The pea protein ingredients global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Pea Protein Ingredients Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The pea protein ingredients market size has grown strongly in recent years. It will grow from $1.83 billion in 2023 to $1.96 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to growing preference for plant-based protein sources, increased demand for meat alternatives, rise demand for protein-rich foods, rising health consciousness among consumers, growing demand for functional foods.
The pea protein ingredients market size is expected to see strong growth in the next few years. It will grow to $2.67 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to rising vegan and vegetarian populations, allergen-free and gluten-free appeal, increasing demand for vegan and vegetarian food products, greater adoption in emerging markets, increased focus on sustainable sourcing. Major trends in the forecast period include innovation in product development, plant-based meat alternatives, customized protein blends, clean-label packaging and marketing, sports nutrition and supplements.
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Scope Of Pea Protein Ingredients Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Pea Protein Ingredients Market Overview
Market Drivers –
The growing popularity of vegetarian and vegan diets is expected to propel the growth of the pea protein ingredient market going forward. Vegetarian and vegan diets refer to different variations of vegetarianism in which no food of animal origin is consumed. Pea protein ingredients, being derived from plant sources, serve as a versatile and sustainable option for meeting the protein needs of vegetarian and vegan consumers. For instance, in April 2023, according to a report published by The Plant-Based Foods Association, a US-based trade association representing the plant-based food industry, plant-based foods accounted for $8 billion in U.S. retail sales in 2022, representing an increase of approximately 6.67% from $7.5 billion in 2021. , Therefore, the growing popularity of vegetarian and vegan diets is driving the growth of the pea protein ingredient market.
Market Trends –
Major companies operating in the market are developing textured vegetable protein products, such as Vertis, to gain a competitive advantage and enhance their product offerings. Vertis is an innovative textured pea canola protein product offering a complete plant-based protein source with unique textural properties, ideal for meat alternatives and plant-based applications. For instance, in 2022, DSM, a Netherlands-based company focused on delivering innovative solutions in nutrition, health, and sustainable living, launched Vertis Textured Pea Canola Protein. It is the world’s first textured vegetable protein to provide all nine essential amino acids, establishing it as a complete protein source. This innovative solution is also free from soy, gluten, and dairy, making it highly versatile. Vertis Textured Pea Canola Protein offers distinct textural advantages and is designed to empower food producers in the creation of more authentic and nutritionally appealing meat alternatives and plant-based applications. Notably, it boasts rapid hydration, excellent processing capabilities, and supports low-fat and low-salt formulations while delivering a firm and resilient texture reminiscent of traditional meat products.
The pea protein ingredients market covered in this report is segmented –
1) By Type: Isolates, Concentrates, Other Types
2) By Source: Yellow split peas, Chickpeas, Lentils
3) By Application: Bakery and Snacks, Dietary Supplements, Beverages, Meat Substitutes, Other Applications
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Regional Insights –
North America was the largest region in the pea protein ingredients market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pea protein ingredients market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the pea protein ingredients market include Cargill Incorporated, Agridient Inc., Axiom Foods Ltd., Norben Company Inc., Nutri Pea Ltd., Burcon NutraScience Corporation, Cosucra Groupe Warcoing SA, A & B Ingredients Inc., Shandong Jianyuan Foods Co. Ltd., Archer Daniels Midland Company, Fenchem SA, Kerry Group plc, Prinova Group LLC, Batory Foods Inc., PLT Health Solutions, Glanbia plc, AGT Food & Ingredients Inc., World Food Processing LLC, Yantai T. Full Biotech Co. Ltd., Suzhou Wanshen Flour Products Co. Ltd., Ingredion Incorporated, Cambridge Commodities Inc., Consucra-Groupe Warcoing SA, Roquette Freres Le Romarin SA, Green Labs LLC, GEMEF Industries, Puris Proteins LLC., Tate & Lyle Inc., Emsland-Starke Gmbh, DuPont de Nemours Inc.
Table of Contents
1. Executive Summary
2. Pea Protein Ingredients Market Report Structure
3. Pea Protein Ingredients Market Trends And Strategies
4. Pea Protein Ingredients Market – Macro Economic Scenario
5. Pea Protein Ingredients Market Size And Growth
…..
27. Pea Protein Ingredients Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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