Asia Pacific Pea Protein Market: Trends, Growth, and Forecast Analysis
The Asia Pacific pea protein market size was estimated at USD 588.1 million in 2023 and is expected to grow at a CAGR of 13.2% from 2024 to 2030. Increased consumer focus on fit and active lifestyle, substantial presence of the vegan population in India, and growing penetration of organized and e-retail are a few factors augmenting the growth of the market. Moreover, growing competition among processed food & beverage companies is driving them to incorporate novel or healthy ingredients in their product to appeal to health conscious consumer base. The Asia Pacific pea protein market accounted for a share of 27.7% of the global pea protein market in 2023. Pea protein is a clean-label, plant-based, and lactose-free protein source, unlike whey and casein proteins. Therefore, the growing consumption of dietary supplements, as well as functional foods due to changing lifestyles, is likely to favor market growth in the coming years. Moreover, a positive outlo...