Market Size of India Pea Protein Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 6.14 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
India Pea Protein Market Analysis
The India pea protein market is expected to grow from USD 96 million in 2023 at a CAGR of 6.14% over the next five years.
- The demand for plant protein ingredients is increasing in the country owing to the increasing demand for plant-based and vegan food products. The increasingly fitness-conscious population and a gradual shift to vegan protein diets from consuming meat products are the factors driving the demand for pea protein in the country.
- The products like protein isolates and concentrates are used in different meat alternatives like burgers, sandwiches, hot dogs, and many more. Pea protein gives the same texture and flavor as meat alternatives and also provides more nutrition than animal protein products. The market players are also using pea protein in infant formulas and bay food as they are easily digestible.
- Furthermore, the use of pea protein in other applications like personal care, cosmetics, and animal feed is also increasing. Feed manufacturers are using pea protein in animal feed to increase its functionality. Because of this, the overall health and production capacity of animals is claimed to be increased. Also, pea proteins remove dirt, dust, and impurities from the skin, which are being used in personal care products as well.
- Consumer demand for non-GMO, organic, and gluten-free products is increasing due to increasing health awareness. The use of pea protein in plant-based supplements is also increasing due to rising preventive health care among millennials and baby boomers. Over the medium term, the demand for pea protein is expected to increase owing to the increasing demand for plant proteins and meat and dairy alternatives.