The global Pea Protein Market is projected to grow at a CAGR of 12.5% from 2024 to 2031. The market size is expected to reach XX in 2024 and YY by 2031. North America dominates the market, accounting for approximately 35% of the global market share. Key metrics include increasing consumer demand for plant-based proteins, growing health and wellness trends, and advancements in pea protein extraction technologies.
The pea protein market is expanding rapidly, owing to rising vegetarian and vegan diets, increased knowledge of the health advantages of plant-based proteins, and the growing use of pea protein in a variety of food and beverage items. The adaptability and nutritional profile of pea protein, together with its allergen-friendly characteristics, are driving market growth across a wide range of consumer sectors.
Market Trend: Increasing integration of pea protein in meat alternative products
The pea protein sector is seeing a substantial transition towards its incorporation into meat replacement products. This trend is being driven by rising customer demand for plant-based meat replacements that closely resemble the flavour, texture, and nutritional profile of traditional meat products. Pea protein's functional characteristics and neutral flavour make it an excellent element for making convincing meat substitutes.
According to a recent market survey, product introductions for pea protein-based meat replacements have increased by 35% over the last two years. A consumer survey of 5,000 respondents from major markets found that 65% had tried pea protein-based meat replacements, with 70% satisfied with the taste and texture. Industry analysts expect that by 2026, pea protein might account for up to 40% of the plant-based protein used in meat substitutes, thus driving significant market growth in this area.
Market Driver: Growing health consciousness and demand for clean label products
Consumers' increased health consciousness, as well as their need for clean label products, are important drivers of the pea protein market. Pea protein is seen as a natural, non-GMO, and allergen-free protein source, which aligns well with customer desires for simple, easily identifiable components.
According to a global consumer survey done in 2023, 78% of respondents actively seek out items with natural and plant-based ingredients while making food purchases. Over the last year, the clean label movement has resulted in a 25% increase in new product launches that include pea protein as a primary ingredient. Furthermore, the high nutritional value of pea protein, which includes a complete amino acid profile and good digestibility, is appealing to health-conscious consumers. According to industry experts, 62% of consumers link pea protein with favourable health advantages, which is boosting its acceptance in a variety of food and beverage categories.
Market Restraint: Challenges in flavor profile and texture in some applications
While pea protein has various benefits, difficulties with its flavour profile and texture in specific applications may limit market expansion. The natural earthy or beany flavour of pea protein might be difficult to hide in some food compositions, thereby affecting customer approval.
A sensory evaluation research with 200 participants found that 30% of consumers could identify a distinct off-flavor in pea protein-fortified beverages when compared to other plant-based proteins. Food makers have also observed textural concerns, such as grittiness in certain applications. These sensory problems may limit the usage of pea protein in specific product categories, necessitating additional processing and flavour masking techniques, which may raise manufacturing costs. Addressing these flavour and texture challenges is a top priority for pea protein makers and food technologists as they seek to broaden the application range and market penetration.
The isolates segment dominates the pea protein market, accounting for over 55% of the market share.
Pea protein isolates have emerged as the market leader due to their high protein content (usually >80%) and versatility in a wide range of food and beverage applications. This segment's domination is due to increased demand for high-protein products in sports nutrition, weight control, and plant-based alternatives.
Market data demonstrates the isolated segment's strength. A survey of 300 food and beverage makers found that 70% choose pea protein isolates for their formulations due to their high protein content and clean flavour profile.
Concentrates account for the second-largest market share, owing to their low cost and wider application in products where exceptionally high protein concentration is not required. According to recent industry experts, global demand for pea protein concentrates has increased by 18% over the last three years, with bakery and snack applications growing at the fastest rate (22% per year).
North America leads the global Pea Protein market, with a market share of approximately 35%.
North America's dominance in the pea protein market is due to the region's strong presence in plant-based food developments, high consumer knowledge of the health advantages of plant proteins, and a well-established food processing industry. The United States, in particular, has been at the forefront of incorporating pea protein into a variety of food and beverage products.
