From 2023 to 2033, the size of the worldwide pea protein market is anticipated to grow at a CAGR of 7.0%. By the end of 2033, the market share value is anticipated to have increased from US$ 3,959.2 million in the current year 2023 to US$ 7,810.4 million by 2033.
Since more individuals throughout the world have become concerned about their health in recent years, a high-protein diet has become more and more popular. Consumers are forced to look for nutrients in packaged food items due to their increasingly busy lifestyles, which has created a significant market for a range of alternatives, such as pew protein powder.
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The main factors affecting the acceptance of a diet high in pea protein are changes in exercise practises, especially among millennials, and the growth in chronic illnesses brought on by altered lifestyles. The pea protein market is expected to grow as a result of increased customer interest in sports nutrition products as a result of improved awareness of bone and muscle health.
R&D in the pea protein market is projected to be driven by consumers’ changing needs and a rising demand for non-GMO, gluten-free, and hexane-free products, which will boost its expansion. The expense of getting various licences, the features of the finished product, and the manufacturing method all have a considerable impact on the price of organic pea protein, providing intriguing chances for new entrants.
Key Takeaways from the Pea Protein Market Study:
- Pea protein isolate is the most popular product type of this market sector making it the largest segment with a share of more than 50% of total sales
- In 2021, North America accounted for about 44% of global revenue, dominating the pea protein industry worldwide.
- The demand for the textured pea protein in meat processing is expected to expand as a result of the existence of key meat product companies in the U.S., including JBF, Tyson, National Foods, and Cargill.
Competitive Landscape
US, France, Spain, U.K., and Germany, Italy are the major countries driving demand for Pea Protein Market. The name of some of the renowned pea protein market key players are Burcon Nutrascience, Roquette Freres, The Scoular Company, DuPont, Cosucra Groupe Warcoing SA, Nutri-Pea Ltd., Shandong Jianyuan Group, Sotexpro SA, Ingredion, Inc., Axiom Foods, Inc., Fenchem Inc., and Martin & Pleasance.
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FMI, in its new offering, provides an unbiased analysis of Pea Protein Market presenting historical demand data (2017-2022) and forecast statistics for the period from (2022-2032). The study divulges compelling insights on the demand for Pea Protein based on by Nature (Organic, Conventional), Product Type (Protein Concentrates, Protein Isolates, Textured Protein, Hydrolysed Protein), End Use (Food Processing, Animal Feed, Nutraceuticals, Sports Nutrition, Infant Nutrition, Cosmetic and Personal Care), by Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa )
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Pea Protein Market by Category
By Nature:
- Organic
- Conventional
By Product Type:
- Protein Concentrates
- Protein Isolates
- Textured Protein
- Hydrolyzed Protein
By End Use:
- Food Processing
- Meat Alternatives
- Bakery Products
- Confectionery
- Snacks & Cereals
- Meat-Based Products
- Functional Beverages
- Others
- Animal Feed
- Livestock
- Cattle
- Swine
- Poultry
- Pet Food
- Aquafeed
- Livestock
- Nutraceuticals
- Sports Nutrition
- Infant Nutrition
- Cosmetic and Personal Care
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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