The ‘Global Pea Protein Market Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global pea protein market size, assessing the market on the basis of its segments like type, form, application, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Pea Protein Market Share, Size, Price, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2022): Almost USD 1,683 Million
Forecast CAGR (2023-2028): 19.6%
Forecast Market Size (2028): Around USD 5,086.9 Million
One of the major factors propelling the pea protein market development is the wide adoption of vegan diet around the world. Pea protein is derived from plant-based source making it a great fit for vegan consumers. Additionally, they are non-toxic, non-allergic, and easily digestible and have numerous uses in beverages, meat substitutes, dietary supplements, and bakery goods.
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The growing importance of a flexitarian diet due to growing worries about the cardiological effects of red meat consumption is anticipated to act as a positive factor for pea protein market expansion.
Pea protein has been demonstrated to offer many health advantages, including lowering blood pressure, assisting in weight loss, and enhancing renal function. It is also an easily digestible source of vital amino acids. With the rising awareness about the benefits of pea protein, the market is expected to grow significantly during the forecast period.
Pea Protein Industry Definition and Major Segments
Pea protein is a high-quality protein supplement obtained through yellow and green split peas. Pea protein is easily digestible, and it is a great source of iron, arginine, and branched-chain amino acids. Given that it is vegan and hypoallergenic, it is one of the greatest types of proteins to include in any kind of diet.
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The pea protein market segments, based on type, include:
- Isolate
- Concentrate
- Textured
Based on form, the market can be bifurcated into:
- Dry
- Wet
The market for pea protein, based on application, can be segmented into:
- Functional Food and Beverages
- Sports Nutrition
- Meat Additives
- Bakery and Confectionery
- Others
The regional markets for pea protein include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Pea Protein Market Trends
Manufacturing sustainable and eco-friendly food products and formulations is a major pea protein market trend, encouraging food manufacturers to adopt pea protein as a food additive. Pea protein acts as a sustainable and environment friendly option over traditional animal proteins, which can benefit both consumers and producers as they seek to reduce the impact of food consumption and production on the environment.
Pea protein isolates provide good level of emulsification with non-allergic properties. Because of these qualities, manufacturers in the food and beverage market have begun using these products as nutritious supplements in various bakery goods, energy drinks, fruit mixes, and meat products.
The pea protein market in North America is anticipated to expand at a healthy rate over the forecast period, due to the rising popularity of energy bars, breakfast cereals, and snacks.
The European market is expected to show significant growth during the forecast period owing to the shifting trend towards preventive healthcare, and the rising demand for plant-based protein ingredients from European nations like the U.K. and Germany.
Key Market Players
The major players in the global pea protein market report include Yantai Shuangta Food co., LTD, Shandong Jianyuan Group, Roquette Frères S.A., Cosucra Groupe Warcoing SA, Burcon NutraScience Corporation, Axiom Foods, Inc., and Naturz Organics, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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