Key Pea Protein Ingredients Market Trend 2024-2033: Innovation in Textured Vegetable Proteins

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The pea protein ingredients market is projected to grow from $1.83 billion in 2023 to $1.96 billion in 2024, with a CAGR of 6.9%. This growth is driven by the increasing demand for plant-based protein sources, meat alternatives, protein-rich foods, and rising health consciousness.

What Are the Market Size Estimates for the Global Pea Protein Ingredients Market and Its Expected Growth Rate?

The market is anticipated to grow robustly, reaching $2.67 billion by 2028 at a CAGR of 8.1%. This growth is attributed to the rising vegan and vegetarian populations, increasing demand for plant-based foods, and sustainable sourcing. Trends include innovation in product development, plant-based meat alternatives, and clean-label packaging.

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What Are The Primary Growth Drivers Of The Pea Protein Ingredients Market?

The increasing popularity of vegetarian and vegan diets is expected to drive growth in the market. Pea protein is a sustainable, plant-based option for meeting protein needs in vegetarian and vegan diets. According to the Plant-Based Foods Association, U.S. retail sales of plant-based foods grew by 6.67% in 2022, indicating strong market demand for pea protein ingredients.

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Who Are The Top Market Players Contributing To The Growth Of The Pea Protein Ingredients Market?

Major companies operating in the 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 Emerging Trends Are Affecting The Size Of The Pea Protein Ingredients Market?

Major companies operating in the market are developing textured vegetable protein products, such as Vertis, to gain a competitive advantage and enhance their product offerings. Vertis is an innovative textured pea canola protein product offering a complete plant-based protein source with unique textural properties, ideal for meat alternatives and plant-based applications.

How Is the Global Pea Protein Ingredients Market Segmented?

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

Geographical Analysis: North America Emerges as the Pea Protein Ingredients Market Leader

North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Pea Protein Ingredients Market Definition and Overview

The pea protein ingredients are used in the preparation of smoothies and shakes to increase the protein content in them. Pea protein ingredients refer to food products and protein supplements that are derived and extracted from yellow and green split peas, Pisum sativum. The pea protein ingredients consist of flour, isolate, and concentrate. These proteins are alternatives to those derived from animals and soy.

The Pea Protein Ingredients Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Pea Protein Ingredients Market Report: Trends, Opportunities, Strategies, and More
The Pea Protein Ingredients Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into pea protein ingredients market size, pea protein ingredients market drivers and trends, pea protein ingredients market major players, pea protein ingredients competitors' revenues, pea protein ingredients market positioning, and pea protein ingredients market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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