- The North American pea protein ingredients market is projected to register a CAGR of 7.53% to reach 134.82 million usd in 2026.?
- Textured/Hydrolyzed are the fastest-growing segment in the form category with a projected CAGR of 7.79% during 2021-2026?
- Bunge Limited emerged as a market leader, attaining 18.49% of the market share.?
- The demand for pea protein hydrolysates was led by the food and beverage sector, primarily dominated by meat alternative products.?
- The trend is majorly driven by the rising vegan population in the region and the growing demand for high protein plant-based meats. The number of vegans living in the United States is about 10 million.?
- Hydrolysates are already available in pre-digested form, gaining an edge among consumers suffering from weaker digestive systems.??
- The competitive prices also boost their demand among formulators. Over the review period, the ingredient was priced 5-10% lower than other forms, such as isolates.?
Pea Processing Plant in North Dakota?
- Anchor Ingredients invested in building a pea processing plant in North Dakota to serve the food and pet food markets. This development was driven by the growing demand for plant-based proteins, specifically pea protein, in the food and beverage and feed markets.?
- Companies like Anchor Ingredients Co. LLC, Ingredion Inc., and Roquette Frères were also engaging in acquisitions. For instance, Anchor acquired a rail-loading and storage facility in Culbertson.?
- It uses the new pulse facility to grow specialty crops, mainly peas and lentils, from Montana and western North Dakota, providing easy and timely distribution of superior ingredients.?
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