Pea Protein Market - Global Industry Analysis

Pea Protein Market By Type (Isolates, Concentrates, and Textured), By Form (Dry and Wet), By Source (Yellow split peas, Lentils, and Chickpeas), By Application (Meat substitutes, Performance nutrition, Functional foods, Snacks, Beverages, Bakery products, and Confectionery), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Published Date: 01-Mar-2022 Category: Food & Beverage Report Format : PDF Pages: 110 Report Code: ZMR-787 Status : Published

The global Pea Protein market was worth around USD 864.6 million in 2021 and is estimated to grow to about USD 1,892.3 million by 2028, with a compound annual growth rate (CAGR) of approximately 13.9 percent over the forecast period.

Description

Industry Prospective:

The global Pea Protein market was worth around USD 864.6 million in 2021 and is estimated to grow to about USD 1,892.3 million by 2028, with a compound annual growth rate (CAGR) of approximately 13.9 percent over the forecast period. The report analyzes the Pea Protein market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Pea Protein market.

Pea Protein Market: Overview

Pea protein powder is a dietary supplement manufactured from yellow pea protein. It's commonly used to boost the protein level in smoothies and shakes, and because it's naturally vegan and hypoallergenic, it's a good fit for practically any diet. Pea protein is an excellent source of high-quality protein and iron. Pea protein includes all nine necessary amino acids that the human body cannot produce and must obtain from foodstuffs, making it beneficial to muscular building, weight loss, and cardiovascular health.

COVID-19 Impact:

The COVID-19 pandemic had a number of impacts on the agriculture industry as a whole. Countries that produce yellow peas and chickpeas, which are the principal suppliers of pea protein, encountered problems such as impediments to export and transportation. The overall output of these pulses was also hampered by manpower shortages during peak harvest seasons. During the pandemic, however, demand for nutritious and functional meals increased. Pea protein is becoming more popular in affluent nations such as Germany, the United States, the United Kingdom, the Netherlands, and France, where vegan populations are on the rise. As the market gradually reopened, they were able to attain equilibrium in terms of pea demand and supply, and so the global pea protein market could be regarded to have experienced low impact.

Global pea protein market

Pea Protein Market: Growth Drivers

Increasing popularity of plant-based products and vegan food consumers fueling the market growth.

Consumer eating choices have shifted dramatically around the world. A large portion of the population is increasingly preferring foods that are non-animal origin and non-meat, which includes milk or milk-based products. This is primarily fueling the demand for pea protein across the world. Further, health issues including lactose intolerance and animal allergies, as well as a growing health consciousness among consumers, are driving the change in food preferences. As a result of these circumstances, customers have begun to favor plant-based proteins that are free of allergens. In addition to this, an increase in disposable income and the availability of products through several online channels are also contributing to the growth of the global pea protein market.

Pea Protein Market: Restraints

High cost associated with the extraction and processing of pea protein is likely to hamper the market growth.

As a fact, soy protein has a higher level of consumer awareness than pea protein. Because of their large production capacity and great demand, soy protein manufacturers have achieved economies of scale. A pea, on the other hand, is a relatively new product. Wet fractionation is a high-cost process that involves four basic phases and needs a lot of heavy equipment, technology, and procedures. As a result, producers are not aggressively pursuing pea protein as a stand-alone product.

Pea Protein Market: Opportunities

Development of pea protein in new applications may offer great opportunity for market expansion

Pea protein has limited applicability, and it was largely employed as a meat replacement in products that replace plant-based meat and nutraceuticals. Companies operating in the industry, on the other hand, are currently developing new plant-based goods and have effectively incorporated a variety of pea protein uses. Protein powders, nutrition bars, cereals, snacks, ready-to-eat meals, crisps, beverages, bakery, meal-replacement drinks, and confectionery & dairy replacements all include it.

Pea Protein Market: Challenges.

Growth prospects are being hampered by supply restrictions.

The conversion ratio of pea protein extracted from various varieties of peas vary depending on the procedure and the type of pea employed. Peas should be transformed into proteins at a rate of 15 to 20 percent. If the supply of pea protein does not meet the requirements of food and beverage makers, they may move to pea protein substitutes, which might stifle the global pea protein market's growth.

