The global pea protein market size was valued at $94.6 million in 2022, and is projected to reach $227.1 million by 2032, registering a CAGR of 9.2%.
Pea protein is a lactose- plant protein produced from yellow field peas. Pea protein isolate, pea protein concentrate, and textured pea protein are the types of protein available in the market. Pea protein is a crucial alternative protein source for both vegetarians and lactose intolerant people.. Pea protein products are used in place of alternative sources of protein such as soy, almonds, and peanuts, that are prone to cause allergic reactions in a selected group of audience. Pea protein offers a high protein concentration and necessary amino acids, resulting in a number of favourable health benefits, including enhanced circulation and absorption of calcium, muscle conservation, increased metabolism, and managing blood sugar levels.
People's eating habits have shifted as their health knowledge has increased. Consumers are looking for products that are safe for digestion, eco-friendly, and healthy and help to reduce ailments such as sickness, water loss, gas, cramps, a lack of appetite, exhaustion, and headache, and pea protein suits their requirements as it is the suitable source of protein without any side effects. People who are intolerant or too allergic to gluten or dairy finds pea protein as a suitable source of nutrition. Furthermore, unlike other protein powders such as soy, eggs, whey, or casein, it is easily absorbed and does not cause bloating. Pea protein's strong nutritional composition makes it ideal for senior, vegetarian, and without lactose diets, and child nutrition, driving up demand. As a consequence, all of these factors contribute to market growth.
The global consumers majorly relies on animal-derived protein sources such as flesh, cheese, dairy products, and poultry to fulfill their daily protein requirements. Animal-derived proteins consists of more protein than plant-based proteins and contribute to serious health problems such as coronary artery disease, overweight or obese people, diabetes, and others. The pea protein industry has expanded over the past decade as a growing consumer health consciousness, health advantages attributed to pea intake of protein, and a growing demand for plant-based protein alternatives. According to an International Food Information Council (IFIC) study/survey, in 2022, 28% of the US community recognized the nutritive relevance of plant proteins, and 69% thought plant proteins aided their nutritious gains.
Furthermore, the affordable nature of proteins made from plants in compared to other types of protein, as well as their various health benefits, have increased the demand from customers in recent years, boosting market growth. Future trends towards a high-protein diet, increased health awareness, growth in the economy, urbanisation, and a sizeable vegan population all indicate to an increase in the utilisation of plant-based proteins in food products. To accommodate changing customer tastes, the food industry is continuously exploring for less costly and healthier protein components to replace those derived from animals, such as whey protein, casein, gelatin, which is and ovalbumin- and gluten-based proteins. Pea protein is a feasible food industry choice due to its neutral flavour and usual amino acid makeup Furthermore, the remarkable emulsification qualities of pea protein, which combine both water and fat for a stable emulsion, it is used as a texturizing component in meat products. In recent years, food manufacturers are using pea protein in food items to increase its nutritional content, breakfast cereals, nutritional supplements, baked savories, protein powder, ready-to-drink meal replacement beverages, and plant-based meat are the types of food products where pea protein isolates are used. The growing expansion of the F&B industry, and introduction of innovations in protein-based solutions in developed marketplaces, have propelled demand of the market globally.
The pea protein market is segmented on the basis of type, form, application, and region. By type, it is classified into pea protein isolate, pea protein concentrate, and textured pea protein. Depending on form, it is categorized as dry and liquid. By application, it is segmented into dietary supplement, bakery & confectionery goods, meat products & alternative, beverages, and others. By region, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
Some of the major players analyzed in this report are A&B Ingredients, Roquette Freres Le Romarin, Burcon Nutrascience Corporation, Cosucra Groupe Warcoing SA, Glanbia, Plc., Green Labs, LLC, GEMEF Industries, Axiom Foods, Inc., Puris, and Yantai Shuangta Food Co., Ltd.
Pea protein is a lactose- plant protein produced from yellow field peas. Pea protein isolate, pea protein concentrate, and textured pea protein are the types of protein available in the market. Pea protein is a crucial alternative protein source for both vegetarians and lactose intolerant people.. Pea protein products are used in place of alternative sources of protein such as soy, almonds, and peanuts, that are prone to cause allergic reactions in a selected group of audience. Pea protein offers a high protein concentration and necessary amino acids, resulting in a number of favourable health benefits, including enhanced circulation and absorption of calcium, muscle conservation, increased metabolism, and managing blood sugar levels.
People's eating habits have shifted as their health knowledge has increased. Consumers are looking for products that are safe for digestion, eco-friendly, and healthy and help to reduce ailments such as sickness, water loss, gas, cramps, a lack of appetite, exhaustion, and headache, and pea protein suits their requirements as it is the suitable source of protein without any side effects. People who are intolerant or too allergic to gluten or dairy finds pea protein as a suitable source of nutrition. Furthermore, unlike other protein powders such as soy, eggs, whey, or casein, it is easily absorbed and does not cause bloating. Pea protein's strong nutritional composition makes it ideal for senior, vegetarian, and without lactose diets, and child nutrition, driving up demand. As a consequence, all of these factors contribute to market growth.
