Increasing demand for gluten-free goods, as well as the growing popularity of plant-based protein, are driving pea protein market expansion. Increasing demand for pea protein from nutritional supplements, functional foods, and beverages is also likely to boost pea protein market growth. The market is expected to rise as vegan customers become more aware of the need of protein consumption. During pandemic and post pandemic conditions period, demand for dietary components such as pea protein is predicted to increase. The availability of low-cost alternatives such as milk protein, egg protein, wheat protein, and soy protein, which are widely utilised in nutritional supplements, is projected to stymie pea protein market expansion. Pea Protein is generally thought to have little negative effects. Pea protein, particularly in powder form, may have a significant level of salt, which may cause health problems for people on a sodium-restricted diet. Eating this type of protein may result in weight gain, impaired renal function, and joint discomfort. Throughout the foreseeable period, such issues are likely to impede market growth.
According to Coherent Market Insights, Global Pea Protein Market was valued at US$ 234.88 Million in 2021 in terms of revenue, exhibiting a CAGR of 10.4% during the forecast period (2022 to 2030).
Key Companies in the Pea protein Industry:
1. Burcon Nutrascience
Burcon NutraScience Corporation, together with its subsidiaries, develops plant proteins and ingredients for use in the food and beverage industries in Canada. The company's products include Peazazz, a pea protein for use in dairy alternatives, ready-to-drink beverages, dry blended beverages, bars, baked goods, and meat substitute products The company was incorporated in 1998 and is headquartered in Vancouver, Canada.
2. Cosucra Groupe Warcoing
The company is Producer of food ingredients intended to improve the health and well-being of each and every one. The company's natural food ingredients are sourced from locally grown chicory and peas enabling food manufacturers to benefit from organic products. The company was founded in 1851, headquartered in Begium. In 15 Jul 2021 Cosucra received €10 million in a bond issue to strengthen its chicory and pea protein production capacity.