Pea Protein Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, UK, China, Germany, Japan - Size and Forecast 2024-2028

Pea Protein Market Size 2024-2028

The pea protein market size is projected to increase by USD 272 million, at a CAGR of 14.16% between 2023 and 2028. The market is experiencing notable growth due to the rising preference for plant-based foods as well as beverages, particularly pea protein, in countries like the US and Canada. Consumers are turning to plant-based proteins for their nutritional density and health benefits. Additionally, A and B Ingredients Inc. company offers plant-based pea protein, which is used in protein shakes, sauces and dressings, and plant-based meat to enhance nutrition and help to aid muscle growth.

Pea Protein Market Overview

The market shows an Accelerated CAGR during the forecast period.

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Key Pea Protein Market Driver 

Increasing demand for plant-based protein is a key driver. Peas, as leguminous plants, are a rich source of textured protein, making them an ideal texturing agent in various food applications. The fibrous content of pea protein contributes to sustainability and functionality, while its versatility caters to various industries, including logistics operations and the ingredients industry.

Additionally, pea seeds contain globulins, which are converted into Pea ProteinIsolate through wet-milling or dry-milling processes. Pea protein's nutritional profile, including high oil-binding and water-binding capacities, foam stability, foam expansion, whip ability, emulsion stability, and emulsion ability ratio, makes it a preferred choice for high protein diets and those managing chronic illnesses or following fitness trends. The vegan population's increasing numbers also contribute to the demand for vegan food.

 Primary Pea Protein Market Trends 

Aligned with market trends and analysis, the market derived from pea seeds of the leguminous plant is experiencing significant growth due to its texturing agent properties and fibrous content. This sustainably sourced protein offers functionality and versatility, making it an attractive option for various industries. Pea Protein Isolate, produced through wet-milling or dry-milling processes, boasts a nutritional profile rich in globulins.

Moreover, oil-binding and water-binding capacities, foam stability, foam expansion, whip ability, emulsion stability, and emulsion ability ratio make it a valuable ingredient in food and beverage production. The trend toward high protein diets, driven by chronic illnesses and fitness trends, as well as the growing vegan population, further fuels the demand. Industrial production and logistics operations in the ingredients industry are adapting to meet this rising demand.

Major Pea Protein Market Challenge 

Competition from other plant-based products is a key challenge. The market derived from pea seeds, a leguminous plant, has experienced significant competition from other plant-based proteins, such as soy and wheat. Pea protein isolate is obtained through wet-milling or dry-milling processes and possesses a fibrous content, making it an effective texturing agent in various food applications. Its sustainability, functionality, and versatility make it an attractive alternative for those following high protein diets or dealing with chronic illnesses, including heart diseases and certain cancers.

Further, pea protein's nutritional profile includes essential amino acids, globulins, and excellent oil-binding and water-binding capacities. These properties contribute to its foam stability, foam expansion, whip ability, emulsion stability, and emulsion ability ratio, making it a valuable ingredient in the industrial production of food and beverages. Logistics operations in the ingredients industry cater to the growing demand for pea protein due to fitness trends and the increasing vegan population.

Pea Protein Market Segmentation

The market has experienced significant growth in recent years due to the increasing demand for health and wellness, muscle building, and weight management solutions. Pea protein, derived from the leguminous plant, is a clean label alternative to soy and dairy proteins, making it an attractive option for individuals with dietary restrictions. Pea protein's functional properties, including satiety support and health benefits, have driven product innovation in the health and fitness industry. The market offers various varieties, including concentrates and textured forms, which provide plant-based sources of protein for vegan and vegetarian diets. Pea protein's nutritional profile, rich in globulins, is another factor contributing to its popularity. The production process, which includes wet-milling and dry-milling, enhances the oil-binding capacity of pea protein isolates, making it a versatile ingredient in various food and beverage applications. In summary, the pea protein market is thriving due to its ability to cater to the growing demand for clean label, plant-based protein sources that support health and fitness goals.

By Application

Pea protein, derived from textured pea seeds of the leguminous plant, is a texturing agent in various industries due to its fibrous content and sustainability. Its functionality and versatility make it an ideal ingredient for high protein diets, aiding in muscle growth and weight loss. Pea seeds contain globulins, which are rich in essential amino acids, particularly arginine. Pea Protein Isolate is produced through wet-milling or dry-milling processes, offering benefits such as oil-binding capacity, water-binding capacity, foam stability, foam expansion, whip ability, emulsion stability, and emulsion ability ratio. Industrial production and logistics operations in the ingredients industry have been influenced by the increasing demand for pea protein due to its effectiveness in addressing chronic illnesses and fitness trends among the vegan population. Pea protein's nutritional profile, including its ability to replace gelatin in emulsions, has contributed to its growing popularity.

By Product

The market share growth by the isolates segment will be significant during the forecast period. Pea protein isolates, derived from yellow peas through plant processing, offer high nutritional density with approximately 80% protein content. Benson Hill and Merit Functional Foods are among the startups leading in pea protein production. The cold-water filtration method ensures a soy-free, gluten-free, hypoallergenic, non-GMO protein powder with essential amino acids like leucine, arginine, and glutamine.

