Pea Protein Market By Product Type (Isolates, Concentrates, Textured), By Form (Dry, Liquid), By Application (Dietary Supplements, Meat Extenders & Analogs, Bakery Goods, Beverage), By Region And Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, And Forecast 2023-2032
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June 2023
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This report was compiled by Correspondence Linkedin | Detailed Market research Methodology Our methodology involves a mix of primary research, including interviews with leading mental health experts, and secondary research from reputable medical journals and databases. View Detailed Methodology Page
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Report Overview
Pea Protein Market size is expected to be worth around USD 922.7 Mn by 2032 from USD 460 Mn in 2022, growing at a CAGR of 7.4% during the forecast period from 2023 to 2032.
The expanding domain of the pea protein market, nested within the vast expanse of the global plant-based protein market, is unquestionably on a meteoric ascent, propelled by its numerous advantages that surpass those of animal-based protein products. As society progresses along the path of increased health consciousness and environmental awareness, the clamor for natural and plant-derived alternatives to their animal-derived counterparts resounds with unwavering fervor, spawning an unprecedented surge in demand.
Pea protein is the epitome of plant-based prowess, providing an impeccable combination of high-quality protein content and an exhaustive ensemble of the nine essential amino acids, which are unquestionably essential for the proper functionality of the human body. Pea protein is derived from the resplendent yellow peas. In stark contrast to its botanical relatives, pea protein stands tall with its readily assimilable nature and harmonious interplay with the palate, making it an unrivaled ingredient in a variety of gourmet treats and beverages.
The illustrious tapestry of pea protein unfolds with an abundance of superlative qualities, surpassing the staid domain of their archaic animal-based equivalents. Chief among these laudable qualities is its unrivaled potency as a protein source, which is readily assimilable and swiftly absorbed by the corporeal vessel, thereby nourishing the temple of muscles and promoting overall health. Moreover, the ethereal essence of pea protein's appeal resonates with those with dietary restrictions, as it proudly stands as an allergen-free, gluten-free, and non-GMO paragon, a fortress ministering to the dietary needs of the gastronomically constrained.
With the effervescent march of time, the pea protein market has witnessed an aurora of remarkable innovations, ushering in high-concentration pea protein isolates that resonate with their multifarious application across the culinary and beverage landscapes. Moreover, the glorious pantheon of pea protein has seen the emergence of a plethora of novel products, ranging from meat alternatives that tantalize the taste buds with their botanical mimicry to protein powders that fortify the nutritional tapestry of the health-conscious horde, alluringly beckoning the discerning customer in their never-ending search for natural and plant-based alternatives to the antiquated and animal-centric offerings.
The sturdy pillars that support the pea protein market attest to the dawning era of enlightened consumption patterns, as consumers resolutely traverse the virtues of health and sustainability, forging a path to dietary redemption. The consciousness of the calamitous ecological effects of the animal husbandry industry continues to swell, reverberating throughout the corridors of society and propelling the search for greener alternatives. In addition, the overall growth of the plant-based protein market acts as an unstoppable force, akin to an unrelenting storm, providing a prodigious impetus to the ceaseless evolution and unrelenting expansion of the pea protein market, forever altering the gastronomic landscape.
Driving Factors
Increasing Demand for Gluten-Free and Lactose-Free Products
Within the realm of the pea protein market, a pivotal catalyst arises from the escalating desire for products that cater to individuals with gluten intolerance and lactose sensitivity. This surge in demand can be attributed to the growing prevalence of such health conditions, compelling manufacturers to craft gluten-free and lactose-free offerings derived from the bountiful realms of pea protein. Consequently, individuals afflicted by these ailments find solace in the availability of suitable products, thus nurturing the market's growth.
The Ascendancy of Pea Protein in the Sports Nutrition Industry
In an astonishing display of its soaring popularity, pea protein has firmly entrenched itself within the hallowed realms of the sports nutrition industry. The allure lies in its inherent suitability for muscle building and swift muscle recovery. Not only does pea protein boast a low-fat composition, but it also serves as a veritable reservoir of BCAAs (Branched-Chain Amino Acids), which stand as indispensable agents for fostering robust muscle growth. As a result, athletes and fitness enthusiasts alike have gravitated towards pea protein as an indispensable ally in their relentless pursuit of physical prowess.
Regulatory Influences on the Pea Protein Market
The trajectory of the pea protein market is intricately intertwined with the ever-changing landscape of regulations. Pertinent alterations may arise, dictating the usage and production of pea protein products. Consequently, even the slightest modification in legislation can send ripples of significant impact cascading through the market, shaping its course and redefining its boundaries.
