Pea Protein Isolate Market Projected to Reach $542.9 Million by 2029, Indicates Meticulous Research®

City, Date - Meticulous Research®, a leading global market research company, has recently published a comprehensive report projecting significant growth in the global pea protein isolate market. The study forecasts a Compound Annual Growth Rate (CAGR) of 16.4% in terms of value and 13.8% in terms of volume from 2022 to 2029, culminating in a market value of $542.9 million and 135.2 thousand MT, respectively, by 2029.

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The surge in demand for pea protein isolate is propelled by several factors including heightened awareness of plant-based nutrition, an increasing emphasis on organic ingredients in the Food & Beverage (F&B) sector, expansion of the plant-based food market, and a growing recognition among consumers of the nutritional benefits offered by pea protein. Furthermore, burgeoning markets present substantial growth opportunities for manufacturers of plant-based products, although a notable preference for animal-based protein poses a slight hindrance to market growth.

This global study by Meticulous Research® provides a comprehensive analysis of the historical market data for 2020 and 2021, current estimations for 2022, and detailed forecasts up to 2029. The market analysis encompasses segmentation based on source, source process, processing method, form, application, and geography, alongside a thorough evaluation of industry competitors and a country-level market assessment.

Key Market Segments:

• Source: The market is primarily segmented into yellow peas and green peas, with yellow peas expected to dominate the market in 2022 owing to their high protein content and associated health benefits. Yellow peas are anticipated to sustain the highest CAGR during the forecast period, driven by their versatility in various applications, notably as alternative meat products.

• Source Process: Segmentation includes conventional pea protein isolate and organic pea protein isolate. While conventional pea protein isolate holds the largest market share in 2022 due to factors like lower pricing and longer shelf life, the organic segment is projected to witness the highest growth, supported by increasing demand for organic products and the rising trend of clean label items.

• Processing Method: The market is segmented into dry processing and wet processing, with dry processing currently holding the largest market share. However, the wet processing segment is anticipated to exhibit the highest CAGR during the forecast period, attributed to its ability to produce higher protein content and purity compared to dry processing.

• Form: Segmentation comprises powder and liquid forms, with powder accounting for the largest market share in 2022 due to its ease of handling, cost-effectiveness, and stability maintenance. Nonetheless, the liquid segment is projected to experience the highest growth, driven by increasing demand in the dairy alternative industry and innovative product applications.

• Application: Market segments include nutrition & health supplements, meat & alternative meat products, bakery products, dairy & dairy alternatives, cereals & snacks, beverages, and others. While nutrition & health supplements currently hold the largest market share, the meat & alternative meat products segment is expected to register the highest growth during the forecast period, fueled by factors such as the rising popularity of veganism and the launch of new products.

• Geography: North America is anticipated to lead the market in 2022, attributed to factors like a well-established F&B industry, increasing vegan population, and growing preference for meat alternatives. However, the Asia-Pacific region is forecasted to exhibit the highest CAGR, driven by rising awareness of protein-rich diets and a burgeoning F&B industry.

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Key Players:

Leading companies in the global pea protein isolate market include Roquette Frères Le Romain (France), AGT Food and Ingredients Inc. (Canada), Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), Archer-Daniels-Midland Company (U.S.), E.I. Dupont De Nemours and Company (U.S.), Glanbia Plc. (Ireland), Cosucra Groupe Warcoing SA (Belgium), Farbest Brands (U.S.), Shandong Jianyuan Foods Co., Ltd. (China), The Emsland Group (Germany), and Nutri-Pea Ltd. (Canada).

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