Adoption of pea protein in South Korea is to exhibit a compound annual growth rate of 12.1% through 2033. The pea protein industry in South Korea is poised to witness significant opportunities with a US$ 87.0 million valuation in 2023.
The adoption of vegetarian and vegan diets is increasing in South Korea. Pea protein, as a plant-based protein source, aligns with the dietary preferences of these consumer groups.
South Korea has a growing demand for clean-label and natural food products. Pea protein is minimally processed and perceived as a clean and natural source. By 2033, pea protein adoption in South Korea will likely secure US$ 271.0 million.
Key Insights - Highlights to Understand Emerging and Fast-Growing Opportunities
| Attributes | Details |
|---|---|
| Industry Size | US$ 87.0 million |
| Expected Industry Size in 2033 | US$ 271.0 million |
| Forecasted CAGR from 2023 to 2033 | 12.1% |
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The high protein content of isolates makes them suitable for use in sports nutrition products. Athletes and fitness enthusiasts often seek protein isolates for muscle recovery and growth, contributing to segmental growth.
| Pea Protein in South Korea based on Product Type | Protein Isolates |
|---|---|
| Share in % in 2033 | 45.1% |
Based on product type, the protein isolates segment is expected to account for a share of 45.1% in 2033. Pea protein isolates are considered hypoallergenic, making them suitable for individuals with food allergies or sensitivities.
Pea protein isolates are minimally processed and are perceived as clean-label ingredients. Isolates are increasingly used in various food and beverage applications, as consumer preferences for natural and clean label products grow.
Protein isolates have a neutral flavor profile and can be incorporated into a wide range of food products, including dairy alternatives, meat alternatives, snacks, and baked goods. South Korean consumers are increasingly focused on health and wellness, driving the demand for protein-rich products. Pea protein isolates cater to these trends.
The growth of plant-based and clean meat alternatives is boosting the use of pea protein isolates. They provide the right texture and protein content for meat analogs. The isolates are essential in the formulation of dairy-free and vegan products, such as plant-based milk, yogurt, and ice cream, which are gaining popularity.
| Pea Protein in South Korea based on Processing | Dry Processing |
|---|---|
| Share in % in 2033 | 67.7% |
Based on processing, the dry processing segment is expected to account for a share of 67.7% in 2033. Dry processing methods are highly effective in concentrating pea protein, resulting in powders with a high protein content. The methods are in high demand among consumers seeking protein-rich dietary options.
Dry processing helps in reducing the moisture content in pea protein, extending its shelf life and enhancing product stability. Pea protein produced through dry processing typically has a neutral flavor profile, allowing it to be incorporated into a wide range of food products without significantly altering taste.
Dry processed pea protein powders are known for their good solubility, making them suitable for use in a variety of applications, including beverages, protein shakes, and dietary supplements. Dry processing helps in achieving a high level of purity in pea protein products, reducing the presence of unwanted compounds and allergens.
Dry processed pea protein powders are versatile ingredients in various food and beverage applications, such as dairy alternatives, meat analogs, snacks, and baked goods. The growth of plant-based and clean meat alternatives is boosting the use of dry processed pea protein. It provides the right texture and protein content for meat analogs.
Principal Consultant
South Gyeongsang boasts significant agricultural potential with favorable climate conditions. The cultivation of peas, a key source of pea protein, can be supported by these conditions, potentially leading to increased local production.
Government incentives and policies that promote sustainable agriculture and plant based food production can encourage local farmers to grow peas for protein extraction. Increasing consumer awareness about the health and environmental benefits of plant based proteins can drive demand for pea protein products.
The food and beverage industry in the region can benefit from incorporating locally sourced pea protein into their products, appealing to consumers who prefer products with local ingredients. South Korean consumers are becoming more eco conscious. Locally produced pea protein with a lower carbon footprint can align with sustainability trends.
Partnering with local universities and research institutions can foster innovation in pea protein production and its application in food products. Educational initiatives and campaigns promoting plant based diets can boost the demand for pea protein as an essential ingredient in various plant based foods.
The food and beverage industry in North Jeolla can benefit from incorporating locally sourced pea protein into their products, appealing to consumers who prefer foods made with local ingredients. Growing awareness of the health benefits of plant-based proteins can drive consumer demand for pea protein products as a healthier alternative.
The potential of the province to produce locally sourced pea protein with a lower environmental footprint can align with consumer sustainability trends, especially as environmental concerns gain significance.
Promoting plant-based diets and the benefits of pea protein through educational initiatives can increase consumer demand in the region. Government and industry support for local start-ups and small to medium-sized enterprises (SMEs) can encourage entrepreneurship in the pea protein sector.