The global consumers majorly relies on animal-derived protein sources such as flesh, cheese, dairy products, and poultry to fulfill their daily protein requirements. Animal-derived proteins consists of more protein than plant-based proteins and contribute to serious health problems such as coronary artery disease, overweight or obese people, diabetes, and others. The pea protein industry has expanded over the past decade as a growing consumer health consciousness, health advantages attributed to pea intake of protein, and a growing demand for plant-based protein alternatives. According to an International Food Information Council (IFIC) study/survey, in 2022, 28% of the US community recognized the nutritive relevance of plant proteins, and 69% thought plant proteins aided their nutritious gains.
Furthermore, the affordable nature of proteins made from plants in compared to other types of protein, as well as their various health benefits, have increased the demand from customers in recent years, boosting market growth. Future trends towards a high-protein diet, increased health awareness, growth in the economy, urbanisation, and a sizeable vegan population all indicate to an increase in the utilisation of plant-based proteins in food products. To accommodate changing customer tastes, the food industry is continuously exploring for less costly and healthier protein components to replace those derived from animals, such as whey protein, casein, gelatin, which is and ovalbumin- and gluten-based proteins. Pea protein is a feasible food industry choice due to its neutral flavour and usual amino acid makeup Furthermore, the remarkable emulsification qualities of pea protein, which combine both water and fat for a stable emulsion, it is used as a texturizing component in meat products. In recent years, food manufacturers are using pea protein in food items to increase its nutritional content, breakfast cereals, nutritional supplements, baked savories, protein powder, ready-to-drink meal replacement beverages, and plant-based meat are the types of food products where pea protein isolates are used. The growing expansion of the F&B industry, and introduction of innovations in protein-based solutions in developed marketplaces, have propelled demand of the market globally.
The pea protein market is segmented on the basis of type, form, application, and region. By type, it is classified into pea protein isolate, pea protein concentrate, and textured pea protein. Depending on form, it is categorized as dry and liquid. By application, it is segmented into dietary supplement, bakery & confectionery goods, meat products & alternative, beverages, and others. By region, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
Some of the major players analyzed in this report are A&B Ingredients, Roquette Freres Le Romarin, Burcon Nutrascience Corporation, Cosucra Groupe Warcoing SA, Glanbia, Plc., Green Labs, LLC, GEMEF Industries, Axiom Foods, Inc., Puris, and Yantai Shuangta Food Co., Ltd.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pea protein market analysis from 2022 to 2032 to identify the prevailing pea protein market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the pea protein market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global pea protein market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly update (only available with the purchase of an enterprise license)
- 5 additional company profiles of your choice, pre- or post-purchase, as a free update.
- Free updated version (once released) with the purchase of a 1-5 or enterprise user license.
- 16 analyst hours of support (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% free customization (in case the scope or segment of the report does not match your requirements, 20% is equivalent to 3 working days of free work, applicable once)
- Free data pack (Excel version) with the purchase of a 1-5 or enterprise user license.
- Free report update, if the report is 6-12 months old or older.
- 24-hour priority response
- Free industry updates and white papers.
Key Market Segments
By Application
- Dietary supplement
- Bakery and confectionery good
- Meat products and alternative
- Beverage
- Others
By Type
- Pea protein isolate
- Pea protein concentrate
- Textured pea protein
By Form
- Dry
- Liquid
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Switzerland
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- UAE
- Rest of LAMEA
Key Market Players
- Burcon Nutrascience Corporation.
- Puris
- Yantai Shuangta Food Co., Ltd.
- Cosucra
- Roquette Freres S.A.
- Glanbia PLC
- Axiom Foods, Inc.
- The Green Labs, LLC.
- GEMEF Industries
- A&B Ingredients, Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: PEA PROTEIN MARKET, BY APPLICATION
CHAPTER 5: PEA PROTEIN MARKET, BY TYPE
CHAPTER 6: PEA PROTEIN MARKET, BY FORM
CHAPTER 7: PEA PROTEIN MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the pea protein market was valued at $94.60 million in 2022, and is estimated to reach $227.1 million by 2032, growing at a CAGR of 9.2% from 2023 to 2032.Pea protein comes from from green and yellow peas and is used to make protein powders and nutritious meals. Pea protein includes all of the necessary amino acids for proper physiological function. It aids in weight control, circulatory health and intake of calcium, muscular maintenance, metabolic enhancement, and blood sugar regulation. The protein found in peas contains lactose-free and suitable for persons who are intolerant or sensitive to dairy or eggs. As a consequence, vegetarians and vegans prefer pea protein powder to dairy protein supplements such as casein, whey proteins, eggs, or meat.
