Meticulous Research®, a leading global market research firm, has published its latest report titled "Pea Protein Market—Global Opportunity Analysis and Industry Forecast (2024-2031)." This research indicates that the pea protein market is set to achieve a remarkable valuation of $1.31 billion by 2031, growing at a compound annual growth rate (CAGR) of 14.2% from 2024 to 2031.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5054?utm_source=article&utm_medium=social&utm_campaign=product&utm_content=23-09-2024

Market Drivers and Growth Factors
The surge in the pea protein market can be attributed to a confluence of factors, including the growing demand for plant-based nutrition, heightened health and wellness trends, and a burgeoning plant-based food sector. As consumers become increasingly aware of the nutritional benefits of peas and pea-derived products, the market is witnessing significant momentum. Furthermore, key industry players are innovating to develop advanced pea protein ingredients, thereby enhancing product offerings and driving market growth.

The rising interest in plant-based diets is reshaping consumer preferences, as individuals seek healthier alternatives to traditional protein sources. This shift is being fueled by increased awareness of the environmental and health benefits associated with plant-based nutrition, leading to a notable uptick in the consumption of pea protein as a versatile ingredient in various food applications.

Competitive Landscape and Key Players

The pea protein market features a moderately competitive landscape, characterized by the presence of numerous global, regional, and local players. Notable companies operating in this space include:

Roquette Frères (France)
AGT Food and Ingredients Inc. (Canada)
Cargill, Inc. (U.S.)
Ingredion Incorporated (U.S.)
Archer-Daniels-Midland Company (U.S.)
Axiom Foods Inc. (U.S.)
Burcon NutraScience Corporation (Canada)
Glanbia Plc. (Ireland)
Cosucra Groupe Warcoing SA (Belgium)
Sotexpro Sa (France)
Farbest-Tallman Foods Corporation (U.S.)
Shandong Jianyuan Foods Co., Ltd. (China)
The Emsland Group (Germany)
Nutri-Pea Ltd. (Canada)
These companies are strategically positioning themselves through research and development initiatives, partnerships, and innovations in product formulations to capture a larger share of the growing market.

Market Segmentation and Insights

The pea protein market is segmented into several categories, including type, source, processing method, form, application, and geography.

By Type: The yellow pea proteins segment is anticipated to dominate the market in 2024, accounting for 94.7% of the market share. This dominance is driven by the high protein content of yellow peas, their widespread use in protein isolates, and their role in high-performance nutrition products. Yellow split peas offer a rich source of plant-based protein, dietary fiber, and essential nutrients, making them a favored ingredient in various food formats, including plant-based burgers and dairy alternatives.

By Source: The conventional pea protein segment is expected to maintain its leading position in 2024. Factors contributing to this trend include the longer shelf life of conventional pea protein, its lower production costs compared to organic alternatives, and the availability of diverse crop varieties.

By Processing Method: The dry processing segment is projected to dominate due to its cost-effectiveness, requiring lower capital investment and minimizing energy and water usage compared to wet processing methods. The increasing demand for dry protein components among manufacturers further supports this trend.

By Form: Solid pea protein is anticipated to hold the largest market share in 2024. This is attributed to the ease of manufacturing solid proteins, their versatility across various applications, and their superior stability compared to liquid counterparts.

By Application: The nutrition and health supplements segment is projected to command a significant share, accounting for 36.4% of the market in 2024. This growth is driven by the increasing demand for nutritious food options and the recognized benefits of pea protein in dietary supplements and sports nutrition products.

Regional Insights and Market Dynamics

The report provides an in-depth analysis of the pea protein market across major regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

North America: This region is expected to dominate the pea protein market, capturing a significant share of 42.4% in 2024, equivalent to $219.9 million. The robust food and beverage sector, along with rising concerns regarding animal protein and a growing vegan population, are key factors driving market growth. Additionally, the increasing inclination toward meat substitutes and wholesome, nutritious products is further fueling demand for pea protein in the region.

Europe: The European market is witnessing steady growth, driven by the rising popularity of plant-based diets and the increasing incorporation of pea protein in various food products. The region's focus on health and sustainability continues to bolster the demand for alternative protein sources.

Asia-Pacific: The Asia-Pacific region is emerging as a vital market for pea protein, driven by rising health consciousness and a burgeoning interest in plant-based foods. With an expanding middle class and increasing disposable incomes, demand for nutritious food options is on the rise.

Latin America and the Middle East & Africa: These regions present significant growth opportunities due to changing dietary habits and increased focus on health and wellness. The growing availability of pea protein products is expected to drive market expansion in these areas.

Read Full Report:- https://www.meticulousresearch.com/product/pea-protein-market-5054?utm_source=article&utm_medium=social&utm_campaign=product&utm_content=23-09-2024

Conclusion
The future of the pea protein market looks promising, with significant growth anticipated over the next several years. As consumers increasingly gravitate toward plant-based nutrition, industry players must innovate and adapt to meet evolving consumer demands. With a competitive landscape characterized by strategic partnerships and product development, the pea protein market is poised for substantial growth, providing opportunities for companies to expand their presence and cater to the rising demand for plant-based protein solutions.

Contact Us:
Meticulous Research®
Email- [email protected]
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research