Cibi e Bevande
Pea Protein Market to Reach $227.1 Million, Globally, by 2032 at 9.2% CAGR: Allied Market Research
Pea protein has garnered a lot of attention in the recent years. Pea protein is a good vegan substitute for animal proteins in sports nutrition products. It can be used to enhance the quality and browning of baked products made without gluten as well as the texture of processed fish and meat products.
The growth of the global pea protein market is driven by the high nutritional profile of pea proteins, high demand for plant-based proteins from vegan population, and consistent growth of the food & beverages industry. However, increase in market penetration of other proteins, formulation challenges in pea protein products, and low consumer awareness about pea protein-based products hamper the growth of the market. On the contrary, surge in demand for pea protein-based sports nutrition & weight management products and pea proteins as alternative protein source for pet food is expected to offer remunerative opportunities for the expansion of the pea protein market during the forecast period.
Consistent growth of the food & beverages industry
Low consumer awareness about pea protein-based products
Depending on type, the pea protein isolate segment dominated the market in 2022, garnering more than half of the market share, and is predicted to maintain its leadership throughout the forecast period, as pea protein isolates are more suited for dietary supplements in the sports nutrition sector since they have a protein concentration of 80–95%. The textured pea protein segment is expected to grow at the highest CAGR of 9.7% from 2023 to 2032, as they serve as an ideal source of protein and fiber, having zero cholesterol. They are used as meat replacements or analogues for beef, poultry, and fish.
By form, dry segment dominated the market in 2022, garnering nearly three-fourths of the market share, as dry pea proteins are mainly used in dietary supplements, bakery & confectionery goods, meat products, and alternatives. Low cost, excellent emulsification, good water binding characteristics, and high nutritional profile have made them a preferable choice among other food additives.. Moreover, liquid segment is expected to grow at the highest CAGR of 9.4% from 2023 to 2032, owing to rise in consumption of liquid pea protein by working adults to maintain a healthy lifestyle is anticipated to drive the global market growth during the forecast period.
Based on application, the dietary supplement segment dominated the market in 2022, garnering more than three-fifths of the market share, as consumer preferences for a nutritious diet have changed as a result of growth in health consciousness and the objective to live a healthy lifestyle. Moreover, meat products & alternative segment is expected to grow at the highest CAGR of 9.9% from 2023 to 2032, as consumers striving for a healthier lifestyle have been driving the adoption of plant-based meat products.
Based on region North America dominated the market in 2022, garnering more than one-third of the market share, owing to the well-established food & beverages sector and growth in concerns about animal products & proteins. Asia-Pacific is predicted to have the highest CAGR of 9.7% during the forecast period as the demand for healthy and multifunctional pea protein has been increasing significantly by consumers.
The report provides a detailed analysis of these key players of the global pea protein market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware . Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington , New Castle ,
Delaware 19801 USA.
+1-503-894-6022
+1-800-792-5285
+1-800-792-5285
help@alliedmarketresearch.com
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/pea-protein-market-to-reach-227-1-million-globally-by-2032-at-9-2-cagr-allied-market-research-302603956.html