Pea Protein Market Size, Share, Trends and Growth Report – Global Opportunities & Forecast, 2023-2030
Pea Protein Market generated a revenue of USD 973.9 Million in 2022 and is predicted to reach USD 2,739.9 Million in 2030 and is forecast to grow at a 13.8% CAGR during the forecast period, due to the growing health awareness regarding the consumption of healthy diet.
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Key Drivers
The increasing demand for pea protein due to the growing consumer awareness related to healthy diet pattern and active lifestyle is contributing to the growth of the pea protein market. The pea protein is derived from plant-based sources and is perfect for vegetarian individuals. They are non-toxic, non-allergic, and easily digestible with applications in beverages, dietary supplements, bakery products, and meat substitutes. Moreover, the increasing importance of a flexitarian diet due to the rising concerns related to cardiological impacts regarding the red meat consumption is further surging the demand of the market. There has been an increase in the consumption of protein-fortified functional food products, which is further responsible for the pea protein market growth. In addition to this, the rising awareness related to protein powder consumption for supporting bone health and muscle growth is further driving the market growth.
Emerging trend of vegan- and vegetarianism is one of the major factors fueling the market growth. Increasing consumption of red meat might result in various heart-related diseases, which has encouraged consumers to consume non-meat protein options, fueling the demand for pea-based sources of protein. Furthermore, the growing lactose intolerant population has made pea-based property a suitable option owing to its gluten- and dairy-free options, fueling the market growth. However, the threat of substitutes of pea protein such as hemp, soy, and whey, is hampering the growth of the global pea protein market share. Rice protein is another ingredient that is gaining popularity in the market and is increasingly used as a substitute of pea protein.
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Type – Segment Analysis
Isolates is anticipated to grow at a higher CAGR during the forecast period. This is mainly due to increasing applications which include performance nutrition products, confectioneries, cereals, plant-based meat, and plant-based dairy products. The pea protein isolates are an alternative for vegetarians, vegans, and lactose-intolerants. They are easily absorbed by the body and are highly digestible. This isolate is rich in leucine, glutamine, and arginine, and all the other brand chains and essential amino acids. Growth in the sports nutrition industry in the developed countries, including the U.S., Germany, and the U.K., due to the continuous product development by Cadbury and Amway has strengthened the market growth.
Concentrate protein is estimated to hold a larger share over the forthcoming years. Increasing application in dietary supplement and weight control products due to their improved emulsification and high digestibility, have bolstered the market growth.
Application – Segment Analysis
Meat substitutes is expected to dominate the market during the forecast period. There has been an increase in the use of pea proteins in the meat substitutes sector owing to their functional features. It is used for the production of meat substitute products such as burger patties and minced meat, which is further surging the market growth over the coming years. Increasing inclination towards vegan dietary habits due to the rising cases of obesity and diabetes will further add to the market growth.
Form – Segment Analysis
Dry is projected to dominate the market during the forecast period. The pea flour extracted during the process in the form of power is dry pea protein. The increasing awareness related to benefits such as high sustainability as compared to conventional protein sources and offers improved functionality is driving the segment growth.
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Regional – Segment Analysis
Europe is projected to grow at a higher CAGR during the forecast period. The large-scale production and the growing consumption of plant-based products are the key drivers that are surging the regional market growth. Various players, including Emsland Group, Cosucra Group, among others, have a presence in this region and are emphasizing on meeting the growing demand for pea protein among the consumers. Additionally, the growing awareness related to the advantages among the individuals has led to surged inclination of manufacturers to comply with standards introduced by the EU regarding non-GMO products. This is further supporting the market growth.
North America is predicted to witness a faster CAGR over the upcoming years, due to the rising incidences of cardiovascular diseases (CVDs) caused by red meat consumption. Increasing demand for gluten-free products, growing consumption of snacks, cold cereals, and energy bars, and the expansion of sports nutrition industry in North America are expected to drive the market growth. Ongoing product development by leading players including Cargill and Mead Johnson focus to fulfil the demand for low saturated fat and cholesterol-free beverages, thus propelling the regional growth.
Top Market Players
Some of the leading players operating in the market include Roquette Frères, Ingredion, PURIS, Emsland Group, FENCHEM, DuPont, A&B Ingredients, Glanbia PLC, The Scoular Company, and Axiom Foods, among others.
Key Developments:
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- In 2019, Emsland Group introduced the two pea protein ingredients to meet the food applications including beverages, ice cream, desserts, among others. They are designed to be integrated into functional foods and healthy food products.
