Pea Protein Market

Market Study on Pea Protein: North America and Europe to Lead Global Market Growth

Pea Protein Market Segmented By Pea Protein Powder, Liquid Pea Protein Nature in Isolates, Concentrates, Hydrolysates Form in Food & Beverage Industry, Dietary Supplements, Animal Feed Industry, Cosmetics & Personal Care Industry and Pharmaceuticals

Market Snapshot

By value, Persistence Market Research has projected 6.5% CAGR for the global pea protein market for 2021 to 2031, with the market ending up at a valuation of more than US$ 1.9 Bn by 2031. As per the detailed industry research, emerging markets across regions are expanding at high CAGRs. However, North America is projected to hold more than 37% of global market value share for pea protein through 2031.

As of 2020, by value, the global pea protein market, including pea protein powder and liquid pea protein, held around 1% to 2% share of the global protein market.

Pea Protein Market Value (2020A)

US$ 969.2 Mn

Projected Sales of Pea Protein (2031F)

US$ 1.9 Bn

Value CAGR (2021-2031)

6.5%

Value Share of Top 5 Countries (2020A)

55.9%

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Companies

  • Ingredion Incorporated
  • Cargill Incorporated
  • DowDuPont
  • AGT Food And Ingredients
  • Farbest Brands
  • Roquette Frères
  • Glanbia Plc.
  • The Green Labs LLC
  • Bioway (Xi'an) Organic Ingredients Co. Ltd.
  • The Scoular Company
  • Axiom Foods, Inc.
  • NOW Health Group, Inc.
  • Aminola
  • Maxsun Industries Inc
  • Vestkorn Milling AS
  • Gemef Industries
  • A&B Ingredients
  • Greenway Organics (Tianjin) Co., Ltd.
  • Phyto-Therapy Pty Ltd
  • Puris

2016-2020 Pea Protein Consumption Analysis Compared to 2021-2031 Market Forecasts

From 2016-2020 the global market for pea protein isolates experienced significant growth at the CAGR rate of 4.4%. Major factors that help drive market demand for vegan protein powder is increasing consumer inclination toward naturally sourced supplements and health & wellness products. Demand is also increasing for textured protein in convenient food items and ready-to-eat food products, which helps drive the growth of the global pea protein industry.

  • In the global market, pea protein is highly demanded in North America, followed by Europe. Demand in both these region is anticipated to grow owing to the fact that consumers here are more concerned about their health.
  • The U.S. accounts for a market share around 86.3%, and the U.K. holds around 15.3% in the North American and European regions, respectively. Australia is a major market for textured protein in the Oceania region.
  • The East Asia and South Asia markets are projected to reach US$ 361.9 Mn and US$ 236.3 Mn by 2031, respectively.
  • Overall, the global market for pea protein is anticipated to expand at a high CAGR of 6.5% through 2031.

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How is Growing Demand for Lactose-Free & Gluten-Free Products Bolstering Pea Protein Sales?

Demand for protein- and nutrition-rich products is rising globally as the world's population grows. Proteins can be obtained from various sources such as dairy, animal-based food items, and plant-based ingredients.

Substantial rise is being seen in the lactose-intolerant population and health-conscious consumers. These customers are looking for lactose-free and gluten-free protein components. Pea proteins are naturally sourced gluten-free and lactose-free, and peas are a high-protein and nutrient-rich food.

Thus, consumers are demanding vegan proteins isolates for their nutritional needs. This rising demand for lactose-free and gluten-free products is expected to bolster pea protein sales across the world.

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Why is Global Acceptance of Pea Protein Rising?

Pea protein is made from whole yellow peas, which are high in protein and other essential muscle-building components. Dry pea protein benefits as a natural supplement manufactured by extracting the soluble pea protein from yellow split peas. Yellow peas are increasingly being cultivated for this purpose.

Pea protein stands out when compared to other plant-based proteins in the cropping system, since it is environmentally favourable. Pea protein is also manufactured without any of the usually allergic foods such as milk or eggs.

  • Ingredion Incorporated offers VITESSENCE PULSE 1803, a pea protein isolate that contains 80% of protein.
  • Glanbia Plc offers HarvestPro™ Pea Protein that contains 75-85% protein content in the products.

