Press release
Pea Protein Isolate Market Worth $542.9 Million by 2029
Pea Protein Isolate Market
According to this latest publication from Meticulous Research®, in terms of value, the global pea protein isolate market is expected to grow at a CAGR of 16.4% from 2022 to 2029 to reach $542.9 million by 2029. In terms of volume, the global pea protein isolate market is expected to grow at a CAGR of 13.8% from 2022 to 2029 to reach 135.2 thousand MT by 2029. This market is driven by the rising awareness about plant-based nutrition, increasing importance of organic ingredients in the F&B sector, increasing plant-based food market, and rising consumer awareness regarding nutritional benefits offered by pea. Additionally, emerging markets provide significant growth opportunities for plant-based product manufacturers. However, a significant preference for animal-based protein hinders the growth of the global pea protein isolate market to some extent.
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The global pea protein isolate market study presents historical market data in terms of value (2020 and 2021), estimated current data (2022), and forecasts for 2029. The market is segmented based on source, source process, processing method, form, application, and geography. The study also evaluates industry competitors and analyses the market at a country level.
Based on source, the global pea protein isolate market is mainly segmented into yellow peas and green peas. The yellow peas segment is estimated to account for the largest share of the overall pea protein isolate market in 2022. The leading position of this segment is mainly attributed to its high protein content and benefits such as digestive system regulation, cholesterol control, blood sugar control, better maintenance of healthy body weight, and promote gut health. This segment is also expected to grow at the highest CAGR during the forecast period due to its versatility in various applications in the food & beverage industry, especially as alternative meat products.
Based on source process, the global pea protein isolate market is mainly segmented into conventional pea protein isolate and organic pea protein isolate. The conventional pea protein isolate segment is estimated to account for the largest share of the overall pea protein isolate market in 2022. The leading position of this segment is mainly attributed to factors such as the lower price of conventionally grown peas than organic peas, their longer shelf life, and the availability of substantial crop varieties. However, the organic pea protein isolate segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to growing organic product sales statistics, the rising trend of clean label products, and the increasing number of certified organic pea-producing farms.
Based on processing method, the global pea protein isolate market is mainly segmented into dry processing and wet processing. The dry processing segment is estimated to account for the largest share of the overall pea protein isolate market in 2022. The large share of this segment is mainly attributed to low capital requirement, reduced water & energy consumption compared to wet extraction, and the high demand from food & beverage manufacturers. However, the wet processing segment is expected to grow at the highest CAGR during the forecast period as this process enables higher protein content and purity than the dry processing method.
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Based on form, the global pea protein isolate market is mainly segmented into powder and liquid. The powder segment is estimated to account for the largest share of the overall pea protein isolate market in 2022. The leading position of this segment is mainly attributed to the higher demand for solid protein ingredients due to the ease of handling & transportation, cost-effectiveness, and the ability to avoid costly formulation errors and maintain the stability of the ingredients. However, the liquid segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to its growing demand from the dairy alternative industry and increasing applications in innovative products.
Based on application, the global pea protein isolate market is mainly segmented into nutrition & health supplements, meat & alternative meat products, bakery products, dairy & dairy alternatives, cereals & snacks, beverages, and others. The nutrition & health supplements segment is estimated to account for the largest share of the overall pea protein isolate market in 2022. The leading position of this segment is mainly attributed to factors such as the rising incidences of diseases due to improper nutrition, the benefits of pea protein in additional nutrition and sports performance products, and growing health and wellness trends. However, the meat & alternative meat products segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to growing veganism, the increasing launches of new products, and the rising incidences of meat-borne diseases.
Geographically, North America is estimated to account for the largest share of the overall pea protein isolate market in 2022. The large share of this region is primarily attributed to the well-established food & beverage industry, the rising concerns over animal products and protein, the increasing vegan population, the growing preference for meat alternatives, the increasing demand for healthy & nutritional products, and the large presence of pea protein manufacturers in North America. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The rapid growth of this region is mainly attributed to the growing awareness regarding the importance of protein-rich diets and increasing health consciousness amongst the general population, the booming food & beverage industry, the large vegan population, and the increasing number of pea protein-based product launches.
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Key Players:
The key players operating in the global pea protein isolate market are Roquette Frères Le Romain (France), AGT Food and Ingredients Inc. (Canada), Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), Archer-Daniels-Midland Company (U.S.), E.I. Dupont De Nemours and Company (U.S.), Glanbia Plc. (Ireland), Cosucra Groupe Warcoing SA (Belgium), Farbest Brands (U.S.), Shandong Jianyuan Foods Co., Ltd. (China), The Emsland Group (Germany), and Nutri-Pea Ltd. (Canada).
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