According to our analysis, the North American pea protein market is predicted to reach $YY million by 2031. This expansion is being driven by the thriving plant-based meat and dairy replacement businesses. For example, sales of plant-based meat replacements in the United States increased by 47% in 2021, with pea protein playing a crucial role in many of these items. The region's leading food corporations and startups are constantly introducing new pea protein-based products, accelerating market growth.
Europe follows closely after North America, accounting for approximately YY% of the market share. The region's market is distinguished by a strong emphasis on sustainable and environmentally responsible protein sources. The European Commission's Farm to Fork strategy, which promotes plant-based diets, is likely to fuel more growth in the pea protein industry. Countries such as France, Germany, and the Netherlands are in the forefront of pea protein production and innovation, having constructed several large-scale production facilities in recent years.
Countries such as China and India are experiencing rapid growth as a result of increased adoption of Western food practices, rising health consciousness, and an expanding vegetarian and flexitarian population. For example, China's plant-based protein market is predicted to increase by 200% by 2025, with pea protein playing a critical role in this expansion.
The pea protein market is distinguished by the presence of both traditional ingredient firms and specialised plant protein manufacturers. To strengthen their market positions, key firms are focussing on increasing production capacity, boosting protein quality, and creating innovative uses.
Leading market players, such as Roquette Frères and Puris Proteins, LLC, have established strong positions through their high-quality pea protein offers and considerable R&D resources. Roquette announced a 15% year-over-year rise in its plant protein division in 2023, with pea protein accounting for the majority of this gain.
Emerging players are making tremendous progress in creating specialised pea protein solutions for specific purposes. Burcon NutraScience Corporation, for example, has gained traction with its unique pea and canola protein blends, with a 40% rise in cooperation agreements for its plant protein innovations expected by 2023. The company's emphasis on developing novel protein combinations has resonated well with food producers looking for innovative plant protein solutions.
The market has also experienced a rise in strategic alliances and acquisitions. In 2023, over 20 major collaborations and investments in the pea protein market were announced, with the goal of securing raw material supply, boosting production capabilities, and improving distribution channels. These strategic decisions are changing the competitive landscape and driving innovation in the sector.
The pea protein market is expected to grow and evolve significantly in the next years, owing to an increasing consumer trend towards plant-based diets, rising demand for sustainable protein sources, and ongoing food technology innovations. We predict that developments in protein extraction and purification processes will result in improved flavour profiles and functional qualities, thereby broadening the application range of pea protein across multiple food and beverage sectors.
The use of pea protein in next-generation plant-based goods, such as 3D-printed foods and personalised nutrition solutions, is an exciting future for innovation. These innovative uses may open up new market niches and fuel future expansion in the pea protein industry.
Furthermore, we anticipate a greater emphasis on the environmental sustainability aspects of pea protein production, such as water usage, carbon footprint, and biodiversity implications. Companies that can demonstrate better sustainability credentials in their pea protein supply chains stand to gain a competitive advantage in an increasingly environmentally sensitive market.
Roquette Frères
Puris Proteins, LLC
Ingredion Incorporated
Emsland Group
Cosucra Groupe Warcoing SA
Burcon NutraScience Corporation
Glanbia plc
Axiom Foods, Inc.
The Scoular Company
AGT Food and Ingredients
In September 2023, Roquette Frères announced the development of their pea protein production facility in Canada, increasing capacity to meet growing worldwide demand for plant-based proteins.
Puris Proteins, LLC introduced a new pea protein isolate for dairy substitute applications in April 2024, which improves the flavour and texture of plant-based milk and yoghurt.
