(MENAFN- Ameliorate Digital Consultancy)
The global pea fiber market is poised to expand at a CAGR of nearly 8% between 2020 and 2030, attributed to rising demand for meat substitute products in established markets such as North America and Europe. Additionally, a rise in the gluten-free cohort has augmented demand of dietary fiber products in the market. Pea fiber in the pet food industry, notably pea fiber in dog food has been emerging as a significant pea fiber product. The COVID-19 pandemic is poised to have a negligible impact as key manufacturers have adequate inventory at their disposal, thus making it easier to cater to market demand.
The comprehensive market study on pea fibre focuses on the macroeconomic and microeconomic factors that support market growth. The regulatory environment that is influencing the future of the global market is another major focus of the report. Additionally, the research report takes into account the global market's upcoming investment opportunities, emerging application areas, and pricing structure.
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Competitive Landscape The pea fiber market is partially fragmented with top players accounting for nearly 60% of the market. Established players in the market are focusing on the acquisition of smaller companies. Moreover, the top players of the pea fiber market are focusing on strengthening their position in the market by expanding their processing capacities. Since 2018, COSUCRA has invested nearly US $103 Mn . in its pea processing plant and is focusing on raising revenue by nearly 50% by 2024. With an investment of nearly US $65 Mn in 2019, the company is opening its second facility in Europe. Similarly in 2019, Cargill Inc., invested nearly US $75 Mn . in its joint venture with PURIS to double the production capacity of the plant. Request For Customization- .
Impact of COVID-19, on Pea Fiber
The impact of COVID–19 on pea fiber has been significant. The pandemic has caused a disruption in the supply chain, resulting in a decrease in the availability of pea fiber. This has led to an increase in prices for pea fiber, making it more difficult for manufacturers to source the ingredient. Additionally, the pandemic has caused a decrease in demand for food products containing pea fiber, as consumers are more focused on purchasing essential items. This has further impacted the availability and cost of pea fiber.
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Pea fiber market: Segmentation
FactMR's study has done the segmentation of pea fiber market on the basis of type, source, application, and grade across 6 regions.
By Type : By Source : By Application : Bakery Vegan Meat Substitute Soups & Sauces Beverages Animal Foods Other Application
By Grade : By Regions : North America Latin America Europe East Asia South Asia and Oceania MEA
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