Pea Protein Market Projected to Reach US$ 7,810.4 Million by 2033, Exhibiting a Robust CAGR of 7.0%

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.

A high-protein diet has grown in popularity as people all over the world have become more concerned with their health in recent years. Due to consumers' increasingly hectic lifestyles, they are compelled to hunt for nutrients in packaged food items, which has generated a sizable market for a variety of alternatives, such as pew protein powder.

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The increase of chronic illnesses brought on by altered lifestyles and changes in exercise habits, particularly among millennials, are the key factors influencing the acceptability of a diet high in pea protein. Due to growing consumer interest in sports nutrition products as a consequence of better knowledge of bone and muscle health, the pea protein market is anticipated to expand.

Consumers' evolving needs and a rising demand for non-GMO, gluten-free, and hexane-free goods are expected to fuel R&D in the pea protein market, which will support its expansion. The price of organic pea protein is significantly influenced by the cost of obtaining numerous licences, the characteristics of the finished product, and the manufacturing process, offering exciting opportunities 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
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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This release was published on openPR.