According to Meticulous Research®, the global pea protein isolate market is projected to experience significant growth in the coming years. Valued at $542.9 million by 2029, the market is expected to grow at a compound annual growth rate (CAGR) of 16.4% from 2022 to 2029. In terms of volume, the market is set to reach 135.2 thousand metric tons (MT), growing at a CAGR of 13.8% during the same period.
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Key Drivers and Growth Opportunities
The surge in the pea protein isolate market is driven by several factors:
- Rising Awareness of Plant-Based Nutrition: Increasing consumer awareness regarding the health benefits of plant-based diets.
- Organic Ingredients in F&B Sector: Growing importance of organic ingredients in food and beverages.
- Expansion of Plant-Based Food Market: A booming market for plant-based foods, particularly among health-conscious consumers.
- Nutritional Benefits of Pea Protein: Recognized benefits such as digestive health, cholesterol control, and blood sugar regulation.
Emerging markets also present significant opportunities for growth, although the preference for animal-based proteins remains a notable challenge.
Market Segmentation Insights
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By Source:
- Yellow Peas: Dominating the market with the largest share in 2022 due to high protein content and health benefits. Expected to grow at the highest CAGR.
- Green Peas
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By Source Process:
- Conventional Pea Protein Isolate: Leading due to lower costs, longer shelf life, and variety of crops.
- Organic Pea Protein Isolate: Fastest-growing segment driven by clean label trends and increasing organic product sales.
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By Processing Method:
- Dry Processing: Largest share in 2022 attributed to low capital requirements and reduced resource consumption.
- Wet Processing: Expected to grow at the highest CAGR due to higher protein content and purity.
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By Form:
- Powder: Leading segment in 2022 due to ease of handling, cost-effectiveness, and ingredient stability.
- Liquid: Rapid growth anticipated, driven by demand in dairy alternatives and innovative product applications.
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By Application:
- Nutrition & Health Supplements: Largest share in 2022 due to health trends and nutritional benefits.
- Meat & Alternative Meat Products: Fastest-growing segment, propelled by increasing veganism and new product launches.
Regional Insights
- North America: Largest market share in 2022, driven by a robust food and beverage industry, increasing vegan population, and high demand for meat alternatives.
- Asia-Pacific: Highest CAGR expected, due to growing awareness of protein-rich diets, a booming food and beverage industry, and a large vegan population.
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Leading Market Players
Prominent players in the global pea protein isolate market include: Roquette Frères Le Romain (France), AGT Food and Ingredients Inc. (Canada), Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), Archer-Daniels-Midland Company (U.S.), E.I. Dupont De Nemours and Company (U.S.), Glanbia Plc. (Ireland), Cosucra Groupe Warcoing SA (Belgium), Farbest Brands (U.S.), Shandong Jianyuan Foods Co., Ltd. (China), The Emsland Group (Germany), and Nutri-Pea Ltd. (Canada).
This comprehensive market study covers historical data (2020 and 2021), current estimates (2022), and forecasts for 2029, segmented by source, source process, processing method, form, application, and geography. It also includes an analysis of industry competitors and country-level market insights.
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