The Isolates segment was valued at USD 83.10 million in 2018.

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Further, companies like Sunfed Food, Mighty Pea, Elevate Nutrition, YoFiit, and PeaTos use pea protein isolates in various food products, enhancing their flavor and functional properties. Peas, a sustainable agriculture choice, have increased land use efficiency and yields, making them a popular plant-based source for protein-fortified functional foods and vegan diets. Import delays of pulses and dry peas have boosted the demand for pea protein concentrates and isolates in the health and fitness industry. Olympia Dairy, SIG, Cadbury, Amway, Roquette, and other market players explore product innovation using pea protein isolates for nutritional supplements, bone health, and protein supplementation, offering alternatives to animal-based proteins.

Key Regions for the Pea Protein Market

North America is estimated to contribute 39% to the growth of the global market during the forecast period

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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. Key players in this market include Benson Hill, Nutritional Functional Foods, Sunfed Food, Mighty Pea, Elevate Nutrition, YoFiit, PeaTos, and Merit Functional Foods. These startups are driving innovation in plant processing and pea variety development. Pea protein concentrates and isolates are popular in protein-fortified functional foods and nutritional supplements. Companies like Olympia Dairy, SIG, Cadbury, Amway, Roquette, and SIG are incorporating pea protein into their product lines for vegan and vegetarian consumers. Agriculture and land use efficiency are also factors influencing the market. However, import delays and yields can impact the market. Peas and dry peas are essential plant-based sources of protein for vegan diets and flexitarian consumers. The market offers various functional properties and product innovation, making it a non-toxic alternative to animal-based proteins for bone health and protein supplementation.

Company Overview

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market forecasting growth and analysis.

• Key Offering- A and B Ingredients Inc.: The company offers plant-based pea protein, which is used in protein shakes, sauces, and dressings, and plant-based meat to enhance nutrition and helps to aid muscle growth. Also, the company is a manufacturer, distributor, and importer of specialty technical ingredients to the food industry

The  market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Archer Daniels Midland Co., Axiom Foods Inc., Cargill Inc., COSUCRA, DuPont de Nemours Inc., Emsland Starke GmbH, Herba Ingredients BV, Ingredion Inc., Meelunie BV, NutriPea LP, Parrish and Heimbecker Ltd., Puris, Roquette Freres SA, Shandong Jianyuan group, The Scoular Co., Vestkorn Milling AS, and Yantai Shuangta Food Co. Ltd.

The Pea Protein market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The Pea Protein market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• Deployment Outlook
  • Isolates
  • Hydrolysate
  • Concentrates
  • Textured

• Application Outlook
  • Dietary supplement
  • Meat substitutes
  • Bakery goods
  • Beverages
  • Others

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analyst Overview

The Pea Protein market is experiencing significant growth due to its numerous health benefits. This plant-based protein source is gaining popularity among consumers, particularly those following vegetarian or vegan diets. Pea protein is also used as a functional ingredient in various food and beverage applications, including baked goods, dairy alternatives, and sports supplements. The production involves the extraction of proteins from peas through a process called pea protein isolation. Align with market growth and trends, this process results in a high-protein content product that is rich in essential amino acids. Pea protein is also hypoallergenic and easily digestible, making it an attractive alternative to animal-derived proteins. The market for pea protein is driven by increasing consumer awareness of health and wellness, as well as the growing demand for plant-based food options.

Additionally, the rising trend of clean labeling and the use of natural ingredients in food and beverage products is also fueling the growth of the pea protein market. Pea protein is also used in various industries, including pharmaceuticals and cosmetics, due to its functional properties. The versatility of pea protein and its ability to replace animal-derived proteins in various applications is expected to further drive market growth in the coming years. In conclusion, the pea protein market is witnessing steady growth due to its health benefits, versatility, and increasing consumer demand for plant-based protein sources. The market is expected to continue expanding as more applications for pea protein are discovered and consumer preferences shift towards natural and sustainable food options. In today's ever-evolving consumer landscape, priorities are shifting towards natural origin, minimal processing, and clean label products. With an increasing focus on health and sustainability, food formulations are adapting to meet these demands.

Enter yellow field peas, a versatile legume gaining traction for its nutritional benefits and eco-friendly profile. Rich in protein, fiber, and essential nutrients, they cater not only to vegetarians but also to lactose intolerant individuals seeking plant-based alternatives. Pea protein concentrate and textured pea protein, derived from yellow field peas, are becoming popular ingredients for their functionality in various food applications. Almonds and peanuts, known for their nutrient density, are also making waves, offering calcium and energy balance to consumers. Emulsification, texture enhancement, and foaming properties provided by these ingredients contribute to creating appealing and satisfying food products. Moreover, the incorporation of dry, green, and chickpeas adds depth to formulations, promoting muscle repair and supporting overall well-being. As the demand for clean label products continues to rise, the synergy between natural ingredients and innovative food technology becomes paramount in meeting consumer expectations while prioritizing health and sustainability.

What are the Key Data Covered in this Pea Protein Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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