Pea protein is a dietary product and protein supplement developed and extracted from yellow split peas, chickpeas, and lentils. It can be used as a food replacement or dietary supplement to boost a person's consumption of protein or other nutrients. Pea proteins are perfect for people choosing vegan diets because they are made from plant-based sources. Additionally, they have a wide range of applications in beverages, meat alternatives, dietary supplements, and bakery goods and are non-toxic, non-allergic, and easily digestible.
According to this analysis, the Global Pea Protein Market was valued at US$ 350 million in 2017. it is estimated to be US$ 575 million in 2022 and is expected to reach a market size of US$ 1,100 million by 2028 growing at a CAGR of ~12% during the forecast period (2022-2028). The growth can be attributed to the rise in the number of vegans, the popularity of plant-based & gluten-free goods, and the nutritional advantages of products made from peas.
The market for pea proteins is predicted to increase as a result of consumers' increased focus on their health and the replacement of traditional meat products like sausages and patties with plant-based alternatives. The market for plant-based proteins is anticipated to develop over the course of the estimated period as the number of vegan and flexitarian consumers rises.
Due to growing consumer awareness of their health, consumption of a diet high in protein content has increased dramatically. Furthermore, due to hectic lifestyles, consumers are forced to look for nutrients in packaged food products because they are unable to regularly consume a nutritionally adequate diet. As a result, producers of packaged foods are adding protein and other nutrient-rich components to food products. The primary causes influencing the adoption of a protein-rich diet are the rising prevalence of chronic illnesses brought on by altered lifestyles.
Supply shortage is the main issue that pea protein producers must deal with. Agriculture is already being impacted by climate change, though the effects are unevenly spread worldwide. The yields of desired crops eventually decline as temperatures rise. Pulses, which are among the most affordable sources of protein, have seen a slight increase in price in the past few years.
Pea protein market was impacted by the COVID-19 pandemic outbreak. The implementation of lockdowns in international markets in 2020 initially had a big impact on the sales of several large stores in the food and beverage sectors. Sales declined over a short period. However, as the market for online food and grocery purchases grew in the middle of the 2020s, these sales quickly rebounded. The population continued to be under lockdown, which led to a stronger focus on healthy eating. Additionally, governments around the world worked to maintain food security in their nations and regions, which kept the food sector industries afloat.
By Nature: Organic segment held the largest market share in 2021, due to growing interest in organic products as a result of the popularity of clean-label products and the expansion of certified organic pea farm production.
Organic pea protein concentrate is made by isolating the protein fraction from the carbohydrate and fiber components of organic pea seeds. Concentrates made from organic pea protein are less processed than isolates. Typically, they range from 70% to 85% protein. Both dry and wet milling techniques are used to remove them from organic peas.
The need for natural products with fewer chemicals and additives is increasing the trend toward clean-label products, which is fuelling the expansion of the global organic pea protein market.
By Source: Yellow split peas segment held the largest market share in 2021, as they are the sources of peas mostly preferred by product manufacturers.
Yellow split peas are perfect for producing pea protein isolates due to their high protein content. Comparing them to alternatives made from dairy and meat, they are valued for their amino acid composition, which led to their classification as 'whole proteins.'
100 grams of yellow split peas provide 370 calories, 1 gram of fat, 67 grams of carbs (27 grams of fiber and 3 grams of sugar), 27 grams of protein, and 25% of the recommended daily allowance of iron.
By Form: Dry segment held the largest market share in 2021, primarily due to the low capital requirements, reduced energy and water usage compared to wet, and the significant demand for dry protein components from the food and beverage industry.
During dry processing, whole or dehulled peas are dried, ground, and milled. Protein and starch fractions are then separated depending on mass and various particle sizes using a spiral stream of air. Protein content in products created through dry processing ranges from 50 to 60 weight percent.
By Application: The meat substitutes segment held the largest market share in 2021, due to an increase in demand for plant-based food products will raise demand for meat alternatives.
The product has been utilized more frequently in recent years to create meat substitutes including burger patties and minced beef due to inexpensive processing costs and practical storage options. More people should employ isolates as a viable food for those who don't consume animal-based protein as consumer concerns about meat allergies grow. These factors are driving the demand for the product in the meat substitute application.
By Geography: North America accounted for the largest market share in 2021 of the global pea protein market, the main factors driving the global market are the rising vegan population, the rising demand for health & wellness products, and the rising consumption of processed meat products.
Growing demand for gluten-free products, rising concerns about cardiovascular diseases (CVDs) caused by red meat intake, and robust expansion in the sports nutrition industry in North America are likely to boost the regional market over the forecast years.
The presence of significant meat producers like JBF, Tyson, National Foods, and Cargill in the United States is also anticipated to increase demand for pea protein as a texturizing agent in meat production. Furthermore, it is anticipated that the availability of grains as sources of protein will decline due to growing grain consumption for bio-based compounds like canola and soy. As a result, pea protein is anticipated to become essential.
Large global players control about ~15% of the market, some of the major players in the market include Roquette, Dupont, Glanbia Nutritionals, Ingredion, Scoular, Burcon, Shandong, Axiom, Cosucra, Sotexpro.
In September 2020, Roquette Fréres planned to build the biggest pea protein plant in the world in Portage la Prairie, Manitoba, Canada, which is a suburb of Winnipeg. The development of this new facility seeks to satisfy the rising demand for pea protein on a global scale.
Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of 2 working weeks.
According to this analysis, the Global Pea Protein Market was valued at US$ 350 million in 2017. it is estimated to be US$ 575 million in 2022 and is expected to reach a market size of US$ 1,100 million by 2028 growing at a CAGR of ~12% during the forecast period (2022-2028). The growth can be attributed to the rise in the number of vegans, the popularity of plant-based & gluten-free goods, and the nutritional advantages of products made from peas.
The market for pea proteins is predicted to increase as a result of consumers' increased focus on their health and the replacement of traditional meat products like sausages and patties with plant-based alternatives. The market for plant-based proteins is anticipated to develop over the course of the estimated period as the number of vegan and flexitarian consumers rises.
Due to growing consumer awareness of their health, consumption of a diet high in protein content has increased dramatically. Furthermore, due to hectic lifestyles, consumers are forced to look for nutrients in packaged food products because they are unable to regularly consume a nutritionally adequate diet. As a result, producers of packaged foods are adding protein and other nutrient-rich components to food products. The primary causes influencing the adoption of a protein-rich diet are the rising prevalence of chronic illnesses brought on by altered lifestyles.
Supply shortage is the main issue that pea protein producers must deal with. Agriculture is already being impacted by climate change, though the effects are unevenly spread worldwide. The yields of desired crops eventually decline as temperatures rise. Pulses, which are among the most affordable sources of protein, have seen a slight increase in price in the past few years.
Pea protein market was impacted by the COVID-19 pandemic outbreak. The implementation of lockdowns in international markets in 2020 initially had a big impact on the sales of several large stores in the food and beverage sectors. Sales declined over a short period. However, as the market for online food and grocery purchases grew in the middle of the 2020s, these sales quickly rebounded. The population continued to be under lockdown, which led to a stronger focus on healthy eating. Additionally, governments around the world worked to maintain food security in their nations and regions, which kept the food sector industries afloat.
Scope of the Report
The Pea Protein Market is segmented by Type, Nature, Source, Form, and Application. In addition, the report also covers market size and forecasts for the four region’s Pea Protein Markets. The revenue used to size and forecast the market for each segment is USD billion.By Type
- Isolates
- Concentrates
- Textured
By Nature
- Organic
- Conventional
By Source
- Yellow Spit Pea
- Chickpea
- Lentils
By Form
- Wet
- Dry
By Application
- Meat Substitutes
- Functional Foods
- Bakery Products
- Beverage
- Dietary Supplements
- Others
By Geography
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, Italy, France, Spain, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Indonesia, Rest of Asia Pacific)
- LAMEA (Latin America, Middle East, Africa)
Key Companies
- Roquette
- Dupont
- Glanbia Nutritionals
- Ingredion
- Scoular
- Burcon
- Shandong
- Axiom
- Cosucra
- Sotexpro
Key Trends by Market Segment
- By Type: The isolates segment held the largest market share in 2021, due to rising knowledge of the advantages of pea protein isolates and their high protein content
- Isolates are frequently utilized as nutritional supplements in meat products, energy drinks, fruit mixes, and bakery goods because of their excellent emulsification and non-allergic properties
By Nature: Organic segment held the largest market share in 2021, due to growing interest in organic products as a result of the popularity of clean-label products and the expansion of certified organic pea farm production.
Organic pea protein concentrate is made by isolating the protein fraction from the carbohydrate and fiber components of organic pea seeds. Concentrates made from organic pea protein are less processed than isolates. Typically, they range from 70% to 85% protein. Both dry and wet milling techniques are used to remove them from organic peas.
The need for natural products with fewer chemicals and additives is increasing the trend toward clean-label products, which is fuelling the expansion of the global organic pea protein market.
By Source: Yellow split peas segment held the largest market share in 2021, as they are the sources of peas mostly preferred by product manufacturers.
Yellow split peas are perfect for producing pea protein isolates due to their high protein content. Comparing them to alternatives made from dairy and meat, they are valued for their amino acid composition, which led to their classification as 'whole proteins.'
100 grams of yellow split peas provide 370 calories, 1 gram of fat, 67 grams of carbs (27 grams of fiber and 3 grams of sugar), 27 grams of protein, and 25% of the recommended daily allowance of iron.
By Form: Dry segment held the largest market share in 2021, primarily due to the low capital requirements, reduced energy and water usage compared to wet, and the significant demand for dry protein components from the food and beverage industry.
During dry processing, whole or dehulled peas are dried, ground, and milled. Protein and starch fractions are then separated depending on mass and various particle sizes using a spiral stream of air. Protein content in products created through dry processing ranges from 50 to 60 weight percent.
By Application: The meat substitutes segment held the largest market share in 2021, due to an increase in demand for plant-based food products will raise demand for meat alternatives.