Producing pea protein locally for local consumption can reduce transportation costs and carbon emissions, aligning with sustainability goals. Incorporating pea protein into a variety of food products, such as snacks, beverages, and meat alternatives, can expand the range of offerings and cater to diverse consumer preferences.
The temperate climate and rich volcanic soil in Jeju can support the cultivation of peas, a primary source of pea protein. Local pea farming can increase the availability of raw materials for pea protein production. The tourism industry attracts health-conscious tourists in Jeju.
Local food and beverage businesses can leverage this by offering products enriched with pea protein, catering to health-conscious tourists. Producing pea protein locally can align with Jeju's focus on self-sufficiency and environmental sustainability.
The demand for health-focused foods, including those incorporating pea protein, can rise as Jeju becomes a hub for health and wellness tourism. The island's proximity to international industries and access to ports can facilitate the export of pea protein products to other regions and countries.
A competitive environment can stimulate innovation and quality improvement, making pea protein products more attractive and affordable to consumers. The food and beverage industry in the island can incorporate locally sourced pea protein into their products, promoting the use of locally grown ingredients and appealing to consumers who prefer such products.
The competitive landscape of the pea protein industry in South Korea is dynamic and evolving, driven by increasing consumer demand for plant-based protein products and sustainable food options. Several companies are actively participating in this industry, both domestic and international players. The industry is expected to remain competitive in the coming years as companies continue to innovate and develop new products.
Recent Developments Observed in South Korean Pea Protein Industry
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| Attribute | Details |
|---|---|
| Estimated Industry Size in 2023 | US$ 87.0 million |
| Projected Industry Size in 2033 | US$ 271.0 million |
| Anticipated CAGR from 2023 to 2033 | 12.1% CAGR |
| Historical Analysis of Demand for Pea Protein in South Korea | 2018 to 2022 |
| Demand Forecast for Pea Protein in South Korea | 2023 to 2033 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing Pea Protein adoption in South Korea, Insights on Global Players and their Industry Strategy in South Korea, Ecosystem Analysis of South Korean Manufacturers |
| Key Provinces Analyzed while Studying Opportunities in Pea Protein in South Korea | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
| Key Companies Profiled | CJ CheilJedang; LG Chem; KGC Ginseng Corporation; Lotte Corporation; Samsung SDS; Daesang Corporation; Ingredion; Roquette; Emsland Group; Nutri-Pea; Shandong Jianyuan Foods; Shandong Huatai Food |
The pea protein industry in South Korea is to be valued at US$ 87.0 million by 2023.
The anticipated CAGR through 2033 is 12.1%.
Demand for pea protein in South Korea is expected to reach US$ 271.0 million by 2033.
Protein isolates segment is expected to dominate the demand for pea protein.
Dry processing segment to remain a key contributor in the South Korean pea protein ecosystem.
1. Executive Summary
1.1. Korea Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Mn) & Volume (MT) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Mn) & Volume (MT) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Mn) & Volume (MT) Analysis By Product Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Mn) & Volume (MT) Analysis and Forecast By Product Type, 2023 to 2033
5.3.1. Protein Concentrates
5.3.2. Protein Isolates
5.3.3. Textured Protein
5.3.4. Hydrolyzed Protein
5.4. Y-o-Y Growth Trend Analysis By Product Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product Type, 2023 to 2033
6. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Nature
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Mn) & Volume (MT) Analysis By Nature, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Mn) & Volume (MT) Analysis and Forecast By Nature, 2023 to 2033
6.3.1. Organic
6.3.2. Conventional
6.4. Y-o-Y Growth Trend Analysis By Nature, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Nature, 2023 to 2033
7. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Processing
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Mn) & Volume (MT) Analysis By Processing, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Mn) & Volume (MT) Analysis and Forecast By Processing, 2023 to 2033
7.3.1. Dry Processing
7.3.2. Wet Processing
7.4. Y-o-Y Growth Trend Analysis By Processing, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Processing, 2023 to 2033
8. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By End Use
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Mn) & Volume (MT) Analysis By End Use, 2018 to 2022
8.3. Current and Future Market Size Value (US$ Mn) & Volume (MT) Analysis and Forecast By End Use, 2023 to 2033
8.3.1. Food Processing
8.3.1.1. Meat Alternatives
