Market Size of China Pea Protein Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 9.25 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Pea Protein Market Analysis
The China pea protein market size is expected to grow from USD 152.42 million in 2023 to USD 237.25 million by 2028, at a CAGR of 9.25% during the forecast period (2023-2028).
- The increasing lactose-intolerant population in the country, coupled with the rise in the demand for plant-based products owing to their nutritional benefits, low cholesterol, and alternative to meat products, are driving the market's growth in the country. Lactose intolerance is 'an impaired ability to digest lactose, a sugar found in milk and other dairy products, and according to ProCon.org, in 2022, 85% of China's population is lactose intolerant.
- Additionally, due to sustainability concerns and social reasons, the majority of the population in China is vegetarian, vegan, or flexitarian, which is raising the market's demand. This has eventually raised the popularity of plant-based foods and gluten-free products and the nutritional benefits of pea-based products in the country.
- Moreover, owing to the growing number of customers who are concerned about their health, the demand for products with clean-label ingredients, without synthetic ingredients and genetically modified organisms (GMOs), is rising. In line with this, pea protein gains an advantage here, and consumers find it intriguing because it is natural and has non-GMO properties.
- Furthermore, with major players in the country offering pea protein ingredients with multiple application capabilities and functional properties, manufacturers are attracted to incorporate such ingredients into their products to gain the upper hand in the market. Eventually, consumers are also inclined toward such clean-label products.
- For instance, Cargill. Inc. offers RadipureTM, a pea protein claimed to be developed and manufactured for Asian markets, including China. Radipure™ pea protein offers the solubility and flavor profile that customers need for food application development. The company claims that Radipure pea protein has label-friendly, low-allergenic, and non-GMO features and is a highly versatile ingredient that can be used in dairy, ready-to-drink beverages, bakery, and meat alternatives. Such factors are further expected to boost the market's growth during the forecast period.
