Press release
Global Pea Protein Market: Latest Trends, Innovations, Leading Players, and Future Outlook
MarketsandMarkets™
The global pea protein market [https://finance.yahoo.com/news/pea-protein-market-grow-usd-080000711.html] is valued at USD 2.1 billion in 2024 and is expected to reach USD 3.7 billion by 2029, growing at a CAGR of 12.0% during the forecast period. The market's growth is fueled by rising demand for plant-based, allergen-free protein alternatives and increasing awareness of the environmental impact of animal agriculture.
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Pea protein stands out for its excellent nutritional profile, particularly its high lysine content-an amino acid often lacking in other plant-based proteins. Its allergen-free nature, excluding soy and dairy, makes it suitable for individuals with dietary restrictions. Additionally, pea protein production is more sustainable, requiring fewer natural resources and generating lower greenhouse gas emissions compared to animal-derived proteins, appealing to eco-conscious consumers.
Pea Protein Market Trends [https://www.prnewswire.com/news-releases/pea-protein-market-worth-3-7-billion-by-2029--exclusive-report-by-marketsandmarkets-302073893.html]
Rising Demand for Plant-Based Proteins: The shift towards vegan and vegetarian diets, along with the popularity of flexitarian lifestyles, is fueling the demand for plant-based proteins like pea protein. Its hypoallergenic nature and complete amino acid profile make it a preferred choice for health-conscious consumers.
Expansion in Sports Nutrition: Pea protein is gaining traction in the sports nutrition sector due to its high protein content and muscle-building properties. It's increasingly used in protein powders and supplements catering to athletes and fitness enthusiasts.
Technological Advancements: Innovations in processing technologies are enhancing the taste, texture, and functionality of pea protein, making it more versatile for various food and beverage applications.
Sustainability and Environmental Concerns: Pea protein production requires fewer natural resources and has a lower environmental impact compared to animal-based proteins. This aligns with the growing consumer emphasis on sustainability.
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Market Segmentation
By Type: Isolates Lead the Market in 2024
Pea protein isolates represent the largest market share by value in 2024. Their neutral taste and smooth texture make them ideal for use in a variety of food and beverage products, including snacks, dairy alternatives, and baked goods. Free from common allergens like soy, dairy, and gluten, isolates cater to a broad consumer base, including those with sensitivities or allergies. Their functional versatility and wide applicability continue to drive demand across the food industry.
By Application: Bakery Products Witness Strong Growth
The bakery segment within the food applications is projected to grow at the fastest rate. Pea protein enhances texture, moisture retention, and dough elasticity in baked goods, contributing to superior mouthfeel and extended shelf life. As consumer demand for protein-enriched bakery products rises, manufacturers are leveraging pea protein to diversify product offerings and gain a competitive edge.
Regional Insights: Europe Dominates the Market
Europe holds the largest share of the global pea protein market. The region's robust food and beverage sector is increasingly adopting pea protein for its multifunctional uses. Moreover, Europe's active role in international trade ensures easy access and distribution of pea protein across borders, supporting its widespread adoption in various applications.
Leading Pea Protein Companies [https://www.marketsandmarkets.com/ResearchInsight/pea-protein-market.asp]:
Key players operating in the pea protein market include Roquette Freres (France), ADM (US), Ingredion (US), Kerry Group Plc. (Ireland), Glanbia PLC (Ireland), Cargill Incorporated (US), International Flavors and Fragrances Inc. (US), Puris (US), Emsland Group (Germany), and Yantai Shuangta Foods Co., Ltd. (China). These players in this market are focusing on increasing their presence through expansion and collaboration. These companies have a strong presence in North America, Asia Pacific, and Europe.
ADM (US)
The Archer-Daniels-Midland Company (ADM) is a distinguished American multinational corporation with 75 years of expertise in the alternative protein and flavor industry. It is renowned as one of the leaders in human and animal nutrition ingredients and solutions. ADM holds a prominent position in sectors such as food and beverage, health, supplements, and animal nutrition. The company operates across four key product segments: agricultural services and oilseeds, carbohydrate solutions, nutrition, and other businesses. The nutrition segment is further divided into human nutrition, animal nutrition, pet nutrition, and industrial bio-solutions, with pea protein falling under the human nutrition category.
ADM's global footprint spans over 100 years of experience, serving markets in more than 190 countries. Operating in South America, North America, Europe, and Asia, the company seamlessly connects its products with diverse markets, establishing a robust presence worldwide. ADM's commitment to excellence is reflected in its comprehensive offerings and extensive reach across the human and animal nutrition landscape, positioning it as a top player in the industry.
Ingredion (US)
Ingredion is one of the leaders involved in the manufacturing of industrial ingredients. It has three business segments, i.e., starch products, sweetener products and co-products, and others. The company operates through six business segments: food, beverages, animal nutrition, beauty and home, biomaterials, and paper and corrugating. Its product portfolio includes starch products, plant proteins, sweetener products, gums and hydrocolloids, flours, fibers, allulose, extracts, emulsifiers, etc. It offers pea protein under its co-products and other business segment. Ingredion stands out as the exclusive North American producer providing a comprehensive range of pea protein isolates, pulse concentrates, and flours (including yellow pea, faba, chickpea, yellow lentil, and red lentil), along with pea starch, creating a diverse and all-encompassing product portfolio.
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