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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Pea Protein Market Size
The global pea protein market size reached around USD 2,012.87 million in 2023. The market is estimated to witness robust growth in the coming years, growing at a CAGR of 20.1% in the forecast period of 2024-2032, reaching a value of USD 10,408.25 million by 2032.
Key Takeaways
- Reportedly, there are about 88 million vegans on a global scale.
- The clean label trend is stimulating processed food manufacturers to include pea protein as a food ingredient.
- The consumption of pea protein is supported by its hypoallergenic nature.
Food ingredients, such as pea proteins, that provide health benefits gained popularity among functional food manufacturers to meet the consumers' demand for functional foods and drinks. Pea proteins are rich in antioxidants that protect the body from damage caused by free radicals and boost the immune system functioning.
The potential health benefits of pea protein, such as hypoallergenic properties, high iron content, and improved metabolism, among others, are driving its use in diverse applications. Besides, due to lesser health controversy in comparison to other plant-based proteins like soy protein, the preference for pea protein among end users has surged significantly.
Trend towards vegan diet and vegetarianism has increased the demand for pea protein as it can also be consumed by individuals who are lactose intolerant or those who do not include dairy-based protein.
Pea Protein Market Report Snapshots
Pea Protein Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a value of around USD 2,012.87 million in 2023.
The market is projected to grow at a CAGR of 20.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 10,408.25 million by 2032.
The different types are isolate, concentrate, and textured pea protein.
The key regional markets for pea protein are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Pea protein finds application in bakery and confectionery, functional food and beverages, meat additives, and sports nutrition.
The factors driving the market include the increasing inclination towards veganism and clean label foods, the growing food and beverage sector, and increased demand for gluten-free bakery products.
The key players in the market include Yantai Shuangta Food Co., Ltd, Shandong Jianyuan Group, Roquette Frères S.A., COSUCRA Groupe Warcoing S.A., Burcon NutraScience Corporation, Axiom Foods, Inc., and Naturz Organics, among others.
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