Pea Protein Isolate Market 2024 Environment, Product Definition, Chain Overview -2033
As per the current market research conducted by the CMI Team, the global Pea Protein Isolate Market size is expected to record a CAGR of 10.8% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 2,677.1 Million. By 2033, the valuation is anticipated to reach USD 6,737.7 Million.
Pea Protein Isolate Market: Growth Factors and Dynamics
- Increasing Demand for Plant-Based Protein Sources: The growing awareness about health and sustainability, coupled with the rising prevalence of lifestyle-related diseases, has led to an increasing shift towards plant-based diets. Pea protein isolate, being a high-quality plant-based protein, has witnessed significant demand due to its nutritional profile and functional properties.
- Expansion of Vegan and Vegetarian Population: The expanding vegan and vegetarian population worldwide has been a major driver for the pea protein isolate market. As these dietary preferences become more mainstream, there is a rising demand for plant-based protein alternatives, including pea protein isolate, across various food and beverage applications.
- Rising Preference for Clean Label and Natural Ingredients: Consumers are becoming more conscious about the ingredients in their food products, preferring clean label and natural options. Pea protein isolate, being derived from yellow peas and minimally processed, aligns well with these preferences, driving its adoption in food and beverage formulations.
- Growing Applications in Sports Nutrition and Dietary Supplements: Pea protein isolate is gaining traction in the sports nutrition and dietary supplements segment due to its high protein content, amino acid profile, and digestibility. It is increasingly being used in protein powders, bars, shakes, and other sports nutrition products, catering to the needs of athletes and fitness enthusiasts.
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Pea Protein Isolate Market: Partnership and Acquisitions
- In 2023, Roquette made a notable investment in the Japanese food tech startup, DAIZ Inc., known for enhancing plant-based food products’ flavor, texture, and nutritional value. DAIZ’s Ochiai Germination Method JP-5795679, initially for soy, has extended to pea protein, signaling advancements in plant-based food innovation.
- In 2023, Burcon NutraScience is expanding its protein development and innovation business, offering services like pilot plant processing and scale-up validation to customers and partners. Their Winnipeg Technical Centre, with 10,000 sq. ft of space, utilizes advanced processing equipment for comprehensive product development.
- In 2022, Ingredion Incorporated formed an exclusive commercial distribution partnership with InnovoPro, a leading chickpea solutions company. This collaboration aims to distribute chickpea protein concentrate in the US and Canada, supporting food and beverage manufacturers in meeting growing consumer demand for sustainable, nutritious plant-based products.
Pea Protein Isolate Market: COVID-19 Analysis
The COVID-19 pandemic has significantly impacted the Pea Protein Isolate Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Disruption in Supply Chains: The global pandemic caused disruptions in supply chains worldwide, affecting the sourcing and transportation of raw materials for pea protein isolate production. This led to temporary shortaisolates fluctuations in prices, impacting the availability of pea protein isolate for manufacturers.
- Shift in Consumer Spending Habits: During the pandemic, there was a shift in consumer spending habits, with a greater focus on essential items and a decrease in discretionary spending. This affected the demand for premium food and beverage products, including those containing pea protein isolate, as consumers prioritized necessities over specialty items.
- Diversification of Supply Chains: To mitigate the risks associated with supply chain disruptions, manufacturers are diversifying their supply chains by sourcing raw materials from multiple regions and establishing alternative distribution channels. This enhances resilience and ensures a steady supply of pea protein isolate, even during unforeseen circumstances.
List of the prominent players in the Pea Protein Isolate Market:
- Roquette Frères
- The Scoular Company
- Axiom Foods Inc.
- Cosucra Groupe Warcoing SA
- Ingredion Incorporated
- Puris
- Nutri-Pea Limited
- Farbest Brands
- Sotexpro
- AGT Foods
- Fenchem Biotek Ltd.
- Burcon NutraScience Corporation
- Glanbia plc
- Yantai Shuangta Food Co. Ltd.
- Emsland Group
- Others
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