Pea Fiber Market Overview
Pea Fiber Market Size was estimated at 13.27 (USD Billion) in 2022. The Pea Fiber Market Industry is expected to grow from 14.11(USD Billion) in 2023 to 24.46 (USD Billion) by 2032. The Pea Fiber Market CAGR (growth rate) is expected to be around 6.3% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Pea Fiber Market Trends Highlighted
Due to its health benefits, pea fiber, a soluble fiber from yellow peas, has gathered substantial attention in different sectors. Its remarkable properties, such as its ability to hold water, gel, and thicken, help reinforce the use of pea fiber in food, beverages, and health-related products. Increased health awareness regarding dietary fiber and plant-derived substances are the two key factors fuelling the growth of the pea fiber market.
Key market drivers include pea fiber being embraced as a gluten-free and vegan substitute for cereal ingredients, the growing need for functional food and beverages, and the widening scope of application of pea fiber in the dietary and nutraceuticals segment. Challenges are opportunities poised to develop new ‘novel’ products based on pea fibers, such as pea protein isolate and pea starch, which improves the nutritional aspect.
For instance, there is a rising trend of pea fiber being used in plant-based meat alternatives as thickeners and stabilizers; however, more applications are being found in bakery products for improving texture and shelf life. The market is also experiencing the introduction of green pea fiber production processes that have gained momentum to appeal to consumers for green products.
Pea Fiber Market Drivers
Rising Consumer Demand for Plant-Based Products
The growing awareness of the environmental impact of animal agriculture and the health benefits associated with plant-based diets is driving a surge in demand for pea fiber and other plant-based ingredients. Pea fiber, in particular, is gaining popularity due to its high protein content, neutral taste, and versatility, making it an ideal ingredient for a wide range of plant-based products, including meat alternatives, dairy alternatives, and baked goods.This increasing demand is expected to continue fueling the growth of the Pea Fiber Market Industry in the coming years.
Technological Advancements in Pea Fiber Production
Technological advancements in the production of pea fiber lead to the effective use of new methods of producing the product with enhanced properties. According to McCormick and Angiot, as a result of the use of enzymes and other processing aids, the solubility of pea fiber increases rapidly. At the same time, specialists note that, in general, technology enables significantly increased yields and reduces the amount of insoluble particles. Moreover, these changes improve other functional properties, such as dispersibility.Thus, with the help of modern technologies, pea fiber can be produced with better quality and applicability.
Growing Adoption in Food and Beverage Applications
Pea fiber is gradually gaining traction in the food and beverage industry as a favorable thickener, stabilizer, and texture enhancer. The ingredient’s capacity to impart a creamy, smooth texture and improve mouthfeel is boosting its use in a multitude of products, food items, sauces, dairy alternatives, and even baked goods. The increasing preference toward using such clean labels and plant-based ingredients in the food and beverage industry will continue to drive the uptake of pea fiber in this end-use.
Pea Fiber Market Segment Insights
Pea Fiber Market Application Insights
The major applications of the Pea Fiber Market have been categorized into Food and Beverages, Dietary Supplements, Pharmaceuticals, and Cosmetics. The market size estimates and forecast for the relevant period are given below. Revenue Evaluation of the Food and Beverages Segment. The Food and Beverages segment is projected to represent the largest market share as a result of the increased interest in plant-based nutrition. Specifically, the market revenue for the segment will reach USD 7.89 billion by 2024, growing at a CAGR of 6.5% over the forecast period.The increased interest in vegan and vegetarian foods positively impacts the expansion of the CAGR, and above all, the product demand for pea fiber is growing as a result of its use as a thickening agent, stabilizer, and texture enhancer in a wide range of food products including bakery products, sauces, and dressings. Revenue Evaluation of the Dietary Supplements Segment. In the context of the Dietary Supplements segment, the sales revenue of the Pea Fiber Market will go beyond USD 3.42 billion by 2024, increasing at a CAGR of 7.2% between 2020 and 2024.Finally, the growth of the CAGR remains positive as a result of the increasing interest in the potential health benefits of pea fiber, which is recognized as an important drainage system for the digestive system. It is the combination of large amounts of dietary fiber and low calories that maximizes the potential of pea fiber as a dietary supplement. Revenue Evaluation of the Pharmaceuticals Segment. The other areas of its use refer to the new segment as, in the next four years, the market for pea fiber in pharmaceuticals will grow to USD 1.87 billion, increasing at a CAGR of 8.1%.Pea fiber in pharmaceuticals is used as a bulking agent, binder, and disintegrant’, and drug delivery time control systems are produced.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Pea Fiber Market Grade Insights
The Pea Fiber Market is segmented by Grade into High Purity, Food Grade, and Technical Grade. In 2023, the Food Grade segment held the largest market share of 45.6% and is projected to reach USD 11.23 billion by 2032, exhibiting a CAGR of 6.7% during the forecast period. The growth of this segment can be attributed to the increasing demand for pea fiber in the food industry as a dietary supplement and a source of dietary fiber. Pea fiber is commonly used as a thickener, stabilizer, and gelling agent in various food products such as soups, sauces, and baked goods.It is also gaining popularity as a plant-based alternative to traditional animal-based thickeners and stabilizers.
