Textured Pea Protein Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Textured Pea Protein Market grew at a CAGR of 6.1% between 2017-2021 and is estimated to be US$ 479.2 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 6.9% and is expected to reach a valuation of US$ 933.9 Mn by 2032 end.
During the forecast period, the market is expected to increase due to several important factors, including the rising number of vegans, the popularity of plant-based foods and gluten-free goods, and the nutritional advantages of products made from peas. Pea protein powder is frequently utilized to improve the protein content of protein shakes, smoothies, and energy beverages. Because it is naturally vegan and hypoallergenic, it is a great fit for practically any diet. It is a fantastic source of protein and iron.
Additionally, it is thought to support heart health, weight loss, and muscle building. It has been demonstrated that the protein included in peas, namely yellow peas, is mild on the kidneys and can lower blood pressure and cholesterol.
GROWING VEGAN POPULATION AND THE POPULARITY OF PLANT-BASED PRODUCTS
The market for pea proteins is predicted to increase due to consumers’ increased focus on their health and replacing traditional meat products like sausages and patties with plant-based alternatives. The market for plant-based proteins is anticipated to develop throughout the estimated period as the number of vegan and flexitarian consumers rises. Over half of all registered items come from businesses headquartered outside the United Kingdom.
The Vegan Trademark is registered in most developed nations on the planet. The top international food manufacturing companies, like Flora, Alpro, Asida Ald, LUSH Mars Costa Coffee, Nestie New Look, and Burger King, are introducing a variety of interesting food product possibilities. Pea Protein is, therefore, a highly sought-after alternative protein source.
COST INEFFECTIVENESS OF RAW MATERIAL
France’s pea production was also impacted because of the crops’ heavy damage from the rainy season during harvest. The industry is suffering from the effects of pea scarcity as the demand for peas increases gradually due to the introduction of numerous new plant-based food items in various forms. According to estimates, the sharp rise in prices will surely result in cost-transfer to consumers. Consequently, the market’s growth ability is constrained by the fluctuating availability of raw materials and increasing costs.
INCREASING FOCUS ON INNOVATION AND DEVELOPMENT OF BETTER PEA PROTEIN EXTRACTS & PRODUCTS
Food technology businesses optimize the component at every stage of manufacturing to appeal to plant-based meat producers, from the field-grown peas to the machinery used to extract the protein. Companies are attempting to increase the number of proteins extracted from raw materials to include the most possible in their finished products because many consumers consider a product’s maximal protein content to be a crucial criterion when selecting a product. The firms are working to enhance flavor and nutritional density, two important characteristics.
Market Segments Covered in Report
By Product Type:
By Processing Type:
By Region and Country:
Why is the dry processing form pea protein estimated to have huge growth in the market during the forecast period?
Due to its wider range of uses and superiority over wet pea protein, the dry form of pea protein is the more prevalent form. Due to their qualities and high demand across a variety of applications, dry-textured pea proteins hold a dominating position in the market.
The demand for these proteins in products like plant-based meat has improved the market outlook for dry-textured pea proteins. They are frequently used as dietary supplements made with yellow protein pea extract. It is typically a protein filler in goods like smoothies and workout shakes.
Why is food processing projected to see a huge jump in the market during the forecast period?
Pea protein, which is currently employed in producing plant-based sausages and burger patties, has grown due to the rising demand for meat substitutes. As a result of issues including lactose intolerance, athletes have begun switching from whey protein to vegan protein substitutes like pea protein, which has led to a significant expansion in the use of performance nutrition.
Meat alternatives, functional foods, bakery goods, confectionery, protein powders, sports/protein beverages, and protein bars/meal replacement bars are all included in the food category. Due to the increasing use of pea proteins in food applications, which makes it healthier and more favored by consumers, the meat alternatives market has taken the lead.
Why are the yellow split peas projected to account for the fastest growth during the forecast period?
One of the pea sources that product producers most frequently choose is yellow split peas. This is a result of peas’ versatility and adaptability to many product types, boosting demand for yellow split peas in various goods, including beverages, functional meals, performance nutrition, and plant-based meat. Yellow split peas are perfect for producing pea protein isolates due to their high protein content.
Comparing them to alternatives made from dairy and meat, they are valued for their amino acid composition, which led to their classification as “whole proteins.” 370 calories, 0 grams of fat, 67 grams of carbs (27 grams of fiber, 3 grams of sugar), 27 grams of protein, and 25% of the RDA of iron are all found in 100 grams of a yellow split pea.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
These actions have enabled market participants to increase their clientele and revenue. With the increasing demand for textured Peas Protein worldwide, market players can anticipate attractive growth prospects in the future.
Some of the key developments that have taken place in the Textured Pea Protein Market include the following:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Product Type, Nature, End-use, Processing Type, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 6.9%.
Growing vegan population and the popularity of plant-based products.
Major global Textured Pea Protein Market players are Rouquette Freres and DuPont. Puris Foods, Ingredion, Emsland Group, Fenchem Inc, The Green Labs LLC, A&B Ingredients, Glanbia PLC, Axiom Foods Inc, The Scoular Company, Burcon Nutrascience Corp Cosucra Groupe Warcoing, SotexPro, AGT Foods, Shandong Jianyuan Foods Co., Ltd., Yan Tai Shuang Ta Food Co.Ltd, Kerry Inc, Batory Foods
The industry is suffering from the effects of pea scarcity as the demand for peas increases gradually due to the introduction of numerous new plant-based food items in a variety of forms.
North America is expected to account for the largest market revenue share in the Global Textured Pea Protein market.
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