8.3.1.2. Bakery Products
8.3.1.3. Confectionery
8.3.1.4. Snacks & Cereals
8.3.1.5. Meat-Based Products
8.3.1.6. Functional Beverages
8.3.1.7. Others
8.3.2. Animal Feed
8.3.2.1. Cattle
8.3.2.2. Swine
8.3.2.3. Poultry
8.3.2.4. Pet Food
8.3.2.5. Aquafeed
8.3.3. Nutraceuticals
8.3.4. Sports Nutrition
8.3.5. Infant Nutrition
8.3.6. Cosmetic and Personal Care
8.4. Y-o-Y Growth Trend Analysis By End Use, 2018 to 2022
8.5. Absolute $ Opportunity Analysis By End Use, 2023 to 2033
9. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
9.1. Introduction
9.2. Historical Market Size Value (US$ Mn) & Volume (MT) Analysis By Region, 2018 to 2022
9.3. Current Market Size Value (US$ Mn) & Volume (MT) Analysis and Forecast By Region, 2023 to 2033
9.3.1. South Gyeongsang
9.3.2. North Jeolla
9.3.3. South Jeolla
9.3.4. Jeju
9.3.5. Rest of Korea
9.4. Market Attractiveness Analysis By Region
10. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
10.1. Historical Market Size Value (US$ Mn) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Mn) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Product Type
10.2.2. By Nature
10.2.3. By Processing
10.2.4. By End Use
10.3. Market Attractiveness Analysis
10.3.1. By Product Type
10.3.2. By Nature
10.3.3. By Processing
10.3.4. By End Use
10.4. Key Takeaways
11. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
11.1. Historical Market Size Value (US$ Mn) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Mn) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Product Type
11.2.2. By Nature
11.2.3. By Processing
11.2.4. By End Use
11.3. Market Attractiveness Analysis
11.3.1. By Product Type
11.3.2. By Nature
11.3.3. By Processing
11.3.4. By End Use
11.4. Key Takeaways
12. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
12.1. Historical Market Size Value (US$ Mn) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Mn) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Product Type
12.2.2. By Nature
12.2.3. By Processing
12.2.4. By End Use
12.3. Market Attractiveness Analysis
12.3.1. By Product Type
12.3.2. By Nature
12.3.3. By Processing
12.3.4. By End Use
12.4. Key Takeaways
13. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
13.1. Historical Market Size Value (US$ Mn) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Mn) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Product Type
13.2.2. By Nature
13.2.3. By Processing
13.2.4. By End Use
13.3. Market Attractiveness Analysis
13.3.1. By Product Type
13.3.2. By Nature
13.3.3. By Processing
13.3.4. By End Use
13.4. Key Takeaways
14. Rest of Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
14.1. Historical Market Size Value (US$ Mn) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Mn) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Product Type
14.2.2. By Nature
14.2.3. By Processing
14.2.4. By End Use
14.3. Market Attractiveness Analysis
14.3.1. By Product Type
14.3.2. By Nature
14.3.3. By Processing
14.3.4. By End Use
14.4. Key Takeaways
15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1. By Regional
15.3.2. By Product Type
15.3.3. By Nature
15.3.4. By Processing
15.3.5. By End Use
16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. KWANGIL Co., Ltd
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.2. Golden Grain Group Limited
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.3. Glanbia Plc
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.4. Sotexpro SA
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.5. Ingredion, Inc.
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.6. Axiom Foods, Inc.
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.7. Fenchem Inc.
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
16.1.8. Martin & Pleasance.
16.1.8.1. Overview
16.1.8.2. Product Portfolio
16.1.8.3. Profitability by Market Segments
16.1.8.4. Sales Footprint
16.1.8.5. Strategy Overview
16.1.8.5.1. Marketing Strategy
16.1.9. The Green Labs LLC
16.1.9.1. Overview
16.1.9.2. Product Portfolio
16.1.9.3. Profitability by Market Segments
16.1.9.4. Sales Footprint
16.1.9.5. Strategy Overview
16.1.9.5.1. Marketing Strategy
16.1.10. Cargill, Incorporated
16.1.10.1. Overview
16.1.10.2. Product Portfolio
16.1.10.3. Profitability by Market Segments
16.1.10.4. Sales Footprint
16.1.10.5. Strategy Overview
16.1.10.5.1. Marketing Strategy
16.1.11. Ingredion Incorporated
16.1.11.1. Overview
16.1.11.2. Product Portfolio
16.1.11.3. Profitability by Market Segments
16.1.11.4. Sales Footprint
16.1.11.5. Strategy Overview
16.1.11.5.1. Marketing Strategy
16.1.12. Koninklijke DSM N.V.
16.1.12.1. Overview
16.1.12.2. Product Portfolio
16.1.12.3. Profitability by Market Segments
16.1.12.4. Sales Footprint
16.1.12.5. Strategy Overview
16.1.12.5.1. Marketing Strategy
16.1.13. Archer Daniels Midland Company
16.1.13.1. Overview
16.1.13.2. Product Portfolio
16.1.13.3. Profitability by Market Segments
16.1.13.4. Sales Footprint
16.1.13.5. Strategy Overview
16.1.13.5.1. Marketing Strategy
17. Assumptions & Acronyms Used
18. Research Methodology
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Trends, Growth, and Opportunity Analysis of Pea Protein in South Korea
