Product ID: SQMIG30I2259
Pea Protein Market Size, Share, Growth Analysis, By Product(Isolates, Concentrates), By Form(Dry and Wet), By Source(Yellow Split Peas and Others), By Application(Food & Beverages, Personal Care & Cosmetics) - Industry Forecast 2024-2031
Report ID:
SQMIG30I2259 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|
Tables:
115 |
Figures:
77
Pea Protein Market Regional Insights
North American dominated the market in 2023 with a share of revenue of 32.9% thanks to a strong consumer demand in plant-based goods, a thriving food and beverage sector, and an abundant agricultural crop of yellow split peas. A survey from Sprouts Farmers Market in 2021 found that more Americans (47%) identify as flexible eaters and consume more plant-based meals than meat, reflecting an increase in the acceptance of plant-based diets and animal alternatives in the U.S.
Asia Pacific is anticipated to expand at a compound annual growth rate (CAGR) of 13.0% from 2024 to 2031 due to a growing population and changing dietary habits. Due to the expanding food and beverage sectors in India, China, & Australia, pea protein is now present in a wide range of products. Additionally, China's pea protein market in the Asia Pacific region expanded to become the largest with a share of revenue of 25.0% in 2023, benefited by the growth in the plant-based food industry & the challenges associated with common allergies. The Indian pea protein market is expected to grow at the fastest CAGR of 14.5% between 2024 and 2031, driven by significant demand in the food and beverage industry, particularly in the bakery and snacking categories.
Pea Protein Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