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How are Allergen-Free Product Consumers Providing Market Growth Opportunity for Pea Protein Isolates?

Pea protein is regarded as a non-allergenic component. It's lactose-free and gluten-free by definition. Lactose intolerance is becoming more common across the world, and more people are avoiding gluten-based products.

Vegan consumers rely on plant-based protein to fulfill their nutritional needs on a daily basis. As a result, rising consumer demand for allergen-free products can be attributed to high pea protein isolate demand.

As a result, pea protein is becoming more popular, as there are fewer people who are allergic to peas. Consequently, pea protein manufacturers have a huge opportunity in the allergen-free market space.

  • According to the National Institute of Health (NIH), 68% of the population around the world has lactose malabsorption. However, 1% of the global population is suffering from celiac disease.

pea-protein-market

How is Pea Protein an Emerging Nutraceutical Supplement in Sports Nutrition?

Pea protein in dietary supplements is valued US$ 392 Mn, and anticipated to reach US$ 750.6 Mn at the end of the forecast period. Vegan protein has a lot of nutritious value for consumer health, as the naturally sourced protein powder can aid in muscle growth during post and pre-workouts.

Pea protein is a non-GMO vegetable protein isolate that is an excellent source of post-workout nourishment for athletes who are struggling to get enough protein from other sources. The number of health-conscious consumers is growing around the world; pea protein product manufacturers thus have attractive potential in the sports and dietary nutrition space.

  • Now Health Group Inc. offers Now Sports protein isolate that is derived from peas, which is an ideal source of post-workout nutrition for athletes.

What Factors are Restraining Pea Protein Demand Growth?

When compared to conventional products, organic products are more expensive. When purchasing organic products, consumers take this into account. Plant-based protein is more expensive than animal-based protein, and organic plant-based protein is even more expensive.

Market expansion is being hampered by consumer concerns about organic pea protein's high price. Organic pea protein powder customers are already limited, and consumers who want plant-based food products are shunning organic pea protein due to its expensive price. This aspect is stifling organic pea protein market growth to some extent.

Pea protein content does not provide the whole components of 100 percent amino acids that the human body requires, as seen in the nutrition chart. Pea is a good source of protein, but it's also strong in carbohydrates. As a result, people are choosing alternatives of pea proteins.

Manufacturers are also developing innovative products with the utilization of alternatives of pea protein such brown rice and casein proteins. This growing awareness about the alternatives of pea protein is hindering overall market expansion.

Country-wise Insights

Why Does the U.K. Lead the Pea Protein Space in the European Market?

The market for pea protein is anticipated to show significant growth in the European region. The U.K. accounts for the largest share in the region with a market value of US$ 41.2 Mn, and expected to reach US$ 68.9 Mn by 2031.

Demand for vegetable-based protein in the European market is growing as it is rich with arginine, an amino acid that helps reduce blood pressure.

Which Country Holds the Largest Market Share in South Asia?

India accounts for the largest share in the South Asian market for pea protein. Owing to increasing health awareness among consumers, the market share of India in the South Asian region is around 43.5%.

Category-wise Insights

Which Pea Protein Form is Most Demanded in the Global Market?

Based on form, pea protein isolates are highly demanded. Market value share of isolates is 49.3%. Demand is rising for the isolate pea protein form owing to the addition of healthy and nutritional content.

How is Bolstering Cosmetics & Personal Care Industry Offering Growth Opportunity to Pea Protein Suppliers?

Demand is rising for vegan protein isolates in the cosmetics & personal care industry for the preparation of beauty care products. Pea is a rich source of antioxidants and phytonutrients. Peas contain amino acids that are used in the preparation of hair and skincare products.

Market value of pea protein in the cosmetics & personal care industry is projected to reach US$ 97.9 Mn at the end of the forecast period.

Impact of COVID-19 Crisis

The global pandemic has had a significant negative impact on economies and sectors such as travel & transportation. As a result of the pandemic, the food and beverage industry was hard-hit across the world, with major supply chain disruptions, distribution cancellations, and firm closures.

