Between 2020 and 2030, the global pea Fiber market is expected to grow at a CAGR of almost 8%, owing to increased demand for meat alternative goods in established regions such as North America and Europe. A increase in the gluten-free population has also boosted demand for dietary Fiber products on the market. Pea Fiber has emerged as an important pea Fiber product in the pet food business, particularly in dog food. The COVID-19 pandemic is expected to have a minor impact because key manufacturers have sufficient supplies on hand, making it easier to meet market demand.
Pea protein has seen a spike in popularity in recent years due to its high amino acid concentration. As a result, the linked pea Fiber market has a very favourable environment for growth. As a byproduct, three parts of pea Fiber are created for every five parts of pea protein produced. This is normally wasted, so pea Fiber makers can get it at a very low price. Fact. Given the modest capital expenditure required to set up additional infrastructure to extract pea Fiber, leading companies in the pea protein market are expanding into this category, according to Fact.MR’s latest analysis.
Pea Fiber Market Competitors Insights
The pea Fiber market is fragmented, with the top competitors controlling roughly 60% of the market. Established industry players are concentrating their efforts on acquiring smaller businesses. Furthermore, the main competitors in the pea Fiber market are concentrating on bolstering their market positions by extending their processing capacities. COSUCRA has invested almost US $103 million in its pea processing factory since 2018, with the goal of increasing revenue by nearly 50% by 2024. In 2019, the company will open its second facility in Europe, with an expenditure of about US $65 million. Similarly, Cargill Inc. invested about $75 million in its joint venture with PURIS in 2019 to increase the plant’s output capacity.
Pea Fiber Market: Key Takeaways
- Animal feed is the most common application for pea Fiber, according to Fact.MR, and it is expected to continue growing at a rapid rate over the next decade.
- Organic pea Fiber is thought to be mostly employed in the food industry as an ingredient in high-end organic foods.
- Pea Fiber is frequently used in vegan foods and is the ideal Fiber for lactose-intolerant consumers.
- End-use businesses are looking for non-GMO and HACCP certified pea Fiber, according to MR, to ensure regulatory compliance.
- Canada is the world’s leading pea grower. Furthermore, North America has a large vegan population, making it a potential market for pea Fiber, particularly inner hull pea Fiber.
- In the not-too-distant future, Russia is expected to become the world’s leading pea grower. This, combined with the high density of food makers and the population’s proclivity for all-natural foods, places it as a high-growth market in the second half of the market.
“It’s only recently that pea Fiber has been used in beverages like carbonated drinks. According to the Fact, “this has generated a new revenue stream for the pea Fiber business, which is likely to develop as its penetration increases in this application area.” says Fact.MR analyst
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