Discover the investment potential as the pea protein ingredients market is projected to skyrocket from US$ 1.6 billion in 2023 to an impressive US$ 3.4 billion by 2033, boasting a substantial 7.9% CAGR. Uncover the driving forces behind this surge, including the increasing consumer preference for healthy and natural foods, expansion in end-use industries, and the rising popularity of plant-based and vegan foods. Explore opportunities arising from the demand to address chronic diseases like high blood pressure and diabetes, with sports players also fueling market growth.
Dive into a comprehensive comparative analysis of adjacent markets, highlighting the pea protein ingredients sector’s promising trends and opportunities compared to the plant-based protein and vegan food markets. Investors, seize the potential in isolates, the dominant product category, with a CAGR of 7.8%, and understand why the powder form is highly preferred, holding a significant 7.6% CAGR. Witness the bakery industry propelling sales, offering a 9.9% CAGR and reaching a valuation of US$ 341.1 million in 2021.
The increasing demand for pea protein ingredients for healthy nutrients and built muscle mass by trainers and sports players are driving market share. Healthcare manufacturers develop protein supplements to improve blood circulation, calcium absorption, and weight management, increasing the demand for pea protein ingredients. Rising consumer awareness towards clean-label products and organic food is further driving the pea protein ingredients market expansion.
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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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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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