Pea Protein Market Booming as Plant-Based Diets Gain Traction

NEW YORK, July 1, 2024 /PRNewswire/ —  The global pea protein market size is estimated to grow by USD 272 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  14.16%  during the forecast period. The pea protein market is surging, driven by the rising popularity of plant-based diets. 

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Consumer Demand for Clean-Label Ingredients: People increasingly seek natural, recognizable ingredients. Pea protein, derived from yellow peas, fits the bill perfectly.Plant-Based Protein Trend: Vegan and vegetarian lifestyles are on the rise, and pea protein offers a versatile, nutritious alternative to animal protein.Functional Benefits: Pea protein boasts essential amino acids, aids muscle building, and promotes weight management.

Market Challenges and Key Players:

Despite the boom, the market faces competition from soy and wheat proteins. Additionally, maintaining high production rates and diverse product offerings remain hurdles. Key players include Cargill, DuPont, and Roquette Freres.

Market Segments:

The report segments the market by product (isolates, concentrates, etc.), application (dietary supplements, meat substitutes, etc.), and geography (North America, Europe, etc.). Pea protein isolates, high in protein content and functional properties, are a major growth segment.

Future Outlook:

The pea protein market is poised for continued expansion. Innovation in processing and product development will be crucial. With its health benefits, sustainability edge, and wide range of applications, pea protein is a promising plant-based protein source for the future.

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SOURCE Technavio