Pea Protein Market was estimated at USD 1,855.8 million in 2023 and is expected to increase at a compound annual growth rate (CAGR) of 7.53% from 2024 to 2031, reaching USD 3,312.8 Million.
North America emerged as the leading region in the Pea Protein Market in 2023, attaining a valuation of USD 608.7 million. The region's dominance in the pea protein market stems from several factors, including a well-established health and wellness culture, driving the demand for plant-based proteins from different sources such, as pea and soy, among others.
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Top 10 Companies:
- Cargill, Incorporated
- ETprotein
- Foodchem International Corporation
- Ingredion
- Nature Bio-Foods Ltd
- Nutri-Pea
- Roquette Frères
- Sun Nutrafoods
- Taj Agro International (Taj Pharma Group).
- The Scoular Company
Competitive Landscapes:
Key players in the Pea Protein Market are focusing on strategic collaborations, acquisitions, and product innovations to enhance their market presence. Companies such as Roquette Frères, Burcon NutraScience, and Axiom Foods are leading the way with extensive research and development initiatives to improve product quality and meet consumer demands.
Regional Insights:
The Pea Protein Market is expanding globally, with significant growth anticipated in North America and Europe. North America dominates the market, driven by the high demand for plant-based products and a strong presence of leading food manufacturers. Europe is also experiencing substantial growth, supported by increasing consumer awareness of health and sustainability and favorable government policies promoting plant-based diets.
Future Outlook:
The future of the Pea Protein Market looks promising, with continuous advancements in food technology and growing consumer preference for sustainable and healthy food options. The market is expected to witness new product launches, increased investment in research and development, and expanded application areas, further driving growth and market penetration.
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