The powder form of pea protein ingredients is estimated to hold a CAGR of 7.6% during the forecast period. The bakery sector's demand for pea protein ingredients is projected to grow at a 9.9% CAGR. The U.S. Pea Protein Ingredients Market is expected to dominate the North American pea protein ingredients, holding a CAGR of 7.7% from 2023 to 2033.
DUBAI, United Arab Emirates, Jan. 16, 2023 (GLOBE NEWSWIRE) -- The pea protein ingredients market is estimated to be valued at US$ 1.6 Billion in 2023 and is rising to US$ 3.4 Billion by 2033. The sales of pea protein ingredients grow at a CAGR of 7.9% during the forecast period.
The growing demand for natural and organic plant-based food is increasing the demand for pea protein ingredients during the forecast period. The rising adoption of pea protein ingredients for a healthy lifestyle and better substitutes among consumers is driving market opportunities.
The rising demand for pea protein ingredients in end-use sectors such as dietary supplements and bakery & snacks is driving the market growth. These industries enhance the quality of food and beverages, increasing iron deficiency, chronic disease, and other health-driving market shares.
The increasing demand for pea protein ingredients for healthy nutrients and built muscle mass by trainers and sports players are driving market share. Healthcare manufacturers develop protein supplements to improve blood circulation, calcium absorption, and weight management, increasing the demand for pea protein ingredients. Rising consumer awareness towards clean-label products and organic food is further driving the pea protein ingredients market expansion.
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Why are Consumers Shifting Demand Towards Pea Protein Ingredients?
People need to remember their healthy lifestyle routines. Therefore, adopting pea protein ingredients in a meal for a wholesome lifestyle is a beneficial solution. The top manufacturers are providing pea protein ingredients as a beneficial substitute and maintaining nutrients among consumers.
Moreover, consumers are shifting towards pea protein ingredients due to rising allergies to animal-based products during the forecast period. Therefore, the end-user companies are innovating different types of food items such as pasta, cookies, cakes, and others with the adoption of pea protein ingredients.
These hypoallergenic food items are driving the demand for pea protein ingredients in their daily meal and are surging market opportunities. The natural property and growing awareness related to a healthy heart are driving the demand for pea protein ingredients among consumers in recent times.
Key Takeaways:
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The pea protein ingredients market is expected to have a valuation of US$ 3.4 Billion by 2033.
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With a CAGR of 7.9%, the global market is increasing during the forecast period.
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The market in the United States is anticipated to grow at a CAGR of 7.7% through 2033.
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With a CAGR of 7.2%, the U.K. market significantly uplifts during the forecast period.
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The China market is expected to grow at a CAGR of 7.3% over the forecast period.
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Who is Winning?
The key manufacturers and prominent vendors are driving the market expansion by launching excellent products as per consumers' requirements. These players focus on consumer expectations and develop better substitute products that complete their satisfaction.
Therefore, these players are making various marketing tactics to uplift market growth. These marketing tactics are mergers, agreements, partnerships, and collaborations.
Some of the prominent players in the pea protein ingredients market are:
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A&B Ingredients Inc.
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Nutri Pea Ltd.
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Archer Daniels Midland Company
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Kerry Group P.L.C.
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Cargill Incorporated
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The Scoular Company
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Axiom Foods, Inc.
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Batory Foods
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L.T. Health Solutions
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Prinova Group L.L.C.
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Burcon Nutrascience
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Cosucra Groupe Warcoing
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Glanbia Plc.
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Roquette Frerès SA
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A.G.T. Food & Ingredients, Inc.
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World Food Processing L.L.C.
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Yantai T. Full Biotech Co. Ltd.
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Suzhou Wanshen Flour Products Co. Ltd.
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Shandong Jindu Talin Foods Co. Ltd.
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Others
Recent Development in the Global Pea Protein Ingredients Market:
In 2020, Beyond Meat announced its partnership with fast food company Starbucks to introduce a new menu in China. Beyond Meat spreads its new food products across all Starbucks locations in China. Their main menus are Beyond Beef Spicy & Sour Wrap, Classic Lasagna and others.
Pea Protein Ingredients Market by Category
By Product Type:
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Isolates
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Concentrates
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Textured
By Application:
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Bakery and Snacks
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Dietary Supplements
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Beverages
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Meat Analog/Substitutes
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Others
By Foam:
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Powder
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Liquid
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Others
By Region:
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
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