Pea Protein Ingredients Market Report Prominent Regions, Drivers, and Prospects 2030
Market Research Future Insights
The
Pea Protein Ingredients Market is enrolling in high growth due to the high
demand for vegan and vegetarian protein ingredient sources. The manufacturers
are concentrating on innovative products and technology with the help of
widespread research and development to enhance product quality. The rising
demand for protein ingredients in various end-use industries is herding the
growth of the pea protein ingredients industry.
One
of the main factors contributing to the escalating adoption of pea protein
ingredients is the growing cognizance of the benefits of protein ingredients
among consumers. In addition to that, the rising embracement of a high-protein
diet by consumers is boosting the sales of products with high protein
ingredient content. Correspondingly, as consumers are getting aware of pea
protein as an alternative to animal-sourced protein, the demand for pea protein
ingredients is escalating. Also, growing interest regarding lactose intolerance
among people is augmenting the demand for an alternative for protein
ingredients sourced from milk and milk derivatives.
Pea
protein ingredients are growing acceptance widely, owing to the enlarging
health concerns among the population. Pea protein is gathering popularity among
consumers owing to its cost-effectiveness over other alternatives in the market
similar to soy, wheat, rice, and others.
The
global Pea
Protein Ingredients market overview is anticipated to grow at a CAGR
of 13.4% and is projected to increase to USD 12.31 Billion by the end of the
projected period in 2030.
Regional Analysis
The
global Pea Protein Ingredients market has been segmented into North America, Europe,
Asia- Pacific, and the rest of the world.
North
America is esteemed for the largest market share in 2021. The region’s
supremacy and growth can be attributed to the boosted consumption of healthy
food and beverages among health-conscious people. Moreover, the embracement of
veganism among consumers in the US and Canada is the requisition for vegan
protein ingredients.
Asia-
Pacific is anticipated to be the rapidly- growing regional market in the pea
protein ingredients market. Growing demand for alternatives for animal protein
is majorly punching the growth of the pea
protein ingredients market report in this region.
The
section is followed by Europe, which is initially led by the F&B sector. In
2021, about 93% of the pea proteins in the region were exercised in the F&B
sector. The Middle East is projected to be a rapidly- growing market, as the
demand for natural and sustainable ingredients is briskly growing due to the
elevation in health awareness among consumers.
Market Segmentation
The
global Pea
Protein Ingredients market is segmented into following;
By Type
- Isolates
- Concentrates
- Textured
By
Application
- Food
& Beverages
- Meat
Substitutes
- Bakery
& Confectionery
- Beverages
- Dietary
Supplements
- Sweet
& Savory Snacks
- Infant
Nutrition
- Others
- Animal
Feed
- Others
Key Players
The
global Pea
Protein Ingredients market’s prominent key players are Archer
Daniels Midland Company (US), Kerry Group PLC (Ireland), Cargill
Incorporated (US), CosucraGroupeWarcoing SA (Belgium), The Scoular Company
(US), A & B Ingredients Inc. (US), Nutri-Pea Limited (Canada),
Prinova Group LLC (US), Roquette Frères S.A. (France), Burcon NutraScience
Corporation (Canada), Ingredion Incorporated (US), Batory Foods (US), Cambridge
Commodities Inc. (UK), PLT Health Solutions (US) and Axiom Foods Inc.
(US)
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