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Pea Protein Market

Global Pea Protein Market Size, Share, Trends, Forecast: By Type: Isolate, Concentrate, Textured; By Form: Dry, Wet; By Application: Bakery and Confectionery, Functional Food and Beverages, Meat Additives, Sports Nutrition; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global Pea Protein Market Outlook

The global pea protein market size reached around USD 2,012.87 million in 2023. The market is estimated to witness robust growth in the coming years, growing at a CAGR of 20.1% in the forecast period of 2024-2032, reaching a value of USD 10,408.25 million by 2032.

 

Key Takeaways

  • Reportedly, there are about 88 million vegans on a global scale.
  • The clean label trend is stimulating processed food manufacturers to include pea protein as a food ingredient.
  • The consumption of pea protein is supported by its hypoallergenic nature.

 

Food ingredients, such as pea proteins, that provide health benefits gained popularity among functional food manufacturers to meet the consumers' demand for functional foods and drinks. Pea proteins are rich in antioxidants that protect the body from damage caused by free radicals and boost the immune system functioning.

 

The potential health benefits of pea protein, such as hypoallergenic properties, high iron content, and improved metabolism, among others, are driving its use in diverse applications. Besides, due to lesser health controversy in comparison to other plant-based proteins like soy protein, the preference for pea protein among end users has surged significantly.

 

Trend towards vegan diet and vegetarianism has increased the demand for pea protein as it can also be consumed by individuals who are lactose intolerant or those who do not include dairy-based protein.

 

Figure: Share of Vegans in Selected Countries in 2022

Global Pea Protein Market

 

Key Trends and Developments

The rising vegan population; increasing awareness of the health benefits of pea protein; environmental benefits offered by pea protein production; and expansion of the e-commerce sector are the major factors impacting the pea protein market growth

 

Jan 24, 2023

Burcon NutraScience Corporation received a notice of allowance from the USPTO (US Patent and Trademark Office) for a patent application covering the unique properties of Burcon's Peazazz® pea protein developed using the company's advanced technology.

 

Jan 23, 2023

Roquette, a global pioneer in plant-based ingredients and vegetable proteins, invested in Daiz, a Japanese start-up that has developed the means of using plant seed germination and an extrusion process to enhance the texture, flavour, and nutritional profile of plant-based foods.

 

Oct 13, 2022

Roquette, launched a new line of Organic Pea Ingredients to meet the rising consumer demand for plant-based products. The company announced the release of a new series of organic pea ingredients, which include organic pea starch and organic pea protein.

 

Sep 12, 2022

Lantmännen Group, Northern Europe’s leading integrated agricultural cooperative, announced that it is investing over SEK 1 billion in a new large-scale pea protein manufacturing facility.

 

Increasing vegan population supporting the market growth

With the rising flexitarian and vegan population, the use of pea protein in various food and beverage applications like sports supplements and as an alternative protein over traditional sources like meat, among others, has been increasing significantly.

 

Rising awareness of the health benefits offered by pea protein

Various health benefits, such as digestibility and anti-allergen properties, are driving the demand for pea protein over other plant-based proteins. Moreover, the increasing focus on weight management and the rising demand for healthy food ingredients are favouring the pea protein market development.

 

Environmental benefits offered by pea protein cultivation

The production of pea protein offers several environmental benefits, including low CO2 absorption, low energy consumption, and reduced water consumption, which is boosting its preference among the environmentally conscious population.

 

Expanding e-commerce sector

An expanding e-commerce sector has increased the availability of organic pea protein products, helping fitness enthusiasts meet their post-workout recovery as well as fitness needs.

 

Pea Protein Market Trends

In the expanding food processing sector, pea protein flours, concentrates, and isolates are used in the production of normal- and low-fat sausages. Pea protein can also be used as an additive for emulsions, owing to its water and fat binding, emulsifying, and foam stabilisation properties. It can function as a substitute for eggs in vegan cookies and cakes and allows bakers to increase the protein content in bread.

