Pea Protein Market

Introduction:

Welcome to Pea Protein Market, where we dive deep into the complex landscape of the pea protein market and uncover the many opportunities, challenges and trends shaping this dynamic industry. Once a niche ingredient, pea protein has risen into the spotlight as a versatile and sustainable alternative to traditional animal proteins, gaining attention from consumers, producers and investors. In this wide-ranging expedition, we explore the multifaceted world of pea protein and trace its evolution from humble legume to nutritional powerhouse. As we navigate the complexities of the market, we reveal the forces behind its rapid growth, the diverse applications fueling its popularity, and the innovative solutions that propel it forward.

Pea Protein Market

Size, by Product, - (USD Billion)

Low Purity Pea Protein Isolate

Medium Purity Pea Protein Isolate

High Purity Pea Protein Isolate

Others

Other Products

The Market will Grow

At the CAGR of:

11.85%

The Forecast Market

Size for in USD:

$710.49 Million B

Global Pea Protein Market Size was estimated at USD 288.43 Million in 2024 and is projected to reach USD 710.49 Million by 2032, exhibiting a CAGR of 11.85% during the forecast period (2024-2032)

Pea protein obtained from yellow peas has an impressive nutritional value, rich in essential amino acids, iron and plant-based properties. Its versatility makes it a sought-after ingredient in many foods and beverages, including plant-based meats, dairy products, sports nutrition products and health foods. In addition to its nutritional value, pea protein is also known for its durability, which offers a more environmentally friendly alternative to livestock farming. As concerns about climate change, resource depletion and animal welfare increase, pea protein is a compelling solution for consumers who want to make more informed choices about their eating habits.

Market Overview:

Growth factors such as demand for plant-based proteins, health and fitness trends, and growing vegan and vegetarian population will drive demand during the forecast period. In addition, the versatility and ability of pea protein to provide functional properties such as emulsification, texture improvement and foaming expanded its market potential. In addition, the production of more and more product innovations that fulfill specific functions such as energy balance, weight loss, muscle recovery and satiety will create a high market potential.

Due to the increasing importance of flexible dieting, increasing concern about the cardiological effects associated with consumption of red meat is expected to remain a driving factor for the market growth. Additionally, growing awareness of the adverse effects of gluten- and lactose-containing foods is expected to play a crucial role in driving product demand in the forecast years. In addition, the demand for the products is expected to increase due to the increasing consumption of protein-rich foods with health benefits. The increase in demand for dietary protein supplements has led to the introduction of new products by food and beverage companies, which are believed to have a positive impact on market growth. In December 2021, innovative Belgian start-up Tiptop teamed up with Olympia Dairy and SIG to launch a new range of pea protein drinks on the Belgian market. Growing awareness about consuming protein powder to promote bone health and muscle growth will also drive market growth during the forecast period.

Market Trends:

• Rising Demand for Plant-Based Proteins
• Expansion of Plant-Based Meat and Dairy Alternatives
• Innovation in Product Formulations
• Expansion into Sports Nutrition and Functional Foods
• Clean Label and Sustainability Concerns
• Expansion into New Markets and Applications:

Market Drivers:

• Growing Consumer Awareness of Sustainability and Health Concerns
• Growing Adoption of Vegetarian and Vegan Diets
• Trends in Health and Wellness
• Market Expansion for Sports Nutrition
• Consumer preferences 
• Features That Make Pea Protein Allergen- and Gluten-Free
• Growing Uses in the Food and Beverage Sector
• Technological Developments in Processing

Market Restraining Factors:

Price volatility: Several variables can affect the price of pea protein, including weather, crop yields and consumer demand. Price volatility can affect profit margins and create difficulties for producers, especially small and medium-sized enterprises (SMEs) with limited financing.

Competition from other plant proteins: Soy, wheat, rice, hemp and other plant protein sources compete with pea protein. The market share and growth potential of pea protein may be limited by the availability of alternative protein alternatives, especially in the face of tough competition, such as sports nutrition and meat substitutes.

Limited consumer awareness and acceptance: Although plant-based diets are becoming increasingly popular, the general public may not be fully aware or accepting of pea protein. Pea protein may not be as familiar or palatable to some customers as other protein sources, which may hinder its adoption and market penetration.

Supply Chain Constraints: Constraints in the pea protein supply chain, such as access to raw materials, transportation arrangements and processing capabilities, can limit market expansion. Shortages of quality pea crops and processing plants can affect the supply of pea protein and cause supply shortages, especially during times of high demand.

Texture and taste problems: In some food applications, pea protein products can have texture and taste problems such as chalkiness, beefiness or roughness. In certain product categories, exceeding the sensory characteristics and achieving the desired taste and mouthfeel may require additional work and prevent market launch.

Regulatory standards and labeling requirements: Compliance with regulatory standards and labeling requirements can be difficult for manufacturers of pea protein products, especially in areas with strict laws regarding food safety, labeling and ingredient claims. Regulatory compliance increases the complexity and cost of product development and marketing initiatives.

Naturally Occurring Substances: Trypsin inhibitors, phytic acid and lectins are examples of naturally occurring substances found in pea protein that are considered nutrients. Although these substances are generally considered safe to eat and are present in relatively small amounts, concerns about nutritional factors may affect customer perceptions and demand for pea protein products.