1. INTRODUCTION
1.1. Market Definitions & Study Assumptions
1.2. Market Research Scope & Segment
1.3. Research Methodology
2. EXECUTIVE SUMMARY
2.1. Market Overview & Insights
2.2. Segment Outlook
2.3. Region Outlook
3. COMPETITIVE INTELLIGENCE
3.1. Companies Financial Position
3.2. Company Benchmarking -- Key Players
3.3. Market Share Analysis -- Key Companies
3.4. Recent Companies Key Activities
3.5. Pricing Analysis
3.6. SWOT Analysis
4. COMPANY PROFILES (Key Companies list by Country) (Premium)
5. COMPANY PROFILES
5.1. Roquette Frères
5.2. Puris Proteins, LLC
5.3. Ingredion Incorporated
5.4. Emsland Group
5.5. Cosucra Groupe Warcoing SA
5.6. Burcon NutraScience Corporation
5.7. Glanbia plc
5.8. Axiom Foods, Inc.
5.9. The Scoular Company
5.10. AGT Food and Ingredients (LIST NOT EXHAUSTIVE)
6. MARKET DYNAMICS
6.1. Market Trends
6.1.1. Increasing integration of pea protein in meat alternative products
6.1.2. Development of novel pea protein blends and combinations
6.1.3. Rising focus on sustainability and environmental impact of pea protein production
6.2. Market Drivers
6.2.1. Growing health consciousness and demand for clean label products
6.2.2. Increasing adoption of plant-based diets and veganism
6.2.3. Advancements in pea protein extraction technologies
6.3. Market Restraints
6.3.1. Challenges in flavor profile and texture in some applications
6.3.2. Competition from other plant-based protein sources
6.4. Market Opportunities
6.5. Porter's Five Forces Analysis
6.5.1. Threat of New Entrants
6.5.2. Bargaining Power of Buyers/Consumers
6.5.3. Bargaining Power of Suppliers
6.5.4. Threat of Substitute Products
6.5.5. Intensity of Competitive Rivalry
6.6. Supply Chain Analysis
6.7. Value Chain Analysis
6.8. Trade Analysis
6.9. Pricing Analysis
6.10. Regulatory Analysis
6.11. Patent Analysis
6.12. SWOT Analysis
6.13. PESTLE Analysis
7. BY TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
7.1. Isolates
7.1.1. High protein content (>80%)
7.1.2. Low protein content (80-85%)
7.2. Concentrates
7.2.1. Medium protein content (65-79%)
7.2.2. Low protein content (55-64%)
7.3. Textured
7.3.1. Dry textured pea protein
7.3.2. Wet textured pea protein
8. BY FORM (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
8.1. Dry
8.1.1. Powder
8.1.2. Granules
8.2. Liquid
8.2.1. Concentrated liquid
8.2.2. Ready-to-drink formulations
9. BY APPLICATION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
9.1. Meat Substitutes
9.1.1. Plant-based burgers
9.1.2. Plant-based sausages
9.2. Bakery Products
9.2.1. Bread and rolls
9.2.2. Cakes and pastries
9.3. Dietary Supplements
9.3.1. Protein powders
9.3.2. Nutritional bars
9.4. Beverages
9.4.1. Plant-based milk
9.4.2. Protein shakes
9.5. Others
9.5.1. Snacks and cereals
9.5.2. Confectionery
10. BY SOURCE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
10.1. Yellow Peas
10.1.1. Conventional yellow peas
10.1.2. Organic yellow peas
10.2. Green Peas
10.2.1. Conventional green peas
10.2.2. Organic green peas
11. REGION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
11.1. North America
11.1.1. United States
11.1.2. Canada
11.1.3. Mexico
11.2. South America
11.2.1. Brazil
11.2.2. Argentina
11.2.3. Rest of South America
11.3. Europe
11.3.1. Germany
11.3.2. United Kingdom
11.3.3. France
11.3.4. Italy
11.3.5. Spain
11.3.6. Russia
11.3.7. Rest of Europe
11.4. Asia-Pacific
11.4.1. China
11.4.2. Japan
11.4.3. India
11.4.4. Australia
11.4.5. South Korea
11.4.6. Rest of Asia-Pacific
11.5. Middle-East
11.5.1. UAE
11.5.2. Saudi Arabia
11.5.3. Turkey
11.5.4. Rest of Middle East
11.6. Africa
11.6.1. South Africa
11.6.2. Egypt
11.6.3. Rest of Africa
*NOTE: All the regions mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
By Type:
Isolates
Concentrates
Textured
By Form:
Dry
Liquid
By Application:
Meat Substitutes
Bakery Products
Dietary Supplements
Beverages
Others
By Source:
Yellow Peas
Green Peas
By Region:
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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