Pea Fiber Market Source Insights
The source segment of the Pea Fiber Market holds significant importance, with yellow peas, green peas, and field peas accounting for a substantial share of the market. Yellow peas, known for their mild flavor and high protein content, are widely used in the production of pea fiber. Green peas, recognized for their sweet taste and nutritional value, also contribute to pea fiber production. Field peas, characterized by their larger size and starch content, play a role in meeting the demand for pea fiber. The growing demand for plant-based ingredients, coupled with the increasing awareness of pea fiber's health benefits, is driving the market growth.
Pea Fiber Market End-Use Industry Insights
The Pea Fiber Market is segmented based on end-use industry into biodegradable packaging, food fortification, and animal feed. The biodegradable packaging segment is expected to hold the largest share of the market in 2023, owing to the increasing demand for sustainable packaging solutions. The food fortification segment is also expected to witness significant growth, driven by the rising awareness about the nutritional benefits of pea fiber. The animal feed segment is expected to grow steadily, as pea fiber is a rich source of protein and fiber for livestock.In 2023, the biodegradable packaging segment is expected to be valued at USD 6.3 billion, and it is projected to reach USD 10.2 billion by 2032, growing at a CAGR of 6.5%. The food fortification segment is expected to be valued at USD 4.2 billion in 2023, and it is projected to reach USD 6.9 billion by 2032, growing at a CAGR of 6.8%. The animal feed segment is expected to be valued at USD 3.6 billion in 2023, and it is projected to reach USD 5.8 billion by 2032, growing at a CAGR of 6.0%. The growth of the pea fiber market is attributed to the increasing demand for sustainable packaging solutions, the rising awareness about the nutritional benefits of pea fiber, and the growing demand for protein and fiber in animal feed.
Pea Fiber Market Regional Insights
The regional segmentation of the Pea Fiber Market offers valuable insights into the market's geographical distribution and growth patterns. North America holds a significant market share, driven by the growing demand for plant-based protein and dietary fiber in the region. In 2023, the market in North America was valued at 4.1 billion USD and is projected to reach 5.9 billion USD by 2032, exhibiting a steady growth rate of 4.5% over the forecast period. Europe is another key region in the Pea Fiber Market, accounting for a substantial market share.The increasing awareness of the health benefits of pea fiber, particularly in the bakery and food processing industries, contributes to the market's growth in Europe. In 2023, the European Pea Fiber Market was valued at 3.6 billion USD and is estimated to reach 5.3 billion USD by 2032, growing at a CAGR of 4.9%. The Asia-Pacific region presents significant growth opportunities for the Pea Fiber Market due to the rising population and increasing disposable income. The growing demand for pea fiber in food and beverage applications, particularly in countries like China, India, and Japan, drives the market's expansion in the region.In 2023, the APAC Pea Fiber Market was valued at 3.2 billion USD and is projected to reach 4.8 billion USD by 2032, exhibiting a robust growth rate of 5.3%. South America and the Middle East and Africa (MEA) regions are also witnessing a growing demand for pea fiber, primarily driven by the increasing adoption of plant-based diets and the expanding food and beverage industry. These regions are expected to contribute to the overall market growth in the coming years.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Pea Fiber Market Key Players And Competitive Insights
Major players in the Pea Fiber Market industry are constantly striving to gain a competitive edge by adopting various strategies. Some of the key strategies include investing in research and development to innovate new products and applications, expanding their production capacities to meet the growing demand, and strengthening their distribution networks to reach a wider customer base. Leading Pea Fiber Market players are also focusing on developing sustainable and eco-friendly products to cater to evolving consumer preferences and regulatory requirements. Partnerships and collaborations with other players in the value chain are another common strategy to enhance market presence and gain access to new