Global Pea Protein Market Assessment, By Product [Isolates, Concentrates, Textured], By Category [Conventional, Organic], By Application [Convenience Foods, Bakeries and Confectionary, Sports and Energy Supplements, Infant Food, Animal Feed, Other], By End-user [Adults, Infants and Toddlers], By Distribution Channel [Online, Offline], By Region, Opportunities and Forecast, 2017-2031F

Pea Protein Market is projected to witness a CAGR of 11.50% during the forecast period 2024-2031, growing from USD 1.82 billion in 2023 to USD 4.35 billion in 2031.

Pea Protein Market Size, Share, and Forecast 2031

Global pea protein market&nbsp;is projected to witness a&nbsp;CAGR of 11.50%&nbsp;during the forecast period 2024-2031, growing from&nbsp;USD 1.82 billion&nbsp;in 2023 to&nbsp;USD 4.35 billion&nbsp;in 2031.
The rising demand for functional foods, increasing vegan population, growing popularity of plant-based proteins, increasing awareness of the health benefits associated with the consumption of pea protein among the consumers and consumers&rsquo; preferences for dairy and meat alternatives are driving the growth of the market. Rising health consciousness among consumers, providing benefits such as weight management, muscle building, and satiety support is augmenting the growth. It is because pea protein contains a balanced profile of amino acids, which includes vital amino acids, including branched-chain amino acids and lysine which are essential for the repair and growth of the muscles. The flourishing trends of health and well-being, aligning with consumers preference for nutrition and functional food options are supporting the growth.
Pea protein is widely used as an alternative to animal-based proteins such as milk proteins, meat protein, etc, catering to the flourishing demand for vegetarian, vegan, and allergen friendly options. The allergen free properties of pea protein over other proteins, such as dairy and soy, make it a preferred and suitable option for consumers who have restricted diet preferences such as lactose intolerant consumers. As consumers are increasingly preferring meat and non-vegetarian substitutes, key players are innovating their pea protein offerings to cater the dynamic needs of the consumers. For instance, in February 2023, Beneo GmBH, announced the launch of chicken chunks which are 100% plant-based, made using pea protein and myco-protein. These vegan chicken chunks are ready-to-use and offer a realistic fibrous chicken-like structure, with an irregular shape and juicy mouthfeel.
Additionally, pea protein, being a plant protein, appeals to eco-conscious consumers as well due to minimized greenhouse gas emissions and minimal resource requirements during production. Its lower environmental footprint further caters to consumers&rsquo; objectives of sustainable food options.
<h2 style="text-align: justify;">Organic Pea Protein to Dominate the Market</h2>
Organic pea protein is dominating the market, over the conventional pea protein due to several reasons. One of the major reasons for the dominance is organic pea protein is perceived by the consumers to be a healthier and sustainable option as the organic pea protein is derived from organic peas which are mostly grown without the usage of herbicides, synthetic pesticides, and genetically modified organisms (GMOs), which appeals to the health-conscious consumers who seek for clean and natural ingredients.
Additionally, the organic pea proteins have organic certifications in their packaging which offers transparency and assurance of quality to the consumers, enhancing the trust and credibility on the product.
For instance, in October 2022, Roquette Freres SA, introduced a new range of organic pea ingredients which included organic pea protein. The peas are sourced by the company from a network of organic pea growers hailing in Canada.
Thus, the combination of environmental, ethical, health and taste considerations make the organic pea protein a preferred choice among the consumers over the non-organic pea protein.
<h2 style="text-align: justify;">Pea Protein Isolates Holds Majority of the Market</h2>
Pea protein isolate is showing dominance in the market over other pea proteins, such as concentrate and hydrolyzed. This dominance can be observed since pea protein isolate contains merely pea protein and amino acid, making it a preferred choice among consumers seeking weight loss and building the body muscles. Other pea proteins, such as pea protein concentrate, have less content of protein but an additional amount of carbs with fats and proteins. Thus, it is an ideal option for the consumers who prefer to maximize their protein intake without the excess consumption of carbohydrates and fats.
Moreover, the pea protein isolate improves digestibility and reduces the risk of gastrointestinal discomfort, as it undergoes an additional process of purification which leads to the elimination of non-protein components such as starch and fiber. This makes it a suitable choice for consumers who have digestive issues and sensitive stomach.
Additionally, pea protein isolate has better stability and longer shelf life as compared to hydrolyzed pea protein which keeps the flavor, nutrition, and aroma intact over time.
For instance, in April 2021, Ingredion Incorporated announced the launch of Vitessense Plus 1853 pea protein isolate which has been completely sourced sustainably from the North American Farms. The pea protein isolate provides 85% of protein in dry form.
<h2 style="text-align: justify;">Gluten Free Property is Augmenting the Growth</h2>
Gluten-free pea protein is gaining popularity for many reasons. Some of them include that it addresses the rising demand for gluten free products among the consumers who have celiac diseases. It serves as an excellent substitute for gluten containing grains such as wheat and barley, offering a safe and nutritious source of protein for consumers who follow a gluten-free diet.
Additionally, as gluten free products are perceived by consumers to be healthier, a greater number of consumers seek gluten free alternatives in their diets. It is high in protein, has essential amino acids, and micronutrients which results in its popularity among health-conscious consumers.
Manufacturers are launching distinct formulations of pea proteins to improve the versatility of the product and enable the consumers to conveniently incorporate the pea protein into their gluten free food and beverages.
For instance, in December 2022, Koninklijke DSM N.V., launched Vertis textured pea canola protein. The product is gluten-free, soy-free and dairy-free, appealing to the consumers&rsquo; evolving preferences. It contains all nine vital amino acids, making it a healthy option.
