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The pea protein market size is projected to grow from USD 1.5 billion in 2024 to over $ 5.59 billion by 2035, representing a CAGR of 12.71%, during the forecast period 2024-2035.
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The new research study consists of industry trends, detailed market analysis, key market trends of the pea protein market, SWOT analysis and value chain analysis. Pea protein refers to a high-quality, plant-based protein that is obtained from yellow peas (Pisum sativum). It is widely utilized as a dietary supplement and food ingredient due to its nutritional profile, functional properties, and suitability for various dietary needs. Pea protein typically contains 80-85% protein by weight which makes it a rich source of protein. Protein from peas can be formed through dry and wet processes which come in a variety of products such as isolates, concentrates, and textured. Isolate is the most popular product as it is highly refined and contains a higher concentration of protein. With regard to this, the pea protein market is poised to experience exceptional growth in the coming years with a growing inclination toward a vegan diet and plant-based proteins around the world. According to a report, In 2023, 2.6 million people in Europe turned vegan, representing 3.2% of the European population and this trend continues in the rest of the world.
In this connection, in the past few years, the demand for plant-based protein has increased tremendously, creating new opportunities for the pea protein market. Another key factor behind the popularity of pea protein is the nutritional advantages of such protein like a good balance of essential amino acids, vitamins, and minerals such as iron, which is beneficial for overall health. Besides its nutritional profile, hypoallergenic, easy digestibility, vegan, vegetarian friendly, and sustainable features enhance its demand in the market Therefore, to leverage these opportunities, industry players are expanding their production capacities by investing in R&D to create new pea protein products with improved taste, texture, and nutritional profiles. Along with this, they are focusing on research efforts on enhancing the functional properties of pea protein, such as solubility, emulsification, and gelling, to broaden its application in various food products. As a result of the surge in demand for plant-based diets, the benefits of pea protein coupled with technological advancement, the pea protein market is anticipated to grow at a substantial CAGR over the forecast 2024-2035.
The market report presents an in-depth analysis of the various service providers that are involved in offering artificial general intelligence, across different segments, as defined in the table below:
| Key Report Attributes | Details | |
| Historical Trend | 2018-2023 | |
| Base Year | 2023 | |
| Forecast Period | 2024-2035 | |
| Market Size Value in 2024 | $ 1,500.62 Million | |
| Market Size Value by 2035 | $ 5,596.12 Million | |
| Growth Rate | CAGR of 12.71% from 2024 to 2035 | |
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| PowerPoint Presentation (Complimentary) |
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| Customization Scope | 15% Free Customization | |
| Excel Data Packs (Complimentary) |
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The global pea protein market is segmented into a variety of products, such as concentrates, hydrolysates, isolates, and textured. Based on the type of products, isolates obtain the largest share and is poised to lead the market segment over this forecast. Pea protein isolate generally contains around 85-90% protein. This high protein content makes it particularly appealing for use in nutritional supplements and protein-rich foods which attracts consumers seeking high-protein diets. Therefore, it is widely used for nutritional supplements, such as meat products, energy drinks, fruit mixes, and bakery items. Further, due to its emulsification and non-allergic characteristics it has become a popular choice in plant-based protein. Additionally, the growing trend of a vegan diet has significantly boosted the growth of the isolates segment which will continue to drive the market growth over this forecast period. Interestingly, the concentrates segment is anticipated to propel the market growth at a higher CAGR during the forecast 2024-2035. Unlike pea protein isolation which is separated from the starch and fiber fractions, concentrates are gained through dry and wet processes. It is used in various applications, such as bakery products, cereals, snacks, and pet food. Also, its affordability makes it accessible for broader use, and its good emulsification, water retention, and gelation properties enhance food texture and stability which is attributed to fuel the growth of the segment.
This segment highlights the type of form of the global pea protein market including gas, liquid, and solid. As per our projection, the solid form of the pea protein segment leads the market with the majority of the market share in terms of revenue. This dominance can be attributed to the increasing demand for pea protein in powdered form owing to its streamlined formulation process which makes it suitable for precise measurement and consistent distribution for food and beverage products. Also, its longer shelf-life, lighter weight, decreased volume, lower risk of spoilage, and reduced cost of transportation for manufacturers and consumers contribute to enhancing segment growth. Furthermore, liquid forms of pea protein, including juices and energy drinks are further augmenting the market growth at a significant CAGR throughout the forecast period.
Based on the type of source, the pea protein market is fragmented into chickpeas, lentils, yellow split peas, and others. As per market research, the yellow split peas segment acquires the maximum market share and is likely to dominate the segment during this projection period. Yellow split pea is primary segment in driving the market demand as it contains high protein, which makes it an ideal source of protein. Further, these legumes are not only rich in protein but also possess plenty of other nutritional benefits, including fiber, vitamins, and minerals which aid them in soaring the demand for plant-based protein sources. However, the chickpeas segment will drive the market at a higher CAGR due to their high protein content, rich fiber, and abundance of vitamins and minerals.