Emerging Technologies and Potential Disruptors
The ever-evolving realm of emerging technologies looms on the horizon, holding within its grasp the potential to influence the pea protein market. Notably, microalgae-based biofuels emerge as a compelling contender, with ongoing research investigating their viability as protein sources for both animal feed and human consumption. These revolutionary technologies, should they manifest their full potential, present alternative avenues that may pose a formidable challenge to the market share of pea protein, ushering in an era of disruption and transformation.
The Specter of Competitors and Pea Protein's Market Share
As the competitive landscape unfolds, potential disruptors hover on the periphery, poised to make their mark and shape the trajectory of the pea protein market. Foremost among these contenders are alternative high-quality plant-based proteins that stand as formidable rivals. These contenders, with the allure of potentially lower costs, bear the power to encroach upon the market share currently held by pea protein, presenting a formidable challenge and necessitating adaptation and innovation to retain its foothold in the market.
Restraining Factors
The Availability of Alternative Protein Sources
The availability of alternative protein sources, such as soy and whey protein, poses the greatest challenge to the Pea Protein Market. Soy and whey proteins have well-established markets and are preferred by a large number of consumers due to their greater availability, reduced cost, and familiarity. Due to this, pea protein is in short supply, and food manufacturers must work hard to promote it as a viable alternative.
High Production Costs of Pea Protein
Pea protein is produced through a complicated extraction process, making it more expensive than alternative protein sources. This is one of the main factors restraining market expansion. To make pea protein commercially viable, food manufacturers must invest significantly in the equipment and facilities required to extract and refine pea protein.
The Limited Availability of Raw Materials
Pea protein is primarily derived from yellow peas, but there is a limited supply of this basic material, which further limits market expansion. The majority of yellow pea production is concentrated in specific regions, and severe weather or natural disasters can disrupt the supply chain, resulting in a dearth of raw materials.
The Lack of Consumer Awareness About Pea Protein
The market for pea protein must also overcome a paucity of consumer knowledge regarding the benefits of plant-based protein consumption. To promote the growth of the Pea Protein Market, food manufacturers must educate consumers on the benefits of transitioning to plant-based protein sources, as the majority of consumers still prefer animal-based protein sources.
Type Analysis
The health and wellness industry has been buzzing about pea protein lately and for good reason. Comparatively low in calories compared to other protein sources, it is an exceptional source of protein and essential amino acids. In addition, pea protein is a hypoallergenic, vegan-friendly alternative to whey protein.
Pea Protein Pea protein isolates are the most concentrated form of protein. They are at least 90% protein, with minimal fat and carbohydrate content. Isolates are popular among athletes and bodybuilders due to their high digestibility.
In the coming years, the Isolates segment of the pea protein market is anticipated to expand at the quickest rate. This is as a result of the rising demand for plant-based protein products and the growing popularity of veganism. Isolates are also extensively utilized in the food industry as a protein additive in a variety of products, such as meat substitutes, dairy alternatives, and protein bars.
Additionally, consumers are demanding more sustainable and ethically produced goods. Pea protein meets these criteria, as it is derived from non-GMO yellow peas, a sustainable commodity that is simple to cultivate and harvest. Additionally, pea protein is hypoallergenic, making it an appropriate source of protein for individuals with dairy or soy allergies.
Application Analysis
Pea protein is a versatile constituent that can be incorporated into a variety of products, such as dietary supplements, meat substitutes, and baked goods. In 2021, the dietary supplements segment will hold the largest share of the pea protein market.
Due to its high protein and essential amino acid content, pea protein is frequently used in dietary supplements. Additionally, it is readily digestible, making it a suitable alternative to conventional protein sources like whey and casein.
Due to an increase in consumer awareness of health and wellness, the Dietary Supplements segment is anticipated to grow at a steady rate over the future years. Pea protein supplements are appropriate for vegans and vegetarians and are considered a healthier, more natural alternative to conventional protein supplements.
Pea protein supplements are also viewed as a healthier, more natural alternative to conventional protein supplements, which frequently include additives and preservatives. The segment of dietary supplements is expanding due to the rising demand for natural and organic products.
