Latin America Pea Protein Market was worth USD 4.77 Million in 2022 and is projected to reach USD 7.89 Million by 2028, at a CAGR of 10.6% during the forecast period from 2023 to 2028.
Pea Proteins are rich in essential nutrients and has an advantage of functional characteristics with a large amount of amino acids. Pea Protein Isolates are being increasingly used in the formulation of meat substitutes on account of its high amino acid content, excellent emulsification, high solubility and good water-binding characteristics.
In the newly growing markets of Latin America, extensive use of pea proteins in food & beverage industry due to its functional characteristics and attractive nutritional profile coupled with increasing western influence is increasing pea protein market in developing nations. But, since the markets in these countries are still developing, there is a threat of stringent regulations by food administration bodies in controlling the prices of the products, along with the market restrictions, due to which the market growth may be constrained.
The Latin America pea protein market is segmented on the basis of type, application and region. On the basis of type, the pea protein market is segmented into concentrated, isolated and textured. In addition, textured pea protein is sub-segmented into wet and dry. Furthermore, on the basis of application the market is segmented into snacks & bakery products, meat extenders, meat substitute, food & beverages and other food application. Meat substitute segment is likely to grow at a significant rate over the forecast period compared to other areas.
Geographically the Latin America Pea Protein Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. The newly emerging markets of Latin America are slowly attracting a lot of global companies with the increasing lands that grows peas, due to which there is a great increase in the production in the recent times. Also, rising adoption of western culture is also leading the global companies to expand their markets in Latin American countries.
Key Players in the Market:
Major Key Players in the Latin America Pea Protein Market are
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