Global Pea Protein Market was estimated at USD 1,855.8 million in 2023 and is expected to increase at a compound annual growth rate (CAGR) of 7.53% from 2024 to 2031, reaching USD 3,312.8 Million.
Pea protein, derived from yellow split peas, is celebrated for its rich nutritional profile, offering a high protein content along with essential amino acids. As consumers become increasingly aware of the health benefits associated with plant-based diets, pea protein has emerged as a preferred alternative to traditional animal-based protein sources. This shift is particularly significant among millennials and Generation Z, who are more inclined towards sustainable and ethically sourced food options.
This growth is driven by increasing consumer interest in plant-based diets and rising awareness about environmental sustainability. In the scope of work, the report includes products offered by companies such as Cargill, Incorporated, ETprotein, Foodchem International Corporation, Ingredion, Nature Bio-Foods Ltd, Nutri-Pea, Roquette Frères, Sun Nutrafoods, Taj Agro International (Taj Pharma Group)., The Scoular Company and others.
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Regulatory factors also play a significant role in shaping the market landscape. Food safety regulations and labeling requirements are essential considerations for manufacturers as they strive to ensure compliance and build consumer trust. Kings Research emphasizes the importance of adhering to these regulations to avoid potential legal challenges and safeguard brand reputation.
Top 10 Companies:
- Cargill, Incorporated
- ETprotein
- Foodchem International Corporation
- Ingredion
- Nature Bio-Foods Ltd
- Nutri-Pea
- Roquette Frères
- Sun Nutrafoods
- Taj Agro International (Taj Pharma Group).
- The Scoular Company
Looking ahead, the pea protein market is poised for continued growth. The increasing popularity of plant-based diets, coupled with the demand for sustainable and nutritious food options, positions pea protein as a key player in the future of food. As manufacturers continue to innovate and expand their product offerings, it is expected that pea protein will become a staple ingredient in a variety of food categories.
Furthermore, the environmental impact of protein production has become a critical consideration for consumers. Pea protein is lauded for its sustainability, requiring significantly less water and land compared to animal protein production. As awareness of climate change and environmental issues grows, consumers are increasingly seeking products that align with their values. This has led to a surge in the demand for sustainable protein sources, positioning pea protein as a frontrunner in the quest for eco-friendly dietary options.
Competitive Landscapes:
Key players in the pea protein market are focusing on strategic collaborations, acquisitions, and product innovations to enhance their market presence. Companies such as Roquette Frères, Burcon NutraScience, and Axiom Foods are leading the way with extensive research and development initiatives to improve product quality and meet consumer demands.
Regional Insights:
The pea protein market is expanding globally, with significant growth anticipated in North America and Europe. North America dominates the market, driven by the high demand for plant-based products and a strong presence of leading food manufacturers. Europe is also experiencing substantial growth, supported by increasing consumer awareness of health and sustainability and favorable government policies promoting plant-based diets.
Pea Protein Market is segmented as:
By Type:
- Concentrates
- Isolates
- Textured
By Source:
- Chickpeas
- Yellow Split Peas
- Others
By Application:
- Meat Alternatives
- RTD Beverages
- Dairy Alternatives
- Nut Butters
- Snacks & Bars
- Nutrition Supplements
- Animal Feed
- Others
Future Outlook:
The future of the pea protein market looks promising, with continuous advancements in food technology and growing consumer preference for sustainable and healthy food options. The market is expected to witness new product launches, increased investment in research and development, and expanded application areas, further driving growth and market penetration.
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