Growth Projections and Factors Driving the Global Pea Protein Market

The global pea protein market, as per the report titled "Pea Protein Market by Type, Form, Source, Application, and Region - Global Forecast to 2027," is anticipated to witness substantial growth, with an estimated value of USD 1.7 billion in 2022 and a projected CAGR of 11.9%, reaching USD 2.9 billion by 2027. Notably, North America is expected to dominate the market both in terms of volume and value during the forecast period. The surge in the adoption of vegan lifestyles, coupled with the increasing awareness of the nutritional benefits and functionalities of pea proteins, is anticipated to fuel the market's expansion.

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Insights into Market Dynamics:

The report highlights that the pea protein isolate segment is expected to exhibit the fastest growth, owing to the increasing adoption of these isolates and their high protein content in various applications such as plant-based meats, snack bars, and vegan protein powder.

Furthermore, the food segment is projected to hold the largest market share, mainly driven by the growing demand for meat substitutes, which has led to the incorporation of pea protein in plant-based burger patties, sausages, and other meat alternatives. Additionally, the demand for pea protein in performance nutrition, functional foods, snacks, and bakery products is also contributing significantly to this segment's dominance.

Regarding sources, the use of yellow split peas is expected to capture the largest market share, attributed to their functionality and adaptability in various product types, including plant-based meat, beverages, functional foods, and performance nutrition. Their high protein content and favorable amino acid profile have positioned them as preferred alternatives to dairy and meat-based products.

The market analysis indicates that the dry form of pea protein is expected to maintain its dominance over the wet form, primarily due to its diverse applications, including plant-based meat, nutritional supplements, fitness shakes, and smoothies.

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Regional Landscape:

North America is forecasted to retain its position as the largest market, driven by factors such as an increasing vegan population, growing demand for health and wellness products, rising awareness of sustainable lifestyles, and a notable consumption trend of processed meat products.

The comprehensive study comprising 354 market data tables and 82 figures spread across 318 pages, along with an in-depth table of contents, provides a detailed understanding of the trends and dynamics shaping the pea protein market.

To access the full report and explore the detailed table of contents, visit: https://www.marketsandmarkets.com/Market-Reports/pea-protein-market-36916504.html

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