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Pea Protein Market Size to Worth Around US$ 511.0 Mn by 2031 | Burcon Nutrascience, Cosucra Groupe Warcoing

07-26-2024 10:54 AM CET | Food & Beverage

Press release from: CMI

Pea Protein Market

Pea Protein Market

Market Overview:

The global pea protein market is projected to reach around US$ 511.0 Millions by the end of 2030, in terms of revenue, growing at a CAGR of 9.1% during the forecast period (2023-2030).

Market Dynamics:

The pea protein market is expected to witness high growth owing to increasing awareness about the various health benefits associated with its consumption such as weight management, muscle gain and disease prevention. Pea protein is a rich source of iron, fiber, and essential amino acids. It is easily digestible and contains less fat in comparison to other plant-based proteins such as soy and wheat. Furthermore, rising vegan and flexitarian population has led to increasing demand for plant-based meat alternatives and dairy products where pea protein is used as the primary ingredient which is another factor driving market growth over the forecast period. Changing consumer lifestyles and preferences towards healthier food options are further boosting market expansion.

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Pea protein market - Volatility in raw material prices

Fluctuations in raw material prices pose a key challenge for the pea protein market. Pea is an agricultural crop and its prices depend on various external factors such as weather conditions, pest attacks etc. Any disruption in pea production and supply can negatively impact pea protein prices. Being an emerging crop for protein extraction, the demand-supply dynamics of yellow peas are yet to stabilize. This exposes pea protein manufacturers and product formulators to price volatility risks. Major weather events like droughts can strain pea supply and lead to sharp price rises. To mitigate this risk, producers focus on developing long term supply contracts with farmers and cultivating alternative crops. However, raw material price volatility continues to be a major restraint for the stable growth of the pea protein market.

Pea protein market - Scope for new product innovation and applications

The opportunity lies in exploring new applications and innovative product formats for pea protein. While it is commonly used in food applications, pea protein manufacturers could leverage its functional benefits for developing new products across other categories like personal care, pet food and nutritional supplements apart from food. For instance, entering the rising plant-based milk market by launching pea protein based milk alternatives. There is also scope for innovating new clean label ready-to-eat food formats using pea protein like protein bars, bites etc. Developing unique flavours to enhance taste and appeal. Continuous research on structure, functionality and new processing techniques can help utilize pea protein in more application areas. This will open up new revenue streams and market expansion opportunities.

Pea protein market - Growth of flexitarian and plant-based food trends

An important trend is the growing popularity of flexitarianism and demand for more plant-based food options. Traditionally, pea protein had found applications in meat alternatives however, the market is expanding to wider plant-based categories like dairy and baked goods. Consumers are cutting down on animal products and switching to healthier plant-based alternatives. This opens up opportunities for ingredient companies to innovate more product formats with pea protein across various categories to meet this demand. Companies are coming up with cleaner label products appealing to both flexitarians as well as vegans & vegetarians. The rising plant-based food trend is encouraging pea protein producers to scale up portfolio and invest in product development. This will continue to fuel market growth globally going forward.

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Top Companies Included in This Report:

★ Burcon Nutrascience
★ Cosucra Groupe Warcoing
★ Nutri Pea Limited
★ Sotexpro
★ Roquette Freres
★ Glanbia Plc.
★ Fenchem Biotek Ltd.
★ Prinova Group LLC
★ Yantai Shuangta Food Co.

Market Segmentation:

By Product Type:

★ By Type: Isolates, Concentrates, and Textured

By Applications:

★ By Application: Bakery and Snacks, Dietary Supplementation, Beverages, and Meat Analogs/Substitutes

Key Regions/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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The report offers insights on the following topics:

Chapter 1: Study Coverage

Chapter 2: Executive Summary

Chapter 3: Competitor Landscape of the Pea Protein Market by Players

Chapter 4: Market Size of the Pea Protein Market by Type and Application

Chapter 5: Global and Regional Analysis

Chapter 6: Company Profiles, Recent Developments, and Investments

Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors

Chapter 8: Analysis of Value Chain and Sales Channels, including notable product developments

Chapter 9: Research Findings and Conclusion

Chapter 10: Methodology/Research Approach

Ultimately, the Pea Protein Market report serves as a reliable source for acquiring market research to significantly enhance your business. It furnishes essential insights into regional economic conditions, product pricing, profitability, capacity, production, supply, demand, market growth rate, and forecasts. Additionally, the report includes a SWOT analysis, investment feasibility analysis, and return on investment analysis for new projects within the Pea Protein industry.

Should the aforementioned report not meet your precise requirements, we offer customized research tailored to comprehensively address your specific business needs. Our customized research will encompass all the pertinent business information necessary to assist you in making strategic and profitable business decisions.

Author Bio:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)

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About Us

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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