The pea protein landscape in South Korea is on the brink of substantial growth, with an expected compound annual growth rate (CAGR) of 12.1% through 2033. With a valuation of approximately US$ 87.0 million in 2023, the market is projected to reach an impressive US$ 271.0 million by the end of the forecast period. This growth is driven by the rising adoption of vegetarian and vegan diets among South Korean consumers, alongside increasing demand for clean-label and natural food products.
As consumers become more health-conscious and environmentally aware, the trend towards plant-based protein sources has gained momentum. Pea protein, recognized for its high nutritional value and versatility, aligns perfectly with the dietary preferences of this growing demographic. Its minimal Competitive Landscape
The competitive landscape of the pea protein industry in South Korea is dynamic and evolving, driven by increasing consumer demand for plant-based protein products and sustainable food options. Several companies are actively participating in this industry, both domestic and international players. The industry is expected to remain competitive in the coming years as companies continue to innovate and develop new products.
Recent Developments Observed in South Korean Pea Protein Industry
- In 2023, CJ CheilJedang announced the launch of its new pea protein product, CJ pea protein isolate. CJ pea protein isolate is a high purity pea protein isolate that is designed for use in a variety of applications, including food and beverage products, dietary supplements, and animal feed.
- In 2023, LG Chem announced the expansion of its production capacity for pea protein at its plant in South Korea. The expansion is expected to meet the growing demand for pea protein in South Korea and other Asian countries.
- In the same year, KGC Ginseng Corporation announced the launch of its new pea protein product, KGC pea protein concentrate. KGC pea protein concentrate is a high-protein pea protein concentrate designed for use in various food and beverage products.
processing and perception as a clean and natural source of protein further enhance its appeal.
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Key players in the South Korean pea protein market are strategically positioning themselves to capitalize on this opportunity. Notable companies include:
- CJ CheilJedang
- LG Chem
- KGC Ginseng Corporation
- Lotte Corporation
- Samsung SDS
- Daesang Corporation
- Ingredion
- Roquette
- Emsland Group
- Nutri-Pea
- Shandong Jianyuan Foods
- Shandong Huatai Food
Key Segments
By Nature:
- Organic
- Conventional
By Product Type:
- Protein Concentrates
- Protein Isolates
- Textured Protein
- Hydrolyzed Protein
By Processing:
- Dry Processing
- Wet Processing
By End Use:
- Food Processing
- Meat Alternatives
- Bakery Products
- Confectionery
- Snacks and 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 Province:
- South Gyeongsang
- North Jeolla
- South Jeolla
- Jeju
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