Pea Protein Market Overview
According to Maximize Market Research, a renowned global business research and consultancy firm, the total global market for the "Pea Protein Market" was valued at USD 565.86 in 2022. The market is projected to grow at a Compound Annual Growth Rate (CAGR) of 14.47 percent during the forecast period. By 2029, it is estimated to reach a total market value of USD 1457.33. This growth is attributed to various factors such as technological advancements, increasing demand for the product/service, expanding market penetration, and favourable industry trends.
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Pea Protein Market Dynamics
The world is getting health-conscious, and the demand for healthy food supplements is on the rise. Issues like obesity, diabetes, and allergies have made consumers more aware of what goes into their food. Pea protein fits the bill perfectly – it's non-GMO and gluten-free, making it a star in the clean-label food category. With a growing desire for vegan, organic, and gluten-free products, pea protein is seeing a boost in demand.
The pea protein market isn't without its challenges, though. Limited processing capacity has caused supply constraints. But the industry is ramping up its efforts, with companies like Roquette and Archer Daniels Midland investing heavily in expansion. Additionally, pea starch, which makes up 60% of pea volume but is often underutilized, is the key to economic viability in pea protein production.
Pea Protein Market Regional Insights
In 2022, North America dominated the global pea protein market, accounting for more than 45% of global sales. The region's growth is driven by the rising demand for gluten-free products, health-consciousness, and the flourishing sports nutrition industry.
Asia Pacific is the fastest-growing market, with increasing consumption of nutrient-fortified functional foods and rising demand for meat replacements. Favorable regulatory dispositions in India and China are ensuring an adequate supply of raw materials for manufacturers. The food and beverage industry in China is expanding, thanks to improved raw material access and increasing domestic consumption.
Pea Protein Market Segmentation
by Form
Dry
Wet
by Application
Meat substitutes
Performance nutrition
Functional foods
Snacks
Beverages
The applications of pea protein are as diverse as its benefits. It finds its way into meat substitutes, performance nutrition, functional foods, snacks, beverages, bakery products, and confectionery. Meat substitutes, in particular, are seeing a surge, thanks to the demand for plant-based products and the versatility of pea protein in creating burger patties and minced beef.
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Pea Protein Market Key Players
1. Cosucra Groupe Warcoing
2. Nutri Pea Limited
3. Sotexpro
4. Roquette Freres
5. Glanbia Plc
6. Fenchem Biotek Ltd.
7. Prinova Group LLC
8. Yantai Shuangta Food Co.
9. Burcon Nutrascience
10.AGT Food & Ingredients, Inc.
11.World Food Processing L.L.C.
12.Puris Foods
13.Ingredeion Inc.
14.Emsland Group
15.DuPont
16.The Scoular Company
17.A&B Ingredients.
18.Axiom Foods
19.Shandong Jianyuan group
20.Kerry Inc.
21.Batory Foods
22.The Green Labs LLC.
Table of content for the Pea Protein Market includes:
Part 01: Executive Summary
Part 02: Scope of the Pea Protein Market Report
Part 03: Global Pea Protein Market Landscape
Part 04: Global Pea Protein Market Sizing
Part 05: Global Pea Protein Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
Key questions answered in the Pea Protein Market are:
- What is Pea Protein ?
- What was the Pea Protein market size in 2022?
- What are the different segments of the Pea Protein Market?
- What growth strategies are the players considering to increase their presence in Pea Protein ?
- What are the upcoming industry applications and trends for the Pea Protein Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Pea Protein Market?
- Who are the key players in the Pea Protein market?
- What major challenges could the Pea Protein Market face in the future?
- What segments are covered in the Pea Protein Market?
- Who are the leading companies and what are their portfolios in Pea Protein Market?
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