This segment underscores the different types of processing methods in the global market for pea protein. Based on the processing method, the market is split into dry processing methods and wet processing methods. According to our projection, the dry process segment holds the highest market share and will likely dominate the segment. This can be attributed to the advantages of the dry processing method that allows the production of a wide range of pea protein products, including concentrates and isolates, with varying protein content and functionality to suit different applications and consumer preferences. In addition, the dry processing method is anticipated to continue to drive the market at the fastest CAGR over this projection time frame owing to the rising demand for solid or dry forms of pea protein powder from end-user industries, including food and beverage.
The pea protein market has a wide range of applications, such as animal feed, bakery goods, beverages, dietary supplements, infant nutrition, meat substitutes, personal cosmetics, and others. Based on the application, the bakery goods segment is currently leading the pea protein market. The factors behind the dominance of this segment can be ascribed to the augmenting demand for plant-based protein from the bakery industry to manufacture protein brownies, cookies, superfood bites, diet truffles, and protein grazers. Moreover, the need to enhance nutritional value, meet evolving dietary preferences, utilize functional properties, cater to clean label demand, foster innovation, and address sustainability concerns are some other factors collectively contributing to fuel the demand for pea protein in the bakery sector. Additionally, the dietary supplements segment is projected to witness a higher growth rate due to growing awareness and adoption of fitness regimes and healthy lifestyles, which inflates demand for protein-rich supplements.
Based on the type of end-user, the global pea protein market is divided into animal feed manufacturers, food processors, households, and others. As per market review, the food processors end-user industry is anticipated to be a leading segment with the highest market share due to the rising demand for plant-based, allergen-free, and high-protein products. Its versatility, functional properties, and alignment with health and sustainability trends make it a crucial ingredient in various food applications, accelerating the pea protein market growth. Further, rise in veganism and vegetarianism is boosting the demand for plant-based protein supplements. Moreover, driven by such trends, the food processor industry is poised to experience a substantial growth rate in the coming years.
The global pea protein market is categorized into small, medium-sized enterprises (SMEs) and large enterprises. On the basis of company size, large size companies are dominating the pea protein market with their extensive resources, economies of scale, and global distribution networks. Further, their strategic partnerships and ability to comply with regulatory standards aid them to retain their leading position in the global marketplace. On the other hand, SMEs are projected to grow at a faster growth rate over this projection period. Small-sized companies are uplifting market growth in the pea protein industry through innovation, niche market targeting, and sustainability. Also, their local production, collaborations, and direct consumer engagement enhance their market reach which helps them expand the market reach.
The global market for pea protein features a wide range of distribution channels namely supermarkets / hypermarkets, specialty stores, online channels, pharmacies, and others. The supermarket and hypermarket segment is anticipated to obtain the majority of the market share and is likely to be a leading segment. This can be ascribed to the wide accessibility of supermarkets, consumer trust, higher product visibility, and integrated shopping experience. Coupled with market penetration, effective consumer engagement strategies contribute to enhancing the growth of the market. Nevertheless, online retail channels are projected to elevate the market growth at a substantial CAGR owing to their convenience, extensive product information, competitive pricing, wide variety, and accessibility. Along with this, the ability to easily compare products, read reviews, and benefit from promotional offers makes online shopping the preferred choice for many consumers.
This segment highlights the distribution of the pea protein market across various geographical regions. In terms of revenue, North America accounts for the largest market share in the global pea protein market. Several factors contribute to the region's dominance, including increasing health and wellness trends in the region. The growing trends, such as veganism, vegetarianism, and flexitarianism are leading factors in raising the demand for plant-based protein sources, including pea protein. Apart from this, innovation in food technology and product development, presence of established market players, consumer awareness, and robust distribution channels are extensively fostering market growth in North America.
Although, Asia Pacific is expected to rise at a higher CAGR in the coming decade due to the rising population and changing dietary preferences. The expanding food and beverage industry in nations, like China and India, which has a large consumer base, creates enormous opportunities for incorporating pea protein into a variety of products. Along with this, government initiatives in promoting sustainable agricultural practices, and encouraging the cultivation of peas as a protein-rich crop present significant opportunities for pea protein manufacturers in the region.
