According to the FMI report, the yellow pea protein market is expected to reach a valuation of USD 3.3 billion in 2023, with projections to reach USD 11.5 billion by 2033, driven by a forecasted CAGR of 14.4%.
Food and beverage manufacturers are increasingly incorporating yellow pea protein into nutrition supplements, including energy drinks and smoothies. This trend is driven by the rising consumer demand for vegan, high-fiber, clean-label, and non-toxic food products, which is fueling market growth. Additionally, growing health awareness and the rise in cardiovascular diseases are contributing to the heightened adoption of yellow pea protein.
Market opportunities in the yellow pea protein sector are driven by increasing disposable income, urbanization, population growth, and shifting dietary preferences. Manufacturers are leveraging advanced technology and natural ingredients to develop food and beverage products, enhancing both shelf-life and quality. This approach includes incorporating vegan ingredients, which has significantly boosted global product demand. The rise in consumer preferences for plant-based milk, vegan burgers, milkshakes, and supplements is further propelling growth in the yellow pea protein market.
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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Competitive Landscape
Prominent players in the market are consolidating their positions by establishing direct relationships with farmers to streamline costs. They are innovating vegan-based products in response to consumer demand and introducing high-quality plant-based offerings to capture consumer interest.
These key players are heavily investing in research and development to enhance their global market presence. Additionally, they are employing various marketing strategies such as partnerships, mergers, collaborations, agreements, and new product launches to expand their market reach and achieve optimal outcomes.
Recent Developments in the Market are
- Cargill and Puris Protein LLC, a food producer, launched its new product based on yellow pea protein for functional drinks, nutraceuticals, and dietary supplements.
- In 2021, Puris Proteins LLC announced its new manufacturing plant to expand its business in yellow pea protein in the United States.
Key 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
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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 Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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