Textured Pea Protein Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Textured pea protein is a protein supplement that is extracted from peas to create high-protein, plant-based meat substitutes. It is a naturally gluten-free and soy-free product with a pleasant taste and texture, offering it an ideal complement to popular ingredients in a variety of applications. Textured pea protein is non-GMO and has low allergenicity which makes it a great alternative to wheat and soy products.

Sizing and Forecast
The textured pea protein market size has grown strongly in recent years. It will grow from <b>$0.58 billion in 2023 to $0.63 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. </b> The growth in the historic period can be attributed to increased demand for plant-based proteins, growth in consumer awareness of health and nutrition, rise in incidence of lactose intolerance and allergies, expansion of vegetarian and vegan diets, improved taste and texture of textured pea protein products.

The textured pea protein market size is expected to see strong growth in the next few years. It will grow to <b>$0.91 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. </b> The growth in the forecast period can be attributed to rising adoption of clean label and natural ingredients, regulatory support and approvals for pea protein, increasing focus on sustainable and ethical sourcing practices, growing consumer interest in sports nutrition and fitness, market penetration in emerging economies. Major trends in the forecast period include technological advancements in protein extraction and processing, innovation in product formulations and applications, texture and mouthfeel enhancement, functional benefits beyond protein, nutritional enrichment and fortification.

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Segmentation & Regional Insights
The textured pea protein market covered in this report is segmented –

1) By Product Type: Yellow Peas, Green Peas
2) By Nature: Organic, Conventional
3) By Processing Type: Dry Processing, Wet Processing
4) By End Use: Food Processing, Animal Feed, Nutraceuticals, Sports Nutrition, Infant Nutrition, Cosmetic And Personal Care, Other End-users

<b>North America</b> was the largest region in the textured pea protein market in 2023. <b>Europe</b> was the second-largest market in the textured pea protein market. The regions covered in the textured pea protein market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The rising consumer interest in plant-based protein is contributing to the growth of the textured pea protein market. In recent years, consumer interest in plant-based diets has increased significantly with vegan, vegetarian, and flexitarian diets becoming quite prevalent. The protein level of textured pea protein components is among the highest on the globe, with a pleasant taste and attractive texture. According to the Good Food Institute published report in 2021, a US-based non-profit organization to promote plant-based and cell-based alternatives to animal products, sales of plant-based foods increased three times more quickly than those of non-plant-based meals as compared to its previous years in the year 2021 in the US. Therefore, the rising consumer interest in plant-based proteins propels the growth of the textured pea protein market.

Key Industry Players
Major companies operating in the textured pea protein market include <b> Roquette Freres SA, Puris Foods LLC, Burcon Nutrascience Corporation, Nisco ApS, Sotexpro SAS, Exeller NV, Vestkorn Milling AS, Nutri-Pea Ltd., Cosucra Groupe Warcoing SA, Scoular Grain Company, Axiom Foods Inc., Alliance Grain Traders Foods, The Green Labs LLC, DuPont Nutrition & Biosciences, Shandong Jianyuan Foods Co. Ltd., Kerry Group plc, Emsland Group, Yantai Shuangta Food Co. Ltd., Yantai Oriental Protein Tech Co. Ltd., Shandong Zhaoyuan Food Company, Shandong Huatai Food Co. Ltd., Ingredion Inc., Fenchem Inc., A&B Ingredients, Farbest Brands, Glanbia Nutritionals Plc, Martin & Pleasance Wholesale Pty Ltd., Now Health Group Inc., Prinova Group, Shaanxi Fuheng Biotechnology Co. Ltd. </b>

The textured pea protein market report table of contents includes:

1. Executive Summary

2. Textured Pea Protein Market Characteristics

3. Textured Pea Protein Market Trends And Strategies

4. Textured Pea Protein Market – Macro Economic Scenario

5. Global Textured Pea Protein Market Size and Growth

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31. Global Textured Pea Protein Market Competitive Benchmarking

32. Global Textured Pea Protein Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Textured Pea Protein Market

34. Textured Pea Protein Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players:

Roquette Freres SA

Puris Foods LLC

Nisco ApS

Sotexpro SAS

Exeller NV

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