 

Manufacturers are boosting their raw material sourcing capabilities by focusing on sustainability, improving raw material quality and traceability along with strengthening their relationship with raw material suppliers. By adopting logistics intelligence, they can further enhance raw material quality and optimise operations.

 

Pea Protein Market By Segments

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Market Segmentation

“Global Pea Protein Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

 

Market Breakup by Type

  • Isolate
  • Concentrate
  • Textured

 

Market Breakup by Form

  • Dry
  • Wet

 

Market Breakup by Application

  • Bakery and Confectionery
  • Functional Food and Beverages
  • Meat Additives
  • Sports Nutrition

 

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

Based on type, isolates account for a significant pea protein market share

Pea protein isolate based products are an excellent choice for people aiming to lose weight and build muscle as they contain high amount of protein and amino acids. In December 2020, Ingredion introduced its first pea protein isolate, which contains at least 80% protein, for use in a variety of products such as nutrition and sports bar, powdered and ready-to-drink beverages, and more. The naturally gluten-free pea protein isolate supports manufacturers of different products to make claims like ‘vegetarian’, ‘vegan’ and ‘high-in-protein’.

 

Textured pea protein is a sustainable alternative to meat. As more and more people join the trend of switching to plant-based diet, the demand for textured pea protein is expected to increase in the coming years.

 

Bakery and confectionery represents the leading application segment in the global pea protein market

Pea protein, a plant-based ingredient available as isolates, concentrates and flour, is widely used by bakers to increase the protein content of breads and other baked goods. The addition of pea protein benefits in water holding, as well as gelation and browning applications, particularly in gluten-free formulations.

 

The rising awareness among consumers is encouraging them to purchase bread and baked goods that include well-recognised, organic and non-GMO proteins, such as pea protein. The clean label trend is compelling food manufacturers to include pea protein as a food ingredient.

 

Pea Protein Market By Region

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Competitive Landscape

The market players are expanding their capacities, setting up new production plants, diversifying supply chain, and developing products with widespread applications and enhanced stability.

 

Yantai Shuangta Food Co., Ltd

Yantai Shuangta Food Co., Ltd, is a publicly listed company headquartered in China. The company offers pea protein, mung bean protein, potato vermicelli, crystal vermicelli, mung bean sheet jelly, etc.

 

Shandong Jianyuan Group

Founded in 2003, Jianyuan Group is a renowned manufacturer of pulse ingredients worldwide. The company utilises advanced technology and services to produce high-quality field pulse ingredients.

 

Roquette Frères S.A.

Headquartered in France, the company offers products for various sectors including biopharma, cosmetics, food and nutrition, animal nutrition, and others.

 

COSUCRA Groupe Warcoing S.A.

Founded in 1852, Cosucra is engaged in manufacturing products based on chicory roots and yellow peas. The company has a global presence with three processing plants and more than 300 employees worldwide.

 

Other notable players operating in the global pea protein market are Burcon NutraScience Corporation, Axiom Foods, Inc., and Naturz Organics, among others.

 

Pea Protein Market Analysis by Region

In North America, pea protein is perceived as a healthy option by consumers across countries like the United States and Canada, due to its familiarity and plant-based and label-friendly nature. This enhances its applications and subsequent demand in diverse applications.

 

The rising flexitarian population in Asia Pacific countries like Japan, India, and Singapore is likely to surge the demand for pea protein that can mimic the mouthfeel and taste of meat. The wide availability of locally produced pea protein-based products in physical retail stores and e-commerce platforms has aided pea protein market in APAC.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
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
  • Bakery and Confectionery
  • Functional Food and Beverages
  • Meat Additives
  • Sports Nutrition
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Yantai Shuangta Food Co., Ltd
  • Shandong Jianyuan Group
  • Roquette Frères S.A.
  • COSUCRA Groupe Warcoing S.A.
  • Burcon NutraScience Corporation
  • Axiom Foods, Inc. 
  • Naturz Organics
  • Others 
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Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

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Pea Protein Market Report Snapshots