Supply of raw material was impacted as a result of lockdowns in major vegetable-based protein producing countries. Disruptions in the supply chain and other countries economic conditions restricted global market growth of vegan protein.

As the situation improves, demand for vegetable-based protein products will rise, owing to growing desire for better food options, and the market will develop in parallel.

Competitive Dashboard

Key players in the global market for vegetable-based proteins are inclined toward investing extensively in expansion, innovation, and R&D processes in order to not only achieve highest quality products but also discover new uses for vegetable-based proteins. Pea protein producers are also striving to improve their operational and innovative capabilities.

  • In February 2018, DuPont de Nemours Inc announced the opening of the Bay Area Innovation Center (BAIC), a new expanded development facility focused on agricultural biotechnology discovery, empowering technological development. The company announced the expansion of its plant-based protein product. The company launched six new plant protein nuggets from its product - TRUPRO 2000 Pea Protein.
  • In 2017, Axiom Foods Inc. launched its new product - Vegotein MA, a non-GMO pea protein analogue, in Las Vegas, as a meat replacement and also as a meat extender.
  • Aminola provides a wide range of protein ingredient products. The company provides pea protein concentrates, pea protein isolates, faba protein concentrates, and lupin protein concentrates.
  • A&B Ingredients unveiled an addition to its pea protein offerings – PisaneR B9. This new pea protein isolate was produced to meet the growing requirements of manufacturers of high-protein baked goods, including protein bars, granola bars, bread products, and extruded crisps.

Pea Protein Industry Report Scope

Attribute

Details

Forecast period

2021-2031

Historical data available for

2016-2020

Market analysis

USD million for value

Key regions covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East & Africa

Key countries covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key market segments covered

  • Nature
  • Form
  • End Use
  • Region

Key companies profiled

  • Ingredion Incorporated
  • Cargill Incorporated
  • DuPont de Nemours Inc.
  • AGT Food and Ingredients
  • Glanbia Plc
  • Axiom Foods Inc.
  • Roquette Frères
  • The Green Labs LLC
  • Bioway (Xi'an) Organic Ingredients Co. Ltd
  • The Scoular Company
  • NOW Health Group Inc.
  • Aminola
  • A&B Ingredients
  • Vestkorn Milling AS
  • Gemef Industries
  • Greenway Organics (Tianjin) Co. Ltd
  • Phyto-Therapy Pty Ltd
  • PURIS
  • Maxsun Industries Inc
  • Farbest Brands

Report coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & pricing

Available upon request

Pea Protein Industry Research by Category

Nature:

  • Pea Protein Powder
  • Liquid Pea Protein

Form:

  • Pea Protein Isolates
  • Pea Protein Concentrates
  • Pea Protein Hydrolysates

End Use:

  • Pea Protein for Food & Beverage Industry
  • Pea Protein for Dietary Supplements
  • Pea Protein for Animal Feed Industry
  • Pea Protein for Cosmetics & Personal Care Industry
  • Pea Protein for Pharmaceuticals

Media Release

- FAQs -

The global pea protein market is currently valued at close to US$ 1 Bn.

Demand drivers for pea protein are protein mania - developed world’s new diet obsession, health-conscious customers moving toward plant protein products, nutrition first - top concerns for vegan & vegetarian consumers, etc.

From 2016 to 2020, demand for pea protein increased at a CAGR of 4.4%.

Sales of pea protein are projected to increase at 6.5% CAGR and be valued at over US$ 1.9 Bn by 2031.

Market trends include increasing consumer preference for chemical-free ingredients, rapid shift in consumption patterns for convenience food, growing awareness among consumers accelerating clean label product consumption, and people's interest in novelty products.

Ingredion Incorporated, DuPont de Nemours Inc., AGT Food and Ingredients, Cargill, Incorporated, and The Archer Daniels Midland Company are the top 5 pea protein manufacturers accounting for around 30% to 40% market share.

The market for pea protein in Germany is progressing at around 7.4% CAGR in the European market.

The U.S., China, U.K., Brazil, and France are the major demand centers for pea protein.

The market in China is anticipated to reach US$ 307.4 Mn by 2031, while that in Australia is slated to reach US$ 18.3 Mn.

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