Pea Protein Ingredients Market Size is Anticipated to Reach USD 15.1 Billion and Grow at 11.19% CAGR by 2024–2032, Owing to Rising Needs for Plant-based Protein Substitutes.
Pea Protein Ingredients Market Research Report Overview
Introduction
The global pea protein ingredients market has been experiencing rapid growth as consumers increasingly seek plant-based and sustainable protein sources. Pea protein, derived from yellow peas, offers a rich source of amino acids, is allergen-friendly, and boasts significant nutritional benefits. This blog provides an overview of the pea protein market, covering its segmentation by type and application.
Market Segmentation
By Type
- Isolates: Pea protein isolates, with protein concentrations of over 85%, are highly purified forms. These isolates are popular in dietary supplements, sports nutrition products, and high-protein functional foods due to their superior amino acid profile and digestibility.
- Concentrates: Concentrates generally have a protein concentration of 50-70%. They are often used in food products where functionality, such as water retention and textural enhancement, is a priority.
- Textured: Textured pea protein is primarily used in meat substitutes and alternatives. It provides the chewiness and fibrous texture required in plant-based meat products, making it an excellent choice for vegan and vegetarian consumers.
By Application
- Food & Beverages: Pea protein is commonly incorporated into various food products, including energy bars, breakfast cereals, and plant-based dairy alternatives.
- Meat Substitutes: With the rising popularity of vegan diets and environmental sustainability concerns, pea protein has become a vital ingredient in creating plant-based meat alternatives such as burgers, sausages, and nuggets.
- Bakery & Confectionery: In the bakery and confectionery segment, pea protein enhances nutritional value and provides structure and moisture retention to products like bread, cookies, and cakes.
- Beverages: Protein-enriched beverages, including plant-based milk, smoothies, and protein shakes, benefit significantly from the use of pea protein due to its solubility and neutral taste profile.
- Dietary Supplements: Health-conscious consumers are turning to pea protein supplements for muscle building, weight management, and overall health. Its hypoallergenic nature makes it a favored alternative to whey and soy proteins.
- Sweet & Savory Snacks: Manufacturers of snack foods are leveraging pea protein’s benefits to create high-protein chips, crackers, and extruded snacks to meet consumer demand for healthy yet indulgent options.
- Infant Nutrition: Pea protein serves as a protein source in hypoallergenic infant formulas, catering to infants with sensitivities to traditional dairy-based products.
- Others: The “others” category includes niche applications such as pet food and pharmaceutical products, where pea protein’s functional benefits are utilized.
Market Drivers and Trends
- Rising Veganism and Plant-Based Diets: The surge in vegan and vegetarian lifestyles globally is a primary driver of the pea protein market. Consumers are increasingly seeking cruelty-free and environmentally friendly protein sources.
- Health and Wellness Trends: Pea protein’s natural and non-allergenic profile aligns well with health-conscious consumers seeking clean-label products.
- Technological Advancements: Innovations in extraction and processing techniques have improved pea protein’s taste, texture, and solubility, making it more versatile for different applications.
- Sustainability: Pea protein production has a lower carbon footprint compared to animal-based protein sources, aligning with global sustainability goals.
Company Key Players- Archer Daniels Midland Company, Kerry Group PLC, Cargill Incorporated, Cosucra Groupe Warcoing SA, The Scoular Company, A & B Ingredients Inc, Nutri-Pea Limited, Prinova Group LLC, Roquette Frères S.A., Burcon NutraScience Corporation, and Ingredion Incorporated
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