Pea Protein Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Pea Protein Market is segmented By Product Type (Isolates, Textured, Concentrates), By Form (Powder, Liquid), By Application (Meat Substitutes, Soups & Sauces, Dairy & Dairy Substitutes, Nutritional Supplements, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Pea Protein Market Size

Global Pea Protein Market reached USD 601.2 million in 2022 and is projected to witness lucrative growth by reaching up to USD 1499.2 million by 2031. The market is growing at a CAGR of 12.1% during the forecast period 2024-2031.

Due to health consciousness, environmental concerns, and ethical considerations, there is a  growing popularity of plant-based diets, which has led to a surge in demand for plant-based protein sources. Pea protein, extracted from yellow peas, is regarded as a sustainable and environmentally friendly protein option, making it highly popular.

The sports nutrition and functional foods sectors have witnessed a notable rise in the utilization of pea protein. This is due to its ability to support muscle growth, aid in muscle recovery, and promote overall health and well-being. Pea protein is commonly used in protein powders, bars, beverages, and other functional food products designed for fitness enthusiasts and individuals leading active lifestyles.

Pea Protein Market Scope

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Pea Protein Market Dynamics

Increasing Demand for Plant-Based Protein is Driving the Pea Protein Market Growth 

The number of people adopting vegan and vegetarian lifestyles is increasing globally. For instance, in line with the Global Animal Foundation, there are approximately 88 million vegans in the globe. these vegan individuals rely upon plant-based vegan protein sources to fulfill their dietary requirements, which drives the call for pea protein as a number one protein supply. Pea protein gives an amino acid profile that is just like that of animal proteins, making it a famous preference among vegans and vegetarians and boosting market growth.

Individuals are increasingly opting  for dietary selections that prioritize fitness and sustainability. Plant-primarily based proteins, such as pea protein, are taken into consideration as more healthy alternatives to animal-primarily based proteins as they've lower saturated fats content material, loss of cholesterol, and higher fiber content material. Pea protein provides important amino acids and is suitable for different dietary wishes, consisting of vegan, vegetarian, and gluten-loose diets.

Health and Wellness Trends are Propelling the Demand for Pea Proteins

Pea protein is frequently considered a healthful substitute for animal protein because of its dietary profile. Pea protein is a suited source of protein because it's miles low in fats, cholesterol free, and excessive in amino acids. as instance, 1scoop (32g) of pea protein powder contains five grams of fat, 25 grams of protein, one hundred fifty grams of calcium, one hundred sixty mg of potassium, and so forth. Pea protein is also rich in fiber, which helps digestive health. Consumers seeking nutritious and wholesome food options find pea protein appealing.

Pea protein appears as a complete protein source since it contains all crucial amino acids required for muscle construction and repair. It has received popularity amongst health lovers, athletes, and people who often engage in regular physical sports. Pea protein is often utilized in sports activities nutrient products, protein shakes, and dietary supplements to assist muscle restoration, beautify overall performance, and pleasant heightened protein demands.

The Price Competitiveness Can Restrain the Pea Protein Market Growth

Compared to some other protein sources, like soy or whey protein, pea protein is relatively more expensive. The cost of pea protein production, processing, and extraction techniques can influence its final price, making it less competitive in certain markets. The price factor may limit its adoption, particularly in price-sensitive regions or for cost-conscious consumers.

This higher price point can make it less affordable for certain consumer segments, particularly in regions with lower purchasing power or for individuals who prioritize cost-effective protein options. Affordability plays a significant role in consumer purchasing decisions, and if pea protein is priced higher than competing alternatives, it may limit its adoption.

Pea Protein Market Segment Analysis

The global pea protein market is segmented based on product type, form, application, and region.

The High Protein Content of Pea Protein Isolates Boosts the Segment Growth

Depending upon the product type, the pea protein market is divided into isolates, concentrates, and textured.

In 2022, pea protein isolates had the highest share in the Pea Protein market. Pea protein isolates have a high protein content, making them attractive to consumers seeking a concentrated protein source. For instance, 100 grams of pea protein isolate contains 75 grams of protein which is 150% of the daily value. With their protein content, they provide a substantial amount of amino acids essential for muscle building, recovery, and overall nutrition.

Pea protein isolates are recognized for their neutral flavor profile and smooth texture. These qualities make them adaptable for incorporation into a wide range of food and beverage products without introducing overpowering flavors or substantially modifying the texture. The neutral attributes of pea protein isolates facilitate smoother formulation processes and enhance consumer acceptance.

Source: DataM Intelligence Analysis (2023)

Global Pea Protein Market Geographical Share

Rising Interest in Plant-based Protein in North America Region 

In 2022, the Europe region had the highest share of the Pea Protein market. North America has a well-developed plant-based food industry, which has played a crucial role in driving the demand for pea protein. According to Good Food Institute, 6 in 10 U.S. households purchased plant-based foods in 2022, similar to the prior year. Pea protein, being a vegetable protein source, aligns well with these trends, leading to its growing popularity in the region.

North America is home to several pea protein processing facilities and manufacturing plants. These facilities are equipped with advanced extraction and processing technologies, enabling efficient production and high-quality pea protein isolates. The domestic availability of pea protein caters to the increasing demand in the region and reduces import dependency.

Source: DataM Intelligence Analysis (2023)

Pea Protein Market Companies

The major global players include Emsland Group, Euroduna Food Ingredients GmBh, Now Food, Source Naturals, Inc., Cargill Incorporated, Nutribiotic, Z-Company, Cosucra Groupe Warcoing SA, Axys Nutrition Products Pvt. Ltd., Farbest Brands

COVID-19 Impact on Pea Protein Market

The pandemic has resulted in a heightened focus on health and wellness, with consumers seeking out nutritious food options. Plant-based proteins including pea protein, known for their health benefits, have experienced increased demand during this time. As people look for ways to strengthen their immune systems and maintain a healthy diet, the demand for pea protein has risen.

However, the global pandemic created disruptions in supply chains, affecting the sourcing and transportation of ingredients, including peas for pea protein production. Restrictions on movement and international trade led to challenges in the procurement of raw materials, which, in turn, impacted the production and availability of pea protein products.

Key Developments

• In December 2022, Royal DSM, a global purpose-led science-based company, launched Vertis Textured Pea Canola Protein. It was created to offer a complete protein with more of the meat-like texture
• In October 2022, Roquette, a provider of plant-based ingredients, launched organic pea protein isolates and starch for dairy meat alternatives.
• In December 2020, Ingredion, American food and beverage ingredient provider, expanded its range of plant-based ingredient solutions with the launch of its first-ever protein isolate, VITESSENCE Pulse 1803 pea protein.

Why Purchase the Report?

• To visualize the global pea protein market segmentation based on product type, form, application, and region understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous pea protein market-level data points all for segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Pea Protein Market Report Would Provide Approximately 61 Tables, 57 Figures, And 102 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies