According to the recent FMI report, the pea protein market size is anticipated to cross a value of US$ 204.5 Million in 2032. As per the pea protein market analysis report, currently, its net worth is around US$ 65 Million, and it is expected to grow at an impressive CAGR of 11.8% approximately between 2022 and 2032.
Over the past few years, consumption of a diet high in protein content has rapidly increased as a result of rising health consciousness among consumers globally. Consumers are driven to hunt for nutrients in packaged food products because of their increasingly hectic lifestyles creating a huge opportunity for all types of alternatives, including pew protein powder.
The main factors driving the adoption of a pea protein-rich diet are the expanding fitness habits, especially among millennials, and the increased prevalence of chronic illnesses brought on by altered lifestyles. Growing consumer interest in sports nutrition products as a result of growing knowledge about bone and muscle health is also anticipated to drive the pea protein market expansion during the forecast years.
Pea Protein Market Size is Getting Fuelled by Customers’ Conscientious Efforts to Eat Healthy: Future Market Insights, Inc.
The needs of customers that are shifting, and a growing focus on goods that are non-GMO, gluten-free, and hexane-free are anticipated to drive R&D in the pea protein market and drive its growth. The cost of the organic pea protein is largely influenced by the product’s production process, the characteristics of the created product, and the cost of obtaining numerous permits resulting in favorable opportunities for the new entrants.
Key Takeaways from the Pea Protein Market Study:
- Pea protein isolate is the most popular product type of this market sector making it the largest segment with a share of more than 50% of total sales
- In 2021, North America accounted for about 44% of global revenue, dominating the pea protein industry worldwide.
- The demand for the textured pea protein in meat processing is expected to expand as a result of the existence of key meat product companies in the U.S., including JBF, Tyson, National Foods, and Cargill.
“In the upcoming years, the Asia Pacific pea protein market is anticipated to grow at the fastest rate due to the rising demand for functional food products that are fortified with nutrients.” — opines an expert at FMI.Competitive Landscape
US, France, Spain, U.K., and Germany, Italy are the major countries driving demand for Pea Protein Market. The name of some of the renowned pea protein market key players are Burcon Nutrascience, Roquette Freres, The Scoular Company, DuPont, Cosucra Groupe Warcoing SA, Nutri-Pea Ltd., Shandong Jianyuan Group, Sotexpro SA, Ingredion, Inc., Axiom Foods, Inc., Fenchem Inc., and Martin & Pleasance.
Get Valuable Insights into Pea Protein Market
FMI, in its new offering, provides an unbiased analysis of Pea Protein Market presenting historical demand data (2017–2022) and forecast statistics for the period from (2022–2032). The study divulges compelling insights on the demand for Pea Protein based on by Nature (Organic, Conventional), Product Type (Protein Concentrates, Protein Isolates, Textured Protein, Hydrolysed Protein), End Use (Food Processing, Animal Feed, Nutraceuticals, Sports Nutrition, Infant Nutrition, Cosmetic and Personal Care), by Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa )