Pea Protein Industry Overview
The global pea protein market size was valued at USD 213.1 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 12.7% over the forecast period.
The growth is driven by the rising product demand owing to increasing consumer awareness regarding the consumption of a healthy diet and leading an active lifestyle. In addition, increasing product innovation, in terms of manufacturing, that perform specific functions, including energy balance, weight loss, muscle repair, and satiety, is expected to create immense market potential. The protein is extracted from various types of pea varieties, including dry, green, and chickpeas, available in concentrates, textured, and isolate form.
Gather more insights about the market drivers, restrains and growth of the Global Pea Protein market
These products are derived from plant-based sources, making them ideal for consumers opting for vegan diets. In addition, they are non-toxic, non-allergic, and easily digestible with vast application potential in beverages, meat substitutes, dietary supplements, and bakery products. The rising importance of a flexitarian diet on account of increasing concerns about cardio logical impacts associated with red meat consumption is expected to remain a favorable factor for market growth. Moreover, increasing awareness regarding the adverse effects of foods comprising gluten as well as lactose is expected to play a crucial role in promoting the product demand over the forecast years.
Furthermore, the growing consumption of protein fortified functional foods is anticipated to augment the product demand. Increasing demand for protein supplementation in food products has resulted in new product launches by the food & beverage companies, which is foreseen to have a positive impact on the market growth. The growing awareness about protein powder consumption for promoting bone health and muscle growth is also anticipated to augment market growth over the forecast period.
Pea protein faces a threat of substitution from alternate ingredients, such as hemp, soy, and whey. Rice protein is another ingredient that has been gaining prominence across the globe. When compared nutritionally, both pea and rice proteins contain similar protein content (typically 15-22 grams per 100-calorie serving) and are gluten-free, and allergy-friendly. Rising consumption of whey protein owing to various benefits, such as muscle growth stimulation and easy digestibility, has limited the usage of pea protein, thereby hindering the market growth.
Browse through Grand View Research's Nutraceuticals & Functional Foods Industry Research Reports.
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Pea Protein Market Segmentation
Grand View Research has segmented the global pea protein market on the basis of product, application, and region:
Pea Protein Product Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)
- Isolates
- Concentrates
- Textured
- Hydrolysate
Pea Protein Application Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)
- Meat Substitutes
- Bakery Goods
- Dietary Supplements
- Beverage
- Others
Pea Protein Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Market Share Insights
October 2021 - Puris Protein LLC opened a new production facility in Dawson, Minnesota, U.S. This production facility produces more than double the capacity for such type of protein.
January 2020 - Roquette Freres announce its multi-year partnership with Beyond Meat to supply its pea protein.
Key Companies profiled:
Some prominent players in the global Pea Protein market include
- Burcon Nutrascience
- Roquette Freres
- The Scoular Company
- DuPont
- Cosucra Groupe Warcoing SA
- Nutri-Pea Ltd.
- Shandong Jianyuan Group
- Sotexpro SA
- Ingredion, Inc.
- Axiom Foods, Inc.
- Fenchem, Inc.
- Martin & Pleasance
- The Green Labs LLC
Order a free sample PDF of the Pea Protein Market Intelligence Study, published by Grand View Research.
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