technologies and resources. Mergers and acquisitions are also used to consolidate market position and expand product portfolios.Among the leading companies in the Pea Fiber Market, Roquette Frres is a prominent player with a strong presence. The company has a wide range of pea fiber products, including dietary fibers, texturizers, and stabilizers. Roquette Frres has a dedicated research and development team that focuses on developing innovative pea fiber applications for use in plant-based meat alternatives and gluten-free products. The company has also made significant investments in expanding its production capacity to meet the growing demand for pea fiber.A notable competitor in the Pea Fiber Market is Ingredion Incorporated. The company offers a range of pea fiber ingredients under the HOMECRAFT brand. Ingredion Incorporated has a strong focus on providing customized solutions to its customers, and it has invested in developing a wide range of pea fiber applications. The company has also expanded its reach through acquisitions and partnerships. Ingredion Incorporated has a strong commitment to sustainability, and it is actively working to reduce its environmental footprint throughout its operations.
Key Companies in the Pea Fiber Market Include
Pea Fiber Market Industry Developments
The pea fiber market is projected to reach USD 24.46 billion by 2032, exhibiting a CAGR of 6.3% during the forecast period. Rising demand for plant-based proteins and dietary fiber is driving market growth. Pea fiber is a soluble dietary fiber derived from yellow peas, offering numerous health benefits, including improved digestion, reduced cholesterol levels, and enhanced satiety. The increasing prevalence of digestive disorders, coupled with growing health consciousness, is fueling the adoption of pea fiber as a functional ingredient in various food and beverage applications. Furthermore, the market is witnessing strategic partnerships and collaborations among key players to expand product portfolios and cater to evolving consumer preferences.
Pea Fiber Market Segmentation Insights
| Report Attribute/Metric | Details |
| Market Size 2022 | 13.27(USD Billion) |
| Market Size 2023 | 14.11(USD Billion) |
| Market Size 2032 | 24.46(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 6.3% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Groupe d'InVivo Agro Solution, Axiom Food Ingredients, Far Eastern New Century, AGRANA BeteiligungsAG, Changzhou Broslyn, Yancheng Bellway, Shandong Jinyang Biotechnology, Agrana Group, Cargill, Incorporated, Liaoning Hongda International Group, Conagra Brands, Ingredion Incorporated |
| Segments Covered | Application, Grade, Source, End-Use Industry, Regional |
| Key Market Opportunities | 1.     Functional food ingredient expansion 2.     glutenfree product demand growth 3.     rising consumer health consciousness 4.     growing application in weight management 5.     increasing demand in vegan and vegetarian foods |
| Key Market Dynamics | 1.     Rising demand for plant-based food 2.     Growing health consciousness 3.     Technological advancements in fiber extraction 4.     Increased focus on sustainability 5.     Expansion in application industries |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Pea Fiber Market is expected to reach a valuation of 14.11 Billion USD in 2023.
The Pea Fiber Market is expected to reach a valuation of 24.46 Billion USD in 2032.
The Pea Fiber Market is expected to grow at a CAGR of 6.3% from 2024 to 2032.
North America is expected to dominate the Pea Fiber Market throughout the forecast period.
The Food & Beverages segment is expected to drive the growth of the Pea Fiber Market.
Some of the key competitors in the Pea Fiber Market include Roquette Freres, Ingredion Incorporated, and Farbest Brands.
The growing demand for plant-based food products and the increasing awareness of the health benefits of pea fiber are driving the growth of the Pea Fiber Market.
The high cost of pea fiber and the limited availability of raw materials are some of the challenges faced by the Pea Fiber Market.
The growing popularity of vegan and vegetarian diets and the increasing demand for clean label food products are creating opportunities for growth in the Pea Fiber Market.
The key trends in the Pea Fiber Market include the development of new pea fiber-based products and the increasing use of pea fiber in food fortification.
Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
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