Press release
Planting the Seeds of Growth: Navigating the Global Surge in Pea Protein Market
With a market size of US$ 1.11 billion in 2021, the global pea protein market is poised for remarkable growth, projecting a substantial leap to US$ 3 billion by 2030. Fueled by a compound annual growth rate (CAGR) of 11.1%, this surge is driven by factors such as health consciousness, the rise of plant-based preferences, and the versatile nutritional benefits offered by pea protein.
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Impact of the Pandemic:
Contrary to many industries, the COVID-19 pandemic acted as a catalyst for the pea protein market. The heightened focus on health during the pandemic led to increased protein intake, further amplified by online channels offering cost-effective pea protein products. This unforeseen consequence contributed positively to the overall market growth.
Factors Propelling the Market:
Plant-Based Paradigm:
The global shift towards plant-based products, fueled by increasing health consciousness, propels pea protein into the spotlight. Plant-based alternatives are replacing traditional meat products, fostering a wave of innovation in the food industry. Notable introductions by major restaurants underscore the market's potential.
Innovation in Food Technology:
Food tech companies are at the forefront of optimizing pea protein extraction and utilization. This innovation, aimed at enticing plant-based meat manufacturers, focuses on maximizing protein yield from raw materials. As a result, the pea protein market is set to benefit from ongoing advancements in food technology.
Regional Dynamics:
North America's Gluten-Free Embrace:
North America emerges as a potential hotbed for pea protein market growth. The region's increasing demand for gluten-free products and heightened concerns about cardiovascular diseases drive the demand for pea protein.
Asia-Pacific's Nutrient-Fortified Ascendancy:
The Asia-Pacific region is poised for significant growth, buoyed by the consumption of nutrient-fortified functional foods. A rising demand for meat replacements and allergen-friendly sports and fitness supplements further positions the region as a key player in the pea protein market.
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Market Guardians:
A&B Ingredients
Axiom Foods Inc
Ingredion Corporation
Cosucra Groupe Warcoing
GEMEF Industries
Glanbia Plc
Green Labs
Roquette Frres
AGT Food and Ingredients
Yantai Shuangta Food Co. Ltd.
Other Prominent Players
Market Segmentation:
Type:
Concentrate
Isolate
Textured
Source:
Yellow Split Pea
Chickpea
Lentils
Application:
Bakery & Confectionery Goods
Meat Products & Alternatives
Beverage
Others
Region:
North America
The U.S.
Canada
Mexico
Europe
Western Europe
Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
South America
Brazil
Argentina
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Conclusion:
As health-conscious consumers increasingly turn to plant-based alternatives, the pea protein market stands as a key player in shaping the future of nutrition. The market's trajectory, accentuated by regional dynamics and technological innovations, positions it as a driving force in the evolving landscape of protein consumption. "Planting the Seeds of Growth" aptly captures the essence of the pea protein market's journey, as it transforms dietary preferences and redefines the future of sustainable nutrition.
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