Pea Protein Market Growth or Demand Increase or Decrease for what contains?
The Pea Protein Market is witnessing significant growth due to rising consumer demand for plant-based protein sources. This surge is driven by increasing awareness of health benefits associated with plant-based diets, growing vegan and vegetarian populations, and heightened interest in sustainable and environmentally friendly food sources. Additionally, pea protein is gaining popularity in the food and beverage industry as a versatile ingredient used in various products such as meat alternatives, dairy substitutes, nutritional supplements, and bakery goods. The market is also benefiting from technological advancements in pea protein extraction and processing, improving its taste, texture, and nutritional profile. This positive trend indicates a robust demand increase in the pea protein market, projecting continued expansion in the coming years.
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Pea Protein Market CAGR Estimation:
The size of the pea protein market was estimated to be worth USD 592.95 million in 2023. From 2024 to 2030, the market's total revenue is projected to increase at a compound annual growth rate (CAGR) of 12.02%, or close to USD 1312.05 million.
Pea Protein Market Segmentation:
by Type
Isolates
Concentrates
Textured
With over 58% of the entire revenue generated by the pea protein market, the isolates segment held the lion's share of the market in 2023. The yellow pea protein isolate, which is generally obtained from peas grown in North America or Europe, is the main focus of the isolates segment, which frequently makes up the greatest portion. To produce protein from pea isolate, the outer shell of the pea is typically removed in accordance with standard food industry processes before the pea is ground into flour. The other ingredients, such as fiber and starch, are removed by a second filtration procedure. This leaves behind a white precipitate, which is then distilled to create pea protein isolate, which is then used to make protein powder. Notably, the industrial manufacturing procedure used to produce pea protein isolate sets it unique from conventional pea protein.
by Source
Split yellow peas
Lentils
Chickpeas
by Application
Meat substitutes
Performance nutrition
Functional foods
Snacks
Beverages
by Form
Dry
Wet
The wet segment held the biggest market share for pea protein in 2023 and is predicted to expand at the fastest rate of compound annual growth (CAGR) from 2024 to 2029. Wet pea protein is used in baked foods, meat products, and confections as a texturizing agent. Wet pea protein's fibrous nature is also anticipated to encourage its integration into fruit juice blends and energy supplements.
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Pea Protein Market Overview:
The Maximize Market Research report assists clients in gaining a comprehensive understanding of the competitive landscape, serving as a valuable resource for strategic planning purposes. The comprehensive Pea Protein market overview furnishes extensive information regarding market size, trade statistics, prominent participants, and a range of market indicators, encompassing aspects such as life cycle, prevailing trends, and more.
Pea Protein Market Growth or Demand in which regions??
The Pea Protein Market is experiencing robust growth across several regions, with North America and Europe leading the charge. In North America, the demand is driven by a growing health-conscious population and a significant rise in the adoption of plant-based diets. The United States, in particular, is seeing increased use of pea protein in various food and beverage products, including meat substitutes and dairy alternatives. Europe is also witnessing substantial growth, fueled by stringent regulations on animal-based products and a strong shift towards veganism and vegetarianism. Countries like Germany, the UK, and France are at the forefront of this trend. Additionally, the Asia-Pacific region is emerging as a lucrative market, with increasing urbanization, rising disposable incomes, and a growing awareness of plant-based nutrition contributing to the demand. Markets in China, India, and Australia are particularly noteworthy. Latin America and the Middle East & Africa are also showing promising growth potential due to evolving dietary preferences and expanding food processing industries.
Pea Protein Market Scope & Methodology:
The competitive landscape of the Pea Protein market encompasses aspects like technology adoption, financial strength, portfolio, mergers and acquisitions, joint ventures, and strategic alliances. A comprehensive report delves into the drivers, limitations, opportunities, and challenges inherent in the Pea Protein market. The report employed a bottom-up approach to ascertain Pea Protein market estimations and growth rates.
To gain insights into Pea Protein market penetration, pricing dynamics, demand analysis, and competitive panorama, the report executed regional analysis at local, regional, and global levels. Essential details about the Pea Protein market, including stakeholders, investors, and new entrants, are presented to facilitate the development of marketing strategies and investment plans.
Both primary and secondary data gathering techniques were employed for the Pea Protein Market. Primary approaches involved surveys, questionnaires, and interviews with industry leaders and business proprietors, while secondary data encompassed sources like press releases, annual and financial reports, white papers, etc. SWOT analysis was leveraged to pinpoint market vulnerabilities and weaknesses, while the PORTER framework was applied to gauge industry competitiveness within the Pea Protein Market.
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Pea Protein Market Key Players:
Major Pea Protein Providers in North America:
1. DuPont (United States)
2. Ingredion (United States)
3. Puris (United States)
4. The Scoular Company (United States)
5. Burcon (Canada)
6. AGT Food and Ingredients (Canada)
7. The Green Labs LLC. (United States)
8. Axiom Foods, Inc. (United States)
9. Farbest Brands (United States)
Leading Pea Protein Manufacturers in Europe:
1. Roquette Frères (France)
2. Cosucra Groupe Warcoing SA (Belgium)
3. Cosucra (Belgium)
4. Sotexpro (France)
5. Emsland Group (Germany)
6. Glanbia PLC (Ireland)
7. Kerry (Ireland)
Key Players of Pea Protein Market in APAC:
1. Yantai Shuangta Foods Co., Ltd (China)
2. Shandong Jianyuan Group (China)
3. ET-Chem (China)
4. Shandong Xiangchi Jianyuan Bio-Tech Co., Ltd. (China)
5. Fenchem Biotek Ltd. (China)
6. Shandong Huatai Food (China)
7. Shuangta Food (China)
8. Shandong Oriental Herbest Bio-Tech Co., Ltd. (China)
9. Fencol Corporation (China)
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Key questions answered in the Pea Protein Market are:
- What is Pea Protein?
- What is the growth rate of the Pea Protein Market?
- Which are the factors expected to drive the Pea Protein market growth?
- What are the different segments of the Pea Protein Market?
- What are the factors restraining the growth of the Pea Protein Market?
- What is the demand pattern of the Pea Protein Market?
- What major challenges could the Pea Protein Market face in the future?
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Key Offerings:
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size & Forecast by different segment |
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
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