Press release
Pea Protein Market is projected to grow at a CAGR of 12.02 % from 2024 to 2030
Pea Protein Market
Market Overview:
Pea protein, sourced from split peas, is a fantastic plant-based protein with recognized dietary advantages and useful characteristics. It contains essential amino acids like lysine and threonine, making it a valuable protein source widely used in the global market due to its high protein content, availability, affordability, and sustainability as a crop. Pea protein exhibits impressive functional characteristics such as solubility, water and oil binding capacity, emulsifying ability, gelation, and viscosity, making it a potential ingredient in the food industry.
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What are market dynamics?
The increase in need is mainly due to the increasing health consciousness among the general public and the health advantages linked to plant-based diets. Additionally, plant-based alternatives are attractive to individuals looking for healthier choices due to their reduced levels of saturated fats and cholesterol. The growing popularity of vegans and vegetarians has increased the demand for plant-based protein sources, with pea protein emerging as a top choice. A study by MMR found that roughly 5% of Americans identify as vegetarians, while around 3% identify as vegans. In 2012, just 2% of Americans were classified as vegan, indicating an increase in the vegan community. Projections suggest that by 2040, the vegan lifestyle will become more popular, leading to a reduced meat consumption of just 40% of the global population.
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Market Trend:
Significant growth is anticipated for the Europe pea protein market during the forecast period. Influential celebrities, athletes, and influencers endorsing plant-based diets and fitness regimens impact consumer decisions and boost the exposure of pea protein products. Documentaries and social media promotions that highlight the health benefits and environmental impacts of a plant-based diet are also playing a role in the increasing demand for pea protein. The growing awareness is enhancing the consumption of plant-based products, leading more consumers to experiment with pea protein items, thereby, driving the market expansion.
Key Offerings:
Porter's Five Forces Analysis helps designing business strategies by assessing the competitive landscape, market entry and exit barriers, and dominance by key players. PESTEL Analysis shows political, economic, social, technological, environmental & legal analysis of the market.
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What is Pea Protein Market Segmentation?
by Type
Isolates
Concentrates
Textured
by Source
Split yellow peas
Lentils
Chickpeas
by Application
Meat substitutes
Performance nutrition
Functional foods
Snacks
Beverages
by Form
Dry
Wet
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Some of the current players in the Pea Protein Market are:
Major Pea Protein Providers in North America:
• DuPont (United States)
• Ingredion (United States)
• Puris (United States)
• The Scoular Company (United States)
• Burcon (Canada)
Leading Pea Protein Manufacturers in Europe:
• Roquette Frères (France)
• Cosucra Groupe Warcoing SA (Belgium)
• Cosucra (Belgium)
Key Players of Pea Protein Market in APAC:
• Yantai Shuangta Foods Co., Ltd (China)
• Shandong Jianyuan Group (China)
• ET-Chem (China)
• Shandong Xiangchi Jianyuan Bio-Tech Co., Ltd. (China)
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Maximize Market Research is a global market research and consulting company that provides businesses with insights to foster their growth and competitive advantage. The company specializes in delivering actionable and data-driven research reports tailored to help organizations make informed decisions. With a team of experienced analysts and consultants, Maximize Market Research offers expertise across multiple industries, including healthcare, technology, manufacturing, consumer goods, and more.
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