Pea Protein Market Size to Grow USD 7.7 Billion by 2028 at a CAGR of 11.9% | Valuates Reports
BANGALORE, India, Jan. 18, 2024 /PRNewswire/ -- Pea Protein Market is Segmented by Type (Low Purity Pea Protein Isolate (75%-80%), Medium Purity Pea Protein Isolate (80%-85%), High Purity Pea Protein Isolate (>85%)), by Application (Sports Nutrition Food, Energy Drinks, Health Food, Pet Food): Global Opportunity Analysis and Industry Forecast, 2024-2030. It is Published in Valuates Reports Under the Category of Nutrition.
The Global Pea Protein Market size is projected to grow from USD 1.7 Billion in 2022 to USD 7.7 Billion by 2028 at a CAGR of 11.9% during the forecast period.
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Major Factors Driving the Growth of Pea Protein Market
The growing demand for plant-based proteins as a result of a global move to more sustainable and health-conscious diets is propelling the market for pea protein. Pea protein has become a popular option as customers seek plant-derived alternatives because of its full amino acid profile, allergen-free status, and adaptability.
Pea protein is widely used in food and beverage items due to the expansion of plant-based diets, veganism, and increased knowledge of its nutritional advantages and practical uses. Because pea protein satisfies consumer demands for minimally processed and environmentally friendly products, the industry is further boosted by the clean label and sustainable food movements.
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TRENDS INFLUENCING THE GROWTH OF THE PEA PROTEIN MARKET:
Pea protein is becoming more and more popular as customers prioritize plant-derived alternatives for sustainability and health-related reasons. The market for pea protein is growing as a result of people's attraction to it as a full amino acid profile and as a flexible substitute for animal-based protein sources. Health-conscious people find pea protein to be a satisfying and allergy-friendly source of protein. The market takes advantage of this trend by increasing demand for food and beverage products fortified with pea protein as customers look for goods that support their health objectives.
The market for pea protein is growing due in large part to the rise in plant-based diets and the growing popularity of veganism. The popularity of plant-centric lifestyles, driven by ethical, environmental, and health considerations, has increased demand for plant-based protein substitutes such as pea protein. For people who follow plant-based eating patterns, the market offers a sustainable and cruelty-free protein source in response to this expanding demographic. Pea protein is in line with the clean label and sustainable food movements, which prioritize openness and eco-friendly methods. Pea protein appeals to customers who are looking for natural, minimally processed foods because of its eco-friendly farming and low processing. The market gains from the link with clean-label products, drawing in customers who value eating sustainably and who are concerned about the environment.
The market for pea protein is expanding thanks in large part to innovations in the food sector, which are motivated by a focus on alternative protein sources. Pea protein is being used by food makers to make a range of goods, such as plant-based meat substitutes, dairy substitutes, snacks, and drinks. By supplying a wider range of products, the market is more accessible and appealing to a larger group of customers. Pea protein's functional qualities and nutritional advantages support the market expansion of this product. Rich in vital amino acids, especially lysine, pea protein also possesses useful properties including the ability to froth and emulsify. These characteristics encourage the integration of pea protein into a broad range of goods and increase market demand by making it a flexible component in a variety of food and beverage compositions.
Pea protein is the product of choice for customers with dietary preferences and limits since it is free of allergens and genetically modified organisms. Pea protein is suitable for those with dietary sensitivities since it is devoid of common allergens including dairy, gluten, and soy. Pea protein's inclusiveness helps the market by offering a good supply of protein to a wide variety of customers.
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PEA PROTEIN MARKET SHARE ANALYSIS
Key companies in the pea protein market globally include Shuangta Food, Emsland, Roquette, Cosucra, and Nutri-Pea. Over 85% of all manufacturers worldwide are in the top five.
With a market share of over 80%, Europe leads the market, followed by North America and Asia Pacific, each with a share of over 15%.
With a market share of more than 70%, Medium Purity Pea Protein Isolate (80%–85%) is the leading product category.
Sports nutrition food is the second-largest application in terms of applicability, after health food.
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Key Companies:
- Emsland
- ROQUETTE
- Cosucra
- Nutri-Pea
- Shuangta Food
- Yantai Oriental Protein Tech
- Shandong Jianyuan Foods
- Shandong Huatai Food
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