PUBLISHER: SkyQuest | PRODUCT CODE: 1244310
PUBLISHER: SkyQuest | PRODUCT CODE: 1244310
Global Yellow Pea Protein Market was valued at USD 0.38 billion in 2021, and it is expected to reach a value of USD 1.02 billion by 2028, at a CAGR of 15% over the forecast period (2022-2028).
The market for yellow pea protein is a quickly expanding industry that offers a plant-based protein substitute to conventional sources of animal-based protein. New and inventive yellow pea protein formulations, such as isolates, concentrates, and hydrolysates, as well as the usage of yellow pea protein in a variety of goods, including dietary supplements, food and beverage items, and animal feed, have recently entered the market. The demand for yellow pea protein is anticipated to keep rising, fueling the market's rise as consumers become more interested in plant-based and sustainable protein sources. While yellow pea protein is seen as a healthy and nourishing alternative to conventional protein sources, the growing emphasis on health and wellness as well as the prevalence of chronic diseases are further driving the market's expansion.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Yellow Pea Protein market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report
Global Yellow Pea Protein Market is segmented based on the Type, source process, processing method, form, application, and region. Based on the type, the Global Yellow Pea Protein Market is segmented into isolate, concentrate, textured yellow pea protein. Based on the source process, the market has been segmented into conventional and organic. Based on the processing method, the market has been segmented into dry and wet. Based on form the market is segmented as powder and liquid. Based on application, the Global Yellow Pea Protein Market is segmented into nutrition & health supplements, meat & alternative meat products, bakery products, dairy & dairy alternatives, cereals & snacks, beverages, pet food. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Driver
The market for yellow pea protein is fueled by a number of factors, including the rising need for sustainable and plant-based protein sources. Consumers are gravitating towards plant-based substitutes like yellow pea protein as they become more aware of the negative environmental effects of traditional animal-based protein sources, such as meat and dairy. Although yellow pea protein is seen as a healthy and nourishing alternative to conventional protein sources, the growing emphasis on health and wellness as well as the prevalence of chronic diseases are also contributing to the market's rise.
Restraint
Despite the market's expansion, there are still several obstacles that businesses must be mindful of, such as the high production costs and the scarce supply of raw materials. Companies in the food industry may also have difficulties in getting the proper taste and texture in food products that contain yellow pea protein as a main ingredient.
Market Trends
The market for yellow pea protein includes a number of industries, including producers of yellow pea protein isolates, concentrates, and hydrolysates as well as businesses that produce food, drink, and nutritional supplements that contain yellow pea protein. Also, there is a growing tendency for partnerships and collaborations between producers of yellow pea protein and other businesses, such as ingredient and flavour providers, in the food and beverage sector.