Market Research Future Insights
According to MRFR analysis, the global Pea Protein market is expected to register a CAGR of 12.1% from 2022 to 2030 and hold a value of over USD 3.1 billion by 2030.
The pea protein market refers to the industry that produces and sells protein extracted from peas. Pea protein is a plant-based protein source that has gained popularity in recent years due to its many health benefits and versatility.
Pea protein is an excellent source of amino acids, making it a popular choice for vegetarians and vegans looking for a protein source. It is also hypoallergenic, gluten-free, and easy to digest, making it an ideal protein source for people with dietary restrictions or digestive issues.
The global pea protein market is expected to grow significantly in the coming years, driven by the increasing demand for plant-based protein sources and the growing awareness of the health benefits of pea protein. The market is also likely to be influenced by technological advancements in pea protein extraction and processing.
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Market Segmentation
The Global Pea Protein market has been segmented into Type, Source, Category, and Application
Based on the Type, the market has been segmented into Concentrate, Isolate, Textured.
Based on the Source, the market has been segmented into Yellow Spit Pea, Chickpea, Lentils
Based on the Application, the market has been segmented into Dietary supplement, Bakery & confectionery good, Meat products & alternative, Beverage
Key Players
Some of the key market players are A&B Ingredients, Axiom Foods Inc, Ingredion Corporation, Cosucra Groupe Warcoing, GEMEF Industries, Glanbia Plc, Green Labs, Roquette Frères, AGT Food and Ingredients, Yantai Shuangta Food Co. Ltd.
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Regional Analysis
In North America, the United States is the largest market for pea protein, followed by Canada. The increasing demand for plant-based protein sources and the growing trend of vegetarian and vegan diets are driving the growth of the pea protein market in these countries
In E.urope, countries like Germany, the United Kingdom, and France are leading the pea protein market due to the increasing demand for plant-based protein sources, particularly among millennials and the younger population. The pea protein market in Europe is also driven by the growing trend of health and wellness and the increasing awareness of the environmental impact of animal-based protein sources.
The Asia Pacific region is also a significant market for pea protein, with increasing demand in countries like China, Japan, and Australia. The growing trend of health and wellness and the increasing awareness of the benefits of plant-based protein sources are driving the growth of the pea protein market in these countries.
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