The powder form of the pea protein components is estimated to have a 7.6% YBBO over the forecast period. The bakery industry’s demand for pea protein ingredients is expected to increase with a CAGR of 9.9%. The US Pea Protein Ingredients Market is expected to dominate North American pea protein ingredients, with a 7.7% YBBO from 2023 to 2033.
DUBAI, United Arab Emirates, January 16, 2023 (GLOBE NEWSWIRE) — The pea protein ingredients market is projected to be valued at US$1.6B in 2023 and to increase to US$3.4B in 2033. Sales of pea protein components grow at a 7.9% CAGR over the forecast period.
Increasing demand for natural and organic plant-based food is driving demand for pea protein ingredients during the forecast period. Increasing adoption of pea protein ingredients for a healthy lifestyle and better substitutes among consumers increases market opportunities.
Increasing demand for pea protein ingredients in end-use sectors such as dietary supplements and baked goods and snacks is driving market growth. These industries increase the quality of food and beverage, iron deficiency, chronic diseases and other health-focused market shares.
Increasing demand by trainers and athletes for pea protein ingredients for healthy nutrition and built muscle mass is driving its market share. Healthcare manufacturers are increasing demand for pea protein ingredients by developing protein supplements to improve blood circulation, calcium absorption, and weight management. Increasing consumer awareness of clean-label products and organic foods further fuels the expansion of the pea protein ingredients market.
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Why Are Consumers Driving Demand for Pea Protein Ingredients?
People need to remember their wellness routines. Therefore, adopting pea protein components in a meal is a beneficial solution for a healthy lifestyle. Top manufacturers provide pea protein components as a useful substitute and retain nutrients among consumers.
In addition, consumers are turning to pea protein ingredients due to increased allergies to animal-based products during the forecast period. Therefore, end-user companies are innovating in different foodstuffs such as pasta, cookies, cakes and others with the adoption of pea protein ingredients.
These hypoallergenic foodstuffs are driving demand for pea protein ingredients in everyday meals and increasing market opportunities. The natural trait and increased awareness of a healthy heart has recently increased the demand for pea protein ingredients among consumers.
The pea protein ingredients market is expected to be worth US$3.4 Billion by 2033.
With a 7.9% CAGR, the global market is growing during the forecast period.
The market in the United States is expected to grow with a 7.7% CAGR through 2033.
With a 7.2% CAGR, the UK market is rising significantly over the forecast period.
The Chinese market is expected to grow at a 7.3% CAGR over the forecast period.
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Key manufacturers and leading vendors are expanding the market by launching excellent products based on consumers’ needs. These players focus on consumer expectations and develop better substitute products that complement their satisfaction.
Therefore, these players are using various marketing tactics to increase market growth. These marketing tactics are mergers, deals, partnerships and collaborations.
Some of the leading actors of the series pea protein ingredients market these:
A&B Materials Inc.
Nutri Peas Ltd.
Archer Daniels Midland Company
Kerry Group PLC
Axiom Foods, Inc.
LT Health Solutions
Prinova Group LLC
Burcon Nutrition Science
Cosucra Groupe Warcoin
Roquette Freres SA
AGT Food and Materials Inc.
World Food Processing LLC
Yantai T. Full Biotech Co. Ltd.
Suzhou Wanshen Flour Products Co.,Ltd.
Shandong Jindu Tallinn Food Co.,Ltd.
Recent Developments 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 is rolling out its new food products to all Starbucks locations in China. Their main menu is Beyond Beef Spicy & Sour Wrap, Classic Lasagna and others.
Pea Protein Ingredients Market by Category
By Product Type:
Bakery and Snacks
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table of contents
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/Classification
2.2. Market Definition/Scope/Limitations
3. Market History
3.1. Market Dynamics
3.2. Scenario Estimation
3.2.1. Demand in the Optimistic Scenario
3.2.2. Demand in the Likely Scenario
3.2.3. Demand in the Prudent Scenario
3.3. Opportunity Map Analysis
3.4. Product Lifecycle Analysis
3.5. Supply Chain Analysis
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