Pea Protein Market Is Driven by A Rapidly Increasing Demand for Plant-Based Protein Source With A Healthy CAGR Of 12.1% During The Forecast Period Of 2022 To 2030
Research Reports
Jul 12, 2023
Pea Protein Market Insights
According to MRFR analysis, the Pea Protein Market is expected to register a CAGR of 12.1% from 2022to 2030 and hold a value of over USD 3.1 billion by 2030.
The pea protein market refers to the industry that involves the production, distribution, and sale of pea protein as a food ingredient or dietary supplement. Pea protein is derived from yellow peas and is considered a high-quality plant-based protein source. It is rich in essential amino acids, including lysine, arginine, and branched-chain amino acids.
The market is driven by the increasing consumer demand for plant-based protein sources, as pea protein offers several advantages such as being allergen-free, gluten-free, and sustainable. It is also perceived as a healthier and environmentally friendly alternative to animal-based proteins.
The COVID-19 pandemic had significant impacts on the pea protein market. The pandemic highlighted the importance of a healthy and sustainable diet, leading to a surge in demand for plant-based protein sources like pea protein. Consumers sought alternatives to meat products, and pea protein emerged as a popular choice due to its nutritional profile and versatility.
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Regional Analysis
North America is currently the largest region in the pea protein market. The United States and Canada have been witnessing significant growth in the demand for plant-based protein products, including pea protein.
North America has been at the forefront of the plant-based food movement, with a growing number of individuals adopting vegetarian, vegan, and flexitarian diets. Pea protein, as a versatile plant-based protein source, has gained immense popularity among consumers seeking alternatives to animal-based proteins.
There is a strong emphasis on health and wellness in North America, with consumers becoming more aware of the benefits of a balanced diet and seeking protein-rich foods. Pea protein, being a complete protein with a good amino acid profile, aligns with the health-conscious preferences of the population.
Market Segmentation
The Pea Protein Market has been segmented into orbit type and application.
Based on the type, the market has been segmented into concentrate, isolate and textured.
Based on the application, the market has been segmented into dietary supplement, bakery & confectionery goods and meat products & alternative.
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Key Players
Some of the key market players are:
- A&B Ingredients
- Axiom Foods Inc
- Ingredion Corporation
- Cosucra Groupe Warcoing
- GEMEF Industries
- Glanbia Plc
- Green Labs
- Roquette Frères
- AGT Food and Ingredients
- Yantai Shuangta Food Co. Ltd
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Plant Protein Ingredients Market Research Report Information by Source (Soy, Wheat, Pea, Rice, Potato and others), Form (Dry and Liquid), Application [Food & Beverages (Bakery & Confectionery, Dairy & Frozen Desserts, Beverages, Meat Alternatives, Dietary Supplements and others), Pharmaceuticals & Nutraceuticals, Animal Feed and Personal Care] and Region (North America, Europe, Asia-Pacific and RoW) – Forecast till 2027
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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