Global Forecast for the Pea Protein Market, 2033 Introduction: The market for pea protein is expected to expand at a value-based Compound Annual Growth Rate (CAGR) of 6.0%, with an increase in revenue from US$ 1,181.7 million in 2023 to an expected US$ 2,125.4 million by 2033. The global pea protein market witnessed significant growth in the historical period, registering a CAGR of 5.3% and was valued at US$ 1,181.7 million in 2023. The major factors driving market demand for pea protein include the increasing consumer demand for naturally sourced supplements and health & wellness products. There is also a rising demand for textured protein in convenient food items and ready-to-eat food products, contributing to the growth of the global pea protein market. Pea protein demand worldwide is being propelled by the booming supplement sector and the desire for naturally sourced healthcare products. The consumption of organic products is increasing in the global market, and consumers are becoming more aware of organic products, which is expected to drive the sales of pea protein. Urbanization across the globe has resulted in higher economic standards, increased purchasing power, and a shift in customer preference for healthy food products. In metropolitan areas, consumers are choosing healthy food options such as natural and organic foods. Increased awareness of non-GMO and chemical-free foods is influencing the growth of naturally sourced protein powder in the global market. The global market for pea protein is estimated to reach an approximate valuation of US$ 2,125.4 million in the forecast period, i.e., 2033.
Key Market Growth Factors and Dynamics Pea Protein Market: Increasing Demand for Naturally Sourced Supplements and Health & Wellness Products: Consumer preferences are shifting towards naturally sourced supplements and health-conscious products, driving the demand for pea protein as a plant-based, clean, and sustainable protein source. Rising Popularity of Plant-Based Diets: The growing awareness of the environmental impact of animal agriculture and health concerns associated with meat consumption has led to an increased adoption of plant-based diets. Pea protein serves as a vital ingredient in plant-based diets, contributing to its market growth. Booming Supplement Sector: The expanding market for dietary supplements, especially in the form of protein powders, is a significant driver for pea protein. Consumers, including fitness enthusiasts and those seeking protein supplements, are increasingly turning to plant-based options. Demand for Textured Protein in Convenient and Ready-to-Eat Foods: The convenience factor in food consumption is driving the demand for textured protein, and pea protein is finding applications in various convenient and ready-to-eat food products. This trend is contributing to the overall growth of the pea protein market. Increasing Awareness of Organic and Non-GMO Products: Consumers are becoming more conscious of the quality of food they consume, leading to a higher demand for organic and non-genetically