The Textured Pea Protein Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Textured Pea Protein Global Market Report 2024, The textured pea protein market size has grown strongly in recent years. It will grow from $0.58 billion in 2023 to $0.63 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. 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 $0.91 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. 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.
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.
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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
The launch of organic pea protein isolate is an emerging trend in the textured pea protein market. Major companies operating in the textured pea protein sector are focused on introducing organic pea protein to meet the consumer demand for organic protein products. For instance, in June 2021, Roquette Freres, a France-based company operating in plant-based ingredients, announced the launch of NUTRALYS, a range of organic textured proteins from peas and fava beans. NUTRALYS provides 11 levels of textured proteins that provide a wide range of forms and textures with a neutral flavor and clean label, enabling a variety of meals that substitute meat and fish and offer the possibility to develop both tasty and organic plant-based gastronomy.
The textured pea protein market report table of contents includes:
- Executive Summary
- Textured Pea Protein Market Characteristics
- Textured Pea Protein Market Trends And Strategies
- Textured Pea Protein Market – Macro Economic Scenario
- Global Textured Pea Protein Market Size and Growth
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- Global Textured Pea Protein Market Competitive Benchmarking
- Global Textured Pea Protein Market Competitive Dashboard
- Key Mergers And Acquisitions In The Textured Pea Protein Market
- Textured Pea Protein Market Future Outlook and Potential Analysis
- Appendix
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