Pea Processed Ingredients Market by Type (Pea Protein (Concentrates, Isolates, and Textured), Pea Starch, Pea Fiber, and Pea Flour), Application (Food, Beverages, and Others), Source (Yellow Split Peas, Chickpeas, and Lentils): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 3.5 billion mark in 2022 and is expected to hit US$ 7.5 billion by 2030, recording a CAGR of 9.5% during the forecast period.
Advancement in pea extraction and processing technologies to drive market growth
Advancement in pea extraction and processing technologies is likely to increase the supply rate of pea-processed ingredients, thereby driving the market growth. In addition, governmental support in building the infrastructure for the food processing factories is likely to support the pea-processed ingredients globally. Besides, food companies focusing on offering multigrain, nutritious food items are expected to fuel the demand for grain-processed ingredients and drive the market's growth.
Within the report, the global pea processed ingredients market is segmented into type, application, source, and geography. The global market is further segmented by type into pea protein, pea starch, pea fiber, and pea flour. Pea protein segment is further sub-segmented into concentrates, isolates, and textured. Based on application, the global market is segregated into food, beverages, and others. Based on the source, the global pea processed ingredients market is segregated into yellow split peas, chickpeas, and lentils. Geographically, the global market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Increasing usage of chickpeas and yellow peas as a sustainable crop source to augment the market growth
Increasing usage of chickpeas and yellow peas as sustainable crop sources for producing plant-based protein, fiber, and starch ingredients is likely to offer new market growth opportunities. In addition, growing demand among bakery products manufacturers as a substitute for fiber, flour, and starch is expected to favor the ingredients' demand during the forecast period. Significant food producers' preference for yellow split peas as the primary source for incorporating protein ingredients in their food products results in the yellow split peas segment dominating the global market.
Rising ingredients demand in various manufacturing industries offers futuristic market growth opportunities
Pea-processed ingredients are widely used as protein and starch constituents in various manufacturing industries, such as food, beverages, and others. Significant worldwide population demand for pea processed food products mainly results in the food segment dominating the global pea processed ingredients market. In addition, the rising demand for protein-rich ready-to-drink beverages as instant energy supplements among youngsters is anticipated to drive the beverage segmental growth.
Recent strategic developments in the pea processed ingredients market
The pea processed ingredients market has undergone several significant developments, and a few of these have been mentioned below:
- In October 2022, Above Food Corp. acquired Sonic Milling Systems, Ltd., a supplier of peas, lentils, oats, chickpeas, and other plant-based proteins, to the food manufacturers to expand its presence in the pea processed ingredients market.
- In November 2021, DSM, a Norwegian supplier of proteins, dietary fibers, and starches for plant-based food and animal food products, acquired Vestkorn Milling AS, a pea and bean-derived ingredient producer, to build its portfolio of producing pea processed proteins for food manufacturers.
The pea processed ingredients market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Emsland Group, DuPont de Nemours, Inc., Kerry Group plc., Roquette, and Vestkorn Milling AS. are the prominent players operating in the market.
The target audience for the report:
- Pea processed ingredient manufacturers
- Pea processed ingredient suppliers
- Pea processed ingredient distributors and exporters
- Processed Food & beverage products manufacturers
- Food & beverages industry-related associations, organizations, forums, and alliances
- Government bodies, such as policymakers and regulating authorities
- Venture capitalists, private equity firms, and start-up companies
- End users of pea processed ingredients
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the global market has been segmented based on:
- Type:
- Pea Protein
- Concentrates
- Isolates
- Textured
- Pea Starch
- Pea Fiber
- Pea Flour
- Pea Protein
- Application:
- Food
- Beverages
- Others
- Source:
- Yellow Split Peas
- Chickpeas
- Lentils
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Emsland Group
- DuPont de Nemours, Inc.
- Kerry Group plc.
- Roquette
- Vestkorn Milling AS.
The List of Companies
- Emsland Group
- DuPont de Nemours, Inc.
- Kerry Group plc.
- Roquette
- Vestkorn Milling AS.