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The food industry is continuously searching for healthier and cheaper protein ingredients that can be replaced by animal-based and gluten-based proteins. Pea protein is beneficial due to its low allergenicity, availability, and high nutritional value. The Global Pea Protein Ingredients Market is witnessing a major rise in its revenue from US$ 2.35 Bn in 2021 to US$ 6.78 Bn by 2030. The market is recording a CAGR of 12.5% during the forecast period. In terms of volume, the market is recording a CAGR of 6.7% over the forecast period 2022-2030. The market is majorly driven by the shift in consumer demand towards organic, natural, and healthy food products and rising obesity and cardiovascular diseases. Green peas have a low-calorie content, with only 62 calories per 1/2-cup. Also, pea protein powder is naturally free from fats and cholesterol, unlike whey and casein, and is processed in a ‘greener’ and more environmentally friendly way. Thus, the rising adoption of healthy lifestyles and healthy products by individuals is fueling the market growth. Moreover, rising obesity and cardiovascular diseases are also propelling the market growth.
According to WHO, CVDs are the leading cause of death globally, an estimated 17.9 million people died from CVDs in 2019. Pea protein is high in fiber and can help prevent cardiovascular disease and help in the reduction of blood pressure by decreasing the levels of cholesterol. Further, pea protein may also be helpful in curbing hunger, thereby helping people with food cravings and obesity to lose weight. Furthermore, the rising food & beverage industry is providing a lucrative opportunity for market expansion. However, the availability of alternative proteins such as soy, wheat, and whey are hindering the market growth.
The study of the global Pea Protein Ingredients Market considers various market determinants, industry value chain analysis, and competitor analysis of the market. The report discusses the analysis of the pea protein industry for the period 2017-2030, where the base year is 2021 and the forecast period is 2022-2030. The report provides a detailed analysis of the global Pea Protein Ingredients Market across 15 Chapters and 210 pages. The report includes data presentation across 67 tables and 123 statistical figures.
The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides Porter’s five forces analysis wherein the bargaining power of sellers and intensity of rivalry is high.
The subsequent section provides details of the market analysis based on different segments such as type, source, form, application, and region. The report includes a detailed study of the value chain of the industry. It includes raw material providers, pea protein manufacturers/ processors, distributors, and end-users. The report also covers extensively the key competitors in the market for pea protein ingredients.
Segmental Analysis of the Global Pea Protein Ingredients Market:
The following are the various segments of the Global Pea Protein Ingredients Market:
By Type segment of the Global Pea Protein Ingredients Market is sub-segmented into:
By Source segment of the Global Pea Protein Ingredients Market is sub-segmented into:
By Form segment of the Global Pea Protein Ingredients Market is sub-segmented into:
By Application segment of the Global Pea Protein Ingredients Market is sub-segmented into:
By Regionsegment of the Global Pea Protein Ingredients Market is sub-segmented into:
Global Pea Protein Ingredient Market was valued US$ 2.35 Bn in 2021.
Pea proteins are a popular alternative to the conventional protein products due to their high protein content with interesting functionality, sustainability, availability, affordability and hypo-allergenicity.
The main health benefits of pea protein include a good amino acid profile that helps build muscle mass, improve blood sugar and other metabolic benefits, and control appetite.
The Global Pea Protein Ingredient Market is projected to expand at a CAGR of 12.5% during the forecast period.
The market is majorly driven by factors such as the shift in consumer demand towards organic, natural, and healthy food products and rising obesity and cardiovascular diseases.
The availability of alternative proteins such as soy, wheat, and whey are restraining the market growth.
Rising food and beverage industry is providing a lucrative opportunity for market growth.
Pea protein isolates segment dominates the Global Pea Protein Ingredient Market in 2021.
Dry form type leads the Global Pea Protein Ingredient Market in 2021.
Dairy alternatives segment holds the highest market share in 2021.
North America dominates the Global Pea Protein Ingredient Market.
The key players in the Global Pea Protein Ingredient Market are Archer Daniels Midland Company, Burcon NutraScience Corporation, DuPont de Nemours, Inc., Farbest Brands, Glanbia PLC, and Ingredion Inc. among others.