In terms of revenue, the Global Organic Pea Protein Market is expected to reach USD 40.17 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 11.8% from 2022 to 2028. The global organic pea protein market growth is attributed to the factors such as, increasing consumer awareness regarding the health benefits of organic food, protein fortification in food & beverages, and increasing preferences for organic food. Moreover, the demand of organic foods is increasing which, in turns, propelling the growth of the market.
- The pea protein sub-segment is anticipated to grow at a substantial Compound Annual Growth Rate (CAGR). The growth is attributed to increasing demand for organic pea protein as consequence of increase in demand of organic foods as well as increasing consciousness among consumers regarding health.
- Yellow pea protein sub-segment held a significant market share in 2021. The wide array of applications in the food & beverage industry is propelling the growth of the segment and further boosting the market growth.
- Asia Pacific is projected to grow at a fastest Compound Annual Growth Rate (CAGR). This is due to presence of developing countries such as India and China, among others. Furthermore, the larger base population in the region is anticipated to boost the market growth.
Some of key players in Organic Pea Protein market include - Scoular Company (U.S.), Axiom Foods, Inc. (U.S.), World Food Processing, L.L.C (U.S.), AIDP, Inc. (U.S.), Farbest Brands (U.S.), Shaanxi Fuheng Biotechnology Co., Ltd (China), Phyto-Therapy Pty. Ltd. (Australia), The Green Labs LLC (U.S.), Zelang Group (China), and Bioway (Xi'an) Organic Ingredients Co., Ltd. (China)..
Since past few decades, the population across the globe is increasing at the rapid pace. Consequently, rising population is increasing the global food supply and demand gap. The changing trend to sports as career, and gymnasium is increasing the demand for supplements and high protein food. Since COVID-19 pandemic outbreak, the awareness regarding health is increasing at its wildest level. This is increasing the adoption of organic and healthy food. Additionally, factors such as protein fortification in food & beverages, and cost-competitiveness of plant proteins are growing the vegetarian and vegan population. Moreover, organic pea proteins are extensively used in meat extenders & analogs, snacks & bakery products, and nutritional supplements. Furthermore, these proteins also have application in nutritional supplements.
Additionally, changing trend towards veganism, increasing number of health-conscious consumers surging the demand for healthy food and nutritional supplements, consequently increasing the demand for organic pea protein. These are some of the major factors driving the organic pea protein market over the forecast period.
Asia Pacific is expected to grow at a fastest Compound Annual Growth Rate (CAGR) during the forecast period. The market growth is attributed to the presence of developing countries such as India and China, among others, increasing demand for organic food, and availability larger base population in the region. Also, booming food & beverages industry, large base of vegan population and increasing protein-rich diet awareness along with health heal conscious consumer’s population are some of the factors witnessing the market growth over the forecast period in the region.