The “Pea Protein Market, Till 2035: Distribution by Distribution by Type of Product (Concentrates, Hydrolysates, Isolates, and Textured), Type of Form (Gas, Liquid , and Solid), Type of Source (Chickpeas, Lentils, Yellow Split Peas, and Others), Processing Methods (Dry Processing Method and Wet Processing Method), Type of Application (Animal Feed, Bakery Goods, Beverages, Dietary Supplements, Infant Nutrition, Meat Substitutes, Personal Cosmetics, and Others), End User (Animal Feed Manufacturers, Food Processors, Households, and Others), Distribution (Supermarkets/ Hypermarkets, Specialty Stores, Online Channels, Pharmacies, and Others), Company Size (Small and Medium-sized Enterprises (SMEs) and Large Enterprises), and Key Geographical Regions (North America, Europe, Asia, Latin America and Middle East and North Africa and Rest of the World): Industry Trends and Global Forecasts” report features an extensive study of the current market landscape, market size and future opportunity within the pea protein market report, during the given forecast period. The market report highlights the efforts of several stakeholders involved in this rapidly emerging segment of the service providers industry. Key takeaways of the pea protein market report are briefly discussed below.
The rising consumption of high-protein diets, particularly plant-based protein is a significant pea protein market trend driving the growth of this industry. This trend can be influenced by increasing awareness of health and fitness, and the need for rich protein diets. Due to busier lifestyles, consumers are increasingly adopting healthy diets and seeking convenience-packed food options rich in protein that promote overall wellness. Also, pea protein's role in muscle building and recovery is elevating the demand for plant-based protein as well as continuous innovation in product development has promoted a wide range of appealing sports nutrition products, such as protein powders, bars, and shakes. Consequently, the demand for a high-protein diet, versatile, easily digestible, and allergen-free protein sources, like pea protein is witnessing exceptional growth which will likely enhance the market outlook in the coming years.
The competitive landscape of the global pea protein market features small, mid-size and large-size companies. In terms of revenue, large-size companies stimulate market growth. Some of the leading market players are Cargill, Incorporated, Cosucra Groupe Warcoing SA, DuPont, Emsland Group, Fenchem and others. On the other hand, emerging startups and small-size companies are enhancing their capacity to innovate and efficiently produce high-quality pea protein products positioning them as strong competitors in the market and propelling growth and expansion on a global scale. Furthermore, by following the market trends from growing demand for pea protein, particularly for yellow split peas, stakeholders are employing strategic collaborations. Moreover, by leveraging the power of yellow split peas and other plant-based proteins, food manufacturers are entering into the growing market for plant-based and vegetarian products that cater to consumers who seek healthier and more sustainable dietary options.
In recent years, the pea protein market industry has witnessed notable growth and is flourishing primarily with the increasing preference for plant-based diets. The benefits of pea protein are surging the market demand as it is rich in essential amino acids, vitamins, and minerals, which makes it a popular choice for health-conscious consumers seeking high-quality protein sources. Apart from this, the expanding sports nutrition diet industry, coupled with technological advancements in food processing has enhanced the taste and texture of pea protein, broadening its applications in various food and beverage products. Additionally, the expanding vegan and vegetarian populations and substantial government and corporate investments in plant-based protein research and production facilities are the notable pea protein market drivers, fueling market expansion over this forecast.
With regard to regional insights, North America records a significant growth in the pea protein market with growing demand from the food and beverage industry due to rising adoption of the plant-based protein. Besides this, several other factors notably influence the pea protein market growth in the region, such as North America is known as a home to numerous companies and research institutions that are at the forefront of innovation in food technology and product development. Also, the region boasts a wide range of pea protein products, including meat alternatives, dairy substitutes, protein supplements, snacks, and baked goods. In addition to this, major food and beverage companies in the US such as Cargill, the Green Labs, and Ingredion, have robust production and distribution capabilities that significantly influence the market. Coupled with the region’s thriving ecosystem of startups and small to medium-sized enterprises that drive innovation and cater to niche markets contribute to the region’s dominance. For instance, in recent years, Ingredion, a leading global ingredient solutions provider, has invested significantly in expanding its pea protein production capabilities. Its team announced USD160 million investment through 2024 to expand and localize production capacity, aiming to meet increasing customer demand for specialty starches that enhance texture and offer label-friendly options for food and beverages.
Examples of key service providers involved in the pea protein market (which have also been captured in this market report, arranged in alphabetical order) include Axiom Foods, Burcon Nutrascience, Cargill, Incorporated, Cosucra Groupe Warcoing, DuPont, Emsland Group, Fenchem, Glanbia, Ingredion, Martin & Pleasance, Nutri-Pea, Roquette Freres, Shandong Jianyuan Group, Sotexpro, The Green Labs, The Scoular Company, and Yantai Shuangta Food. This market report includes an easily searchable Excel database of the companies who are engaged in offering pea protein, along with information on several relevant parameters.
The market report presents an in-depth analysis, highlighting the capabilities of various companies engaged in this domain, across different segments. Amongst other elements, the market report includes:
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