The pea protein ingredients market is estimated to be valued at US$ 1.6 Billion in 2023 and is rising to US$ 3.4 Billion by 2033. The sales of pea protein ingredients grow at a CAGR of 7.9% during the forecast period.
Throughout the projection period, there will be a rise in demand for pea protein components due to the growing desire for natural and organic plant-based foods. Market prospects are being driven by consumers’ increasing use of pea protein ingredients as healthier lifestyle choices and superior replacements.
The market is expanding due to the growing demand for pea protein components in end-use industries including nutritional supplements and baked goods and snacks. By improving the quality of food and drink, these sectors increase market shares related to chronic illness, iron deficiency, and other health-related issues.
Trainers and athletes’ growing need for pea protein components to support healthy diets and increased muscle development is driving market share. The need for pea protein components is rising as healthcare producers create protein supplements to enhance weight control, calcium absorption, and blood circulation. Expanding consumer awareness of organic food and clean-label products is also propelling the demand for pea protein components.
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Why are Consumers Shifting Demand Towards Pea Protein Ingredients?
People need to remember their healthy lifestyle routines. Therefore, adopting pea protein ingredients in a meal for a wholesome lifestyle is a beneficial solution. The top manufacturers are providing pea protein ingredients as a beneficial substitute and maintaining nutrients among consumers.
Moreover, consumers are shifting towards pea protein ingredients due to rising allergies to animal-based products during the forecast period. Therefore, the end-user companies are innovating different types of food items such as pasta, cookies, cakes, and others with the adoption of pea protein ingredients.
These hypoallergenic food items are driving the demand for pea protein ingredients in their daily meal and are surging market opportunities. The natural property and growing awareness related to a healthy heart are driving the demand for pea protein ingredients among consumers in recent times.
Key Takeaways:
- The pea protein ingredients market is expected to have a valuation of US$ 3.4 Billion by 2033.
- With a CAGR of 7.9%, the global market is increasing during the forecast period.
- The market in the United States is anticipated to grow at a CAGR of 7.7% through 2033.
- With a CAGR of 7.2%, the U.K. market significantly uplifts during the forecast period.
- The China market is expected to grow at a CAGR of 7.3% over the forecast period.
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Who is Winning?
The key manufacturers and prominent vendors are driving the market expansion by launching excellent products as per consumers’ requirements. These players focus on consumer expectations and develop better substitute products that complete their satisfaction.
Therefore, these players are making various marketing tactics to uplift market growth. These marketing tactics are mergers, agreements, partnerships, and collaborations.
Some of the prominent players in the pea protein ingredients market are:
- A&B Ingredients Inc.
- Nutri Pea Ltd.
- Archer Daniels Midland Company
- Kerry Group P.L.C.
- Cargill Incorporated
- The Scoular Company
- Axiom Foods, Inc.
- Batory Foods
- L.T. Health Solutions
- Prinova Group L.L.C.
- Burcon Nutrascience
- Cosucra Groupe Warcoing
- Glanbia Plc.
- Roquette Frerès SA
- A.G.T. Food & Ingredients, Inc.
- World Food Processing L.L.C.
- Yantai T. Full Biotech Co. Ltd.
- Suzhou Wanshen Flour Products Co. Ltd.
- Shandong Jindu Talin Foods Co. Ltd.
- Others
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Recent Development in the Global Pea Protein Ingredients Market:
In 2020, Beyond Meat announced its partnership with fast food company Starbucks to introduce a new menu in China. Beyond Meat spreads its new food products across all Starbucks locations in China. Their main menus are Beyond Beef Spicy & Sour Wrap, Classic Lasagna and others.
Pea Protein Ingredients Market by Category
By Product Type:
- Isolates
- Concentrates
- Textured
By Application:
- Bakery and Snacks
- Dietary Supplements
- Beverages
- Meat Analog/Substitutes
- Others
By Foam:
- Powder
- Liquid
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa (MEA)
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