Report ID: SQMIG30I2259
Pea Protein Market Size, Share, Growth Analysis, By Product(Isolates, Concentrates, Textured, and Hydrolysates), By Form(Dry and Wet), By Source(Yellow Split Peas and Others), By Application(Food & Beverages, Personal Care & Cosmetics, Animal Feed, and Others), By processing method(Wet processing method, Dry processing method), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2259 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|
Tables:
115 |
Figures:
77
Pea Protein Market Regional Insights
North American dominated the market in 2023 with a share of revenue of 32.9% thanks to a strong consumer demand in plant-based goods, a thriving food and beverage sector, and an abundant agricultural crop of yellow split peas. A survey from Sprouts Farmers Market in 2021 found that more Americans (47%) identify as flexible eaters and consume more plant-based meals than meat, reflecting an increase in the acceptance of plant-based diets and animal alternatives in the U.S.
Asia Pacific is anticipated to expand at a compound annual growth rate (CAGR) of 13.0% from 2024 to 2031 due to a growing population and changing dietary habits. Due to the expanding food and beverage sectors in India, China, & Australia, pea protein is now present in a wide range of products. Additionally, China's pea protein market in the Asia Pacific region expanded to become the largest with a share of revenue of 25.0% in 2023, benefited by the growth in the plant-based food industry & the challenges associated with common allergies. The Indian pea protein market is expected to grow at the fastest CAGR of 14.5% between 2024 and 2031, driven by significant demand in the food and beverage industry, particularly in the bakery and snacking categories.
Pea Protein Market Report Snapshots
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