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Global Pea Protein Market Share, Size, Research: By Type: Isolate, Concentrate, Textured; By Form: Dry, Wet; By Application: Functional Food, Beverages, Sports Nutrition, Pharmaceuticals, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Pea Protein Market Outlook
In 2020, the global pea protein market reached almost USD 62 million in 2020. It is expected to witness a robust growth in the coming years, growing at a CAGR of 19.2% in the forecast period of 2023-2028. In 2026, the market is projected to attain USD 177.8 million.
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The rising demand for plant-based protein is aiding the pea protein industry growth. The global plant-based protein industry attained a value of nearly USD 11.56 billion in 2018. North America accounts for the largest share in the global plant-based protein market. The United States is a major market in the region as consumers are increasingly seeking out meat and dairy alternatives because of environmental and health reasons. Europe and Asia are the other significant regional markets in the plant protein industry. The two regions, together, account for over 50% of the industry.
While soy dominates the plant-based protein market, pea protein is projected to witness the fastest growth in the coming years. Between 2013 to 2016, the number of new products containing pea protein as a significant ingredient saw an increase of almost 195%. North America and Europe are the leading markets for pea protein ingredients.
Pea protein is witnessing a rising demand in the United States, especially from the beverage segment. After soy protein, pea protein accounted for the largest segment in the plant-based protein beverage launches in the United States between 2013-2017. The industry in North America is being aided by the robust production of peas in Canada. The country accounts for nearly 30% of the global peas production and is also a major exporter of peas, globally.
Properties and Applications
Pea protein refers to the protein extracted from yellow peas and finds applications as a dairy and meat alternative. It is usually consumed as a substitute for whey protein and has properties similar to casein due to its legumin content. According to types, they can be divided into isolate, concentrate, and textured types. By form, they can be bifurcated into dry and wet. Textured pea protein is widely used in meat alternatives and snack bars. The common application sectors for pea protein are:
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- Functional Food
- Beverages
- Sports Nutrition
- Pharmaceuticals
- Meat Additives
- Bakery and Confectionery
- Others
The report also gives an overview of the major regional markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
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Market Analysis
The global pea protein market is finding impetus in the rising demand for meat alternatives proteins as people are giving up meat for health, environmental, and animal-rights reasons. The increasing population of people adopting vegan or vegetarian diets is also aiding the market. While veganism is still considered a niche interest, it is expected to witness a healthy growth in the coming years. Major players in the food and beverage industry are also introducing plant-based or vegan alternatives to traditional products, further aiding the global pea protein market. The industry is also being driven by the growing urban population, along with the rising interest among the younger consumers.
The various health benefits of pea protein are acting as a catalyst for the industry growth. It helps improve blood circulation and calcium absorption, along with regulating the blood sugar. It is finding increasing use in the sports nutrition sector as it is a low-calorie protein option, which aids in muscle growth and contributes to weight management. As it is gluten and lactose-free, it is also witnessing a rising demand from consumers who are allergic or sensitive to dairy, eggs, and other products containing gluten. The market is also being driven by consumers switching from soy to pea protein as they are non-GMO products. The rising innovations taking place in the industry is also aiding its growth.
Competitive Landscape
January 2017- Roquette, a leading food ingredients producer, announced its plans to open a new protein production plant in Portage la Prairie, Manitoba, Canada to meet the rising demand for plant proteins in North America as well as rest of the world.
September 2018- Roquette announced its acquisition of a plant from Texpall B.V. in the Netherlands, which specialises in the extrusion of plant-based proteins, and will help the French company expand its line of premium textured plant-based ingredients like its textured pea proteins to the meet the rising demand for meat alternatives, globally.