Pea Protein Market Size

Pea Protein Market Trends

Pea Protein Market Share

Pea Protein Companies

Pea Protein Market Regional Analysis

 

*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    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Pea Protein Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Pea Protein Historical Market (2018-2023) 
    8.3    Global Pea Protein Market Forecast (2024-2032)
    8.4    Global Pea Protein Market by Type
        8.4.1    Isolate
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Concentrate
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Textured
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Pea Protein Market by Form
        8.5.1    Dry
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Wet
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Pea Protein Market by Application
        8.6.1    Bakery and Confectionery
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Functional Food and Beverages
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Meat Additives
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Sports Nutrition
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
    8.7    Global Pea Protein Market by Region     
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Pea Protein Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Pea Protein Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5   Others
11    Asia Pacific Pea Protein Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Pea Protein Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Pea Protein Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Price Analysis

    16.1    North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
    16.2    Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
    16.3    Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
    16.4    Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
    16.5    Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
17    Competitive Landscape
    17.1    Market Structure
    17.2    Company Profiles
        17.2.1    Yantai Shuangta Food Co., Ltd
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    Shandong Jianyuan Group
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    Roquette Frères S.A.
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    COSUCRA Groupe Warcoing S.A.
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5    Burcon NutraScience Corporation
            17.2.5.1    Company Overview
            17.2.5.2    Product Portfolio
            17.2.5.3    Demographic Reach and Achievements
            17.2.5.4    Certifications
        17.2.6    Axiom Foods, Inc. 
            17.2.6.1    Company Overview
            17.2.6.2    Product Portfolio
            17.2.6.3    Demographic Reach and Achievements
            17.2.6.4    Certifications
        17.2.7    Naturz Organics
            17.2.7.1    Company Overview
            17.2.7.2    Product Portfolio
            17.2.7.3    Demographic Reach and Achievements
            17.2.7.4    Certifications
        17.2.8    Others 
18    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Pea Protein Market: Key Industry Highlights, 2018 and 2032
2.    Global Pea Protein Historical Market: Breakup by Type (USD Million), 2018-2023
3.    Global Pea Protein Market Forecast: Breakup by Type (USD Million), 2024-2032
4.    Global Pea Protein Historical Market: Breakup by Form (USD Million), 2018-2023
5.    Global Pea Protein Market Forecast: Breakup by Form (USD Million), 2024-2032
6.    Global Pea Protein Historical Market: Breakup by Application (USD Million), 2018-2023
7.    Global Pea Protein Market Forecast: Breakup by Application (USD Million), 2024-2032
8.    Global Pea Protein Historical Market: Breakup by Region (USD Million), 2018-2023
9.    Global Pea Protein Market Forecast: Breakup by Region (USD Million), 2024-2032
10.    North America Pea Protein Historical Market: Breakup by Country (USD Million), 2018-2023
11.    North America Pea Protein Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Europe Pea Protein Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Europe Pea Protein Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Asia Pacific Pea Protein Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Asia Pacific Pea Protein Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Latin America Pea Protein Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Latin America Pea Protein Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Middle East and Africa Pea Protein Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Middle East and Africa Pea Protein Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
21.    Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
22.    Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
23.    Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
25.    Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
26.    Global Pea Protein Market Structure

Key Questions Answered in the Report

The market reached a value of around USD 2,012.87 million in 2023.

The market is projected to grow at a CAGR of 20.1% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 10,408.25 million by 2032.

The different types are isolate, concentrate, and textured pea protein.

The key regional markets for pea protein are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Pea protein finds application in bakery and confectionery, functional food and beverages, meat additives, and sports nutrition.

The factors driving the market include the increasing inclination towards veganism and clean label foods, the growing food and beverage sector, and increased demand for gluten-free bakery products.

The key players in the market include Yantai Shuangta Food Co., Ltd, Shandong Jianyuan Group, Roquette Frères S.A., COSUCRA Groupe Warcoing S.A., Burcon NutraScience Corporation, Axiom Foods, Inc., and Naturz Organics, among others.

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