Pea Protein Market Projected to Surge, Anticipated Worth of $1.14 Billion by 2029

Meticulous Research® Unveils Insights: Pea Protein Market Poised to Reach $1.14 Billion by 2029
Meticulous Research®, a premier provider of market intelligence, today released its latest research report titled "Pea Protein Market Worth $1.14 Billion By 2029", offering comprehensive insights into the burgeoning pea protein market landscape.

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According to the findings of this meticulous study, the pea protein market is anticipated to exhibit a robust CAGR of 15.7% from 2022 to 2029, reaching a staggering valuation of $1.14 billion by the end of the forecast period. In terms of volume, the global pea protein market is poised to grow at a CAGR of 12.7%, surging to 4.68 million tons by 2029.

Driving Forces Behind Market Growth:

The market growth is propelled by several factors, including:
-Rising interest in plant-based nutrition
-Growing health and wellness trends
-Increasing plant-based food market
-Heightened consumer awareness regarding the nutritional benefits of pea and pea-based products
-Accelerated focus of key market players on innovative pea protein ingredients development.

Emerging Opportunities and Challenges:
While growth opportunities abound in emerging markets and with the increasing launch of pea protein-based products, the market faces challenges such as a significant preference for animal-based protein and consumer favoritism towards other plant proteins over pea protein.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/pea-protein-market-5054

Market Segmentation and Analysis:

The comprehensive report segments the market based on type, source, source process, processing method, form, application, and geography. Highlights of the segmentation include:

Type: Pea protein isolates, concentrates, textured pea protein, hydrolysate, pea flour, and other pea proteins.

Source: Yellow and green pea.
Source Process: Organic and conventional pea protein.
Processing Method: Dry and wet processing.
Form: Dry and liquid.

Application: Nutrition and health supplements, meat and alternative meat products, bakery products, dairy and dairy alternatives, cereals and snacks, beverages, pet food, and others.

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Geographical Insights:
North America is expected to dominate the market, driven by factors such as a well-established food and beverage industry, increasing concerns over animal products, and a large presence of pea protein manufacturers. However, the Asia-Pacific region is poised to witness the highest growth rate during the forecast period, fueled by increasing health consciousness, a burgeoning food & beverages industry, and rising urbanization.

Key Players in the Market:

Leading players in the global pea protein market landscape include Roquette Freres Le Romarin (France), AGT Food and Ingredients Inc. (Canada), Cargill, Incorporated (U.S.), Ingredion Inc. (U.S.), Archer Daniels Midland Company (U.S.), and more.

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This release was published on openPR.