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North America Meat Substitutes Pea Protein Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
Market Report I 2024-08-19 I 200 Pages I Global Market Insights
North America Meat Substitutes Pea Protein Market will exhibit an 11.6% CAGR between 2024 and 2032. Consumers are increasingly aware of environmental issues, prompting the food sector to innovate and drive demand for pea protein. With a growing emphasis on fitness and health, the North American pea protein industry, especially in the meat substitute domain, is set for expansion. The movement towards vegan diets has gained momentum, receiving endorsements from health and fitness professionals, medical experts, celebrities, and athletes. Additionally, escalating health concerns ranging from obesity and cardiovascular diseases to diabetes, particularly among the elderly, are propelling this shift towards veganism.
Technological advancements are playing a pivotal role in the growth of the North American pea protein industry. Innovations in extraction processes, such as enzyme-assisted methods and advanced filtration technologies, have enhanced protein yield and purity while reducing production costs. Moreover, advancements in texturization techniques, like high-moisture extrusion, are refining pea protein's functional properties, expanding its use in various food products, from meat substitutes to dairy alternatives.
North America meat substitutes pea protein market is segmented based on product, end-use, and country.
The textured pea protein segment is projected to reach USD 18.6 million, with an anticipated CAGR of 11.7% through 2032. Multiple product segments are witnessing growth, driven by technological advancements. Enhanced purification technologies are elevating the concentration of pea protein isolate while efficiently eliminating impurities, making it ideal for high-protein dietary supplements and functional foods. Notable improvements in wet processing techniques are benefiting pea protein concentrate, enhancing protein yield, preserving nutritional quality, and reducing production costs. Thanks to advancements in extrusion technology, textured pea protein is improving in texture and more convincingly mimicking meat-like qualities, catering to the expanding plant-based meat market.
North American market is segmented pea as per end-use into categories like burgers, strips and nuggets, meatballs, and more. In 2023, the burgers segment held a 68.7% market share, equivalent to USD 10.2 million. Projections indicate an 11.9% growth rate from 2024 to 2032. Pea protein plays a pivotal role in crafting premium vegan meat burger patties. Its adaptability and synergy with other natural ingredients enable the creation of a wide range of meat substitutes, spanning chicken, beef, pork, and lamb.
Leading meat substitutes pea protein manufacturers include Roquette Freres, which is advancing the market with its high-quality pea protein isolates and concentrates, utilizing cutting-edge processing technologies. Cargill is enhancing product functionality and texture, leveraging its global supply chain and innovative strategies. The Scoular Company has fortified its sourcing and processing infrastructure to ensure a consistent supply of premium pea protein.
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 360synopsis
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Key manufacturers
3.1.2 Distributors
3.1.3 Profit margins across the industry
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Growing concerns regarding animal cruelty, environmental, and health issues of meat consumption
3.2.1.2 Increasing adoption of vegan lifestyles
3.2.2 Market challenges
3.2.2.1 Increasing popularity of lean meats
3.2.2.2 Raw material prices
3.2.3 Market opportunity
3.2.3.1 New opportunities
3.2.3.2 Growth potential analysis
3.3 Raw material landscape
3.3.1 Manufacturing trends
3.3.2 Technology evolution
3.3.2.1 Sustainable manufacturing
3.3.2.1.1 Green practices
3.3.2.1.2 Decarbonization
3.3.3 Sustainability in raw materials
3.3.4 Pricing trends (USD/Ton), 2021 - 2032
3.3.4.1 North America
3.4 Regulations & market impact
3.5 Porter's analysis
3.6 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix
Chapter 5 Market Size and Forecast, By Product, 2021-2032 (USD Million, Tons)
5.1 Key trends
5.2 Pea Protein Isolate
5.3 Pea Protein Concentrate
5.4 Textured Pea Protein
Chapter 6 Market Size and Forecast, By End-Use, 2021-2032 (USD Million, Tons)
6.1 Key trends
6.2 Burgers
6.3 Strips & Nuggets
6.4 Meatballs
6.5 Others
Chapter 7 Market Size and Forecast, By Country, 2021-2032 (USD Million, Tons)
7.1 Key trends
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.2.3 Mexico
Chapter 8 Company Profiles
8.1 Roquette Freres
8.2 Cargill
8.3 The Scoular Company
8.4 Axiom Foods, Inc.
8.5 Emsland Group
8.6 Puris Proteins, LLC
8.7 Ingredion
8.8 DuPont
8.9 A&B Ingredients
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