Pea Protein Market: Global Trends, Insights, And Forecast For 2024-2030

Published: 2024-07-24
Views: 46
Author: nandini123
Published in: Food & Drinks

Pea Protein Market Growth or Demand Increase or Decrease for what contains?

The Pea Protein Market is experiencing notable growth, driven by several key factors. The increasing demand for plant-based protein sources, particularly among health-conscious consumers and those following vegetarian or vegan diets, is a major driver. Pea protein is valued for its high nutritional profile, including essential amino acids and its hypoallergenic properties, which make it a popular choice for people with dietary restrictions or allergies. Additionally, the rise in awareness about sustainable and eco-friendly food production methods is contributing to the growth of pea protein, as it is considered a more environmentally sustainable alternative compared to animal-based proteins. The expansion of the functional foods and beverages sector, with products such as protein bars, shakes, and dairy alternatives incorporating pea protein, further supports market growth. Innovations in pea protein processing technologies, which improve taste and texture, are also enhancing its appeal and application in various food products. Despite challenges such as fluctuating raw material prices and competition from other plant-based proteins, the overall trend indicates a positive trajectory, driven by evolving consumer preferences and increasing demand for plant-based protein solutions.

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Pea Protein Market CAGR Estimation: 

The Pea Protein Market size was valued at USD 592.95 Million in 2023 and the total Pea Protein Market revenue is expected to grow at a CAGR of 12.02% from 2024 to 2030, reaching nearly USD 1312.05 Million.

Pea Protein Market Segmentation:

by Type

Isolates
Concentrates
Textured

With over 58% of the entire revenue generated by the pea protein market, the isolates segment held the lion's share of the market in 2023. The yellow pea protein isolate, which is generally obtained from peas grown in North America or Europe, is the main focus of the isolates segment, which frequently makes up the greatest portion. To produce protein from pea isolate, the outer shell of the pea is typically removed in accordance with standard food industry processes before the pea is ground into flour. The other ingredients, such as fiber and starch, are removed by a second filtration procedure. This leaves behind a white precipitate, which is then distilled to create pea protein isolate, which is then used to make protein powder. Notably, the industrial manufacturing procedure used to produce pea protein isolate sets it unique from conventional pea protein.

by Source

Split yellow peas
Lentils
Chickpeas

by Application

Meat substitutes
Performance nutrition
Functional foods
Snacks
Beverages

by Form

Dry
Wet

The wet segment held the biggest market share for pea protein in 2023 and is predicted to expand at the fastest rate of compound annual growth (CAGR) from 2024 to 2029. Wet pea protein is used in baked foods, meat products, and confections as a texturizing agent. Wet pea protein's fibrous nature is also anticipated to encourage its integration into fruit juice blends and energy supplements.

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Pea Protein Market Overview:

The Maximize Market Research report assists clients in gaining a comprehensive understanding of the competitive landscape, serving as a valuable resource for strategic planning purposes. The comprehensive Pea Protein market overview furnishes extensive information regarding market size, trade statistics, prominent participants, and a range of market indicators, encompassing aspects such as life cycle, prevailing trends, and more.

Pea Protein Market Growth or Demand in which regions??

The Pea Protein Market is experiencing growth across several key regions, with significant demand in North America, Europe, and Asia-Pacific. In North America, particularly the United States and Canada, the market is driven by a rising trend towards plant-based diets, increasing health consciousness, and a growing number of consumers seeking alternative protein sources. The region's robust food and beverage industry is incorporating pea protein into a variety of products, including protein bars, shakes, and dairy alternatives. Europe also shows strong growth, with countries like Germany, the United Kingdom, and France leading the way due to increasing consumer preference for vegan and vegetarian diets, as well as a focus on sustainable and environmentally friendly food sources. The demand for pea protein in Europe is further supported by innovations in food technology and a growing range of plant-based food products. In the Asia-Pacific region, countries such as China and India are emerging markets with expanding interest in plant-based proteins due to rising health awareness and dietary changes among growing middle-class populations. Additionally, the region's increasing focus on sustainable agriculture and alternative food sources is contributing to the market's expansion. Overall, these regions are playing a crucial role in the global growth of the Pea Protein Market, reflecting a broad and diverse demand driven by shifting consumer preferences and advancements in food technology.

Pea Protein Market Scope & Methodology:

The competitive landscape of the Pea Protein market encompasses aspects like technology adoption, financial strength, portfolio, mergers and acquisitions, joint ventures, and strategic alliances. A comprehensive report delves into the drivers, limitations, opportunities, and challenges inherent in the Pea Protein market. The report employed a bottom-up approach to ascertain Pea Protein market estimations and growth rates.

To gain insights into Pea Protein market penetration, pricing dynamics, demand analysis, and competitive panorama, the report executed regional analysis at local, regional, and global levels. Essential details about the Pea Protein market, including stakeholders, investors, and new entrants, are presented to facilitate the development of marketing strategies and investment plans.

Both primary and secondary data gathering techniques were employed for the Pea Protein Market. Primary approaches involved surveys, questionnaires, and interviews with industry leaders and business proprietors, while secondary data encompassed sources like press releases, annual and financial reports, white papers, etc. SWOT analysis was leveraged to pinpoint market vulnerabilities and weaknesses, while the PORTER framework was applied to gauge industry competitiveness within the Pea Protein Market.

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Pea Protein Market Key Players:

Major Pea Protein Providers in North America:

1. DuPont (United States)
2. Ingredion (United States)
3. Puris (United States)
4. The Scoular Company (United States)
5. Burcon (Canada)
6. AGT Food and Ingredients (Canada)
7. The Green Labs LLC. (United States)
8. Axiom Foods, Inc. (United States)
9. Farbest Brands (United States)

Leading Pea Protein Manufacturers in Europe:

1. Roquette Frères (France)
2. Cosucra Groupe Warcoing SA (Belgium)
3. Cosucra (Belgium)
4. Sotexpro (France)
5. Emsland Group (Germany)
6. Glanbia PLC (Ireland)
7. Kerry (Ireland)

Key Players of Pea Protein Market in APAC:

1. Yantai Shuangta Foods Co., Ltd (China)
2. Shandong Jianyuan Group (China)
3. ET-Chem (China)
4. Shandong Xiangchi Jianyuan Bio-Tech Co., Ltd. (China)
5. Fenchem Biotek Ltd. (China)
6. Shandong Huatai Food (China)
7. Shuangta Food (China)
8. Shandong Oriental Herbest Bio-Tech Co., Ltd. (China)
9. Fencol Corporation (China)

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Key questions answered in the Pea Protein Market are:

• What is Pea Protein?
• What is the growth rate of the Pea Protein Market?
• Which are the factors expected to drive the Pea Protein market growth?
• What are the different segments of the Pea Protein Market?
• What are the factors restraining the growth of the Pea Protein Market?
• What is the demand pattern of the Pea Protein Market?
• What major challenges could the Pea Protein Market face in the future? 

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Key Offerings:

• Past Market Size and Competitive Landscape
• Past Pricing and price curve by region
• Market Size, Share, Size & Forecast by different segment |
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation – A detailed analysis by segment with their sub-segments and Region 
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective 

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