Pea Protein Market Report, Stakeholders Opportunities, Segmentation, Dimensions, Industry Research Developments, Predictions and Future Demands Globally 2024-2032

The pea protein market size is projected to be valued at USD 2,244.15 million in 2023 and is expected to rise to USD 6,650.63 million by 2032. The market is expected to register a CAGR of 12.8% during the forecast period from 2024 to 2032. Various factors propelling the demand for pea protein include:

The growing vegan community in Europe countries, fueled mostly by environmental and health concerns, is expected to drive market expansion.
Health worries about the high fat and cholesterol content of meat, which can lead to heart disease and cancer, are contributing to the growing popularity of vegan diets.
The increased emphasis on a flexitarian diet, prompted by worries about the cardiovascular effects of red meat intake, is expected to boost market growth.

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What Are Pea Proteins?

Yellow field peas are the source of pea protein, a lactose-containing plant protein. The types of pea protein that are sold in the market are textured pea protein, pea protein isolate, and pea protein concentrate. For those who cannot tolerate lactose, pea protein is an essential substitute source of protein. Products made from pea protein are used in place of other protein sources that can trigger allergic responses in certain people, like soy, almonds, and peanuts. Pea protein provides essential amino acids and a high protein content. It leads to several health benefits, such as improved calcium absorption and circulation, muscle preservation, elevated metabolism, and blood sugar regulation.

Top Companies:

The industry is marked by fierce competition, and the leading companies rely on cutting-edge technology, superior goods, and a strong brand identity to boost sales. Some of the leading companies in the pea protein market are:

Axiom Foods, Inc.
Burcon Nutrascience
Cosucra Groupe Warcoing SA
DuPont
Fenchem, Inc.
Ingredion, Inc.
Martin & Pleasance
Nutri-Pea
Roquette Freres
Shandong Jianyuan Group
Sotexpro SA
The Green Labs LLC
The Scoular Company

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Regional Landscape:

North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

Segmental Breakdown:

The pea protein market is mainly segmented based on form, product, source, application, and region. Based on the product analysis, in 2023, the isolates segment had the most revenue share. Isolates are widely used as nutritional supplements in meat products, fruit mixes, energy drinks, and bakery items due to their superior emulsification and non-allergenic qualities.

Furthermore, according to the form research, the dry segment held the largest market share during the forecast period due to its increased protein concentration, improved functionality, extended shelf life, and ease of handling and storage; pea protein, when processed dry to produce concentrates and isolates, yields a more concentrated protein product.

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Pea Protein Market Report Highlights

The Isolates segment dominated the revenue share in 2023. Isolates are widely utilized as nutritional supplements in various applications, including meat products, fruit mixes, energy drinks, and bakery items, owing to their favorable emulsification properties and non-allergenic characteristics. The expected growth in the sports nutrition sector, especially in developed nations like the U.S., Germany, and the UK, propelled by the introduction of new products like Amway and Cadbury in the energy mix segment, is anticipated to drive increased demand for isolates.
The Dry segment held the highest market share throughout the forecast period. Processed through dry methods to create concentrates and isolates, pea protein exhibits heightened protein concentration, enhanced functionality, extended shelf life, and convenient handling and storage. These qualities make it highly attractive to both manufacturers and consumers seeking efficient protein sources. The powdered form of dry pea protein allows for seamless integration into various food applications without compromising texture or taste, ensuring prolonged shelf life and stability with its low moisture content. Additionally, its ease of handling and storage, coupled with its clean label appeal and alignment with the growing demand for plant-based protein alternatives, solidifies its market dominance.

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