The pea protein market is experiencing a surge in popularity, driven by the rising demand for plant-based alternatives. Consumers are increasingly seeking healthy, sustainable, and ethical food options, and pea protein fits the bill perfectly.
Market Size and Growth:
The global pea protein market size is projected to reach US$ 1,604.3 million in 2024. It will likely exhibit a compound annual growth rate (CAGR) of 11.4% during the forecast period, with overall pea protein sales totaling US$ 4,723.9 million by 2034.
Factors Driving the Market:
- Plant-Based Protein Trend: Consumers are seeking alternatives to meat protein for various reasons, including health, environment, and animal welfare. Pea protein offers a complete protein source, ideal for vegetarians, vegans, and flexitarians.
- Health and Wellness: Pea protein is linked to several health benefits, including muscle building, weight management, and improved satiety.
- Clean Label Appeal: Pea protein is derived from yellow peas and minimally processed, aligning with the growing consumer preference for natural and clean label products.
- Versatility: Pea protein offers functional properties like emulsification, texture enhancement, and foaming, making it suitable for various food applications.
Market Segments:
- Type: Pea protein isolate is the dominant segment, used in dietary supplements, sports nutrition products, and fortified foods. Textured pea protein is another growing segment due to its ability to mimic meat texture.
- Application: The food and beverage industry is the primary driver, with applications in plant-based meat alternatives, protein bars, and dairy alternatives. The sports nutrition sector is another significant user.
Key Players:
Major players in the pea protein market include Roquette Frères, Cargill, Glanbia, and Kerry. These companies are constantly innovating and expanding their pea protein offerings.
Key Players in the Pea Protein Market Include
- Burcon Nutrascience
- Roquette Freres
- The Scoular Company
- Cosucra Groupe Warcoing SA
- Nutri-Pea Ltd.
- Shandong Jianyuan Group
- Sotexpro SA
- Ingredion, Inc.
- Axiom Foods, Inc.
- Fenchem Inc.
- Martin & Pleasance
The Future of Pea Protein:
With increasing consumer interest in plant-based products, the pea protein market is poised for continued growth. Innovation in pea protein processing and product development will further propel the market forward.
Detailed Market Study: Full Report and Analysis
Pea Protein Market by Category
By Nature:
- Organic
- Conventional
By Product Type:
- Protein Concentrates
- Protein Isolates
- Textured Protein
- Hydrolyzed Protein
By End-use:
- Food Processing
- Meat Alternatives
- Bakery Products
- Confectionery
- Snacks & Cereals
- Meat-based Products
- Functional Beverages
- Others
- Animal Feed
- Livestock
- Cattle
- Swine
- Poultry
- Pet Food
- Aquafeed
- Livestock
- Nutraceuticals
- Sports Nutrition
- Infant Nutrition
- Cosmetic and Personal Care
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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