South America Pea Protein Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Due to rapid globalization and high disposable incomes, Brazil’s population is paying more attention to health and wellness. Consumers’ consumption pattern has been undergoing transformation with context to lifestyle choices and food consumption patterns. They demand convenience food products, but with rich nutritive profile and health benefits. The Brazilian market is propelled by the demand for sports and nutrition products by athletes, body builders, and recuperating patients. Additionally, the weight-management category is also growing, wherein protein is the main constituent ingredient. Moreover, pea protein is a plant-derived protein and it offers many health benefits, and unlike wheat and soy, it does not lead to many food allergies.

Pea protein is becoming popular among consumers, as protein-fortified product demand is increasing, owing to the allergy-free and GMO-free nature of proteins. The increasing demand for vegan diet among consumers has created an insatiable market demand for meat analogs. Owing to its application in meat analogs, extenders, and substitutes in hamburger, ground meat, stuffing, sausages, vegetarian products, Bolognese sauces, pizza dressing and nuggets, the textured pea protein segment is estimated to record the fastest growth. The nutritional property of meat analogs makes it more beneficial for consumers preferring to consume less meat, owing to the presence of high quantities of cholesterol. With modified technologies, the companies are targeting the consumers by coming up with innovative products with similar organoleptic properties as real meat