Pea Protein Ingredients Market Global Research Report by Type (Isolates, Concentrates, and Textured), Application (Food & Beverages [Meat Substitutes, Bakery & Confectionery, Beverages, Dietary Supplements, Sweet & Savory Snacks, Infant Nutrition, and Others], Animal Feed, and Personal Care), and Region (North America, Europe, Asia-Pacific, Rest of the World) - Forecast till 2027
ID: MRFR/F-B & N/3100-HCR | 110 Pages | Published By Pradeep Nandi on March 2023
Speak to Analyst
Request a Free Sample
Pea Protein Ingredients Market
Pea Protein Ingredients Market is projected to present a 13.4% CAGR to reach USD 12.31 Billion by 2030
$12.31 Billion
13.4%
North America
2021-2030
Segmentation
Key Players
Drivers
Pea Protein Ingredients Market Scenario
The Pea Protein Ingredients Market is registering high growth due to the high demand for vegan and vegetarian protein ingredients sources. The manufacturers are focusing on innovative products and technology with the help of extensive research and development to improve product quality. Growing demand for protein ingredients in various end-use industries is driving the growth of the pea protein ingredients industry.   One of the primary factors contributing to the increasing adoption of pea protein ingredients is the growing awareness about the benefits of protein ingredients among consumers. In addition to that, the growing adoption of a high protein diet by consumers is boosting the sales of products with high protein ingredients content. Also, as consumers are getting aware about pea protein as an alternative to animal-sourced protein, the demand for pea protein ingredients is increasing. Moreover, rising concerns regarding lactose intolerance among people is increasing the demand for alternative for protein ingredients sourced from milk and milk derivatives. The global pea protein ingredients industry is expected to garner a revenue of USD 1.2 billion at a CAGR of 5.1% during the forecast period of 2019–2024. Pea protein ingredients are gaining acceptance globally, owing to the increasing health concerns among the population. Pea protein is gaining popularity among consumers owing to its cost-effectiveness over other alternatives in the market such as soy, wheat, rice, and others.  Segmentation MRFR segments the pea protein ingredients market based on type, application, and region. By type, the global market has been classified as isolates, concentrates, and textured. Isolates segment holds the major market share in global market, and the same segment is expected to record the highest growth rate. On the basis of application, the global market has been categorized as food & beverages, animal feed, and others. The food & beverages segment has been further segregated into meat substitutes, bakery & confectionery, beverages, dietary supplements, sweet & savory snacks, infant nutrition, and others. The food & beverages segment is expected to account for the largest revenue share of the market. The same segment is expected to exhibit the higher growth rate during the forecast period of 2019 to 2024. The regional analysis for the global market has been conducted for Europe, Asia-Pacific, North America, and the rest of the world.  The North American pea protein ingredients market has further been segmented into the US, Canada, and Mexico. The European market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The pea protein ingredients market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The pea protein ingredients market in the rest of the world has been segmented into South America, the Middle East, and Africa. Key Players Archer Daniels Midland Company (US), Kerry Group PLC (Ireland), Cargill Incorporated (US), Cosucra Groupe Warcoing 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) are some of the key players in the global pea protein ingredients market.Regional Market Summary North America accounted for the largest market share in 2018. The region’s dominance and growth can be attributed to the increasing consumption of healthy food and beverages among health-conscious people. Additionally, the adoption of veganism among consumers in the US and Canada is the demand for vegan protein ingredients. Asia-Pacific is expected to be the fastest-growing regional market in the pea protein ingredients market. Rising demand for alternative for animal protein is majorly driving the growth of pea protein ingredients market in this region. Global Market, by Type
- Isolates
- Concentrates
- Textured
Global Market, by Application
- Food & Beverages
- Meat Substitutes
- Bakery & Confectionery
- Beverages
- Dietary Supplements
- Sweet & Savory Snacks
- Infant Nutrition
- Others
- Animal Feed
- Others
Global Market, by Region
-
North America- US
- Canada
- Mexico
-
Europe- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
-
Asia-Pacific- Japan
- China
- India
- Australia and New Zealand
- Rest of Asia-Pacific
-
Rest of the World (RoW)- South America
- Middle East
- Africa
Intended Audience
- Pea Protein ingredients manufacturers
- Functional foods & beverages industry
- Raw material suppliers
- Retailers and wholesaler
- Traders, importers, and exporters
