According to a recent survey conducted by ChemView Consulting, the Global Pea Protein Market grew at a CAGR of 8.7% between 2017-2021 and is estimated to be US$ 354.9 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 9.8% and is expected to reach a valuation of US$ 903.9 Mn by 2032 end.
Growth will be driven by increased demand for the product due to growing consumer awareness of healthy eating and active lifestyles. Furthermore, increasing product innovations in manufacturing that offer specific functions such as energy balance, weight loss, muscle repair and satiety are expected to create enormous market potential. Extracted from several pea varieties, including chickpeas, and available in concentrated, textured, isolated forms.
These products are made from plant-based ingredients, making them vegan. Ideal for consumers choosing their diet. In addition, they are non-toxic, non-allergenic and easily digestible and have potential applications in beverages, meat substitutes, dietary supplements and baked goods. Increasing importance of flexible diet is expected to continue to be a favorable factor for market growth as concerns about heart effects related to red meat consumption are increasing. Additionally, growing awareness of the adverse effects of foods containing both gluten and lactose is expected to play a key role in driving product demand over the projected years. Increasing consumption of functional foods is expected to increase the demand for the product. Rising demand for protein supplementation in foods leads to new product launches by food and beverage companies, which is expected to have a positive impact on market growth. Growing awareness of consuming protein powders to promote bone health and muscle growth is also expected to boost market growth during the forecast period.
Pea protein is under threat of substitution by alternative ingredients such as hemp, soy and whey.Rice protein is another ingredient that is gaining attention around the world. Nutritionally, both pea and rice proteins contain similar protein levels (typically 15-22 grams per 100-calorie serving), are gluten-free and allergy-friendly. Whey protein consumption is increasing due to its benefits. B. Stimulation of muscle growth and easy digestibility limit the use of pea protein, thereby hindering market growth.
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A list of some of the key suppliers present in the market 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.
- Martin & Pleasance
- The Green Labs LLC
Report Coverage and Highlights
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
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About ChemView Consulting:
ChemView Consulting is a leading market research firm in the Asia Pacific, with expertise in Chemicals & Materials, Food & Beverages, Packaging, Oil & Gas, New & Renewable Energy, and Disruptive Technologies. We are one of the top market intelligence firms specializing in business analytics with an expertise in the ever-growing chemicals industry. We track high-growth markets with innovative ideas and opportunities insights through B2B research.
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