The global pea protein market is projected to experience significant growth over the forecast period, fueled by rising demand for high-protein diets and an expanding vegan population. North America dominated the pea protein market share of 36.33% in 2023. An upcoming report from Fortune Business Insights™, titled "Pea Protein Market, 2024-2032," indicates that the market, valued at USD 580.61 million in 2023, is expected to grow from USD 649.36 million in 2024 to USD 1,644.67 million by 2032, with a compound annual growth rate (CAGR) of 12.32%.
Pea protein's popularity is increasing as consumers prioritize health and wellness, drawn to benefits like weight loss, muscle growth, and enhanced satiety. This trend aligns with modern health-focused lifestyles, driving demand among individuals looking for nutritious, effective dietary options. Additionally, pea protein’s natural, minimally processed qualities resonate with the rising demand for clean-label products. By incorporating pea protein, companies can meet consumer expectations for ingredient transparency, fostering brand loyalty and trust.
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List of Key Players Profiled in Market:
Segments:
The pea protein market is segmented into three main types: isolates, concentrates, and textured products.
In terms of application, the market is divided into several categories, including meat substitutes, baked goods, dietary supplements, beverages, and others.
Geographically, the market is classified into five regions: North America, Europe, Asia Pacific, South America, and the Middle East & Africa.