The global pea protein market was valued at USD 580.61 million in 2023 and is expected to grow from USD 649.36 million in 2024 to USD 1,644.67 million by 2032, at a compound annual growth rate (CAGR) of 12.32% during the forecast period (2024-2032). North America led the pea protein market with a share of 36.33% in 2023. Additionally, the U.S. pea protein market is projected to experience significant growth, reaching an estimated value of USD 396.14 million by 2032. This growth is driven by the increasing demand for plant-based and healthy protein ingredients in products such as energy bars, healthy snacks, protein shakes, and more.
Pea is a leguminous plant whose seeds contain a significant amount of protein (20–30%), primarily in the form of globulins, which are the key components in Pea Protein Isolate (PPI) products. Pea protein can be produced using wet-milling or dry-milling technologies, with protein content ranging from 48% to 90%. PPI and concentrates offer several essential functional properties, including nutritional benefits, oil-binding capacity, water-binding capacity, foam stability, foam expansion, whip ability, emulsion stability, gelatin properties, and emulsion ability ratio. These functional characteristics contribute to the versatility and appeal of pea protein in various food and beverage applications.
Information Source: https://www.fortunebusinessinsights.com/pea-protein-market-106053
List of Key Players Profiled in Market:
Segments:
By type, the market is trifurcated into isolates, concentrate, and textured.
Based on application, the market is segregated into meat substitutes, baked goods, dietary supplements, beverage, and others.
By region, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.