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Pea Protein Market Segmented By Pea Protein Powder, Liquid Pea Protein Nature in Isolates, Concentrates, Hydrolysates Form
The market for pea protein can be expected to expand at a value-based CAGR of 6.0% and show an increase in revenue from US$ 1,181.7 Mn in 2023 and expected to reach US$ 2,125.4 Mn by 2033.
| Attributes | Key Insights |
|---|---|
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Pea Protein Market Size (2023E) |
US$ 1,181.7 Mn |
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Projected Sales of Pea Protein (2033F) |
US$ 2,125.4 Mn |
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Value CAGR (2023-2033) |
6.0% |
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Value Share of Top 5 Countries (2022E) |
55.9% |
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The global pea protein market has witnessed significant growth in the historical period registering a CAGR of 5.3% and was valued at US$ 1,181.7 Mn in 2023. The major factors that helps to drive market demand for pea protein market is the increasing consumer demand for naturally sourced supplements and health & wellness products. Demand also increases for textured protein in convenient food items and ready to eat food products that helps to drive the growth for global pea protein.
Pea Protein demand around the world is being driven by the booming supplement sector and desire for naturally sourced healthcare products. Organic product consumption is increasing in the global market, and buyers are becoming more aware of organic products, which is expected to drive the sales of pea protein.
Urbanization across the globe has resulted in higher economic standards, increased purchasing power, and a shift in customer preference for healthy food products. In metropolitan areas, consumers are choosing healthy food options such as natural and organic foods. Increased knowledge of non-GMO and chemical-free foods are the factors influencing the growth of naturally sourced protein powder in the global market.
The global market for pea protein is estimated to reach an approximate valuation of US$ 2,125.4 Mn in the forecast period i.e. 2033.
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Get a Customized Version“Increasing Demand for Lactose-free and Gluten-Free Product Bolstering the Demand for the Pea Protein”
The demand for protein and nutrition-rich products is growing worldwide as the global population raises. Proteins can be extracted from various sources such as animal-based, dairy food items, and plant-based ingredients.
A substantial rise in the health-conscious consumers and lactose-intolerant population. These consumers are looking for gluten-free protein and lactose-free 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 protein isolates for their nutritional demand. This rising demand for lactose-free and gluten-free products is expected to bolster the sales of pea protein in the global market.
“Veganism a Global Trend Benefiting the Pea Protein Market”
In recognized markets such as Europe and North America, veganism is an emerging trend. More and more population is leaning towards veganism. This segment of the consumer consumes only plant-based products. This trend is also being channelized in emerging markets such as East Asia and South Asia and Pacific. This increasing popularity of the vegan trend is expected to give thrust to the market demand for pea protein in the international market place.
Vegan and vegetarian population is totally dependent upon plant-based proteins for their nutrition. Consumers opt for a vegan diet as they consider it to be healthy. Pea proteins are the best sources of nutrition for vegan and vegetarian consumers. Nutrition continues to be the top-most priority for vegetarian and vegan consumers as they seek to improve their health through food. This trend is expected to boost the market for pea protein across the world market.
“Rising Acceptance for the Pea Protein market will Fuel the Market”
Pea protein is made from whole yellow peas, which are high in protein and other essential muscle-building components. Dry pea protein is a natural supplement produced 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 like milk or eggs.
Pea protein is gaining attention and relevance around the world as consumers become more aware of its characteristics. This is expected to boost the demand for pea protein in the global market.
“Allergen free Consumer Provides the Potential Growth Opportunity for the 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 over 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 pea protein isolates demand.
As a result, pea protein is becoming more popular, as there are fewer people who are allergic to peas. Consequently, manufacturers have a huge opportunity in the allergen-free market for pea protein.
“Increasing Number of Substitute Products Threatening the Market”
Nutrition chart shows that pea protein does not have a complete profile of 100% amino acids that any human body needs. Pea protein is an excellent source of protein but it also contains high amount of carbs. Thus, consumers are opting for alternative pea proteins. Manufacturers are also innovating new products using substitutes of pea protein such as brown rice and casein proteins. This increasing awareness about pea protein substitutes is hindering the market growth and preventing it from reaching its full potential.
Why UK holds the largest share in the Pea Protein in the European Market?
The market for pea protein is anticipated to show significant growth in the European market. UK accounts the largest share in the region with a market value of US$ 46.3 Mn in 2023. The demand for plant-based protein in the European market is growing and influencing significantly as it is rich with arginine, an amino acid that help to reduce the blood pressure.
What are the Statistics of India in the Global Pea Protein Market?
India is among the prominent shareholder in the South Asia and Pacific Pea Protein market. Owing to increasing health awareness among consumers. The Indian market is estimated at 46.2 Mn in 2022 an registered an F-CAGR of around 10.1%.
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How is the Bolstering Cosmetics & Personal Care Industry Offering Growth Opportunity in the Market?
The demand is rising for vegan protein isolates in the cosmetics & personal care industry in the preparation of beauty care products. Pea is a high source of phytonutrients and antioxidant properties. Pea contains amino acids that are utilised in the manufacturing of hair and skincare products. Moreover, the market value of pea protein in the cosmetics & personal care industry is estimated to be valued at 60.1 Mn in 2022.
Which form of pea protein is the most demanded in the Global Market?
Based on form, isolates, is highly demanded pea protein. The market value share of isolates is 49.6% approximately. The demand rises for isolate form of protein owing to the addition of healthy and nutritional content in consumer’s dietary regime.
The key manufacturer in the global market for pea protein proteins are inclined at investing extensively in innovation, expansion, and research and development (R&D) processes in order to not only achieve the highest quality products but also to discover new uses for vegetables based proteins. The producers also strives to improve their operational and innovative capabilities.
| Attribute | Details |
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Forecast period |
2023-2033 |
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Historical data available for |
2017-2022 |
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Market analysis |
USD million for value |
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Key market segments covered |
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Key companies profiled |
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Report coverage |
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Customization & pricing |
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The global market for pea protein has a value of US$ 1,181.7 Mn in 2023.
The global market for pea protein has a value CAGR of 5.3% from 2017-2022.
The global market for pea protein has a value of US$ 2,125.4 Mn in 2033.
The global market for pea protein has a value CAGR of 6.0% from 2023-2033.
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