Factors Driving the Pea Processed Ingredients Market

Pea processed ingredients are derived from yellow or green peas and are used in various food products such as bakery goods, beverages, meat products, and snacks, among others. Pea protein, pea starch, and pea fiber are some of the most common types of pea processed ingredients used in the food industry.

Market Size and Share:

According to a report by MarketsandMarkets, The Pea Processed Ingredients Market is projected to reach USD 5.0 billion by 2026 with a compound annual growth rate (CAGR) of 10.1%. The market value was estimated to be USD 3.1 billion in 2021. The report also suggests that pea protein is the largest segment in the pea processed ingredients market.

Growth:

The growing demand for plant-based proteins and the increasing prevalence of lactose intolerance and milk allergies are some of the key factors driving the growth of the pea processed ingredients market. Additionally, the rising health consciousness among consumers and the increasing demand for gluten-free and non-GMO food products are also contributing to the growth of the market.

Trends:

The pea processed ingredients market is witnessing several trends, including the launch of new pea protein products and increasing investments in R&D activities. Companies are focusing on developing new and innovative products to cater to the changing consumer preferences.

Forecast:

The pea processed ingredients market is expected to continue its growth trajectory in the coming years. The increasing adoption of vegan and vegetarian diets, coupled with the rising demand for clean-label and organic food products, is likely to drive the demand for pea processed ingredients. The Asia Pacific region is expected to witness significant growth in the market due to the increasing population, changing dietary habits, and growing demand for plant-based proteins.

Overall, the Pea Processed Ingredients market is poised for growth in the coming years, driven by various factors, including the rising demand for plant-based proteins, health consciousness, and the increasing prevalence of lactose intolerance and milk allergies.