The Global Pea Derivatives Market has witnessed substantial growth and is expected to reach a projected size of USD 6122.5 million by 2029, up from USD 2947.9 million in 2022, at an impressive CAGR of 11.0% during the review period of 2023-2029. Several factors have contributed to this growth, including the increasing consumer interest in plant-based alternatives to animal products and the rising demand for peas, particularly in developing regions.
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Consumer interest in plant-based alternatives to traditional animal products is a significant driver for the market. The trend towards meat- and dairy-free options has been steadily growing, and pea protein and its derivatives are gaining prominence as viable alternatives. Additionally, the rising demand for peas, especially in developing regions, is fueling market growth.
Pea derivatives are nutrient-dense, containing high-quality proteins, starch, dietary fibers, micronutrients, and non-nutritional phytochemicals, making them valuable ingredients in various applications. Their functional qualities, including solubility, ability to form emulsions, gel formation, and viscosity, further contribute to their increasing use in the food and beverage industry.
The Pea Derivatives market is segmented based on Type and Application:
Food and Drinks
Prominent companies operating in the global Pea Derivatives market include Burcon, COSCURA, Fenchem Biotek Ltd, International Flavors & Fragrances Inc., NutriPea LP, Nutri-Pea, Nisco Foods, PURIS, Roquette Freres, Shandong Jianyuan Group, Sotexpro (GEMEF Industries), The Green Labs LLC, and The Scoular Company.
The market is analyzed across key regions, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
The primary objectives of this report are to determine the market size, assess growth potential, forecast future growth, and evaluate competitive factors affecting the marketplace. The report provides a comprehensive analysis based on quantitative and qualitative insights to aid readers in strategic decision-making.
The global Pea Derivatives market is set to flourish, driven by consumer preferences for plant-based alternatives and the nutritional value of pea derivatives. The market is poised for substantial growth and offers significant opportunities for key market players.
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