Pea Protein Market in South Korea Trends & Forecast 2024
The Pea Protein Market in South Korea is on a remarkable growth trajectory, driven by an increasing shift toward plant-based diets, consumer demand for clean-label food products, and sustainability initiatives. The market is projected to reach a valuation of USD 88.0 million in 2024 and is forecast to expand to USD 272.0 million by 2034, with an accelerated CAGR of 13.1% over the forecast period. This growth is fueled by increased government support, growing awareness of health and wellness, and advancements in pea protein processing technology.
Key Market Trends for Pea Protein Market in South Korea
1. Growing Demand for Plant-Based Alternatives
- Shift Toward Vegan and Vegetarian Diets: South Korean consumers are shifting from traditional animal-based proteins to plant-based protein options such as pea protein, driven by growing health consciousness and ethical consumption.
- Increasing Focus on Sustainability: As pea protein has a smaller environmental footprint compared to animal proteins, companies are leveraging sustainability as a key marketing point.
2. Demand from Fitness and Sports Nutrition
- Fitness Boom: The growing demand for high-protein sports nutrition supplements is driving the use of pea protein in protein powders, protein bars, and meal replacements.
- Demand for Recovery Supplements: The muscle recovery properties of pea protein make it a preferred choice for athletes and fitness enthusiasts.
3. Surge in Demand for Clean-Label Products
- Preference for Minimal Processing: Consumers are demanding clean-label ingredients, and minimally processed pea protein fits this need.
- Allergen-Free and Non-GMO Appeal: Pea protein is naturally free from common allergens like dairy, soy, and gluten, making it a suitable alternative for consumers with dietary restrictions.
Market Segmentation in Pea Protein Market in South Korea
| Segment | Category | Market Share (2034) |
| Product Type | Isolates, Concentrates, Textured Protein, Hydrolyzed Protein | Isolates (46.1%) |
| Processing Type | Dry Processing, Wet Processing | Dry Processing (68.7%) |
| Application | Food Processing, Bakery, Snacks, Meat Alternatives, Functional Beverages, Sports Nutrition, Cosmetics | Meat Alternatives (28.2%) |
| Region | South Gyeongsang, North Jeolla, South Jeolla, Jeju | South Gyeongsang & North Jeolla lead |
Regional Insights for Pea Protein Market in South Korea
1. South Gyeongsang Province
- Supportive Government Initiatives: The South Korean government offers financial incentives to encourage the production of plant-based protein, particularly in South Gyeongsang.
- Agricultural Advantages: The favorable climate conditions in South Gyeongsang allow for efficient pea cultivation, providing a local supply of raw materials.
- Export Potential: Manufacturers in the region can capitalize on export opportunities to meet the increasing global demand for pea protein.
2. North Jeolla Province
- Local Sourcing and Production: The development of pea protein processing units and local supply chains in North Jeolla strengthens the overall market ecosystem.
- Consumer Shift Toward Local Ingredients: Consumer preference for locally sourced, eco-friendly ingredients is driving demand for pea protein in North Jeolla.
3. Jeju Island
- Tourism and Wellness Hub: Jeju’s focus on health tourism opens up opportunities for the introduction of pea protein-enriched health foods and snacks for tourists.
- Local Cultivation Potential: The island’s fertile volcanic soil and temperate climate support the cultivation of peas, enhancing local production capacity.
Market Drivers for Pea Protein Market in South Korea
1. Health and Wellness Awareness
- South Korean consumers are becoming more health-conscious, leading to increased demand for plant-based protein supplements and functional foods.
- Clean-label and allergen-free attributes are driving demand for minimally processed pea protein products in South Korea.
2. Government Support for Sustainable Food Production
- Government incentives and regulatory support are fostering innovation in plant-based protein production.
- Funding for local R&D projects and collaborations with educational institutions is enabling the development of advanced processing technologies.
3. Growing Popularity of Meat Substitutes
- Meat analogs such as plant-based burgers, nuggets, and sausages are utilizing pea protein as a key ingredient due to its ability to mimic meat texture and taste.
- South Korean food manufacturers are increasingly focusing on the development of plant-based meat alternatives to meet consumer demand.
Challenges in Pea Protein Market in South Korea
- High Production Costs: The cost of producing pea protein, especially through dry processing, poses a challenge for manufacturers.
- Soy Protein Competition: South Korea has a traditional reliance on soy protein, and convincing consumers to switch to pea protein remains a challenge.
- Consumer Awareness: While interest in plant-based diets is growing, awareness of pea protein’s unique benefits still requires promotional efforts.
Competitive Landscape in Pea Protein Market in South Korea
| Company | Recent Developments |
| CJ CheilJedang | Launched a high-purity pea protein isolate aimed at sports nutrition and functional beverages. |
| LG Chem | Expanded production capacity to meet regional and export demand for pea protein. |
| KGC Ginseng Corporation | Launched a new pea protein concentrate for use in bakery and beverage applications. |
| Lotte Corporation | Entered the plant-based protein market with the launch of ready-to-eat products featuring pea protein. |
Market Forecast (2024-2034) for Pea Protein Market in South Korea
| Year | Market Size (USD Million) | Growth Rate (CAGR) |
| 2024 | 88.0 | – |
| 2029 | 187.0 | – |
| 2034 | 272.0 | 13.1% CAGR |
Comprehensive Report Scope for Pea Protein Market in South Korea
| Attribute | Details |
| Estimated Industry Size (2024) | USD 88.0 million |
| Projected Industry Size (2034) | USD 272.0 million |
| Analysis Coverage | Market size, segmentation, market trends, opportunities, challenges, competitive analysis |
| Key Companies Profiled | CJ CheilJedang, LG Chem, KGC Ginseng Corporation, Lotte Corporation, Samsung SDS |
| Provinces Analyzed | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
Frequently Asked Questions (FAQs) for Pea Protein Market in South Korea
Q1: How large is the pea protein market in South Korea in 2024?
- The market is expected to reach USD 88.0 million in 2024.
Q2: What is the expected market size of pea protein in South Korea by 2034?
- The market is projected to hit USD 272.0 million by 2034.
Q3: What is the expected CAGR of the pea protein market in South Korea?
- The market is anticipated to grow at a CAGR of 13.1% from 2024 to 2034.
Q4: Which region leads in pea protein production?
- South Gyeongsang and North Jeolla are leading regions in pea protein production.
Q5: Which companies are the key players in South Korea’s pea protein market?
- Major players include CJ CheilJedang, LG Chem, KGC Ginseng Corporation, Lotte Corporation, and Samsung SDS.
Take Action Now!
Contact us today to access the full report and propel your business forward.