Pea Protein Market: Segmentation

The global pea protein market is categorized based on type, form, source, application, and region. Based on the type, the global market is bifurcated into concentrates, isolates, and textured. By form, the market is divided into wet and dry. In terms of revenue, the dry form accounts for the lion's share. The source segment of the market is bifurcated into lentils, split yellow peas, and chickpeas. Split yellow peas dominate the market, accounting for more than 40% of the total. The application segment is split into meat substitutes, performance nutrition, functional foods, snacks, beverages, bakery products, and confectionery. Among these, the meat substitute segment is projected to register rapid growth over the forecast period.

Recent Developments

  • In January 2020, Merit Functional Food Corp, a joint venture firm of Burcon Nutrascience Corp, has obtained a co-investment from the Protein Industry (Canada). Merit Functional Food Corp's quick expansion in the protein production business would be aided by this advancement. It would make Burcon's new pea and canola protein constituents easier to make.

  • In January 2020, Rouquette Freres has signed a multi-year agreement with the US located Beyond Meat to provide pea protein for the company's plant-based meat products. Roquette Freres' supply of pea proteins to the joint firm, Beyond Meat, is projected to rise as a result of the relationship.

Regional Landscape

Europe controls more than 35% of the global pea protein market. This is largely due to the increasing vegan population in the region. In only four years, the number of vegans food consumers has almost doubled. In the previous four years, the number of vegans in Europe increased from 1.3 million to 2.5 million, accounting for 3.2 percent of the population. Moreover, the demand for disease nutrition and weight control is fueling the pea protein market's expansion in Europe. To meet consumers' health and wellness needs, major food & beverage businesses in Europe are focusing on creating products made with plant protein sources. The market in Asia Pacific is still developing and is expected to offer better growth opportunities for the expansion of the pea protein market over the forecast period.

Competitive Landscape

Key players functioning in the global pea protein market include Ingredion, Rouquette Freres, Puris Foods, Emsland Group, The Green Labs LLC, Fenchem Inc., DuPont, A&B Ingredients, The Scoular Company, Glanbia PLC, and Axiom Foods Inc.

Global Pea Protein market is segmented as follows:

By Type

  • Isolates

  • Concentrates
  • Textured

By Form

  • Dry

  • Wet

By Source

  • Split yellow peas

  • Lentils
  • Chickpeas

By Application

  • Meat substitutes

  • Performance nutrition
  • Functional foods
  • Snacks
  • Beverages
  • Bakery products
  • Confectionery