Key Market Segments
By Product Type
- Isolates
- Concentrates
- Textured
By Form
- Dry
- Liquid
By Application
- Dietary Supplements
- Meat Extenders & Analogs
- Bakery Goods
- Beverage
Growth Opportunity
Growing demand for pea protein in the food and beverage industry
Due to its adaptability and high protein content, Pea Protein has become increasingly popular in the culinary and beverage industry. The food and beverage industry has witnessed a shift toward healthier and more nutrient-dense products, and pea protein is a perfect complement. Protein bars, meat substitutes, and other plant-based products contain pea protein. In the future years, the food and beverage industry is anticipated to increase its demand for pea protein.
Increasing demand for vegan and plant-based protein supplements
In recent years, vegan and plant-based diets have become increasingly popular. The demand for vegan and plant-based protein supplements has increased as a result of this trend. Plant-based Pea Protein is an outstanding protein source for vegans and vegetarians. In addition, the amino acid profile of pea protein is comparable to that of protein derived from animals, making it an appropriate substitute.
Demand for gluten-free and lactose-free products is increasing
In recent years, the demand for gluten-free and lactose-free products has increased, and pea protein meets all the requirements. Pea Protein is inherently gluten-free and lactose-free, making it a great choice for individuals with gluten and lactose intolerance. In addition to being non-GMO and soy-free, pea protein is an ideal choice for individuals with a variety of dietary restrictions.
Advancements in technology for pea protein extraction
The extraction of pea protein has been the primary restraint on the Pea Protein Market's expansion. However, technological advancements have made the extraction process more efficient and economical. There are numerous methods available for extracting pea protein, such as moist and dry fractionation, which result in increased protein yields. This has subsequently contributed to the expansion of the Pea Protein Market.
Increasing demand for natural and organic food products
The trend toward natural and organic food products has been growing, and pea protein fits this trend perfectly. Pea Protein is derived from natural sources and is chemical-free, making it a safe and nutritious source of protein. In addition, pea protein is sustainable and eco-friendly, making it an ideal choice for consumers who are concerned about their environmental impact.
Latest Trends
Increasing investments in pea protein production and R&D
With the increase in demand, investments in pea protein production and research and development initiatives have increased. As consumers become more health-conscious and environmentally conscious, the demand for protein derived from plants increases. Pea protein is one of the most sustainable and eco-friendly protein sources, and manufacturers are investing more in its production as a result. Moreover, as technology advances, the flavor and texture continue to improve, making it a preferable substitute for traditional meat products.
The growing popularity of pea protein in the sports nutrition industry
The sports nutrition industry was one of the earliest adopters of pea protein, and its utilization is continuously increasing. To build muscle, athletes require high-quality protein and pea protein provides all the necessary amino acids for this purpose. In addition, the vegan and allergen-free characteristics make it more accessible to a larger audience. Companies are also investing in research to improve the flavor and texture of sports nutrition products, thereby enhancing their marketability.
Increasing use of pea protein in the animal feed industry
Pea protein is a healthier alternative to conventional animal feed, and its use in the animal feed industry is on the rise. Traditional animal feed relies significantly on soy, which can have negative health effects on animals. Pea protein is a more environmentally friendly and nutrient-dense alternative that enables animals to consume a healthier diet. In addition, it has been demonstrated that animals fed pea protein produce flesh with greater nutritional value.
Rising demand for pea protein in the food service industry
In the food service industry, the demand for plant-based protein options has increased. Due to its sustainability, accessibility, and versatility, pea protein is becoming increasingly popular. Restaurants are beginning to offer plant-based protein options, and pea protein is a popular option. Beyond Meat and Impossible Foods have demonstrated the potential of plant-based proteins, and due to their nutritional value, pea protein is one of the most popular alternatives.
Growing adoption of pea protein by major food manufacturers
The adoption of pea protein by major food manufacturers is expected to increase in the future. This trend is likely to continue, as companies such as Nestle and Unilever have already introduced products containing pea protein. The positive characteristics of pea protein make it an attractive option for the food industry, and as the demand for plant-based proteins grows, its use is likely to increase.
Regional Analysis
The Asia-Pacific region is home to a vast population, including countries with rapid economic development and urbanization, such as China and India. As incomes rise and lifestyles evolve, consumers' awareness of health and wellness is developing. This heightened awareness of nutrition and dietary options has increased demand for plant-based protein sources such as pea protein.
Various factors, including health concerns, environmental awareness, and ethical considerations, have contributed to a significant transition in the region toward plant-based diets. As more individuals acquire or modify their dietary preferences, the demand for pea protein as a sustainable and plant-based source of protein has increased.
