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Global Pea Protein Market: By Type: Isolate, Concentrate, Textured; By Form: Dry, Wet; By Application: Functional Food, Beverages, Sports Nutrition, Pharmaceuticals, Meat Additives, Bakery and Confectionery, Others; By Region: North America, Europe, Asia Pacific, LATAM, Middle East & Africa; Historical Production and Consumption (2014-2018); Production and Consumption Forecast (2019-2024); SWOT Analysis: Value Chain Analysis: Porter’s Five Forces Analysis: Global Pea Protein Price Analysis: Manufacturing Process: Cost Analysis: Competitive Landscape & Supplier Analysis: Consumer Analysis: Events and Developments

Global Pea Protein Market Key Insights:

 

  • Global Pea Protein Market Performance 
  • Global Pea Protein Market Analysis and Outlook 2019-2024
  • Price Trends
  • Consumer Analysis
  • Global Pea Protein Breakup by Region
  • Cost Analysis
  • Competitive Landscape
  • Value Chain Analysis
  • Mergers and Acquisitions

 

Market Outlook

In 2018, the global pea protein market reached almost USD 52 million in 2018. It is expected to witness a robust growth in the coming years, growing at a CAGR of 19.2% in the forecast period of 2019-2024. In 2024, the market is projected to attain USD 146.6 million.

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 US 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 US, especially from the beverage segment. After soy protein, pea protein accounted for the largest segment in the plant-based protein beverage launches in the US 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:

  • 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, LATAM, Europe, the Middle East and Africa, and the Asia Pacific.

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.

1    Preface
2    Research Methodology
3    Executive Summary

    3.1    Market Overview
    3.2    Key Demand Drivers
    3.3    Key Players
    3.4    Supply Market Changes
4    Global Pea Protein Market Overview
    4.1    Global Pea Protein Market Analysis

        4.1.1    Figure: Global Pea Protein Historical Market (2014-2018) & Forecast (2019-2024)
        4.1.2    Chart: Global Pea Protein Market Breakup by Type
            4.1.2.1    Isolate
            4.1.2.2    Concentrate
            4.1.2.3    Textured
        4.1.3    Figure: Global Pea Protein Market Breakup by Product Type: Historical Market (2014-2018) & Forecast (2019-2024)
            4.1.3.1    Isolate
            4.1.3.2    Concentrate
            4.1.3.3    Textured
        4.1.4    Chart: Global Pea Protein Market Breakup by Form
            4.1.4.1    Dry
            4.1.4.2    Wet
        4.1.5    Figure: Global Pea Protein Market Breakup by Form: Market (2014-2018) & Forecast (2019-2024)
            4.1.5.1    Dry 
            4.1.5.2    Wet
        4.1.6    Chart: Global Pea Protein Market Breakup by Application
            4.1.6.1    Functional Food
            4.1.6.2    Beverages
            4.1.6.3    Sports Nutrition
            4.1.6.4    Pharmaceuticals
            4.1.6.5    Meat Additives
            4.1.6.6    Bakery and Confectionery
            4.1.6.7    Others
        4.1.7    Figure: Global Pea Protein Market Breakup by Application: Market (2014-2018) & Forecast (2019-2024)
            4.1.7.1    Functional Food
            4.1.7.2    Beverages
            4.1.7.3    Sports Nutrition
            4.1.7.4    Pharmaceuticals
            4.1.7.5    Meat Additives
            4.1.7.6    Bakery and Confectionery
            4.1.7.7    Others
        4.1.8    Chart: Global Pea Protein Market Breakup by Region
            4.1.8.1    North America
            4.1.8.2    Europe
            4.1.8.3    Asia Pacific
            4.1.8.4    LATAM
            4.1.8.5    Middle East and Africa
        4.1.9    Figure: Global Pea Protein Market Breakup by Region: Market (2014-2018) & Forecast (2019-2024)
            4.1.9.1    North America
            4.1.9.2    Europe
            4.1.9.3    Asia Pacific
            4.1.9.4    LATAM
            4.1.9.5    Middle East and Africa
    4.2    SWOT Analysis
        4.2.1    Overview
        4.2.2    Strengths
        4.2.3    Weaknesses 
        4.2.4    Opportunities
        4.2.5    Threats
    4.3    Value Chain Analysis
    4.4    Porter’s Five Forces Analysis

        4.4.1    Overview
        4.4.2    Buyer’s Power
        4.4.3    Supplier’s Power
        4.4.4    New Entrants
        4.4.5    Degree of Rivalry
        4.4.6    Substitutes
    4.5    Global Pea Protein Price Analysis
        4.5.1    North America Pea Protein Historical Price Trends (2014-2018) & Forecast (2019- 2024)
        4.5.2    Europe Pea Protein Historical Price Trends (2014-2018) & Forecast (2019-2024)
        4.5.3    Asia Pacific Pea Protein Historical Price Trends (2014-2018) & Forecast (2019-2024)
        4.5.4    LATAM Pea Protein Historical Price Trends (2014-2018) & Forecast (2019-2024)
        4.5.5    Middle East & Africa Pea Protein Historical Price Trends (2014-2018) & Forecast (2019-2024)
5    Manufacturing Process
    5.1    Detailed Process Flow
    5.2    Operations Involved
    5.3    Mass Balance
6    Cost Analysis
    6.1    Land, Location and Site Development
    6.2    Construction
    6.3    Plant Machinery
    6.4    Cost of Raw Material
    6.5    Packaging
    6.6    Transportation
    6.7    Utilities
    6.8    Manpower
    6.9    Other Capital Investment 
7    Competitive Landscape & Supplier Analysis
    7.1    Roquette Frères S.A
    7.2    Burcon NutraScience Corporation
    7.3    Axiom Foods Inc
    7.4    Farbest-Tallman Foods Corporation
    7.5    Cosucra Groupe Warcoing SA 
    7.6    Shandong Jianyuan Group
    7.7    Others
8    Consumer Analysis
9    Events and Developments

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