What Has Been the Growth of the Pea Protein Ingredients Market So Far?
The pea protein ingredients market has seen considerable growth due to a variety of factors.
• The market size for pea protein ingredients has seen considerable growth in the past few years. Anticipated to escalate from $1.96 billion in 2024 to $2.09 billion in 2025, it's expected to display a compound annual growth rate (CAGR) of 6.9%.
The previous growth can be linked to an increasing trend towards plant-based protein sources, a heightened demand for substitutes to meat, an upswing in demand for foods rich in protein, growing health awareness among consumers, and expanding demand for functional foods.
What Are the Future Growth Projections for the Pea Protein Ingredients Market?
The pea protein ingredients market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations for the pea protein ingredients market suggest a substantial increase in the coming years. By 2029, the market could value up to $2.92 billion, reflecting a compound annual growth rate (CAGR) of 8.7%.
This growth during the forecast period is potentially due to factors such as the burgeoning vegan and vegetarian communities, the allergen-free and gluten-free benefits, the surge in demand for vegetarian and vegan food items, the bolstering acceptance in burgeoning markets, and a heightened attention towards sustainable sourcing. Key trends over the forecast period may encompass innovation in product creation, plant-based meat substitutes, specialized protein mixtures, transparent labeling and advertising, as well as sports-oriented nutrition and supplements.
Which Factors Are Boosting Growth In The Pea Protein Ingredients Market?
The surge in vegetarian and vegan dietary trends is anticipated to boost the pea protein ingredient market's expansion in the future. these diets involve a lifestyle that strictly foregoes consumption of animal-based products. Due to their plant origin, pea protein ingredients provide a flexible and sustainable solution for vegetarians and vegans' protein requirements. For example, as reported by The Plant-Based Foods Association, a trade organization that represents the American plant-based food sector, in April 2023, plant-based foods accounted for an estimated $8 billion in U.S. retail sales in 2022, reflecting a close to 6.67% growth from $7.5 billion in 2021. Consequently, the increasing popularity and acceptance of vegetarian and vegan diets fuel the progression of the pea protein ingredient market.
What Key Areas Define The Segmentation Of The Global Pea Protein Ingredients Market?
The pea protein ingredients market covered in this report is segmented –
1) By Type: Isolates, Concentrates, Other Types
2) By Source: Yellow split peas, Chickpeas, Lentils
3) By Application: Bakery and Snacks, Dietary Supplements, Beverages, Meat Substitutes, Other Applications
Subsegments:
1) By Isolates: Yellow Pea Protein Isolates, Green Pea Protein Isolates
2) By Concentrates: Yellow Pea Protein Concentrates, Green Pea Protein Concentrates
3) By Other Types: Textured Pea Protein, Pea Protein Flour, Pea Protein Hydrolysates
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How Are Emerging Trends Reshaping The Dynamics Of The Pea Protein Ingredients Market?
Leading entities in the market, such as Vertis, are evolving their product ranges with the creation of textured vegetable protein products to bolster their competitive standing. Vertis is known for its cutting-edge product- a textured pea canola protein that serves as a comprehensive plant-based protein source. This unique textured protein is perfect for plant-based applications and substitutes for meat. DSM, a Dutch corporation specializing in offering novel solutions for nutrition, health, and sustainable living, released Vertis Textured Pea Canola Protein in 2022. This product stands out as the first textured vegetable protein globally that supplies all nine essential amino acids, positioning itself as a comprehensive protein source. This groundbreaking product is devoid of soy, gluten, and dairy, amplifying its adaptability. Furthermore, Vertis's textured pea canola protein provides unique textural benefits and aims to facilitate food manufacturers in crafting more genuine and nutrition-rich plant-based or meat alternative products. Impressively, it has quick hydration, exceptional processing capabilities, and facilitates low-fat and low-salt recipes, all while maintaining a robust and elastic texture similar to conventional meat products.
Who Are the Key Players in the Pea Protein Ingredients Market?
Major companies operating in the pea protein ingredients market include:
• Cargill Incorporated
• Agridient Inc.
• Axiom Foods Ltd.
• Norben Company Inc.
• Nutri Pea Ltd.
• Burcon NutraScience Corporation
• Cosucra Groupe Warcoing SA
• A & B Ingredients Inc.
• Shandong Jianyuan Foods Co. Ltd.
• Archer Daniels Midland Company
• Fenchem SA
• Kerry Group plc
• Prinova Group LLC
• Batory Foods Inc.
• PLT Health Solutions
• Glanbia plc
• AGT Food & Ingredients Inc.
• World Food Processing LLC
• Yantai T. Full Biotech Co. Ltd.
• Suzhou Wanshen Flour Products Co. Ltd.
• Ingredion Incorporated
• Cambridge Commodities Inc.
• Consucra-Groupe Warcoing SA
• Roquette Freres Le Romarin SA
• Green Labs LLC
• GEMEF Industries
• Puris Proteins LLC.
• Tate & Lyle Inc.
• Emsland-Starke Gmbh
• DuPont de Nemours Inc.
What Is The Most Dominant Region In The Pea Protein Ingredients Market?
North America was the largest region in the pea protein ingredients market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pea protein ingredients market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
