Meticulous Research®—leading global market research company published a research report titled, 'Yellow Pea Protein Market by Type (Pea Protein Isolate, Pea Protein Concentrate, Pea Flour), Source Process (Conventional, Organic), Processing Method (Dry, Wet), Application (Nutritional Supplements, Meat Alternatives)—Global Forecast to 2029.'
The most recent publication from Meticulous Research® forecasts that the yellow pea protein market will achieve a value of $1.09 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 15.8% from 2022 to 2029. This growth is primarily fueled by several factors, including the escalating interest in plant-based nutrition, the burgeoning health and wellness trends, the expansion of the plant-based food market, heightened consumer awareness regarding the nutritional advantages of pea and pea-based products, and the ongoing innovation in pea protein ingredients by industry leaders.
Moreover, the market presents promising opportunities in emerging markets, coupled with an uptick in the launch of pea protein-based products, which are anticipated to bolster growth prospects for market participants. Nevertheless, the market faces notable hurdles due to the substantial preference for animal-based protein sources.
The yellow pea protein market is segmented based on various factors including type, source process, processing method, form, application, and geography. The study also includes an assessment of industry competitors and an analysis of the market at both regional and country levels.
Type-wise segmentation includes yellow pea protein isolate, yellow pea protein concentrate, yellow textured pea protein, yellow pea protein hydrolysate, yellow pea flour, and other yellow pea proteins. In 2022, the yellow pea protein isolate segment is expected to dominate the market due to its high protein content, excellent emulsification, and stability properties. Its versatile applications in high-performance nutrition and snack products further contribute to its demand, with projections indicating it will maintain the highest CAGR during the forecast period.
Source process segmentation comprises conventional yellow pea protein and organic yellow pea protein. While conventional yellow pea protein is expected to hold the largest market share in 2022, organic yellow pea protein is anticipated to witness the highest CAGR owing to increasing demand for organic products and the rising trend of clean label items.
Processing method segmentation includes dry processing and wet processing. Dry processing is estimated to lead the market in 2022 due to its lower capital and resource consumption compared to wet extraction. Conversely, wet processing is forecasted to exhibit the highest CAGR, driven by its ability to deliver higher purity.
Form-wise segmentation consists of powder and liquid, with powder dominating the market in 2022 due to its ease of handling, cost-effectiveness, and minimal formulation errors. However, the liquid segment is projected to witness the highest CAGR during the forecast period, buoyed by increasing demand in the dairy alternative sector and innovative product applications.
Application-wise segmentation encompasses various sectors such as nutrition and health supplements, meat and alternative meat products, bakery products, dairy and dairy alternatives, cereals and snacks, beverages, pet food, and others. While nutrition and health supplements are expected to dominate the market in 2022, the meat and alternative meat products segment is forecasted to experience the highest CAGR, propelled by the growing vegan population and concerns over meat-borne diseases.
Geographically, North America is anticipated to hold the largest market share in 2022, driven by a well-established food and beverage industry, sustainability concerns, and a growing preference for meat alternatives. However, Asia-Pacific is poised to register the highest CAGR during the forecast period, fueled by increasing awareness of protein-rich diets, a booming food and beverage industry, and a rising vegan population.
Key players in the yellow pea protein market include Roquette Frères Le Romain, AGT Food and Ingredients Inc., Cargill, Incorporated, Ingredion Incorporated, Archer-Daniels-Midland Company, E.I. Dupont De Nemours and Company, Axiom Foods Inc., Burcon NutraScience Corporation, Glanbia Plc., Cosucra Groupe Warcoing SA, Sotexpro, Farbest Brands, Shandong Jianyuan Foods Co., Ltd., The Emsland Group, and Nutri-Pea Ltd.
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The report also addresses several key questions such as identifying high-growth market segments, historical market size, market forecasts, major drivers and challenges, competitive landscape, recent developments, growth strategies adopted by major players, geographic trends, and the competitive positioning of local emerging players in the global yellow pea protein market.
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