The South Korea pea protein market size has experienced significant growth, reaching a value of over USD 32.16 million in 2023. With increasing consumer demand for plant-based protein sources, the industry is projected to grow at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2032, reaching an estimated value of USD 77.53 million by 2032. This expansion is fueled by key industry developments, growing health consciousness, and a shift towards sustainable nutrition.Key Benefits of Pea Protein
Pea protein, derived from yellow peas, is celebrated for its nutritional value and versatility. It is a rich source of essential amino acids, making it a high-quality protein option for vegetarians, vegans, and individuals with lactose intolerance or gluten sensitivity. Its hypoallergenic nature makes it an ideal ingredient in food products for those with dietary restrictions. Additionally, pea protein promotes muscle growth and repair, supports weight management, and is easily digestible, making it a popular ingredient in sports nutrition and plant-based food products. Given the rise of the plant-based food movement, pea protein offers both functional and environmental benefits, contributing to a growing consumer base in South Korea.
Get a Free Sample Report with a Table of Contents: bityl.co/RzUJ
Key Industry Developments
In recent years, there have been several notable developments in the South Korea pea protein industry. Food manufacturers are increasingly incorporating pea protein into a variety of products, such as plant-based meat alternatives, dairy-free products, and nutritional supplements. Major food companies are investing in research and development to improve the texture, taste, and functionality of pea protein in these products. Additionally, the rising demand for clean-label, non-GMO, and sustainable food products has spurred innovation in pea protein processing techniques, enhancing its market appeal. The South Korean government is also supporting plant-based initiatives through policy and funding, which is helping boost the industry.
Driving Factors for the South Korea Pea Protein Market
Several factors are driving the growth of the South Korea pea protein market. First, the increasing consumer awareness of the health and environmental benefits of plant-based diets is a key driver. With rising concerns about the impact of animal agriculture on the environment, many consumers are seeking more sustainable food sources, and pea protein fits this demand. Second, the growing popularity of fitness and wellness trends has increased demand for protein-rich products, leading to the integration of pea protein in protein powders, bars, and shakes. Finally, the rise of food allergies and intolerances, particularly to dairy and gluten, has made pea protein a preferred alternative in allergen-free food products.
Major Key Players in the South Korea Pea Protein Market
Some of the key players in the South Korea pea protein market include:
Roquette Frères
Cargill, Inc.
Ingredion Incorporated
Axiom Foods, Inc.
Cosucra Groupe Warcoing
Shandong Jianyuan Group
These companies are investing in research, development, and strategic partnerships to enhance their market presence and meet the growing demand for pea protein in South Korea.
The future of the South Korea pea protein market is bright, with strong growth expected in the coming years. As consumer demand for plant-based nutrition continues to rise, pea protein will play an increasingly important role in the food.