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  • Chapter 2. Executive Summary
    • 2.1. Global pea protein market 2016 - 2022(Tons) (USD Million)
    • 2.2. Global pea protein market: Snapshot
  • Chapter 3. Pea protein Market – Global and Industry Analysis
    • 3.1. Pea protein : Market dynamics
    • 3.2. Market drivers
      • 3.2.1. Drivers of global pea protein market: Impact analysis
      • 3.2.2. Increasing preference towards vegetarian diet
    • 3.3. Market restraints
      • 3.3.1. Restraints of global pea protein market: Impact analysis
      • 3.3.2. Lack of awareness
    • 3.4. Opportunities
      • 3.4.1. Technological advancements in extrusion and processing
    • 3.5. Porter’s five forces analysis
    • 3.6. Market Attractiveness Analysis
      • 3.6.1. Market attractiveness analysis by product
      • 3.6.2. Market attractiveness analysis by type
      • 3.6.3. Market attractiveness analysis by regional
  • Chapter 4. Global Pea protein Market - Competitive Landscape
    • 4.1. Company market share, 2016
      • 4.1.1. Global pea protein market : company market share, 2016
    • 4.2. Strategic Development
      • 4.2.1. Acquisitions & Mergers
      • 4.2.2. New Product Launch
      • 4.2.3. Agreements, Partnerships, Collaborations and Joint Ventures
      • 4.2.4. Research and Development, Type and Regional Expansion
    • 4.3. Product Portfolio
  • Chapter 5. Global Pea protein Market –Product Analysis
    • 5.1. Global pea protein market: product overview
      • 5.1.1. Global pea protein market revenue share, by product, 2016 - 2022
    • 5.2. Isolates
      • 5.2.1. Global isolates pea protein market, 2016 – 2022 (Tons) (USD Million)
    • 5.3. Concentrated
      • 5.3.1. Global concentrated pea protein market, 2016 – 2022 (Tons) (USD Million)
    • 5.4. Textured
      • 5.4.1. Global textured pea protein market, 2016 – 2022 (Tons) (USD Million)
  • Chapter 6. Global Pea protein Market – Product Analysis
    • 6.1. Global pea protein market: product overview
      • 6.1.1. Global pea protein market revenue share, by product, 2016 - 2022
    • 6.2. Dietary Supplements
      • 6.2.1. Global dietary supplements pea protein market, 2016 – 2022 (Tons) (USD Million)
    • 6.3. Bakery Goods
      • 6.3.1. Global bakery goods pea protein market, 2016 – 2022 (Tons) (USD Million)
    • 6.4. Meat Substitutes
      • 6.4.1. Global meat substitutes pea protein market, 2016 – 2022 (Tons) (USD Million)
    • 6.5. Beverage
      • 6.5.1. Global beverage pea protein market, 2016 – 2022 (Tons) (USD Million)
    • 6.6. Other
      • 6.6.1. Global other pea protein market, 2016 – 2022 (Tons) (USD Million)
  • Chapter 7. Global Pea protein market – Regional Analysis
    • 7.1. Global pea protein market: Regional overview
      • 7.1.1. Global pea protein market volume share, by region, 2016 and 2022
    • 7.2. North America
      • 7.2.1. North America pea protein market volume, by product, 2014 – 2020, ( Tons)
      • 7.2.2. North America pea protein market revenue, by product, 2014 – 2020, (USD Million)
      • 7.2.3. North America pea protein market volume, by application, 2014 – 2020, ( Tons)
      • 7.2.4. North America pea protein market revenue, by application, 2014 – 2020, (USD Million)
      • 7.2.5. U.S.
        • 7.2.5.1. U.S. pea protein market volume, by product, 2016 – 2022 ( Tons)
        • 7.2.5.2. U.S. pea protein market revenue, by product, 2016 – 2022 (USD Million)
        • 7.2.5.3. U.S. pea protein market volume, by application, 2016 – 2022 ( Tons)
        • 7.2.5.4. U.S. pea protein market revenue, by application, 2016 – 2022 (USD Million)
    • 7.3. Europe
      • 7.3.1. Europe pea protein market volume, by product, 2016 – 2022 (Tons)
      • 7.3.2. Europe pea protein market revenue, by product, 2016 – 2022 (USD Million)
      • 7.3.3. Europe pea protein market volume, by application, 2016 – 2022 (Tons)
      • 7.3.4. Europe pea protein market revenue, by application, 2016 – 2022 (USD Million)
      • 7.3.5. UK
        • 7.3.5.1. UK pea protein market volume, by product, 2016 – 2022 ( Tons)
        • 7.3.5.2. UK pea protein market revenue, by product, 2016 – 2022 (USD Million)
        • 7.3.5.3. UK pea protein market volume, by application, 2016 – 2022 ( Tons)
        • 7.3.5.4. UK pea protein market revenue, by application, 2016 – 2022 (USD Million)
      • 7.3.6. France
        • 7.3.6.1. France pea protein market volume, by product, 2014 – 2020, ( Tons)
        • 7.3.6.2. France pea protein market revenue, by product, 2014 – 2020, (USD Million)
        • 7.3.6.3. France pea protein market volume, by application, 2014 – 2020, ( Tons)
