London, Nov. 22, 2022 (GLOBE NEWSWIRE) — Derived from the yellow split beans, pea protein continues to find wide application across food industry as a supplement. The thriving trend wave of plant-based protein is expected to augur well for worldwide pea protein consumption and growing consumer proclivity for organic ingredients is likely to bode well for the organic pea protein across industry as a favoured ingredient. Global organic pea protein market is all set for an impressive 14.5% CAGR between 2022 and 2029, reaching the revenue of nearly US$52.2 Bn by the end of forecast year. A newly released study of Fairfield Market Research suggests that the market for organic pea protein will gain significantly from the fact that the protein here is isolated through mechanical processing of peas rather than chemical processing. Up from the revenue registered in 2021, organic pea protein market size will expand 2.9x toward 2029, says the report.
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Key Research Insights
- In 2021, global organic pea protein market registered the revenue of around US$17.8 Bn
- Protein isolates remain favoured with over 64% market share, whereas beverages account for more than 50% share in market value
- Europe, and North America hold a collective revenue share of more than 50%
Insights into Segmental Analysis
Isolates remain dominant in terms of consumer preference with more than 64% market value share, followed by textures, further trailed by the concentrates. Increasing inclusion of supplements like organic pea protein in making of shakes, and smoothies to enhance their nutrition profile is likely to push the growth prospects of the market in future. Moreover, the naturally vegan attribute along with the hypoallergenic nature will continue to elevate the penetration potential of organic pea protein across the various F&B sectors, says the report. Market analysis reveals that beverage manufacturers will continue to record the maximum consumption of organic pea protein, accounting for over half the market value share. On the other hand, meat extender and analogues represent the next key application segment that makes up for over 40% of total demand in global organic pea protein market. A sizeable consumer mass however remains reluctant over the taste, texture, and health profile of plant-based protein alternatives against their conventional animal-based counterparts. These parameters will continue to influence the pace of organic pea protein market while it strives to enter the mainstream.
Key Report Highlights
- The expanding gluten-free, and non-GMO culture across industry has been working to the advantage of organic pea protein market
- Organic pea protein market likely to benefit from rising consumer participation in global sustainability drive
- Yet, a considerably large mass of consumer remains skeptical with concerns around the nutritional value, and costs of plant-based protein
Insights into Regional Analysis
Research finds that the developed western regions will maintain the lead in global pea protein market throughout the period of projection. Europe especially remains at the forefront with nearly 1/4th share in the market value. North America follows closely, further trailed by Asia Pacific. Given the collective revenue share of more than 50% in the market, Europe, and North America will most likely retain their clear primacy through the end of forecast year. On the other side, developing economies tend to provide the most favourable growth environment to producers of organic pea protein according to the report. Asia Pacific currently accounts for nearly US$5 Bn and is projected to develop lucrative potential for market growth in long term. The report attributes this growth to the expanding nutraceuticals market across the Asian subcontinent, as well as an evolving consumer lifestyle in the wake of increasing prevalence of lifestyle diseases like obesity, and IBD.
Key Competitors in Global Organic Pea Protein Market
Axiom Foods, Inc, Scoular Company, Ingredion Incorporated, Roquette Frères, Puris, Emsland Group, DuPont, A&B Ingredients, Glanbia plc, FENCHEM
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2021 | |
| Forecast Year | 2022 – 2029 | |
| Market Size in 2021 | US$17.8 Bn | |
| Estimated Market Size in 2029 | US$52.2 Bn | |
| CAGR | 14.5% | |
| Key Players | Axiom Foods, Inc, Scoular Company, Ingredion Incorporated, Roquette Frères, Puris, Emsland Group, DuPont, A&B Ingredients, Glanbia plc, FENCHEM | |
Market Segmentation
Type Coverage
- Isolates
- Concentrates
- Textured
Application Coverage
- Meat extenders & analogs
- Snacks & bakery products
- Nutritional supplements
- Beverages
- Others
Form Coverage
End User Coverage
- Food & Beverages
- Animal Feed
- Cosmetics & Personal Care
- Pharmaceuticals
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
- Asia Pacific
Leading Companies
- Axiom Foods, Inc
- Scoular Company
- Ingredion Incorporated,
- Roquette Frères
- Puris
- Emsland Group
- DuPont
- A&B Ingredients.
- Glanbia plc
- FENCHEM
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Type-wise Analysis
- Application-wise Analysis
- Form-wise Analysis
- End User-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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