In the Asia-Pacific region, the demand for functional foods and beverages that provide health benefits beyond fundamental nutrition has increased significantly. With its high nutritional value and functional properties, pea protein has garnered popularity as an ingredient in a variety of functional food and drink products. This includes dairy alternatives, meat substitutes, snacks, and beverages that pander to the varied tastes and preferences of the region's consumers.
Changes in consumer lifestyles, urbanization, and the expansion of the middle class have all contributed to the Asia-Pacific region's food and beverage industry's rapid expansion. This growth has increased the demand for innovative and nutrient-rich food and beverage products, where pea protein is widely used. The region's food manufacturers and producers have incorporated pea protein into their product offerings in response to this demand.
The Asia-Pacific region has favorable agricultural conditions for growing peas. Increased pea production in nations such as Canada, China, and India ensures a constant supply of raw materials for pea protein production. This availability of peas within the region contributes to the region's dominance of the pea protein market, thereby reducing reliance on imports.
Key Regions and Countries
North America
- US
- Canada
- Mexico
Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Players Analysis
Axiom Foods, one of the leading competitors in the pea protein market, offers a variety of pea protein ingredients to food and beverage manufacturers. Their selection of organic, non-GMO, and allergen-free products makes them a popular choice among health-conscious consumers.
Roquette, a leader in the industry of plant-based nutrition, is an additional important participant. Their pea protein ingredients are utilized in numerous food and beverage products, including flesh alternatives, snacks, and sports nutrition.
Other notable pea protein market participants include Nutri-Pea, AGT Food and Ingredients, and Emsland Group. Together, these businesses are driving innovation in the pea protein industry, advancing the processing technology for pea proteins, and expanding their product offerings to satisfy the demand for plant-based protein sources.
Top Key Players in Pea Protein Market
- Burcon NutraScience Corporation
- Cosucra Groupe Warcoing SA
- Nutri-Pea Limited
- Roquette Frères
- Axiom Foods Inc.
- Glanbia Nutritionals Inc.
- A & B Ingredients Inc.
- Agridient BV
- Fenchem Inc.
Recent Development
- In September 2021, Roquette will declare the opening of its new pea protein production facility in Canada. This new facility will expand the company's capacity to satisfy the growing demand from North American and international customers. This represents a significant stride toward more environmentally friendly protein production, given Roquette's dedication to sustainable and responsible production.
- In August of 2021, Axiom Foods also made an impact on the Pea Protein Market with the introduction of a novel pea protein isolate. This new isolate is formulated to provide superior flavor, solubility, and, most importantly, texture. With the expertise of Axiom Foods in plant-based proteins, this new product is certain to be an excellent alternative to conventional protein sources.
- In June 2021, DuPont Nutrition & Biosciences launched a novel pea protein nugget for plant-based meat alternatives. This innovative product provides a novel sensory experience and enhances the texture of meat substitutes, allowing for a more authentic dining experience. This innovation could help bridge the divide between traditional and plant-based proteins as the popularity of plant-based meat alternatives increases.
- In March 2021, Ingredion introduced a new pea protein concentrate for use in culinary and beverage products. This concentrate has superior solubility and dispersibility, making it simple to incorporate into a wide variety of food and beverage products. With its neutral flavor profile and clear label credentials, Ingredion's concentrate will likely be incorporated into a large number of new products in the coming months.
- In January 2021, Kerry Group announced the acquisition of Pevesa Biotech, a Spanish manufacturer of pea protein. This acquisition provides Kerry Group with increased pea protein production capacity and capabilities, establishing them as a market leader. As the global demand for plant-based proteins continues to increase, this acquisition is anticipated to further accelerate Kerry's expansion in this market.
Report Scope
Report Features Description Market Value (2022) USD 460 Mn Forecast Revenue (2032) USD 922.7 Mn CAGR (2023-2032) 7.4% Base Year for Estimation 2022 Historic Period 2016-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered Product Type (Isolates, Concentrates, Textured)
Form (Dry, Liquid)
Application (Dietary Supplements, Meat Extenders & Analogs, Bakery Goods, Beverage)Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; the Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape Burcon NutraScience Corporation, Cosucra Groupe Warcoing SA, Nutri-Pea Limited, Roquette Frères, Axiom Foods Inc., Glanbia Nutritionals Inc., A & B Ingredients Inc., Agridient BV, Fenchem Inc. Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) -
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- Burcon NutraScience Corporation
- Cosucra Groupe Warcoing SA
- Nutri-Pea Limited
- Roquette Frères
- Axiom Foods Inc.
- Glanbia Nutritionals Inc.
- A & B Ingredients Inc.
- Agridient BV
- Fenchem Inc.