The report gives a detailed analysis of the following key players in the global pea protein market, covering their market share, capacity, and latest developments like mergers, acquisitions, and investments, plant turnarounds, and expansions of capacity:
- Roquette Frères S.A
- Burcon NutraScience Corporation
- Axiom Foods Inc
- Farbest-Tallman Foods Corporation
- Cosucra Groupe Warcoing SA
- Shandong Jianyuan Group
- Others
The comprehensive report by EMR gives an in-depth look into the market, looking into the manufacturing process as well as the costs involved. It provides a value chain analysis and assesses the market based on Porter’s Five Forces model. A SWOT analysis has also been provided.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Form, Application, Region |
| Breakup by Type | Isolate, Concentrate, Textured |
| Breakup by Form | Dry, Wet |
| Breakup by Application | Functional Food, Beverages, Sports Nutrition, Pharmaceuticals, Meat Additives, Bakery and Confectionery, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Price Analysis | Historical and Forecast Price Trends- Regional |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Roquette Frères S.A, Burcon NutraScience Corporation, Axiom Foods Inc, Farbest-Tallman Foods Corporation, Cosucra Groupe Warcoing SA, Shandong Jianyuan Group, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Pea Protein Market Analysis
8.1 Key Industry Highlights
8.2 Global Pea Protein Historical Market (2018-2022)
8.3 Global Pea Protein Market Forecast (2023-2028)
8.4 Global Pea Protein Market by Type
8.4.1 Isolate
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Concentrate
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Textured
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global Pea Protein Market by Form
8.5.1 Dry
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Wet
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Pea Protein Market by Application
8.6.1 Functional Food
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Beverages
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Sports Nutrition
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Pharmaceuticals
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Meat Additives
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
8.6.6 Bakery and Confectionery
8.6.6.1 Market Share
8.6.6.2 Historical Trend (2018-2022)
8.6.6.3 Forecast Trend (2023-2028)
8.6.7 Others
8.7 Global Pea Protein Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Price Analysis
12.1 North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
12.2 Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
12.3 Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
12.4 Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
12.5 Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Burcon NutraScience Corporation
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Axiom Foods, Inc.
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Farbest-Tallman Foods Corporation
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Cosucra Groupe Warcoing SA
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Roquette Frères S.A.
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Shandong Jianyuan group
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Others
14 Industry Events and Developments
List of Key Figures and Tables
1. Global Pea Protein Market: Key Industry Highlights, 2018 and 2028
2. Global Pea Protein Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global Pea Protein Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global Pea Protein Historical Market: Breakup by Form (USD Million), 2018-2022
5. Global Pea Protein Market Forecast: Breakup by Form (USD Million), 2023-2028
6. Global Pea Protein Historical Market: Breakup by Application (USD Million), 2018-2022
7. Global Pea Protein Market Forecast: Breakup by Application (USD Million), 2023-2028
8. Global Pea Protein Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global Pea Protein Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America Pea Protein Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America Pea Protein Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe Pea Protein Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe Pea Protein Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific Pea Protein Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific Pea Protein Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America Pea Protein Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America Pea Protein Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa Pea Protein Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa Pea Protein Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Global Pea Protein Market Structure
Key Questions Answered in the Report
In 2020, the global pea protein market attained a value of nearly USD 62 million.
The market is projected to grow at a CAGR of 19.2% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 177.8 million by 2026.
The major drivers of the industry, such as the rising demand for plant-based protein, rising health awareness, growing popularity of pea protein benefits upon consumption, increasing demand from beverage segment, and the rising demand from the developing regions, are expected to aid the market growth.
The key market trend guiding the growth of the market include the rising demand for meat alternatives proteins.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Isolate, concentrate, and textured are the leading types of pea protein in the market.
Dry and wet are the significant forms of the product in the industry.
Functional food, beverages, sports nutrition, pharmaceuticals, meat additives, and bakery and confectionery, among others, are the major application segments of pea protein in the market.
The major players in the industry are Roquette Frères S.A, Burcon NutraScience Corporation, Axiom Foods Inc, Farbest-Tallman Foods Corporation, Cosucra Groupe Warcoing SA, and Shandong Jianyuan Group, among others.
Analyst Review
The global pea protein market attained a value of USD 62 million in 2020, driven by the rising demand for plant-based protein. Aided by the rising demand from the developing regions, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 19.2%. The pea protein market is projected to reach USD 177.8 million by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the market can be segmented into isolate, concentrate, and textured. On the basis of form, the industry is bifurcated into dry and wet. By application, the market is divided into functional food, beverages, sports nutrition, pharmaceuticals, meat additives, bakery and confectionery, and others. The major regional markets for pea proteins are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Roquette Frères S.A, Burcon NutraScience Corporation, Axiom Foods Inc, Farbest-Tallman Foods Corporation, Cosucra Groupe Warcoing SA, and Shandong Jianyuan Group, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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