Ingredion Introduced VITESSENCE Pea 100 HD, Facilitate Tremendous Growth of Pea Protein Industry, & Expected to Achieve CAGR of 8% During Forecast Years

Ingredion Introduced VITESSENCE Pea 100 HD, Facilitate Tremendous Growth of Pea Protein Industry, & Expected to Achieve CAGR of 8% During Forecast Years

The recent report published by MarkNtel Advisors, states the lucrative growth using the company’s recent development and achievement. As per the report, one of the leading global ingredients solutions companies, Ingredion Inc. launched its latest Vitessence Pea 100 HD, a new pea protein enhanced for cold-pressed bars for the Canadian and U.S. markets. It delivers softness throughout the shelf life of cold-pressed bars. This fortifying progress of market players and manufacturers pushes the pea protein market size toward remunerative development.

The report comprises “Global Pea Protein Market Research Report: By Form (Dry, Liquid), By Type (Isolates, Textured, Concentrates, Others), By Source (Chickpeas, Yellow Split Peas, Lentils), By Application (Performance Nutrition, Meat Substitutes, Functional Foods, Snacks, Bakery Products, Beverages, Confectionery), By Region (North America, South America, Europe, Asia-Pacific, Middle East & Africa), Forecast (2024-2030)”, According to the report, the Global Pea Protein Market size was valued at around USD 1.4 billion in 2022 and is projected to grow at around 8% CAGR during the forecast period, i.e., 2024-30. The market growth is further driven by rising food requirements of the exponentially increasing population globally, growing consumer preference toward nutrient-rich food like pea protein for an active lifestyle, and a catalyzing number of vegan populations inclining purely on plant-based food products.

Leading Segmentation Analysis Based On Application, Type, and Region

The Pea Protein market is segmented into six segments based on type, form, nature, application, source, and region.

·  Based on Application, the market is segmented into Performance Nutrition, Meat Substitutes, Functional Foods, Snacks, Bakery Products, Beverages, and Confectionery, in 2024, the Meat Substitutes Segment dominates the global Pea Proteins.

·  Based on type, the market is segmented into Isolates, Textured, Concentrates, and Others, in 2024, the Isolates segment will dominate the global Pea Proteins.

·  Based on Region, the market is segmented into North America, South America, Europe, The Middle East & Africa, and Asia-Pacific, in 2024, the North American region will dominate the global Pea Proteins.

Rising Prevalence of Lactose Intolerance Propels Demand for Pea Protein Industry

The pea protein belongs to the gluten and lactose-free category, this is the reason, the population suffering from lactose intolerance is opting for pea protein. This facilitates bolstering the growth opportunities for the leading manufacturers to integrate innovation in products and therefore results in global pea protein industry expansion.

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Key Market Players and Recent Updates: Strengthening the Industry Growth

Highlighting the recent update that demonstrates the further growth and market expansion:

• Roquette declares a substantial investment in DAIZ in 2024, DAIZ is a Japan-based food tech startup that specializes in developing technologies and processes to improve plant-based food’s texture, flavor, and nutritional profile.

Additionally, to strengthen their market position, certain market players such as
Rouquette Freres, Ingredion Incorporated, Puris Protein Llc, Fenchem Inc., Dupont, Axiom Foods Inc, Burcon Nutrascience Corp, Cosucra Groupe Warcoing, Sotexpro, Shandong Jianyuan Foods Co., Ltd., Yan Tai Shuang Ta Food Co Ltd., Et-Chem, Agt Foods, The Green Labs Llc, Nutri-Pea Limited, are operating, not only to raise revenue but also to seek comprehensive attention and popularity from large customers. Therefore, looking forward towards futuristic growth and betterment.

Recent Development:

In 2024, Ingredion Inc., revealed its latest innovation, VITESSENCE Pea 100HD, a pea protein specifically designed to enhance the texture and taste of cold-pressed bars. 

In 2023, Roquette, a French leader in plant-based ingredients and a pioneer of plant proteins, announced its strategic investment in DAIZ Inc., to continue realizing its strong growth ambitions and meet rising global demand for innovative and sustainable plant-based ingredients combining great taste and high-quality nutritional value.

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