Organic Pea Protein Market - Global Industry Analysis (2019 - 2021) - Growth Trends and Market Forecast (2022 - 2029)

Poised for around 2.9x expansion in revenue between 2022 and 2029, global organic pea protein market awaits excellent growth prospects in the next few years. In a newly released study, the publisher offers deep-dive insights into how the market has been developing and what would be the future prospects during 2022 - 2029. Registering the revenue worth US$17.8 Bn in 2021, organic pea protein market is likely to reach nearly US$52.2 Bn by 2029 end. The study anticipates the market to see 14.5% growth over this period and attributes the same to a visible industry shift toward vegan, plant-based, organic, and healthy. The report however also marks the fact that there has been a measurably large consumer population that remains reluctant about the choice of pea or other plant-based protein alternatives over the conventional animal sources. Besides the health profile, texture, taste, and costs are projected to prolong this reluctance among prospective consumers, which would largely influence the growth of organic pea protein market through the end of forecast period.

Key Research Insights

• Beverage manufacturers continue to record more than half the total consumption of organic pea protein
• Protein isolates continue to be preferred over textures, and concentrates
• Europe currently accounts for over 1/4th share in market value and will maintain the lead throughout the period of projection
• Some of the leading brands in the market include Ingredion Incorporated, Axiom Foods, Inc, and Glabia plc
• Major players are likely to emphasize improved applicability through innovation

Beverages Register over 50% of Global Organic Pea Protein Consumption

Recording more than 64% share in market value, protein isolates continue to hold their dominance in global organic pea protein market. Higher consumer preference is expected to keep demand for isolates buoyant, followed by textures, and later concentrates. Moreover, adoption remain the highest across beverages category. In addition to growing demand for organic pea protein as a supplement ingredient for smoothies, shakes, the hypoallergenic and vegan nature of the protein has been gaining traction across health drinks, and energy products as well. Beverage manufacturing brands are thus likely to maintain a share of more than 50% in the global organic pea protein market. The meat extender and analogue segment follows as the next important application area, says the report.

Europe Remains in the Bandwagon with Approximately 25% Market Share

While the report expects organic pea protein market participants to discover the most rewarding opportunities in Asia Pacific, majorly on the back of the thriving nutraceuticals market, the developed western markets continue to be the epicentre of growth in long term. Asia Pacific currently represents a roughly US$5 Bn market and is expected to benefit from an evolving consumer lifestyle that more favours health F&B categories. On the other hand, Europe remains in the bandwagon with around one-fourth of the overall market valuation. North America also is an important market for the stakeholders, and investors in organic pea protein market space. The markets here will continue to thrive on account of the most favourable growth environment they offer to the most trending F&B categories, i.e., gluten-free, healthy, organic, and vegan. The role of retail will continue to be instrumental for organic pea protein market in Europe, and North America, says the report.

Key Market Players

Axiom Foods, Inc., Scoular Company, Ingredion Incorporated, Roquette Frères, Puris, Emsland Group, DuPont, A&B Ingredients, Glanbia plc, FENCHEM.