Pea Protein Market

Share, by end user, (USD Billion)

288.43 Million %

Sports Nutrition Food

Energy Drinks

Health Food

Pet Food

Other End-Users

710.49 Million

Total Market Size

USD (Billion),

11.85%

CAGR

-

Key Market Opportunities:

• Expansion of Product Offerings
• Innovation in Food and Beverage Products
• Expansion into Emerging Markets
• Partnerships and Collaborations
• Focus on Sustainability and Traceability
• Nutritional Fortification and Functional Benefits

Key Players:

Burcon Nutrascience

Roquette Freres

The Scoular Company

DuPont

Cosucra Groupe Warcoing SA

Nutri-Pea

Shandong Jianyuan Group

Sotexpro SA

Ingredion, Inc.

Axiom Foods, Inc.

Fenchem, Inc.

Martin & Pleasance

The Green Labs LLC

Recent Developments:

Vancouver, British Columbia, May 29, 2024 — Burcon Nutra Science Corporation (“Burcon” or the “Company”) a global technology leader in the development of plant-based proteins for foods and beverages, proudly announces the launch of its high-purity, nutritionally complete canola protein, expanding its portfolio of high quality, better-for-you protein ingredients.

May 15, 2024 (GLOBE NEWSWIRE) -- Today, the board of directors of Ingredion Incorporated (NYSE: INGR) declared a quarterly dividend of $0.78 per share on the Company’s common stock. The dividend is payable on July 23, 2024, to stockholders of record at the close of business on July 1, 2024.

Market Insights:

The industry focused on the production, sale and consumption of pea protein isolates, vegetable protein derived from yellow peas (Pisum sativum), is known as the pea protein isolate market. With its rich amino acid profile and known nutritional value, pea protein isolate is a favorite among athletes, health-conscious customers and those on restricted diets.

The market is expanding due to several factors, including the increasing demand for plant-based protein substitutes worldwide, increasing awareness of the benefits of consuming pea protein, and the growing number of vegans and vegetarians. In the food and beverage industry, pea protein isolate is an important ingredient used in protein bars, smoothies, meat substitutes, baked goods and dietary supplements.

Manufacturers use advanced extraction methods in the pea protein isolate market to ensure they create the best isolates with improved purity and functionality. By removing the protein from the peas and reducing the amount of nutrients, a pure and allergy-friendly protein source is obtained during the extraction process. The market is characterized by Rand's focus on creating new formulations, improving flavors and textures, and solving solvable problems.

Pea Protein Market

Size, by Product, - (USD Billion)

The Market will Grow

At the CAGR of:

11.85%

The Forecast Market

Size for in USD:

$710.49 Million B

Market Segmentation:

By Type

• Low Purity Pea Protein Isolate 
• Medium Purity Pea Protein Isolate 
• High Purity Pea Protein Isolate 

By Application

• Sports Nutrition Food
• Energy Drinks
• Health Food
• Pet Food
• Others

By Geography

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

Research Methodology

The qualitative and quantitative data of the Pea Protein Isolate Market is prepared through various research considerations such as subject matter expert advice, primary and secondary research. Primary research leverages valuable information from face-to-face and/or telephonic interviews and surveys, questionnaires, industry expert opinion, KOLs, customers, and others. Primary interviews are conducted regularly with industry experts to create in-depth expert information on the market and to substantiate the existing analysis of the data.

Secondary research done by Verified Market Reports research team through various sources such as

• Company websites, annual reports, financial reports, investor presentations and SEC filings
• Internal and external proprietary databases, relevant patent, and regulatory databases
• National government documents, statistical databases, and market reports
• News articles, press releases and web-casts specific to the companies operating in the market

• Paid database

  Pea Protein Market TO (USD BN)

  

  CAGR OF

  11.85%

  Pea Protein Market

  

  710.49 Million %

Stakeholders in the Pea Protein Market can include:

• Pea Farmers and Growers
• Pea Protein Manufacturers
• Food and Beverage Companies
• Retailers and Distributors
• Consumers
• Regulatory Authorities
• Industry Associations and Trade Organizations
• Research Institutions and Academia

Conclusion:

In conclusion, research into the pea protein market has shown that the landscape is ripe with innovation, sustainability and opportunity. From the humble legume to the current nutritional powerhouse, pea protein has captivated consumers, producers and investors alike with its versatility, health benefits and environmental friendliness. When we consider the key trends, market dynamics and stakeholder roles that are shaping the pea protein market, it is clear that this growing industry holds enormous promise for the future of food and nutrition. With the rise of plant-based diets, increasing awareness of sustainability issues and growing demand for clean label ingredients, pea protein plays a key role in shaping the way we eat, drink and live. But beyond its nutritional prowess, pea protein represents a broader shift toward more conscious and compassionate choices about how we live for ourselves and the planet. By adopting plant-based proteins like pea protein, we not only support our own health and well-being, but also contribute to the sustainability of our food systems and the protection of the environment. As stakeholders in the pea protein market, we have a shared responsibility to drive innovation, promote transparency and prioritize sustainability throughout the supply chain. By working together to overcome challenges and seize opportunities, we can unlock the full potential of pea protein to create a healthier and more sustainable future for all.