Textured Pea Protein Global Market Report 2024

Textured pea protein serves as a protein supplement extracted from peas, specifically designed for the production of high-protein, plant-based meat substitutes. This product is naturally gluten-free and soy-free, boasting a pleasant taste and texture that makes it an excellent addition to a variety of applications and popular ingredients. Notably, textured pea protein is non-GMO and exhibits low allergenicity, positioning it as a favorable alternative to wheat and soy-based products.

The primary variations of textured pea protein are derived from yellow peas and green peas. Yellow peas, commonly referred to as field peas, are ideally dried rather than consumed in their fresh state. These peas feature a pale yellow skin (seed coat), with the inner peas displaying a deeper yellow color that fades when cooked. Textured pea protein is available in both organic and conventional forms and undergoes different processing methods, including dry and wet processing. Its applications span various industries, including food processing, animal feed, nutraceuticals, sports nutrition, infant nutrition, cosmetics, personal care, and others.

The textured pea protein market research report is one of a series of new reports that provides textured pea protein market statistics, including textured pea protein industry global market size, regional shares, competitors with a textured pea protein market share, detailed textured pea protein market segments, market trends and opportunities, and any further data you may need to thrive in the textured pea protein industry. This textured pea protein market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The textured pea protein market size has grown strongly in recent years. It will grow from $0.58 billion in 2023 to $0.63 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth observed during the historical period can be attributed to several factors, including an increased demand for plant-based proteins, a heightened consumer awareness of health and nutrition, a rise in the incidence of lactose intolerance and allergies, the expansion of vegetarian and vegan diets, and the improved taste and texture of textured pea protein products.

The textured pea protein market size is expected to see strong growth in the next few years. It will grow to $0.91 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The anticipated growth in the forecast period can be ascribed to various factors, including the increasing adoption of clean label and natural ingredients, regulatory support and approvals for pea protein, a growing emphasis on sustainable and ethical sourcing practices, rising consumer interest in sports nutrition and fitness, and market penetration in emerging economies. Noteworthy trends expected during this period encompass technological advancements in protein extraction and processing, innovation in product formulations and applications, enhancements in texture and mouthfeel, the exploration of functional benefits beyond protein, and efforts towards nutritional enrichment and fortification.

The growing interest among consumers in plant-based protein is a key factor contributing to the expansion of the textured pea protein market. Over recent years, there has been a significant increase in consumer adoption of plant-based diets, including vegan, vegetarian, and flexitarian choices. Textured pea protein stands out in terms of protein content, offering one of the highest levels globally, coupled with a pleasing taste and appealing texture. According to a 2021 report by the Good Food Institute, a US-based non-profit organization promoting plant-based and cell-based alternatives, plant-based food sales in the US increased three times more rapidly than non-plant-based foods in 2021. This surge in consumer interest in plant-based proteins is a driving force behind the growth of the textured pea protein market.

The rising demand for fortified and functional foods is expected to propel the textured pea protein market further. Fortified foods are enriched with additional nutrients, while functional foods provide health benefits beyond basic nutrition. Textured pea protein, known for its high protein content, favorable amino acid profile, and ability to emulate meat-like textures, is employed in functional foods such as meat alternatives and vegan burgers. For example, a report from Agriculture and Agri-Food Canada revealed that the retail sales value of fortified or functional foods and beverages in the US reached $68.9 billion in 2021, showing a 3.5% increase from 2020, and they are projected to reach $79.1 billion in 2025. This upward trend in the demand for functional foods is a significant driver for the textured pea protein market.

An emerging trend in the textured pea protein market is the launch of organic pea protein isolates. Major companies in this sector are responding to consumer preferences for organic protein products by introducing organic pea protein. For instance, in June 2021, Roquette Freres, a France-based plant-based ingredient company, introduced NUTRALYS, a range of organic textured proteins derived from peas and fava beans. NUTRALYS offers a variety of textured proteins with neutral flavors and clean labels, meeting the demand for organic plant-based gastronomy.

In response to the growing demand for sustainable and healthy food options, major companies in the textured pea protein market are emphasizing product innovation. This innovation involves the development of novel manufacturing processes or formulations to create textured pea protein products with enhanced texture, taste, and functionality for various food applications. For instance, in December 2022, Royal DSM, a Netherlands-based company in health, nutrition, and bioscience, introduced Vertis textured pea canola protein, a groundbreaking plant protein. This textured vegetable protein is the first to contain all nine essential amino acids needed for a complete protein, offering distinct textural benefits while being soy-free, gluten-free, and dairy-free.

In December 2021, Royal DSM acquired Vestkorn Milling for $68.63 million. This acquisition strengthens DSM's position in the alternative protein business and complements its CanolaPRO rapeseed protein isolate. Vestkorn Milling, based in Denmark, specializes in providing pea and bean-derived ingredients for plant-based protein products.

Major companies operating in the textured pea protein market include Roquette Freres SA, Puris Foods LLC, Burcon Nutrascience Corporation, Nisco ApS, Sotexpro SAS, Exeller NV, Vestkorn Milling AS, Nutri-Pea Ltd., Cosucra Groupe Warcoing SA, Scoular Grain Company, Axiom Foods Inc., Alliance Grain Traders Foods, The Green Labs LLC, DuPont Nutrition & Biosciences, Shandong Jianyuan Foods Co. Ltd., Kerry Group PLC, Emsland Group, Yantai Shuangta Food Co. Ltd., Yantai Oriental Protein Tech Co. Ltd., Shandong Zhaoyuan Food Company, Shandong Huatai Food Co. Ltd., Ingredion Inc., Fenchem Inc., A&B Ingredients, Farbest Brands, Glanbia Nutritionals PLC, Martin & Pleasance Wholesale Pty Ltd., Now Health Group Inc., Prinova Group, Shaanxi Fuheng Biotechnology Co. Ltd.

North America was the largest region in the textured pea protein market in 2023. Europe was the second-largest market in the textured pea protein market. The regions covered in the textured pea protein market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the textured pea protein market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The textured pea protein market consists of sales of green peas and yellow peas. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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