The product has been utilized more frequently in recent years to create meat substitutes including burger patties and minced beef due to inexpensive processing costs and practical storage options. More people should employ isolates as a viable food for those who don't consume animal-based protein as consumer concerns about meat allergies grow. These factors are driving the demand for the product in the meat substitute application.
By Geography: North America accounted for the largest market share in 2021 of the global pea protein market, the main factors driving the global market are the rising vegan population, the rising demand for health & wellness products, and the rising consumption of processed meat products.
Growing demand for gluten-free products, rising concerns about cardiovascular diseases (CVDs) caused by red meat intake, and robust expansion in the sports nutrition industry in North America are likely to boost the regional market over the forecast years.
The presence of significant meat producers like JBF, Tyson, National Foods, and Cargill in the United States is also anticipated to increase demand for pea protein as a texturizing agent in meat production. Furthermore, it is anticipated that the availability of grains as sources of protein will decline due to growing grain consumption for bio-based compounds like canola and soy. As a result, pea protein is anticipated to become essential.
Competitive Landscape
The Global Pea Protein Market is highly competitive with ~200 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in the protein market.Large global players control about ~15% of the market, some of the major players in the market include Roquette, Dupont, Glanbia Nutritionals, Ingredion, Scoular, Burcon, Shandong, Axiom, Cosucra, Sotexpro.
Recent Developments Related to Major Players
In September 2021, Roquette Fréres established a brand-new center of competence. By concentrating just on plant protein, this center will broaden the range of opportunities in terms of food innovation, the discovery of novel proteins, and new manufacturing techniques.In September 2020, Roquette Fréres planned to build the biggest pea protein plant in the world in Portage la Prairie, Manitoba, Canada, which is a suburb of Winnipeg. The development of this new facility seeks to satisfy the rising demand for pea protein on a global scale.
Conclusion
The global pea protein market is forecasted to continue the exponential growth that is witnessed since 2019, due to expanding consumer awareness about the importance of eating a healthy diet and maintaining an active lifestyle. Though the market is highly competitive with ~200 players, few global players control the dominant market share and regional players also hold a significant market share.Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of 2 working weeks.
Key Topics Covered in the Report
- Snapshot of Global Pea Protein Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Pea Protein Market
- Historic Growth of Overall Global Pea Protein Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Pea Protein Industry
- Overview, Product Offerings, and Strength & Weakness of Key Competitors
- COVID-19 Impact on the Overall Global Pea Protein Market
- Future Market Forecast and Growth Rates of the Total Global Pea Protein Market and by Segments
- Market Size of Application Segments with Historical CAGR and Future Forecasts
- Analysis of Global Pea Protein in Major Regions
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Region
- Motif FoodWorks
- Shiru
- Plantible Foods
- Sproud
- Chinova Bioworks
Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report
- Pea Protein Companies
- Pea Protein Association
- Organic Food Association
- Snack Food Manufacturers
- Spreads and Ketchup Manufacturers
- Protein Foods Manufacturers
- Healthfoods Manufacturers
- Research & Development Institutes
- Government Ministries and Departments and Food Indusstry
- Food Research Organizations and Institutes
- Investment Banks Targeting Pea Protein Market
- Food Regulatory Authorities
Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
Frequently Asked Questions
What is the Study Period of this Market Report?
- The Global Pea Protein Market is covered from 2017-2028 in this report, which includes a forecast for the period 2022-2028
What is the Future Growth Rate of the Global Pea Protein Market?
- The Global Pea Protein Market is expected to witness a CAGR of about ~12% over the next six years
What are the Key Factors Driving the Global Pea Protein Market?
- Increasing demand due to consumer awareness of the health benefits of pea protein is driving the growth of the market
Which is the Largest Type Segment within the Global Pea Protein Market?
- Isolates held the largest market share of the Global Pea Protein Market in 2021
Who are the Key Players in the Global Pea Protein Market?
- Roquette, Dupont, Glanbia Nutritionals, Ingredion, Scoular, Burcon, Shandong, Axiom, Cosucra, and Sotexpro are the major companies operating in Global Pea Protein Market.
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Table of Contents
1. Executive Summary
2. Market Overview and Key Trends Impacting Growth
3. Total Global - Market Segmentation by Type, Historic Growth, Outlook & Forecasts
4. Total Global- Market Segmentation by Nature Historic Growth, Outlook & Forecasts
5. Total Global- Market Segmentation by Source, Historic Growth, Outlook & Forecasts
6. Total Global- Market Segmentation by Form, Historic Growth, Outlook & Forecasts
7. Total Global- Market Segmentation by Application Segment/Industry, Growth, Outlook & Forecasts
8. Industry/Competition Analysis - Competitive Landscape
9. Key Competitor Profiles (Company Overview, Product Offerings, SWOT Analysis)
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Roquette
- Dupont
- Glanbia Nutritionals
- Ingredion
- Scoular
- Burcon
- Shandong
- Axiom
- Cosucra
- Sotexpro
- Motif FoodWorks
- Shiru
- Plantible Foods
- Sproud
- Chinova Bioworks
