Market Highlights

The global pea protein market is expected to grow from USD 2.06 billion in 2023 to USD 6.50 billion by 2033 at a CAGR of 12.21%.

Pea Protein Market CAGR

2023-2033

CAGR OF

12.21%

Pea Protein Market

The market is rapidly growing as the popularity of meat substitutes, concerns regarding lactose intolerance among adults coupled with rising demand for gluten-free products is expected to drive the demand for the market. The nutrition science, thriving awareness about the benefits of protein, and growing demand for protein-rich diet, thus propelling the need for the market. Rising concerns regarding meat allergies and dairy are also expected to excel the demand for protein which strengthens the market in the near future however investing in this market will scale-up companies with a higher margin.

This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the market. The historic years considered for the study are 2018-2021, the base year is 2022, the estimated year is 2023, and the forecast period is 2023-2033.

Pea protein Market: Market Dynamics

Pea proteins are plant-based food products removed from yellow peas (Pisum Sativum). They have a neutral taste and can be added to dairy products such as cheese & yogurt, and to energy bars, veg burgers. They can be used in meat alternatives. Pea proteins are available in the form of protein concentrates, protein isolates, or in textured form. They offer a wide range of health benefits such as enhanced muscle strengths, enhanced immunity, anxiety reduction, cognitive function. Pea proteins can also be used to treat gastrointestinal disorders. Rising demand for protein-rich diet coupled with demand for increasing concerns about lactose intolerance is likely to propel the growth in the upcoming years.
Increased demand for meat protein alternatives coupled with various health benefits have further increased the demand for the market during the forecast period. Additionally, factors such as an increase in the food & beverage industry and also technological innovations in protein-based products, have further supplemented the market growth.

Lack of consumer awareness for the pea protein products in the overall food & beverage industry can acts as a hinderance to growth of the market.

Pea protein Market: Segmental Analysis

Pea Protein Market

By Form

Dry

Liquid

The Market will Grow

At the CAGR of:

12.21%

The Forecast Market

Size for 2033 in USD:

$6.50 B

Global pea protein market is classified by product, form, application, and region.
On the basis of product, the market is segmented into protein isolates, protein concentrates and textured protein. The protein Isolate segments accounted for the largest market share in 2023, which is anticipated to continue with its position by the end of 2033. It comprises of around 95% of protein content widely used in the sports nutrition industry. The dietary supplement application segment is projected to be the fastest-growing segment for protein isolates.

Pea Protein Market

By Product

XX%

Protein Isolates

Protein Concentrates

Textured Pea Protein

2.06

Total Market Size

USD (Billion), 2023

12.21%

CAGR

2023 - 2033

Based on form, the market is segmented into dry and liquid. The dry segment is mainly available in powdered form in the global market. The dry plant-based segment accounted for the largest market share in 2023, which is anticipated to continue its position by 2033.

Pea protein Market: Regional Analysis

Pea Protein Market

By Region

The Market will Grow

At the CAGR of:

12.21%

The Forecast Market

Size for 2033 in USD:

$6.50 B

The global pea protein market can be segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. North America contributed to the major market share in recent past years owing to increasing demand for meat alternatives due to growing cardiovascular diseases. Europe held the second largest market share followed by Asia-Pacific during the forecast period.

However, Asia-Pacific region is expected to exhibit fastest CAGR during the forecast period owing to increasing protein consumption, growing food & beverages industry coupled with rising hotels and restaurant industry in the region.

Pea protein Market: Competition Scenario 

Key players of the pea protein market Puris foods, Emsland groups, Dupont, Roquette Freres Le Romarin, A&B Ingredients, Burcon Nutrascience Corporation, Cosucra Groupe Warcoing SA, Glanbia, Plc., Nutri-Pea Limited, Sotexpro SA, Axiom Foods, Inc., Farbest Brands/Farbest-Tallman Foods Corporation, and Shandong Jianyuan Foods Co., Ltd

Critical Questions Answered in the Report

    What are the key trends in the market?
    How the market (and its various sub segments) has grown in the last four years and what would be the growth rate in the next five years?
    What are the key strategies adopted by the major vendors to lead in the market?
    What is the market share of the top players?

Research Methodology

The research study extensively uses both secondary and primary research methodologies. More than 200 industry leaders from various phases of the value chain (demand side, supply side, resellers/distributors, and other independent consultants) were interviewed to gain crucial insights about this market and validate the research findings. Secondary sources referred for the research study include company websites, annual reports, paid database tools, investor presentations, webinars, blogs, news/journals, whitepapers, survey papers, associations, and government websites. All the collected data and insights were then processed using our proprietary data mining software that executes various algorithms to make projections for the forecast period.

Pea Protein Market Scope: