiber. This highly favorable growth of the pea protein creates a highly conducive environment for the associated pea fiber market, which is expected to exhibit a promising CAGR of ~8% during the forecast period (2019-2029).
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Key Takeaways of the Pea Fiber Market
- According to Fact.MR, animal feed is the leading application for pea fiber and is expected to continue along the high growth trajectory over the following decade
- Organic pea fiber is estimated to be predominantly used in food sector, as an additive in premium organic food
- Pea fiber is also used in vegan food products and is the perfect fiber of choice for products directed at lactose-intolerant consumers
- Fact.MR notes that pea fiber with non-GMO and HACCP certifications are highly sought after by end-use industries to ensure regulatory compliance
- Canada is the world’s largest producer of pea. Moreover, North America has a high density of vegans, making it a highly lucrative market for pea fiber, especially for inner hull pea fiber
- Russia is projected to emerge as the largest producer of pea in the not-so-distant future. This, along with the high density of food manufacturers and propensity of the populace towards adopting all natural food products, positions it as a high growth market towards the latter half of the market.
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FactMR’s study has done the segmentation of pea fiber market on the basis of type, source, application, and grade across 6 regions.
|Type||Inner FiberOuter Fiber|
|Application||BakeryVegan Meat SubstituteSoups & SaucesBeveragesAnimal FoodsOther Application|
|Grade||Food GradeFeed Grade|
|Regions||North AmericaLatin AmericaEuropeEast AsiaSouth Asia and OceaniaMEA|
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