Textured Pea Protein Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Textured Pea Protein Market grew at a CAGR of 6.1% between 2017-2021 and is estimated to be US$ 479.2 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 6.9% and is expected to reach a valuation of US$ 933.9 Mn by 2032 end.
Due to various causes, trends and consumer preferences in the global food and beverage industry continue to develop quickly. Consumer behavior worldwide is changing tectonically away from meat-based products, especially in Europe and North America.
Over the past ten years, a new wave of niche food trends has emerged in response to growing environmental concerns, rising awareness of animal cruelty, and the detrimental effects of meat products on human health. Over the past few years, plant-based proteins have gradually grown in popularity. This developing trend is anticipated to significantly increase demand for textured pea protein throughout the projection period.
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.
Due to its wider range of uses and superiority over wet pea protein, the dry form of pea protein is the more prevalent form. Due to their qualities and high demand across a variety of applications, dry-textured pea proteins hold a dominating position in the market.
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Segments Covered in Report
By Product Type:
- Yellow Peas
- Green Peas
By Nature:
- Organic
- Conventional
By End-Use:
- Food Processing
- Animal Feed
- Nutraceuticals
- Sports Nutrition
- Infant Nutrition
- Cosmetic & Personal Care
By Processing Type:
- Dry Processing
- Wet Processing
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 Textured Pea Protein Market
- Based on the processing type, due to its wider range of uses and superiority over wet pea protein, the dry form of pea protein is the more prevalent form. Due to their qualities and high demand across a variety of applications, dry-textured pea proteins hold a dominating position in the market
- Based on the end-use, pea protein, which is currently employed in producing plant-based sausages and burger patties, has grown due to the rising demand for meat substitutes. As a result of issues including lactose intolerance, athletes have begun switching from whey protein to vegan protein substitutes like pea protein, which has led to a significant expansion in the use of performance nutrition.
- Based on the product type, one of the pea sources that product producers most frequently choose is yellow split peas. This results from peas’ versatility and adaptability to many product types, boosting demand for yellow split peas in various goods, including beverages, functional meals, performance nutrition, and plant-based meat. Yellow split peas are perfect for producing pea protein isolates due to their high protein content.
- Based on the region, during the forecast period, North America held the highest position in terms of volume and value, with a market share of 34.3%. 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 Rouquette Freres and DuPont. Puris Foods, Ingredion, Emsland Group, Fenchem Inc, The Green Labs LLC, A&B Ingredients, Glanbia PLC, Axiom Foods Inc, The Scoular Company, Burcon Nutrascience Corp Cosucra Groupe Warcoing, SotexPro, AGT Foods, Shandong Jianyuan Foods Co., Ltd., Yan Tai Shuang Ta Food Co.Ltd, Kerry Inc, Batory Foods
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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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