- In 2019, Roquette Frères entered into a partnership with Beyond Meat to supply its pea protein for Beyond Meat’s line of plant-based meat products. Through this partnership, the company aimed to increase the supply amount of pea proteins to the partner company.
Segments Covered in the Report:
The global Pea Protein market has been segmented on the basis of Type, Form, Application, Source and regions. Based on Type, the market is segmented into Isolates, Concentrates, and Textured. Based on Form, the market is segmented into Dry textured pea protein and Wet textured pea protein. Based on Application, the market is segmented into Meat Substitutes, Performance Nutrition, Functional Foods, Snacks, Beverages, Bakery Products, and Confectionery. Based on Source the market is segmented into Yellow Split Peas, Chickpeas, and Lentils.
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Key questions answered in this research report:
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- At what pace is global Pea Protein market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in Pea Protein market? What will be the impact of drivers and restraints in the future?
- What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Pea Protein market?
- Which Type generated maximum revenues in 2019 and identify the most promising Type during the forecast period?
- What are the various Form areas of global Pea Protein market and how they are poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
Report Coverage |
Details |
Market Revenues (2022) |
USD 973.9 Million |
Market Base Year |
2022 |
Market Forecast Period |
2023-2030 |
Base Year & Forecast Units |
Revenues (USD Million) |
Market Segment | By Type, By Form, By Application, By Source, By Region |
Regional Coverage | Asia Pacific, Europe, North America, and RoW |
Companies Profiled | Roquette Frères, Ingredion, PURIS, Emsland Group, FENCHEM, DuPont, A&B Ingredients, Glanbia PLC, The Scoular Company, and Axiom Foods, among others; a total of 10 companies covered. |
25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global Pea Protein Market by Type
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- Isolates
- Concentrates
- Textured
Global Pea Protein Market by Form
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- Dry textured pea protein
- Wet textured pea protein
Global Pea Protein Market by Application
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- Meat Substitutes
- Performance Nutrition
- Functional Foods
- Snacks
- Beverages
- Bakery Products
- Confectionery
Global Pea Protein Market by Source
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- Yellow Split Peas
- Chickpeas
Global Pea Protein Market by Region
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North America Pea Protein Market (Option 1: As a part of the free 25% customization)
- By Type
- By Form
- By Application
- By Source
- US Market All-Up
- Canada Market All-Up
-
Europe Pea Protein Market (Option 2: As a part of the free 25% customization)
- By Type
- By Form
- By Application
- By Source
- UK Market All-Up
- Germany Market All-Up
- France Market All-Up
- Spain Market All-Up
- Rest of Europe Market All-Up
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Asia-Pacific Pea Protein Market (Option 3: As a part of the free 25% customization)
- By Type
- By Form
- By Application
- By Source
- China Market All-Up
- India Market All-Up
- Japan Market All-Up
- Rest of APAC Market All-Up
-
RoW Pea Protein Market (Option 4: As a part of the free 25% customization)
- By Type
- By Form
- By Application
- By Source
- Brazil Market All-Up
- South Africa Market All-Up
- Saudi Arabia Market All-Up
- UAE Market All-Up
- Rest of world (remaining countries of the LAMEA region) Market All-Up
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Major Players Operating in the Pea Protein (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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- Roquette Frères
- Ingredion
- Roquette Frères
- Ingredion
- PURIS
- Emsland Group
- FENCHEM
- DuPont
- A&B Ingredients
- Glanbia PLC
- The Scoular Company
- Axiom Foods
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Frequently Asked Question About This Report
Pea Protein Market [UP43A-00-1119]
The meat substitutes are expected to dominate the market during the forecast period. There has been an increase in the use of pea proteins in the meat substitutes sector owing to their functional features.
The increasing demand for pea protein due to the growing consumer awareness related to healthy diet pattern and active lifestyle is contributing to the growth of the pea protein market size.
Pea Protein Market is estimated to grow at a 13.8% CAGR during the forecast period.
The isolates are anticipated to grow at a higher CAGR during the forecast period. This is mainly due to increasing application such as in performance nutrition products, confectioneries, cereals, plant-based meat, and plant-based dairy products.
- Published Date: Jul - 2022
- Report Format: Excel/PPT
- Report Code: UP43A-00-1119
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Report is shared with unlimited user (employees) of the purchasing corporation only
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Multi-User License:Report is shared with maximum 5 users (employees) including the purchaser of the purchasing corporation only
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Report is shared with unlimited user (employees) of the purchasing corporation only
Pea Protein Market Size, Share, Trends and Growth Report – Global Opportunities & Forecast, 2023-2030
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