Market Overview:
The Pea Protein Market is valued at USD 951.86 Million in 2021 and is anticipated to reach USD 2352.71 Million over the forecast period 2028, at a CAGR of 13.8%.
Pea belongs to the legume family which includes peanuts, beans, lentils, and soybeans. Pea protein is extracted from green and yellow peas and it is used in some protein supplements and protein-based food products. In addition, pea protein contains all the essential amino acids required for the human body’s function. Pea protein helps to boost blood circulation, weight management, calcium absorption, improving muscle, and manage blood sugar. Pea protein is a pure vegan substance, lactose-free, and safe for those people who have allergies to dairy products and eggs.
Key Players in Global Pea Protein Market:
Dupont,The Scoular Company,Emsland Group,Puris Foods,Rouquette Freres,Cargill Incorporated,Fenchem Inc.,Burcon Nutrascience,Nutri-Pea Ltd.,Ingredian Inc.,Axiom Foods Inc.,The Green Labs LLC.,Sotexpro SA,Shandong Jianyuan Group,Martin and Pleasance,Cosucra Group and other major players.
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Market Driver:
Rising Demand for Plant-Based Protein Alternatives: The primary driver behind the growth of the Pea Protein Market is the rising demand for plant-based protein alternatives. With increasing awareness of health and sustainability, many consumers are seeking protein sources that are not derived from animals. Pea protein offers an attractive option due to its high protein content, allergen-friendly profile, and sustainable production process. It is used in a wide range of applications, including meat alternatives, dairy alternatives, sports nutrition, and more, catering to the diverse dietary preferences of consumers.
Market Opportunity:
Expansion of Application in Food and Beverage Industry: An important market opportunity lies in the expansion of pea protein’s application in the food and beverage industry. Pea protein can be incorporated into a variety of products, including plant-based meat substitutes, dairy-free products, baked goods, snacks, and beverages. As consumers continue to seek out plant-based and allergen-free options, there is significant potential for pea protein to be used in innovative product formulations. Companies that focus on creating high-quality, great-tasting food and beverage products using pea protein are likely to capture a growing market segment.
The Pea Protein Market offers opportunities for food manufacturers, dietary supplement companies, and ingredient suppliers to contribute to the development of sustainable and nutritious plant-based protein sources. By offering high-quality pea protein products and exploring innovative applications, companies can establish a strong presence in this dynamic market. As the demand for plant-based alternatives continues to grow, the Pea Protein Market is poised for sustained expansion.
Segmentation Of Pea Protein Market:
By Type
- Isolate
- Concentrate
- And Textured
By Form
- Dry
- Wet
By Source
- Yellow Splits Peas
- Lentils
- Chickpea
By Application
- Nutrition and Health Supplements
- Bakery and Confectionery
- Meat Products and Alternatives
- Cereals and Snacks
- Beverages
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Market Segment by Regions and Countries Level Analysis:
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
COVID-19 Impact Analysis of Pea Protein Market:
COVID-19 pandemic crisis adversely affected the pea protein market due to lockdown in the country to country, restriction for the economic activities, shut down of productions units, interruption in a transportation facility and limitation for workers in factories are responsible to affect market growth. However, growing awareness about plant-based food including protein other than animal-based protein has demand after the pandemic and has expected to continue in the forecast period. COVID-19 is providing unexpected growth to the plant-based protein industry.
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