Pea Protein Market by Type, Form, Source, Application

List of Tables

[195 Pages Report] The Pea Protein Market size was estimated at USD 2.45 billion in 2023 and expected to reach USD 2.66 billion in 2024, at a CAGR 8.83% to reach USD 4.43 billion by 2030.

A pea protein is a high-quality, plant-based protein that is derived from yellow split peas. This form of protein has gained popularity in the nutrition and food industry due to its excellent amino acid profile, high digestibility, and sustainable production methods. Pea protein is often utilized as a key ingredient in various products, including protein supplements, meat substitutes, dairy alternatives, and baked goods, to cater to the dietary requirements of vegetarians, vegans, and individuals with certain food allergies or intolerances. Its versatility and nutritional benefits make pea protein an advantageous choice for consumers seeking plant-based dietary solutions. The increasing global pea production, the requirement for gluten-free products, and the growth in the consumption of canned and preserved foods propels the growth of the pea protein market. However, pea protein faces stiff competition from other plant-based and animal-based proteins. Growing consumption of protein-fortified functional foods offers opportunities for the expanding pea protein market.

KEY MARKET STATISTICS
Base Year [2023]	USD 2.45 billion
Estimated Year [2024]	USD 2.66 billion
Forecast Year [2030]	USD 4.43 billion
CAGR (%)	8.83%

Type: Increasing consumption of pea protein isolates owing to their high protein content

Pea protein concentrates are obtained through the processing of peas, specifically by dry or wet milling methods. The process focuses on removing most non-protein components, such as fibers, starches, and sugars, resulting in a protein-rich product yet retaining a certain level of carbohydrates and dietary fiber. Pea protein concentrates are often used in dietary supplements, animal feed, and as an ingredient in food products where a balance of protein enrichment and functionality is desired. Pea protein isolates have high protein content, which is approximately around 85-90%, To produce isolates, the protein is extracted and isolated from peas through a combination of grinding, centrifugation, and precipitation techniques, effectively reducing unwanted fats, carbohydrates, colors, and flavors. Isolates are characterized by their high purity, excellent amino acid profile, and enhanced digestibility. Their neutral flavor and solubility make them ideal for various applications, including nutritional supplements, plant-based meat substitutes, dairy alternatives, and sports nutrition products. Textured pea protein is produced by a process called extrusion, which involves applying heat and pressure to defatted pea flour or pea protein concentrates to alter their structure, thereby achieving a fibrous texture that closely mimics the mouthfeel of meat. Textured pea protein is highly valued in the food industry for its ability to retain water and fat, making it an excellent choice for creating meat alternatives, such as vegetarian burgers, sausages, and other plant-based meat products. Its versatility and functional properties offer product developers a remarkable tool in the growing vegetarian and vegan foods market.

Application: Widening adoption of pea protein beverages

Pea protein is highly valued in the beverage industry for its solubility, neutral taste, and nutritional profile. It is often incorporated into plant-based milk alternatives, protein shakes, and smoothies to enhance their protein content without altering the flavor significantly. Pea protein's ability to emulsify and stabilize liquids also makes it an ideal additive for non-dairy creamers and other functional beverages seeking to improve texture and nutritional value. Pea protein is a popular choice in developing meat extenders and analogs owing to its high protein content and the ability to mimic the texture of meat. It binds to veggie burgers, sausages, and nuggets, providing cohesion and moisture retention. Its sustainability and plant-based origin make pea protein appealing to consumers looking for environmentally friendly and healthier meat alternatives. As a nutritional supplement, pea protein offers a hypoallergenic, gluten-free, and vegan protein source, containing branched-chain amino acids and essential amino acids that support muscle repair and growth. It is commonly found in protein powders, bars, and capsules, catering to athletes, bodybuilders, and individuals with dietary restrictions or preferences for plant-based nutrition. Pea protein is increasingly used to fortify snacks, contributing to higher protein content and improved satiety. It is added to chips, crackers, and protein bars, offering a crunchy texture and nutritional enhancement. The neutral flavor profile of pea protein allows it to blend seamlessly into various snack formulations, supporting the trend toward healthier, protein-rich snack options. In bakery products, pea protein serves multiple functions, including improving the nutritional profile, texture, and moisture retention of goods such as bread, cookies, muffins, and pastries. The excellent water-binding capacity of pea proteins helps to maintain freshness over time.

