South Korea Pea Protein Market Outlook
According to a new report by Expert Market Research titled “South Korea Pea Protein Market Size, Share, Analysis, Report, Demand, Forecast 2024-2032″, the South Korea pea protein market is projected to grow at a CAGR of 10.5% between 2024 and 2032. Aided by its growing influence in the health and wellness sector, the market is expected to grow significantly by 2032.
Pea protein, derived from yellow peas, is gaining popularity as a highly nutritious and environmentally friendly alternative to animal-based proteins. Rich in essential amino acids, it’s an excellent source of protein for vegetarians, vegans, and those with lactose intolerance or allergies to dairy products. In South Korea, where health and fitness trends are rapidly evolving, pea protein is increasingly incorporated into various food products like meat alternatives, protein bars, and dietary supplements.
The South Korea pea protein market growth is largely attributed to the growing trend of plant-based diets and the increasing consumer inclination towards fitness and health. The burgeoning vegan and vegetarian population in South Korea, coupled with the rising awareness of the health benefits of plant-based proteins, is propelling the demand for pea protein products.
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Additionally, the ongoing research and development in food technology has resulted in improved taste and texture of pea protein-based products, further enticing health-conscious consumers. This has also led to its widespread application in the food and beverage industry, from dairy alternatives to meat substitutes, appealing to a broad range of consumers seeking healthier lifestyle choices.
Sustainability is a pivotal factor boosting the South Korea pea protein market demand. Pea protein production has a lower environmental footprint compared to traditional animal proteins, aligning with the global shift towards sustainable food production. This aspect resonates strongly with South Korean consumers, who are increasingly aware of the environmental impacts of their food choices.
According to the South Korea pea protein market analysis, innovative product developments and the incorporation of pea protein into mainstream food items are trends gaining momentum. The market has seen an influx of new products, ranging from plant-based burgers to protein-enriched snacks, catering to the diverse tastes and preferences of South Korean consumers.
Regionally, the market is influenced by its robust food and beverage industry and the rapid adoption of Western dietary trends. Urbanisation, higher disposable incomes, and a strong focus on health and wellness are key factors contributing to the market growth. Additionally, South Korea’s strategic position in the Asia Pacific region offers ample opportunities for export, further bolstering the market’s potential.
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South Korea Pea Protein Market Segmentation
The market can be divided based on product and application.
Market Breakup by Product
- Isolates
- Concentrates
- Textured
Market Breakup by Application
- Dietary Supplements
- Bakery Products
- Meat Substitutes
- Beverages
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the market. Some of the major players explored in the report by Expert Market Research are as follows:
- Cargill, Incorporated
- Roquette Frères S.A
- The Archer-Daniels-Midland Company
- Ingredion Incorporated
- KWANGIL Co., Ltd.
- Others
Comprehensive Interrogatives Addressed within the Expansively Detailed Report
What denoted the quantitative expanse of the South Korea pea protein market in the chronological epoch of 2023?
- In the temporal expanse of 2023, the South Korea pea protein market achieved a commendable valuation, registering a value/volume approximation of nearly USD 29.1 million.
Could you articulate the trajectory indicative of the growth rate permeating the market?
- The market is meticulously prognosticated to navigate a trajectory of expansion, prognosticated to unfurl at a Compound Annual Growth Rate (CAGR) of 10.5% during the interval spanning from 2024 to 2032.
What constitutes the prognosticated outlook enveloping the market within the delineated span of 2024-2032?
- Prognostications posit an auspicious scenario wherein the market is poised to experience robust proliferation throughout the forecasted period of 2024-2032, culminating in an estimated valuation ascending to USD 52.0 million by the culminating year, 2032.
What are the pivotal catalysts propelling the South Korea pea protein industry?
- Foremost catalysts encompass the ascending trajectory of disposable income, elevated living standards, escalating demand for environmentally safe and organic health supplements, and heightened consumer awareness, collectively constituting the primary drivers of the South Korea pea protein industry.
What exemplifies the cardinal trends characterizing the South Korea pea protein market within the industry milieu?
- Cardinal trends encapsulating market dynamics include the burgeoning populace of lactose-intolerant individuals, a myriad of health benefits associated with pea protein consumption, and an escalating contingent of health-conscious clientele, all of which collectively embody the key trends of the market.
What typologies dominate the spectrum of products within the industry framework?
- Dominant product typologies within the industry framework encompass isolates, concentrates, and textured varieties of pea protein.
Who garners distinction as the paramount entities within the industry landscape, in accordance with the comprehensive report?
- Paramount entities within the industry milieu comprise industry stalwarts such as Cargill, Incorporated, Roquette Frères S.A, The Archer-Daniels-Midland Company, Ingredion Incorporated, and KWANGIL Co., Ltd, amid a constellation of other notable entities.
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