Market Research Future Insights
The Pea Protein Ingredients Market is enrolling in high growth due to the high demand for vegan and vegetarian protein ingredient sources. The manufacturers are concentrating on innovative products and technology with the help of widespread research and development to enhance product quality. The rising demand for protein ingredients in various end-use industries is herding the growth of the pea protein ingredients industry.
One of the main factors contributing to the escalating adoption of pea protein ingredients is the growing cognizance of the benefits of protein ingredients among consumers. In addition to that, the rising embracement of a high-protein diet by consumers is boosting the sales of products with high protein ingredient content. Correspondingly, as consumers are getting aware of pea protein as an alternative to animal-sourced protein, the demand for pea protein ingredients is escalating. Also, growing interest regarding lactose intolerance among people is augmenting the demand for an alternative for protein ingredients sourced from milk and milk derivatives.
Pea protein ingredients are growing acceptance widely, owing to the enlarging health concerns among the population. Pea protein is gathering popularity among consumers owing to its cost-effectiveness over other alternatives in the market similar to soy, wheat, rice, and others.
The global Pea Protein Ingredients market overview is anticipated to grow at a CAGR of 13.4% and is projected to increase to USD 12.31 Billion by the end of the projected period in 2030.
Regional Analysis
The global Pea Protein Ingredients market has been segmented into North America, Europe, Asia- Pacific, and the rest of the world.
North America is esteemed for the largest market share in 2021. The region’s supremacy and growth can be attributed to the boosted consumption of healthy food and beverages among health-conscious people. Moreover, the embracement of veganism among consumers in the US and Canada is the requisition for vegan protein ingredients.
Asia- Pacific is anticipated to be the rapidly- growing regional market in the pea protein ingredients market. Growing demand for alternatives for animal protein is majorly punching the growth of the pea protein ingredients market report in this region.
The section is followed by Europe, which is initially led by the FB sector. In 2021, about 93% of the pea proteins in the region were exercised in the FB sector. The Middle East is projected to be a rapidly- growing market, as the demand for natural and sustainable ingredients is briskly growing due to the elevation in health awareness among consumers.
Market Segmentation
The global Pea Protein Ingredients market is segmented into following;
By Type
- Isolates
- Concentrates
- Textured
By Application
- Food Beverages
- Meat Substitutes
- Bakery Confectionery
- Beverages
- Dietary Supplements
- Sweet Savory Snacks
- Infant Nutrition
- Others
- Animal Feed
- Others
Key Players
The global Pea Protein Ingredients market’s prominent key players are Archer Daniels Midland Company (US), Kerry Group PLC (Ireland), Cargill Incorporated (US), CosucraGroupeWarcoing SA (Belgium), The Scoular Company (US), A B Ingredients Inc. (US), Nutri-Pea Limited (Canada), Prinova Group LLC (US), Roquette Frères S.A. (France), Burcon NutraScience Corporation (Canada), Ingredion Incorporated (US), Batory Foods (US), Cambridge Commodities Inc. (UK), PLT Health Solutions (US) and Axiom Foods Inc. (US)
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