        • 7.3.6.4. France pea protein market revenue, by application, 2014 – 2020, (USD Million)
      • 7.3.7. Germany
        • 7.3.7.1. Germany pea protein market volume, by product, 2014 – 2020, ( Tons)
        • 7.3.7.2. Germany pea protein market revenue, by product, 2014 – 2020, (USD Million)
        • 7.3.7.3. Germany pea protein market volume, by application, 2014 – 2020, ( Tons)
        • 7.3.7.4. Germany pea protein market revenue, by application, 2014 – 2020, (USD Million)
    • 7.4. Asia Pacific
      • 7.4.1. Asia Pacific pea protein market volume, by product, 2016 – 2022 ( Tons)
      • 7.4.2. Asia Pacific pea protein market revenue, by product, 2016 – 2022 (USD Million)
      • 7.4.3. Asia Pacific pea protein market volume, by application, 2016 – 2022 ( Tons)
      • 7.4.4. Asia Pacific pea protein market revenue, by application, 2016 – 2022 (USD Million)
      • 7.4.5. China
        • 7.4.5.1. China pea protein market volume, by product, 2016 – 2022 ( Tons)
        • 7.4.5.2. China pea protein market revenue, by product, 2016 – 2022 (USD Million)
        • 7.4.5.3. China pea protein market volume, by application, 2016 – 2022 ( Tons)
        • 7.4.5.4. China pea protein market revenue, by application, 2016 – 2022 (USD Million)
      • 7.4.6. Japan
        • 7.4.6.1. Japan pea protein market volume, by product, 2016 – 2022 ( Tons)
        • 7.4.6.2. Japan pea protein market revenue, by product, 2016 – 2022 (USD Million)
        • 7.4.6.3. Japan pea protein market volume, by application, 2016 – 2022 ( Tons)
        • 7.4.6.4. Japan pea protein market revenue, by application, 2016 – 2022 (USD Million)
      • 7.4.7. India
        • 7.4.7.1. India pea protein market volume, by product, 2016 – 2022 ( Tons)
        • 7.4.7.2. India pea protein market revenue, by product, 2016 – 2022 (USD Million)
        • 7.4.7.3. India pea protein market volume, by application, 2016 – 2022 ( Tons)
        • 7.4.7.4. India pea protein market revenue, by application, 2016 – 2022 (USD Million)
    • 7.5. Latin America
      • 7.5.1. Latin America pea protein market volume, by product, 2016 – 2022 ( Tons)
      • 7.5.2. Latin America pea protein market revenue, by product, 2016 – 2022 (USD Million)
      • 7.5.3. Latin America pea protein market volume, by application, 2016 – 2022 ( Tons)
      • 7.5.4. Latin America pea protein market revenue, by application, 2016 – 2022 (USD Million)
      • 7.5.5. Brazil
        • 7.5.5.1. Brazil pea protein market volume, by product, 2016 – 2022 ( Tons)
        • 7.5.5.2. Brazil pea protein market revenue, by product, 2016 – 2022 (USD Million)
        • 7.5.5.3. Brazil pea protein market volume, by application, 2016 – 2022 ( Tons)
        • 7.5.5.4. Brazil pea protein market revenue, by application, 2016 – 2022 (USD Million)
    • 7.6. Middle East and Africa
      • 7.6.1. Middle East and Africa pea protein market volume, by product, 2016 – 2022 ( Tons)
      • 7.6.2. Middle East and Africa pea protein market revenue, by product, 2016 – 2022 (USD Million)
      • 7.6.3. Middle East and Africa pea protein market volume, by application, 2016 – 2022 ( Tons)
      • 7.6.4. Middle East and Africa pea protein market revenue, by application, 2016 – 2022 (USD Million)
  • Chapter 8. Company Profile
    • 8.1. Roquette Freres
      • 8.1.1. Overview
      • 8.1.2. Financials
      • 8.1.3. Product portfolio
      • 8.1.4. Business strategy
      • 8.1.5. Recent developments
    • 8.2. A&B Ingredients
      • 8.2.1. Overview
      • 8.2.2. Financials
      • 8.2.3. Product portfolio
      • 8.2.4. Business strategy
      • 8.2.5. Recent developments
    • 8.3. Farbest Brands
      • 8.3.1. Overview
      • 8.3.2. Financials
      • 8.3.3. Product portfolio
      • 8.3.4. Business strategy
      • 8.3.5. Recent developments
    • 8.4. Axiom Foods Inc.
      • 8.4.1. Overview
      • 8.4.2. Financials
      • 8.4.3. Product portfolio
      • 8.4.4. Business strategy
      • 8.4.5. Recent developments
    • 8.5. Nutri-Pea Ltd.
      • 8.5.1. Overview
      • 8.5.2. Financials
      • 8.5.3. Product portfolio
      • 8.5.4. Business strategy
      • 8.5.5. Recent developments
    • 8.6. The Scoular Company
      • 8.6.1. Overview
      • 8.6.2. Financials
      • 8.6.3. Product portfolio
      • 8.6.4. Business strategy
      • 8.6.5. Recent developments
    • 8.7. Sotexpro Burcon NutraScience Ltd.
      • 8.7.1. Overview
      • 8.7.2. Financials
      • 8.7.3. Product portfolio
      • 8.7.4. Business strategy
      • 8.7.5. Recent developments
    • 8.8. Consucra-Groupe Warcoing
      • 8.8.1. Overview
      • 8.8.2. Financials
      • 8.8.3. Product portfolio
      • 8.8.4. Business strategy
      • 8.8.5. Recent developments