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<h2 style="text-align: justify;">Applicability in Different Food Items Flourishing the Growth</h2>
The versatility of pea protein makes it a highly applicable ingredient in the food and beverage industry, owing to its applicability in different products. Its neutral flavor profile makes it an ideal option for its incorporation in various recipes, ranging from soups to sauces, baked goods to snacks, enriching the texture and nutrition of the food and beverages.
It is used as a substitute for animal proteins like meat and can be used as a key ingredient in burgers, meatballs and sausages, providing a similar texture, taste and nutritional properties.
Additionally, it can be used in dairy alternatives, such as plant-based milks, cheese and yogurts, offering a creamy texture. For instance, in February 2024, Dandone Canada, unveiled a new plant-based yogurt which is made from Canadian pea protein. The yogurt consists of 12g of protein in each serving and provides the consumers with a Greek-style thick consistency.
In January 2024, Plento announced the launch of its latest line up of baked crisps which contains pea protein. The product offers 9 essential amino acids which are not present in the soy protein, expanding its appeal to the consumers.
Future Market Scenario (2024 &ndash; 2031F)
The future of the pea protein market is positive, with various new companies entering the market, existing companies expanding their production capabilities to launch newer products in the market, and continuous product innovation and development through technological advancements and R&amp;Ds. For instance, in February 2024, Louis Dreyfus Company revealed its plans to establish a pea protein isolate production plant in Canada. Companies aiming to expand their business through the launch of new production facilities will create new opportunities in the market for better and newer products.
Report Scope
&ldquo;Pea Protein Market Assessment, Opportunities, and Forecast, 2017-2031F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of the global pea protein market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
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Report Attribute
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Details
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Base Year of the Analysis
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2023
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Historical Period
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2017-2022
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Forecast Period
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2024-2031
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Projected Growth Rate
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CAGR of 11.50% between 2024 and 2031
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Revenue Forecast in 2031
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USD 4.35 billion
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Segments Covered
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Product, Category, Application, End-user, Distribution Channel
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Regions Covered
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North America, Europe, South America, Asia-Pacific, Middle East and Africa
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Key Companies Profile
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Roquette Freres SA, Ingredion Incorporated, Kerry Group plc, Axiom Foods, Inc., The Green Labs LLC, GlobalRidge LLC (NutriBiotic), Foodchem International Corporation, Golden Grain Group Limited, Naked Whey, Inc., Bobbie Baby, Inc. (Baby&rsquo;s Only)
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In the report,&nbsp;global pea protein market&nbsp;has been segmented into the following categories:
<ul style="text-align: justify;">
<li>By Product
<ul>
<li>Isolates</li>
<li>Concentrates</li>
<li>Textured</li>
</ul>
</li>
<li>By Category
<ul>
<li>Conventional</li>
<li>Organic</li>
</ul>
</li>
<li>By Application
<ul>
<li>Convenience Foods</li>
<li>Bakeries and Confectionary</li>
<li>Sports and Energy Supplements</li>
<li>Infant Food</li>
<li>Animal Feed</li>
<li>Other</li>
</ul>
</li>
<li>By End-user
<ul>
<li>Adults</li>
<li>Infants and Toddlers</li>
</ul>
</li>
<li>By Distribution Channel
<ul>
<li>Online</li>
<li>Offline</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
Key players in the market are helping in the growth by focusing on continuous product innovation, retail expansions, and strategic marketing. The manufacturers are actively expanding their product portfolio, increasing the base of the customers, and catering to t.heir evolving needs.
The key players in pea protein market are innovating and launching latest products to enhance the applicability of pea protein and improve the taste and texture of different food items.
For instance, in February 2024, Roquette Freres SA announced the launch of four latest multi-functional pea proteins, namely, Nutralys H85 (Hydrolysate), Nutralys Pea F853M (isolate), and two textured variants, namely, Nutralys T Pea 700M and Nutralys T Pea 700FL. These products are launched to solve the problem of incorporation of plant protein into food and beverage products, providing an enriched texture in food items such as nutritional bars, plant-based meat, protein drinks, and dairy alternatives.
Key Players Operating in Global Pea Protein Market are:
<ul style="text-align: justify;">
<li>Roquette Freres SA</li>
<li>Ingredion Incorporated</li>
<li>Kerry Group plc</li>
<li>Axiom Foods, Inc.</li>
<li>The Green Labs LLC</li>
<li>GlobalRidge LLC (NutriBiotic)</li>
<li>Foodchem International Corporation</li>
<li>Golden Grain Group Limited</li>
<li>Naked Whey, Inc.</li>
<li>Bobbie Baby, Inc. (Baby&rsquo;s Only)</li>
</ul>
Markets and Data&rsquo;s reports answer the following questions:
<ul style="text-align: justify;">
<li>What is the current and future market size of the product/service in question globally or specific to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
<li>How are the markets predicted to develop in the future and what factors will drive or inhibit growth?</li>
<li>What is the business environment and regulatory landscape specific to the product/service?</li>
</ul>
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Global Pea Protein Market Assessment, Opportunities and Forecast, 2017-2031F

Global pea protein market is witnessing expansion due to consumers’ shift towards plant-based proteins.

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