The yellow pea protein market is predicted to capture a valuation of US$ 3.3 billion in 2023 and is projected to rise to US$ 11.5 billion by 2033. As per the FMI report, the market is likely to register a CAGR of 14.4% during the forecast period.
Food & beverage manufacturers are developing nutrition supplements by increasing the adoption of yellow pea protein, such as energy drinks and smoothies. The rising consumer demand for vegan, high-fiber, clean-label, and non-toxic food products is surging market growth. In addition, growing awareness related to health and rising cardiovascular diseases is rapidly increasing yellow pea protein nutrition.
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Increasing disposable income, urbanization, population, and changing eating habits fuel market opportunities. Manufacturers are developing food & beverage products by adopting advanced technology and adding natural ingredients. In addition to that, it enhanced the shelf-life of food and improved quality by adding vegan ingredients surging the product demand globally. Growing consumer demand for food items such as plant-based milk, vegan burger, milkshakes, and supplements drive the yellow pea protein market.
Social media influencers, athletes, and famous personalities promote top companies’ brands to make people aware customers of healthy diets. The yellow pea protein is the better alternative source that reduces weight and cholesterol and promotes a healthy heart. However, people cannot maintain their healthy lifestyles due to hectic lifestyles. Therefore, plant-based protein producers develop packed supplements to provide proper healthy nutrition to their consumers.
High Cost of Yellow Pea Protein Limits the Market Growth
The market is promoting a healthy lifestyle by increasing the production of plant-based products. However, key manufacturers faced certain roadblocks that declined the market growth, which included the increasing cost of yellow pea protein supplements and Isolates restraining the market growth.
The low availability of plant-based raw materials and alternate substitutes limits the market growth. Moreover, a few consumers suffer from lactose intolerance hinders the market.
Key Takeaways:
- The yellow pea protein market is expected to have a valuation of US$ 11.5 billion by 2033.
- With a CAGR of 14.4%, the global market is increasing during the forecast period.
- The market in the United States is anticipated to capture a CAGR of 8.9% through 2033.
- With a CAGR of 11.6%, the United Kingdom yellow pea protein market significantly uplifts during the forecast period.
- German market is expected to secure a CAGR of 9.8% over the forecast period.
- China market is capturing a CAGR of 13.2% by 2033.
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Who is Winning?
The key players play a vital role in the global market by capturing maximum revenue by investing their amount in research and development activities. In addition, these players are focusing on developing better quality products per consumers’ requirements.
The prominent players innovate plant-based products to promote a healthy lifestyle by adopting several marketing methodologies. Marketing strategies adopted by these players are collaborations, mergers, partnerships, product launches, and acquisitions.
Other Prominent Players in the Market are:
- Cargill Inc.
- DuPont de Nemours, Inc.
- The Scoular Company
- Axiom Foods, Inc.
- Glanbia Ple
- Roquette Frères
- Kerry Group PLC
- Bata Food
- Shandong ianyan Group
- The Green Lab LLC
- Puris Proteins LLC
- Burcon NutraScience Corporation
- Cosucra Groupe Warcoing S.A.
Recent Developments in the Market are:
- In 2018, Axiom Foods announced its new distributor Univar Solutions, to supply goods & services of plant-based ingredients.
- In 2021, Puris Proteins LLC announced a newly launched plant for manufacturing yellow pea protein to upsurge its business in the United States.
- In February 2018, DuPont de Nemours Inc announced its launch of BAIC (Bay Area Innovation Center) to upsurge agricultural biotechnology and technological development.
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Yellow Pea Protein Market by Category
By Product Type:
- Protein Concentrates
- Protein Isolates
- Textured Protein
- Hydrolyzed Protein
Processing Type:
- Dry Processing
- Wet Processing
End Use:
- Food Processing
- Meat Alternatives
- Bakery Products
- Confectionery
- Snacks & Cereals
- Meat-based Products
- Functional Beverages
- Others
- Animal Feed
- Nutraceuticals
- Sports Nutrition
- Infant Nutrition
- Cosmetic & Personal Care
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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