Regional Insights

In the Americas, the United States and Canada are contributing to the growth of the pea protein market. The increasing trend towards vegan and plant-based diets and a growing awareness of lactose intolerance have significantly boosted consumer demand for pea protein products in these countries. Recent patents in the United States focus on improving pea protein-based products' taste, texture, and nutritional profile. The Asia Pacific region, particularly countries such as China, Japan, and India, presents a rapidly growing market for pea protein due to increasing disposable incomes and shifting dietary preferences towards vegetarianism and veganism. In China, the consumption and production of pea protein are supported by government policies favoring plant-based protein sources to ensure food security. India's market is burgeoning, driven by a traditionally vegetarian population looking for high-quality protein sources. In response to the increasing requirement for functional foods, Japan is innovating by integrating pea protein into its traditional cuisine, which further aligns with global health trends and opens new avenues for using pea protein in culturally rich and diverse Japanese culinary practices. The research and development efforts in the EMEA region emphasize taste improvement, allergen-free products, and sustainability. European Union countries, driven by environmental concerns and a robust health-conscious population, have witnessed significant growth in the demand for pea protein. Innovations and investments are predominantly observed in improving product applications in meat substitutes, dairy alternatives, and sports nutrition. In the Middle East and Africa, evolving lifestyles and a growing inclination towards plant-based diets present significant opportunities for the pea protein market.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Pea Protein Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Pea Protein Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Pea Protein Market, highlighting leading vendors and their innovative profiles. These include AGT Food and Ingredients, Aminola B.V., Avanschem, Axiom Foods, Bioway (Xi'an) Organic Ingredients Co., Ltd., Burcon Nutrascience, Cosucra, ETChem, Farbest-Tallman Foods Corporation, Gemef Industries SA, Glanbia PLC, Greenway Organics (Tianjin) Co., Ltd., Ingredion Incorporated, Kerry Group, Koninklijke DSM N.V., Maxsun Industries, Inc., Now Foods, Phyto-Therapy, PURIS, Roquette Freres, Sotexpro, STDM Food And Beverages Private Limited, Sun Nutrafoods, The Green Labs LLC, The Scoular Company, and Titan Biotech.

Market Segmentation & Coverage

This research report categorizes the Pea Protein Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Concentrates
- Isolates
- Textured

Form
- Dry
- Wet

Source
- ChickPea
- Lentils
- Yellow Split Pea

Application
- Beverages
- Meat Extenders & Analogs
- Nutritional Supplements
- Snacks Bakery Products

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Pea Protein Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Pea Protein Market?

3. What are the technology trends and regulatory frameworks in the Pea Protein Market?

4. What is the market share of the leading vendors in the Pea Protein Market?

5. Which modes and strategic moves are suitable for entering the Pea Protein Market?

Product Code: MRR-030EE48515A4

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Escalating demand for plant-based proteins from vegetarians, and vegans
  - 5.1.1.2. Increasing awareness of lactose intolerance issues among populations
- 5.1.2. Restraints
  - 5.1.2.1. High cost of production associated with pea protein
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing research and development activities aiming to improve the sensory attributes and reduce production costs
  - 5.1.3.2. Increasing focus on innovation and development of better pea protein and product
- 5.1.4. Challenges
  - 5.1.4.1. Supply constraint due to limitation in productivity
5.2. Market Segmentation Analysis
- 5.2.1. Type: Increasing consumption of pea protein isolates owing to their high protein content
- 5.2.2. Application: Widening adoption of pea protein beverages
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Pea Protein Market, by Type

6.1. Introduction
6.2. Concentrates
6.3. Isolates
6.4. Textured

7. Pea Protein Market, by Form

7.1. Introduction
7.2. Dry
7.3. Wet

8. Pea Protein Market, by Source

8.1. Introduction
8.2. ChickPea
8.3. Lentils
8.4. Yellow Split Pea

9. Pea Protein Market, by Application

9.1. Introduction
9.2. Beverages
9.3. Meat Extenders & Analogs
9.4. Nutritional Supplements
9.5. Snacks Bakery Products

10. Americas Pea Protein Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Pea Protein Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Pea Protein Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Louis Dreyfus Company Announces the Construction of a Pea Protein Production Plant in North America
- 13.3.2. Danone Canada's Silk Launches Innovative Plant-Based Yogurt Made with Canadian Pea Protein
- 13.3.3. EnWave and PIP International Sign Commercial License Agreement to Produce Best-In-Class Pea Protein Isolate Products
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio