Pea protein is a plant-based protein that is derived from yellow and green peas. They are widely used in protein supplements and various food applications. Pea protein is a rich source of essential amino acids that are required for the healthy functioning of the body. Consumption of pea protein enhances the blood circulation and calcium absorption in the body. Moreover, it also stimulates the healthy growth of the muscles.
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).
Drivers
Growing demand for gluten-free products along with the rising popularity of plant-based protein is primarily fueling the market growth of the pea protein. Rising demand for pea protein from dietary supplements and functional food and beverages is also expected to augment the market growth of the pea protein. Rising health awareness among consumers is propelling the demand for dietary supplements. All these factors are predominantly accelerating the market growth of pea protein.
Increasing awareness regarding the importance of consuming protein among vegan consumers is projected to foster the market growth. Growing demand for fortified food coupled with the increasing prevalence of various chronic disease such as diabetes and cardiovascular disease is also projected to augment the market growth of the pea protein. Moreover, growth in the food & beverage industry is further anticipated to surge the market growth.
Food being an essential commodity, the demand for food ingredients such as pea protein is expected to rise during the pandemic and post pandemic conditions, worldwide. Lockdown in various nations such as India, China and Spain, among others and cease in the subsequent trade activities has paralyzed the supply chain. Lockdown in various countries is expected to impact supply chain system of pea protein, which will hamper growth of pea protein market for short period.
Figure 1. Global Pea Protein Market Value Share (%), By Region, 2021
Market Restraints
Availability of low cost alternatives such as milk protein, egg protein, wheat protein, and soy protein which are widely used in dietary supplements is expected to hinder the market growth of pea protein.
Pea Protein is usually considered to have very less side effects. Nevertheless, the side effects associated with protein in powdered form have been challenging the industry’s growth. Pea protein in especially in powder form may contain high amount of sodium which may lead to health issues for those having a sodium-restricted diet. Consuming such kind of protein can lead to various side effects like weight gain, decreased kidney function and joint pain. Such factors are expected to hamper market growth over the forecast period.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 234.88 Mn |
| Historical Data for: | 2017-2020 | Estimated Year: | 2022 |
| Forecast Period 2022 to 2030 CAGR: | 10.4% | Forecast Period: | 2022-2030 |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Burcon Nutrascience, Cosucra Groupe Warcoing, Nutri Pea Limited, Sotexpro, Roquette Freres, Glanbia Plc., Fenchem Biotek Ltd., Prinova Group LLC, and Yantai Shuangta Food Co. |
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Market Trends
Increasing launch of meat substitute with high protein content is expected to be a major trend in the market of pea protein. For instance, in October 2019, Nestlé the world's largest food and beverage company launched Nestlé's Awesome Burger, a plant-based patty that looks and tastes like meat. Moreover, pea protein is also used in meat products as a texture improving agent in the meat processing. All these factors are projected to foster the market growth of the pea protein.
Figure 2. Global Pea Protein Market Value Share (%), By Application, 2021
On the basis of application in 2021, the dietary supplements segment has accounted the largest market share of 41.3% in terms of value, followed by bakery & snacks and beverages segment respectively.
Recent Developments
In Nov 2021, Roquette launched the world’s largest pea protein factory, strengthening its leading position in the worldwide alternative protein market. Roquette now has the world’s largest pea protein source, as well as some of the world’s greatest experts in producing novel plant-based meals.
In December 2019, Roquette, a French-based family owned company engaged in production of food products from the starch extracted from corn, wheat, potatoes and peas announced the expansion of its range of premium plant-based proteins for the meat alternative sector at Food Ingredients Europe (FIE 3-5 December 2019). Roquette adds two plant-based textured proteins, one from peas and one from fava beans.
In April 2022, Cargill, a private food corporation based in the U.S., is expanding RadiPure pea protein a product which offers solubility and flavour that customers need for food product development in the Middle East, Turkey, Africa (META), and India, as more people want to incorporate plant-based meals into their diets. This move will enable food and beverage industries in the market to adapt to changing market trends and capture a huge target market.
Competitive Section
Major players operating in the global pea protein market include Burcon Nutrascience, Cosucra Groupe Warcoing, Nutri Pea Limited, Sotexpro, Roquette Freres, Glanbia Plc., Fenchem Biotek Ltd., Prinova Group LLC, and Yantai Shuangta Food Co.
Pea protein is a food product and protein supplement derived and extracted from yellow and green split peas. Pea protein is a high-quality protein and a great source of iron. It is used for obesity problems, loose weight, and increase muscle strength. It is used as an ingredient in food manufacturing, such as a thickener, foaming agent, or an emulsifier.
Market Dynamics
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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