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, Latin America, Middle East & Africa; Historical Production and Consumption (2015-2019); Production and Consumption Forecast (2020-2025); 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:

Market Outlook

In 2019, the global pea protein market reached almost USD 62 million in 2019. It is expected to witness a robust growth in the coming years, growing at a CAGR of 19.2% in the forecast period of 2020-2025. In 2025, the market is projected to attain USD 177.8 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, Latin America, 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.

Introduction

EMR is one of the foremost business intelligence and market research firms with a database of syndicated and customised reports spanning more than 100 industries across global and regional markets. We leverage the knowledge of our highly skilled team of over 100 analysts and more than 3000 independent consultants to provide our clients with thoroughly researched and reliable data tailored to their requirements. We help our clients, who range from Fortune 1000 companies to medium and niche enterprises, make informed strategic decisions through our varied tools and methodology.

Our meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. We understand the distinct nature and requirements for each market and thus, modify our methodology to best fit the industry in question. Our research methodology uses a combination of cutting-edge analytical tools and the expertise of our highly accomplished team, thus, providing our customers with market insights that are accurate, actionable, and help them remain ahead of their competition. EMR’ s fine-tuned research methodology and data analysis, formulated through years of cross-industry experience of our team, ensure that our clients are provided with:

• Value-added and infallible market intelligence.
• A holistic understanding of the current and expected market fluctuations through meticulously collected data.
• Verified information on the probable opportunities and risks in the present and forecasted markets.
• Validated and thoroughly analysed insights derived from our latest analytical tools and impeccable sources.

Assessment Approach

Our approach gives our clients a comprehensive assessment of the prevailing and projected market conditions through the collection, collation, and analysis of data from trusted sources.

Price Assessment

We assess the historical, prevailing, and expected prices of commodities and raw materials by analysing our assiduously collected data from verified primary and secondary sources. Our assessments reflect the market values of related commodities within a region to help our consumers understand the interdependencies and formulate profitable market strategies. Our price assessments cover both the average global prices along with the prevailing regional prices.

Market Assessment

Our market assessments determine the global and regional production and consumption of the product, according to their value and volume. We identify the key growth drivers, opportunities, and restraints that might promote or hinder the future market growth along with an expansive overview of the competitive landscape to help our clients make informed strategic decisions. We also take into account the demographic, economic, cultural, and political factors that might influence the market.

Data Collection

We gather market intelligence through our extensive database of reliable secondary sources and our exhaustive interviews with multiple industry stakeholders. The information gathered through our primary and secondary sources help us verify and extrapolate data relating to prices, trade, and market fluctuations along with the latest developments in the market.

Primary Research

As a part of our primary research, we interact with highly placed industrial professionals possessing an expansive and meticulous insight into the market. We conduct our interviews via mails, telephonic conversations, and one-on-one meetings. Thus, our exhaustive interviews with both buyers and consumers help us provide our clients with verified intelligence regarding the market size, share, drivers, prices, and forecast along with a detailed assessment of your supply chain.

Secondary Research

EMR has access to extensive internal and subscribed databases, which apprise us of the historical and prevailing market conditions and help us forecast the market for the coming few years. Our secondary research involves a wide array of sources ranging from the annual and financial reports of the key players in the industry to governmental and regulatory databases. We refer to various scientific and industry publications and whitepapers to form a comprehensive understanding of the product and the supply chain. Our wide-ranging research also refers to relevant articles and press releases to provide our customers with an up-to-date understanding of the contemporary market. We derive extensive raw data from our secondary research, which then go through a thorough verification and validation process, to help us formulate an exhaustive understanding of the market, the supply chain, the competitive landscape, and the product.

Other Analyst Tools and Data Models

Our extensive and intricate data models, formulated through our propriety technological and analytical resources, help you easily comprehend the expansive market data and aid you in framing vital business and market strategies. Our tools provide you with a cohesive understanding of the industry outlook, taking into account the qualitative and quantitative market variables. Our analytical tools and models are regularly updated according to the changes in the continually evolving market scenarios as well as being adapted to best meet our client’s specific needs. Our research methods involve a blend of the best technological tools used in the industry along with the expertise of our analysts and consultants who can spot and assess the implications of the subtle factors influencing the more complex markets.

Data Prioritisation

Our market assessments take into consideration only those data that are confirmed and are derived from credible and transparent sources. Thus, our clients are presented with accurate and infallible data which can be incorporated into their business strategies.

Data Validation

Before our data is presented to the clients, they undergo an intensive cross-verification and validation process. We corroborate the data gathered through our primary and secondary research by the review and validation of the initial sources along with the verification of the data from other thoroughly vetted sources.

Exigent Data Assessment

Our qualitative and quantitative assessments are time-sensitive, reflecting the most recent value and volume of the market across regions. By constantly updating our databases and reports to reflect the changes taking place in the market, our market and price assessments accurately reflect the prevailing industry conditions.

Thus, our rigorous data collection, thorough statistical analysis, and specialist assessments ensure that our clientele has a greater understanding of the market space, supply chain, price fluctuations, competitive landscape, and other vital factors, helping them emerge as the undisputed industry leaders in their respective fields.