Pea Protein Market: Rise In The Number Of Vegan And Flexitarian Consumers Fuels The Market

Pea Protein Market Overview

According to a recent survey conducted by ChemView Consulting, the Global Pea Protein Market grew at a CAGR of 8.7% between 2017-2021 and is estimated to be US$ 354.9 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 9.8% and is expected to reach a valuation of US$ 903.9 Mn by 2032 end.

A healthy diet and an active lifestyle are becoming more and more popular among consumers, fueling product demand development. Additionally, there is a huge market opportunity due to developing more products with targeted purposes, such as energy balancing, weight loss, muscle restoration, and satiety. Other peas, such as dry, green, and chickpeas, extract the protein; these peas are accessible as concentrates, textured foods, and isolates.

ChemView Consulting has analyzed that the market for pea proteins is predicted to increase due to consumers’ increased focus on their health and replacing traditional meat products like sausages and patties with plant-based alternatives. The market for plant-based proteins is anticipated to develop throughout the estimated period as the number of vegan and flexitarian consumers rises. Over half of all registered items come from businesses headquartered outside the United Kingdom.

According to estimates, the Pea Protein market is dominated by the Isolate category. Due to rising knowledge of the advantages of pea protein isolates and their high protein content, these pea protein isolates have been adopted more frequently on the global market. This market’s expansion on a worldwide scale is aided by its extensive use in vegan protein powder, snack bars, and plant-based meats.

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Segments Covered in Report

By Type:

  • Isolate
  • Concentrate
  • Textured

By Application:

  • Meat Substitutes
  • Bakery Goods
  • Dietary Supplements
  • Beverage
  • Others

By Source:

  • Yellow Spit Pea
  • Chickpea
  • Lentils

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Key Takeaways from the Pea Protein Market

  • Based on the type, According to estimates, the Pea Protein market is dominated by the Isolate category. Due to rising knowledge of the advantages of pea protein isolates and their high protein content, these pea protein isolates have been adopted more frequently on the global market. This market’s expansion on a worldwide scale is aided by its extensive use in vegan protein powder, snack bars, and plant-based meats.
  • Based on the application, dietary supplements dominated the market and held more than 40.2% of the total revenue share. Pea protein is added to nutritious syrups, tablets, energy powders, cereal bars, and soups because it has several health advantages, including improved bone health, muscle growth, and blood sugar control. Growing consumer interest in sports nutrition products due to increasing knowledge about bone and muscle health is anticipated to drive the segment’s expansion.
  • Based on the region, North America held the highest market share in volume and value during the forecast period, with 37.7%. The main factors driving the global market are the rising vegan population, the rising demand for health & wellness products, and the rising consumption of processed meat products.

Competition Summary

Key companies covered in the market study are Burcon Nutrascience, Roquette Freres, The Scoular Company, DuPont, Cosucra Groupe Warcoing SA, Nutri-Pea Ltd., Shandong Jianyuan Group, Sotexpro SA, Ingredion, Inc., Axiom Foods, Inc., Fenchem Inc., Martin & Pleasance, The Green Labs LLC

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Report Key Highlights and Coverage

  • Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
  • Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
  • The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
  • Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
  • Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
  • Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
  • Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
  • Key drivers, restraints, opportunities, and emerging trends impact market growth.
  • Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
  • Strategic market analysis, recommendations, and future headways on crucial winning strategies.

About ChemView Consulting

ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have collaborated with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.

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