The global pea protein market is strongly driven by growth in demand for plant-based proteins from vegan population. Rise in health consciousness, soaring multiple health benefits, and increase in demand for meat protein alternatives have increased the demand for pea protein among consumers. In addition, due to diversity in countries, meat protein is not acceptable by all the customers, and they have been looking for healthy and sustainable meat protein alternatives. In that case, pea protein becomes the best replacement for them as it is natural, easily available, and affordable source of protein, thereby driving the pea protein market.
The use of pea protein as an alternative for other protein & non-protein ingredients in numerous applications, such as dietary & nutritional supplements, meat alternatives & extenders, snacks, beverages, and other bakery & confectionery goods by food industries, drives the global sales of pea protein. Other factors, such as increase in living standards, surge in demand for healthy & nutritional products, growth in economy, and rise in urbanization, are indirectly influencing the growth of the global pea protein market in a positive way. However, low consumer awareness about the pea protein-based products and market penetration of animal protein and other plant-based proteins, such as soy, rice, and wheat, hampers the growth of this market to some extent. Formulation challenges in pea protein products is further a major factor hindering the growth of the pea protein market. Pea protein is a great source of iron and lysine, which help support muscle growth and a healthy immune system. Further, it contains amino acids essential for healthy body function, and it is easily digestible. Most of the pet/domesticated animal owners ensure that their pets are fed on nutritious feed to avoid diseases and prevent nutrition deficiency. Inclusion of pea proteins as an alternative protein source for pet foods has been an area of focus for most of the pet feed manufacturers, which is expected to provide ample of opportunities for the pea protein industry.
The use of plant proteins in food products is expected to increase substantially in the future, due to increase in awareness toward protein-rich diet, rise in health consciousness, growth in economy, rapid urbanization, and presence of large base of vegan population. To cater to the emerging consumer trends, the food industry is continually seeking for cheaper and healthier protein ingredients to replace those derived from animal sources such as whey, casein, gelatin, and ovalbumin- & gluten-based proteins. Pea protein has a neutral taste and possesses a typical amino acid profile, making it a feasible choice for the food industry.
Although pea protein is a rich source of numerous nutrients such as proteins, minerals, vitamins, it still lacks few nutrients and thus cannot replace protein sources such as whey, soy, casein, and others. Moreover, animal-based proteins dominate the protein ingredients industry, thus restraining the growth of the pea protein market. Animal-based proteins are the superior source of protein as they contain all the essential amino acids required for healthy body functioning as compared to plant-based proteins. Furthermore, new technologies and advancements in food industries have enabled the manufacturers to introduce wide range of superior animal-based protein products that are dominating protein ingredients market, thus restraining pea protein market growth. After animal-based protein, consumer prefer other plant-based proteins such as soy and rice; thus, inclination of consumer toward pea protein is low affecting the growth of market. The pea protein industry is still at its nascent stage, and is expected to take longer to retain its place among wide assortment of other proteins. In addition, strong marketing & positioning strategies adopted by leading companies are anticipated to create barriers for pea protein manufacturers to sustain the competition, thereby restraining the growth of the market.
Pea protein has been more popular around the globe due to its versatility as a functional food ingredient and protein supplement. Pea protein was developed in response to the constantly evolving and growing demand for wholesome, delicious food. Pea protein is now widely used as a notable protein substitute in industrialized nations of North America and Europe. The market for pea protein is expanding in the Asia-Pacific and LAMEA regions due to other factors such as rise in disposable income, a steady expansion in the food & beverages sectors, increase in demand for organic foods, and advancements in protein-based products.
The pea protein market is segmented on the basis of type, form, application, and region. By type, it is classified into pea protein isolate, pea protein concentrate, and textured pea protein. Depending on form, it is categorized as dry and liquid. By application, it is segmented into dietary supplement, bakery & confectionery goods, meat products & alternative, beverages, and others. By region, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
Some of the major players analyzed in this report are A&B Ingredients, Roquette Freres Le Romarin, Burcon Nutrascience Corporation, Cosucra Groupe Warcoing SA, Glanbia, Plc., Green Labs, LLC, GEMEF Industries, Axiom Foods, Inc., Puris, and Yantai Shuangta Food Co., Ltd.
Key Findings of the Study
By type, the pea protein isolate segment is estimated to witness significant growth, registering a CAGR of 9.0% during the forecast period.By form, the dry segment is anticipated to grow at a CAGR of 9.1% during the forecast period.
By application, the dietary supplement segment is estimated to witness significant growth, registering a CAGR of 9.3% during the forecast period.
By region, North America was the dominant region in 2022, occupying a major share of the market.
Companies Mentioned
- Burcon Nutrascience Corporation.
- Puris
- Yantai Shuangta Food Co., Ltd.
- Cosucra
- Roquette Freres S.A.
- Glanbia PLC
- Axiom Foods, Inc.
- The Green Labs, LLC.
- GEMEF Industries
- A&B Ingredients, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
