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Global Pea Protein Market 2018-2023 - Size, Trends, Competitive Analysis and Forecasts

  • ID: 4495879
  • Report
  • March 2018
  • Region: Global
  • 156 pages
  • Hypercube Insights
1 of 4


  • Axiom Foods
  • Fenchem Inc
  • Ingredion Inc
  • Prinova Group LLC
  • Roquette Frerers
  • Sotexpro S.A.
  • MORE
The demand for different types of dietary protein has seen a surge in last decade. The consumption of products such as protein bars, protein powders, and additives is growing at a healthy rate. Plant protein products have gained prominence due to rising environment concern over animal farming and growing trend of veganism. Pea protein is the latest addition in plant protein market. The pea protein market has witnessed rapid expansion due to cheap cost compared to whey protein & soy protein and wider versatility in applications across food and feed industry. Another major factor for popularity in pea protein products is limited presence of allergens as opposed to milk, eggs, soy, fish protein products and thus catering to those following restricted diets. The pea protein market was worth $57.2 million in 2017 and is forecasted to grow at the CAGR of 9.1% from 2018-2023.

Industry Dynamics

Rising number of health issues such as obesity, diabetes, high blood pressure, kidney diseases and simultaneous consciousness among the consumers has led medical fraternity, food industry, healthcare providers and world health organization (WHO) to search for preventive measures of the diseases. Pea protein has found its place as a solution to health issues due to great amino acid profile and proven health benefits in weight loss, increase muscle thickness, reduce blood pressure, regulate blood sugar and lessen risk of kidney disease. Growing recommendations from nutritionist and fitness trainers for weight loss and muscle gain is creating a platform for pea protein market. In addition, there is increasing demand for plant-based beverages whether to cure diseases or to stay fit and healthy, driving the application of pea protein. The growing popularity of pea protein to enhance texture, viscosity and appearance of food products has amplified the demand from food and beverage manufacturers. Increasing demand coupled with cheap and easy production process which is devoid of chemical application will maintain a positive supply demand dynamics of pea protein market.

Pea production has remained constant throughout the last decade. Relatively stable supply and skyrocketing demand for peas from food and beverage industry has created an imbalance in the industry. Exposure to volatility in the market greatly influences the production cost. Threat from substitute products like dairy protein and plant based protein poses a big challenge to the manufactures. The awareness about the pea protein and its products especially among the adult population across the globe is low compared to the awareness among the young population. Lesser visibility in retail space is also hindering the expansion of the market. Sports, infant formula and animal feed industry are the opportunity segments for the market.

Pea Protein Isolate-Most consumed type

Pea protein isolate represents around 35% of total pea protein market. The market size of pea protein isolate is growing at a rapid rate due to huge health benefits. With rapid increase in application in supplement industry, the market revenue of pea protein isolate is expected to reach at $18.4 million. Concentrated form of pea protein is used in meat, flour and dairy products. It has wider applications in cosmetics, pharmaceuticals and medical industry. With increasing research on the pea protein concentrate application across different industries, the market is expected to exhibit a healthy growth rate during the forecast period.

Food Industry - Major Consumer of Pea Protein

In food industry, pea protein is majorly used as an ingredient and represents the highest market share of around 40% as compared to the other applications of the pea protein. To add flavors, nutritional and functional values, major dairy and meat producing companies are adding pea protein to develop wide range of dairy and meat products. Over the years, the number of pea protein application across confectionery items such as chocolates, pastries, jellies, chewing gums, candies, and sweets has increased. In many confectionary items eggs are considered as a major ingredient as it brings softness to them, but yolk of the egg contains high cholesterol and hence in many confectionery items, pea protein powder is used as a partial egg replacement.

High digestibility and solubility of pea protein has led to increase in the application of beverage industry. Many beverage manufactures are experimenting with the pea protein as an alternative protein solution to soy or whey protein and are continuously increasing its application in soft drinks, energy drinks and vegetarian dietary milk. High protein content and optimum amino acid ratio of pea protein has made its way as an application in the feed industry and is expected to grow at a steady growth rate during the forecast period. The other minor applications of pea protein include cosmetic, personal care, skin care and medical industry.

Asia - Potential Market for Business Expansion

North America leads the global pea protein market in terms of revenue and captures one-third share of pea protein market. Canada and the U.S. are the major market in North America. Europe is the second largest pea protein market with Germany, U.K. and France leading the market share. In both the continent, increasing number of vegan and vegetarian consuming plant-based diets is the major driving force of rapidly growing market of pea protein. Increased demand for non-allergen, gluten free and lactose free protein ingredients is another reason for growth in pea protein market in the region.

Given the size of the region and the rapid growth of the population, Asia Pacific has a huge potential for the pea protein. The pea protein market in Asia-Pacific accounts for around quarter of global pea protein market in terms of revenue however is projected to grow at a fastest rate compared to other regions. Young population increasingly indulging in health and fitness activities combined with increasing income of middle class population in the region are driving factors for the growth of pea protein market. China, India, Japan and Australia are the important markets in the region. South America Pea protein market is in early introduction phase and is largely driven by demand from sports industry and youngsters to build strong muscles and healthy body.

