Pea Protein Market Size Worth $6,650.63 Million By 2032 | CAGR: 12.8%

The global Pea Protein market size is expected to reach USD 6,650.63 Million by 2032, according to a new study by Polaris Market Research. The report “Pea Protein Market Share, Size, Trends, Industry Analysis Report, By Form (Wet, Dry); By Source; By Product; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Pea, a leguminous plant, contains significant protein content in its seeds (20–30%), primarily in the form of globulins, the principal constituents in Pea Protein Isolate (PPI) products. Pea protein can be obtained through wet-milling and dry-milling technologies, with protein content varying from 48% to 90%. Key functional properties of Pea Protein Isolate (PPI) and concentrates include nutritional benefits, oil-binding capacity, water-binding capacity, foam stability, foam expansion, whip ability, emulsion stability, gelatin, and emulsion ability ratio.

The global trend towards increased protein consumption, fueled by growing health consciousness, has led to a surge in demand for nutrient-rich diets. Modern lifestyles often hinder individuals from maintaining a consistently well-rounded diet, prompting a reliance on packaged foods fortified with essential nutrients, including proteins. The escalating prevalence of chronic diseases, lifestyle changes, and a burgeoning fitness culture, particularly among millennials, are pivotal drivers for the widespread adoption of protein-rich diets. Additionally, addressing issues of child malnutrition in African nations, mainly attributed to protein deficiencies, has heightened the focus on incorporating protein-rich ingredients like pea into diets, further propelling demand.

The COVID-19 pandemic significantly disrupted global industrial production due to widespread lockdowns in major economies, impacting the manufacturing, production, and transportation of various goods worldwide. Despite these challenges, the food & beverage and pharmaceutical industries remained resilient and unaffected by the pandemic. The global demand for food & beverages and nutritional supplements experienced a notable increase since January 2020.

Trade restrictions led to temporary suspensions of logistics operations in major regions, causing disruptions in the international supply chain. However, manufacturing activities resumed globally in the second quarter of 2020, contributing positively to the overall recovery. The prevailing economic uncertainty has prompted food companies and ingredient manufacturers to defer their investment and expansion plans. These factors are expected to have a short-term adverse impact on the ingredients industry.

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Pea protein isolates (PPI) and concentrates (PPC) are commercially produced from defatted peanut flour using various techniques. This protein type is poised for significant growth in the forecast period, driven by its increasing popularity among diverse end-users, including vegans, vegetarians, and individuals with allergies to egg and dairy proteins. Extracted from both green peas and yellow split peas, the protein from green peas is characterized as cholesterol-free, low in fat and gluten, and hypoallergenic. Lysine, an essential amino acid not produced by the human body, is abundant in this protein, making it a valuable supplement. Additionally, the protein is rich in arginine and lysine, making it a crucial ingredient in infant formulations, and it aids in converting fatty acids into energy, contributing to reduced cholesterol levels in the body.

Pea Protein Market Report Highlights

• The Isolates segment dominated the revenue share in 2023. Isolates are widely utilized as nutritional supplements in various applications, including meat products, fruit mixes, energy drinks, and bakery items, owing to their favorable emulsification properties and non-allergenic characteristics. The expected growth in the sports nutrition sector, especially in developed nations like the U.S., Germany, and the UK, propelled by the introduction of new products like Amway and Cadbury in the energy mix segment, is anticipated to drive increased demand for isolates.
• The Dry segment held the highest market share throughout the forecast period. Processed through dry methods to create concentrates and isolates, pea protein exhibits heightened protein concentration, enhanced functionality, extended shelf life, and convenient handling and storage. These qualities make it highly attractive to both manufacturers and consumers seeking efficient protein sources. The powdered form of dry pea protein allows for seamless integration into various food applications without compromising texture or taste, ensuring prolonged shelf life and stability with its low moisture content. Additionally, its ease of handling and storage, coupled with its clean label appeal and alignment with the growing demand for plant-based protein alternatives, solidifies its market dominance.
• North America emerged as the leading market in 2023, driven by robust consumer demand for plant-based products, a thriving food and beverage industry, and abundant agricultural resources in the form of yellow split peas. The U.S. pea protein market is undergoing substantial expansion, propelled by the rising popularity of plant-based diets and meat alternatives. According to a 2021 survey by Sprouts Farmers Market, nearly half of Americans (47%) identify as flexitarians, favoring plant-based meals over meat. Key industry players, including Nutri-Pea, Burcon, and Roquette, have played a significant role in enhancing the availability and quality of pea protein in the U.S. market.
• The global key market players include Axiom Foods, Inc., Burcon Nutrascience, Cosucra Groupe Warcoing SA, DuPont, Fenchem, Inc., Ingredion, Inc., Martin & Pleasance, Nutri-Pea, Roquette Freres, Shandong Jianyuan Group, Sotexpro SA, The Green Labs LLC,  The Scoular Company.

Polaris Market Research has segmented the Pea Protien market report based on form, source, product, application, and region:

Pea Protein, Form Outlook (Revenue - USD Million, 2019 - 2032)

• Wet
• Dry

Pea Protein, Source Outlook (Revenue - USD Million, 2019 - 2032)

• Others
• Yellow Split Peas

Pea Protein, Product Outlook (Revenue - USD Million, 2019 - 2032)

• Hydrolysates
• Textured
• Concentrates
• Isolates

Pea Protein, Application Outlook (Revenue - USD Million, 2019 - 2032)

• Animal Feed
• Personal Care & Cosmetics
• Food & Beverages
  • Meat substitutes
  • Bakery goods
  • Dietary supplements
  • Beverages
  • Others

Pea Protein, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Pea Protein Market Report Scope