Table Of Figures

List of Figures

1. Pea protein market segmentation
2. Global pea protein market revenue, 2016 – 2022 (Tons) (USD Million)  
3. Pea protein: Market attractiveness analysis, by product 
4. Pea protein: Market attractiveness analysis, by application  
5. Pea protein: Market attractiveness analysis, by regional 
6. Global Pea protein Market: Company Market Share, 2016 
7. Global pea protein market revenue share by product, 2016 – 2022
8. Global isolates pea protein market, 2016 – 2022 
9. Global concentrated pea protein market, 2016 – 2022 
10.  Global textured pea protein market, 2016 – 2022
11. Global pea protein market revenue share by application, 2016 – 2022
12. Global dietary supplements pea protein market, 2016 – 2022 (Tons) (USD Million)
13. Global bakery goods pea protein market, 2016 – 2022 (Tons) (USD Million) 
14. Global meat substitutes pea protein market, 2016 – 2022 (Tons) (USD Million) 
15. Global beverage pea protein market, 2016 – 2022 (Tons) (USD Million) 
16. Global other pea protein market, 2016 – 2022 (Tons) (USD Million) 
17. Global pea protein market revenue share by region, 2016 - 2022


Table Of Tables

List of Tables

1. Global pea protein market estimates and forecast, 2016 – 2022 (Tons) (USD Million) 
2. Global pea protein market, by region, 2016 – 2022 (Tons) (USD Million) 
3. Global pea protein market, by product, 2016 – 2022 (Tons) (USD Million) 
4. Global pea protein market, by application, 2016 – 2022 (Tons) (USD Million) 
5. Pea protein – Key market driver analysis
6. Pea protein – Key market restraint analysis
7. North America pea protein market revenue, by product, 2016 – 2022 (Tons) (USD Million)  
8. North America pea protein market revenue, by application, 2016 – 2022 (Tons) (USD Million)  
9. Europe pea protein market revenue, by product, 2016 – 2022 (Tons) (Tons) (USD Million)  
10. Europe pea protein market revenue, by application, 2016 – 2022 (Tons) (Tons) (USD Million)  
11. Asia Pacific pea protein market revenue, by product, 2016 – 2022 (Tons) (USD Million) 
12. Asia Pacific pea protein market revenue, by application, 2016 – 2022 (Tons) (USD Million) 
13. Latin America pea protein market revenue, by product, 2016 – 2022 (Tons) (USD Million) 
14. Latin America pea protein market revenue, by application, 2016 – 2022 (Tons) (USD Million) 
15. Middle East and Africa pea protein market revenue, by product, 2016 – 2022 (Tons) (USD Million) 
16. Middle East and Africa pea protein market revenue, by application, 2016 – 2022 (Tons) (USD Million)