Product Innovation and overseas expansion preferred strategies of leading players

The global market of pea protein is currently controlled by the major pea protein producers in the developed regions of North America and Europe. The companies in these regions are experiencing tough competition for market share. The companies have adopted strategies such as developing innovative products, setting low prices, driving innovative and customer demand-oriented marketing campaigns and running constant ads on the well-known platforms to get through the competition and place themselves on the top by delivering low price and high-quality products. Leading producers are expanding their product portfolio according to the needs and requirement of customers by varying different contents in the products. The government in fastest developing nations like China, India, Brazil and Mexico are taking various initiatives to support local companies by providing subsidies, particularly to the small and medium size companies.

Key Deliverables:
  • Market trends since 2014 and five year forecasts of market growth
  • Detailed analysis of the micro and macro elements influencing demand trends
  • Identifying opportunity spaces across segments and countries
  • Supply & demand side trend and analysis
  • Price trend analysis, investment prospects and competition pattern
  • Insights on growth potential of the market in key countries
  • Detailed analysis of major producers covering financial investments & strategies adopted
  • Competitive landscape of the industry
Note: Product cover images may vary from those shown
2 of 4


  • Axiom Foods
  • Fenchem Inc
  • Ingredion Inc
  • Prinova Group LLC
  • Roquette Frerers
  • Sotexpro S.A.
  • MORE
1. Introduction
1.1 Research Methodology
1.2 Scope of the Study
1.3 Assumptions

2. Summary
2.1 Market Summary By Type
2.2 Market Summary By Application
2.3 Market Summary by Geography
2.4 Business Trends Summary

3. Industry Dynamics
3.1 Drivers
3.1.1 Growing demand of plant based protein from vegan/vegetarian population
3.1.2 Rising Health consciousness especially in developing countries
3.1.3 Increasing demand for lactose-free, gluten free protein products
3.2 Restraints
3.2.1 High cost of production
3.2.2 Growing threat from substitute products
3.2.3 Low awareness about the pea protein based products
3.3 Opportunities
3.3.1 Growing applications in sports nutrition & weight management
3.3.2 Rising demand for plant based protein in food and beverage industry
3.4 Porter’s Five Forces Analysis
3.4.1 Bargaining power of Suppliers
3.4.2 Bargaining power of Buyers
3.4.3 Degree of Competition
3.4.4 Threat of Substitution
3.4.5 Threat of new entrants
3.5 Future Trends in Pea Protein Industry
3.6 Value Chain Analysis
3.7 Industry Policies & Regulations
3.8 Market Innovations

4. Market Size and Forecast
4.1 Market Share, Type
4.1.1 Pea Protein Isolate
4.1.2 Pea Protein Concentrate
4.1.3 Textured Pea Protein Dry Textured Wet Textured
4.1.4. Hydrolyzed Pea Protein
4.2 Market Share, Processing
4.2.1 Ultrafiltration
4.2.2 Isoelectric Precipitation
4.2.3 Hydrolysis
4.3 Market Share, Application
4.3.1 Food Infant Formula Confectionary Bakery Snacks Dairy Products Meat Analogs & Substitues Others
4.3.2 Beverages
4.3.3 Dietary Supplements
4.3.4 Animal Feed
4.3.5 Others

5. Country Market Share
5.1 North America
5.1.1 U.S.
5.1.2 Canada
5.1.3 Mexico
5.1.4 Others
5.2 Europe
5.2.1 U.K.
5.2.2 Germany
5.2.3 France
5.2.4 Italy
5.2.5 Spain
5.2.6 Netherlands
5.2.7 Russia
5.2.8 Others
5.3 Asia-Pacific
5.3.1 China
5.3.2 India
5.3.3 Japan
5.3.4 South Korea
5.3.5 Australia
5.3.6 Thailand
5.3.7 Israel
5.3.8 Saudi Arabia
5.3.9 Others
5.4 South America
5.4.1 Brazil
5.4.2 Argentina
5.4.3 Colombia
5.4.4 Others
5.5 Africa
5.5.1 South Africa
5.5.2 Egypt
5.5.3 Nigeria
5.5.4 Others

6. Competitive Analysis
6.1 Market Share Analysis
6.2 Growth Strategies of leading players
6.3 Investment and Development Prospects
6.3.1 Investment in past five years
6.3.2 Investment Opportunities
6.4 Competition Pattern
6.4.1 Concentration Ratio
6.4.2 Industry Competition
6.5 Price Trend Analysis
6.5.1 Product Classifications and Their Prices
6.5.2 Factors Influencing Prices

7. Company Profiles
7.1 Burcon Nutrascience Corporation
7.2 Shandong Jianyuan Group
7.3 The Scoular Company
7.4 Axiom Foods
7.5 Farbest Brands
7.6 Fenchem Inc
7.7. Roquette Frerers
7.8 Sotexpro S.A.
7.9 Yantai Oriental Protein Tech Co., Ltd
7.10 Cosucra Groupe Warcoing S.A.
7.11 Hill Pharma Inc
7.12 Ingredion Inc
7.13 Kerry Inc
7.14 Prinova Group LLC
7.15 Puris, LLC
Note: Product cover images may vary from those shown
3 of 4


4 of 4
  • Burcon Nutrascience Corporation
  • Shandong Jianyuan Group
  • The Scoular Company
  • Axiom Foods
  • Farbest Brands
  • Fenchem Inc
  • Roquette Frerers
  • Sotexpro S.A.
  • Yantai Oriental Protein Tech Co., Ltd
  • Cosucra Groupe Warcoing S.A.
  • Hill Pharma Inc
  • Ingredion Inc
  • Kerry Inc
  • Prinova Group LLC
  • Puris, LLC
Note: Product cover images may vary from those shown