The demand for pea protein is growing as new technology is emerging, there is an increase in sustainable practices, and there are shifts in consumer behaviors.
Developments in the Pea Protein Sector:
In May 2024, Puris and Cosucra, along with other pea protein manufacturers, achieved new certifications for organic and non-GMO ingredients ensuring compliance with global food labeling laws and enhancing consumer confidence.
In March 2024, Roquette attempted to increase the effectiveness of extraction, purification, and solubility of protein. Roquette has been focusing on developing methods and systems to increase the extraction purity of protein within dry fractionation of pea protein isolates. Furthermore, these methods will boost the availability of high-purity, non-hydrolyzed pea protein isolates for food and other industries.
In March 2024, Beyond Meat has expanded its offering in plant-based proteins by introducing a new line of products like plant-based chicken as a response to increased demand for clean label vegan options that are high in protein.
In March 2024, Cargill launched an improved, highly bioavailable, and higher amino acid micellar pea protein formula aimed at athletes and fitness lovers in the sports nutrition markets.
In January 2024, Ingredion put into practice a novel method of processing pea proteins that is more eco-friendly because it saves a significant amount of water as compared to conventional techniques.
Impact of Recent Developments on the Pea Protein Industry
As per the Coherent Market Insights (CMI), the global pea protein industry is projected to reach USD 511 million by 2030, growing at a CAGR of 9.1% from 2023 to 2030. These trends are poised to change the future of the industry.
Improved Methods of Extraction: The new extraction technology developed by Roquette has made it possible to improve the quality of pea protein to a level where it competes on equal terms with traditional protein sources in plant-based food and beverage products.
Expanded Range of Firm’s Offerings: The change in customer tastes and preferences is also reflected in Beyond Meat’s entrance into chicken substitutes using pea protein. This opens up new business opportunities for many companies and promotes further innovation in meat and dairy replacers.
Enhanced Efforts on Sustainable Practices: Ingredion’s processing and other engineering changes in the business yield savings in resource consumption, which directly benefits the industry’s sustainability initiatives. This undeniably lowers the cost of production as well as fulfills customer expectations for sustainable food production.
Expansion of the Sports Nutrition Sector: The launch of new sports-oriented formulations of pea protein by Cargill makes it possible to satisfy the needs of athletes and active lifestyle consumers who seek high-quality plant-based protein, fueling new growth in the industry.
Greater Industry Trust and Compliance: The new certifications from leading pea protein manufacturers focus on bolstering consumer trust and regulatory compliance. Organic or non-GMO brands enable a company to stand out with their labels in a very competitive marketplace.
Sustained Growth in the Pea Protein Industry
The growth prospects of the pea protein industry remain robust as companies continue to invest in research and development, broaden the scope of product usage, and commit to eco-friendly business practices. The ever-growing consumer appetite for plant-based protein-rich foods and sustainable products will ensure that the industry meets these demands while self-regulating and improving product standards.
