Published Date: December 20, 2022
Pea Protein Market size is expected to be worth USD 480 million by 2032, according to a recent research report announced by Global Market Insights Inc.
Strong demand for nutrient-rich foods is a major factor fueling the high consumption of pea proteins, especially in the Asia Pacific. In 2020, the dietary supplements sector crossed USD 7.2 billion in Japan. Nutraceutical products have also gained popularity as preventive healthcare became a priority during the COVID-19 pandemic. These trends will amplify the use of pea protein products in food applications to meet the functional and nutritional needs of consumers. Likewise, the shifting preference toward meat alternatives will create lucrative growth opportunities for pea protein producers over the forecast period.
Pea protein market share from concentrates product segment will be valued at over USD 210 million by 2032. Protein concentrates are comparatively less expensive than protein isolates since the processing method requires lesser time. Protein concentrates can also retain nutrients found in original protein sources, including vitamins, antioxidants, anti-inflammatory fats, and minerals. These attributes have led to the massive adoption of pea protein concentrates as a common ingredient in both foods and animal feeds. They are also considered a good alternative to other plant-based proteins such as soy protein concentrates, which can be potential allergens, further driving product consumption.
Pea protein market share from sports supplements application segment is poised to depict over 10% CAGR through 2023-2032. The requirement for energy drinks, dietary supplements, and proteins to improve the physical fitness of athletes and bodybuilders are some of the key factors bolstering pea protein production. The adoption of vegan diets has also surged, further escalating the consumption of pea protein to meet the nutritional needs for healthy muscles among athletes and strengthening the market outlook.
Browse key industry insights spread across 215 pages with 153 market data tables and 51 figures & charts from the report “Pea Protein Market Statistics By Product (Isolate, Concentrate, Textured), By Application (Meat Substitutes, Nutraceuticals, Sports Supplements), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/pea-protein-market-report
North America pea protein market value is projected to cross USD 145 million by 2032, given the continued progress of the bakery sector in the U.S. Pea protein is being utilized as a part of various high-protein formulations or sustainable products in baked foods, particularly in the dessert category. The escalating purchase of fresh and aisle bakery items will therefore support the development of this plant protein.
Growing burden of celiac diseases and the rise in consumption of gluten-free food products are also among the key factors bolstering pea protein production in the region. Several organizations have been targeting to boost disease awareness and accelerate the quest for treatment across America. The report claims that these factors will result in a high intake of pea protein powders as they are naturally vegan and gluten-free, making them a preferred nutritive option for people with celiac diseases.
Cosucra-Groupe Warcoing, Burcon Nutrascience Corporation, Roquette Freres, Farbest Tallman Foods Corporation, Shandong Jianyuan Group, The Scoular Company, Sotexpro, Yantai Oriental Protein Tech Co., Ltd., Fenchem, Prinova Group LLC, Glanbia Plc, and Martin & Pleasance are some of the key players profiled in the industry. These companies are adopting collaborative business strategies to expand their footprint in the pea protein market.
Kunal Ahuja, Sarita Bayas