Pea Protein Ingredients Global Market Report 2024

Pea protein ingredients are utilized in the preparation of smoothies and shakes to enhance their protein content. Derived and extracted from yellow and green split peas, Pisum sativum, these ingredients include pea protein flour, isolate, and concentrate. Pea protein ingredients serve as alternatives to animal and soy-based proteins.

The main types of pea protein ingredients are isolates and concentrates. Pea protein isolates are highly processed products with concentrated protein content and lower levels of carbohydrates and fats. Various sources, including yellow split peas, chickpeas, and lentils, contribute to the production of these ingredients. The applications of pea protein ingredients extend to bakery and snacks, dietary supplements, beverages, meat substitutes, and other food products.

The pea protein ingredients market research report is one of a series of new reports that provides pea protein ingredients market statistics, including pea protein ingredients industry global market size, regional shares, competitors with a pea protein ingredients market share, detailed pea protein ingredients market segments, market trends and opportunities, and any further data you may need to thrive in the pea protein ingredients industry. This pea protein ingredients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The pea protein ingredients market size has grown strongly in recent years. It will grow from $1.83 billion in 2023 to $1.96 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The expansion observed in the historical period can be attributed to several factors, including the growing preference for plant-based protein sources, increased demand for meat alternatives, rising demand for protein-rich foods, heightened health consciousness among consumers, and a growing market for functional foods.

The pea protein ingredients market size is expected to see strong growth in the next few years. It will grow to $2.67 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth in the forecast period can be attributed to various factors, including the rising vegan and vegetarian populations, the allergen-free and gluten-free appeal of pea protein, increasing demand for vegan and vegetarian food products, greater adoption in emerging markets, and an increased focus on sustainable sourcing. Major trends expected in the forecast period encompass innovation in product development, the growth of plant-based meat alternatives, the development of customized protein blends, a focus on clean-label packaging and marketing, and increased demand for pea protein in sports nutrition and supplements.

The pea protein ingredient market is anticipated to experience growth, driven by the increasing popularity of vegetarian and vegan diets. Vegetarian and vegan diets exclude animal-based foods, and the demand for plant-derived protein sources like pea protein is rising among consumers adhering to these dietary preferences. A report by The Plant-Based Foods Association revealed that plant-based foods achieved $8 billion in U.S. retail sales in 2022, indicating a notable increase of approximately 6.67% from $7.5 billion in 2021. This surge in demand underscores the growing preference for vegetarian and vegan diets, acting as a catalyst for the growth of the pea protein ingredient market.

The pea protein ingredient market is expected to benefit from the growing trend of health consciousness. With an increasing awareness and emphasis on personal health and well-being, consumers are seeking protein alternatives that offer lower allergenicity, better digestibility, and fewer potential health risks. A survey by the International Food Information Council (IFIC) in May 2022 found that 52% of Americans followed a specific diet or eating pattern, marking a significant increase from the previous year (39% in 2021). Diets such as clean eating, mindful eating, calorie counting, and plant-based eating gained popularity, especially among those under the age of 50. This heightened health consciousness is expected to drive the growth of the pea protein ingredient market.

Major companies in the market are actively developing textured vegetable protein products like Vertis. Vertis, an innovative textured pea canola protein product, serves as a comprehensive plant-based protein source with unique textural properties, making it ideal for meat alternatives and various plant-based applications. DSM, a Netherlands-based company specializing in nutrition, health, and sustainable living, launched Vertis Textured Pea Canola Protein in 2022. Noteworthy for being the world's first textured vegetable protein offering all nine essential amino acids, it establishes itself as a complete protein source. This versatile solution is soy-free, gluten-free, and dairy-free, catering to diverse dietary preferences. It provides distinct textural benefits, including rapid hydration, excellent processing capabilities, and support for low-fat and low-salt formulations, resulting in a resilient texture reminiscent of traditional meat products.

In November 2021, in a strategic move to bolster its position in the alternative protein sector, Koninklijke DSM N.V., a Netherlands-based health and nutrition company, acquired Vestkorn A/S for $73.7 million. Vestkorn A/S, a Denmark-based food manufacturer specializing in pea protein products, aligns with DSM's objective to strengthen its presence in the alternative protein market.

Major companies operating in the pea protein ingredients market include Cargill Incorporated, Agridient Inc., Axiom Foods Ltd., Norben Company Inc., Nutri Pea Ltd., Burcon NutraScience Corporation, Cosucra Groupe Warcoing SA, A & B Ingredients Inc., Shandong Jianyuan Foods Co. Ltd., Archer Daniels Midland Company, Fenchem SA, Kerry Group PLC, Prinova Group LLC, Batory Foods Inc., PLT Health Solutions, Glanbia PLC, AGT Food & Ingredients Inc., World Food Processing LLC, Yantai T. Full Biotech Co. Ltd., Suzhou Wanshen Flour Products Co. Ltd., Ingredion Incorporated, Cambridge Commodities Inc., Consucra-Groupe Warcoing SA, Roquette Freres Le Romarin SA, Green Labs LLC, GEMEF Industries, Puris Proteins LLC., Tate & Lyle Inc., Emsland-Starke Gmbh, DuPont de Nemours Inc.

North America was the largest region in the pea protein ingredients market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pea protein ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the pea protein ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The pea protein ingredients market consists of sales of pea flour, pea protein concentrate, pea protein isolate, sauces, cereals, baking mixes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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