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Pea Protein market. Zion Research has collected and analyzed key data belong to the global Pea Protein market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Pea Protein across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Pea Protein industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Pea Protein market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Protein powder can be available in different forms such as whey protein, brown rice protein powder, soy protein, pea protein, etc. However, pea protein is increasingly becoming popular due to its large nutrient content and numerous applications in food & beverage industry. Pea protein products can act as a replacement for a major portion of other proteins in the wide range of food products without having any effect on the taste, color, or texture of the product and in some cases can offer potential cost savings. Pea protein is preferred over other available options because it has no gluten or diary. Pea protein is easy to digest and does not cause bloating; a common problem with other protein powders. Pea protein is useful in a number of medical applications such as maintain healthy muscle, weight management, boost metabolism, and control blood sugar, improve blood circulation and calcium absorption, among others. As a result, is growingly seen as a major alternative to other available forms of protein.

Increasing preference towards vegetarian diet is expected to be the major driver for the global pea protein market. In addition, increasing concern for health and wellness is expected to trigger the growth of pea protein market in the coming years. Moreover, heavy investment in research in development by pea protein manufacturing companies is expected to play a vital role in the growth of pea protein market. However, lack of awareness among end users is projected to act as a major restraint for pea protein market. Nevertheless, technological advancements in extrusion and processing and emerging markets across the globe are expected to act an opportunity for pea protein market in near future.

Global-Pea-Protein-Market

Based on product type the pea protein market can be segmented as isolated, concentrated and textured pea protein. Textured pea protein contains the highest amount of protein in comparison with isolated and concentrated. Textured pea proteins are growingly used as dietary supplements while concentrates are mainly used in aquafeed. Based on application, the pea protein is segmented into dietary supplements, bakery goods, meat substitutes, beverage and others. In 2016, dietary supplements segment held the largest share of pea protein market. As a result of increasing awareness for fitness, the demand for dietary proteins is on the rise which in turn is expected to boost the demand for pea protein.  

North America governed the majority of the pea protein market share in 2016 and is expected to further promote the pea protein market growth in the coming years. A factor contributing to the splendid growth in North America is increasing demand for gluten free products in this region especially in the U.S., and increasing demand for sports nutrition diet. Europe was the second largest consumer of pea protein in 2016. This was mainly due to the shifting preference towards plant-based protein. Asia Pacific is expected to specter enormous growth in the forecast period, owing to growing demand for meat substitute and allergen-friendly sports & fitness supplements. Moreover, favorable regulatory inclination for the agriculture industry, especially in India and China, ensures supply of ample raw material for pea protein production.  Latin America is predicted to grow at the lucrative pace especially due to growth in Brazil. The Middle East and Africa is projected to have a decent growth in the forecast period.

Some of the key players in the pea protein include Roquette Freres, A&B Ingredients, Farbest Brands, Axiom Foods Inc., Nutri-Pea Ltd., The Scoular Company, Sotexpro Burcon NutraScience Ltd., Consucra-Groupe Warcoing among others.

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FrequentlyAsked Questions

Consumer eating choices have shifted dramatically over the world. Because a large portion of the population increasingly prefers food that is non-animal origin and non-meat that include milk or milk-based products. This is primarily fueling the demand for pea protein across the world. Further, health issues including lactose intolerance and animal allergies, as well as a growing health consciousness among consumers, are driving the change in food preferences. As a result of these circumstances, customers have begun to favor plant-based proteins that are free of allergens.

According to the Zion Market Research report, the global Pea Protein market was worth about 864.6 (USD million) in 2021 and is predicted to grow to around 1,892.3 (USD million) by 2028, with a compound annual growth rate (CAGR) of around 13.9 percent.

 

Europe holds the major share in the global pea protein market. This is largely due to the increasing vegan population in the region. In only four years, the number of vegans has doubled. Vegans in Europe have increased from 1.3 million to 2.6 million in the previous four years, accounting for 3.2 percent of the population. Moreover, the demand for disease nutrition and weight control is fueling the pea protein market’s expansion in Europe.

Key players in this market include Rouquette Freres, Ingredion, Puris Foods, Emsland Group, Fenchem Inc., DuPont, The Green Labs LLC, A&B Ingredients, Glanbia PLC, The Scoular Company, and Axiom Foods Inc.

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