The Pea Protein Market is expected to reach $1.14 billion by 2029, at a CAGR of 15.7% during the forecast period of 2022 to 2029. In terms of volume, global pea protein market is expected to grow at a CAGR of 12.7% from 2022 to 2029 to reach 4.68 million tons by 2029.
Some of the major factors driving the growth of this market include rising interest in plant-based nutrition, growing health and wellness trend, increasing plant-based food market, rising consumer awareness regarding nutritional benefits offered by pea and pea-based products, and accelerated focus of key players on the development of innovative pea protein ingredients.
Additionally, growth opportunities in emerging markets and the increasing launching of pea protein-based products provide significant growth opportunities for pea protein manufacturers. However, a significant preference for animal-based protein hinders the growth of this market to some extent. On the other hand, consumer preference for other plant protein over pea protein poses a challenge to pea protein manufacturers.
COVID-19 Accelerating Pea Protein Transition
The outbreak of the COVID-19 pandemic significantly affected the food & beverages sector. The pandemic disrupted travel, manufacturing, services, healthcare, and supply chains, negatively impacting the global financial markets. Although the world has begun to transition towards normalcy, some parts of the world are still struggling due to the emergence of new variants and new COVID-19 cases.
In the food and beverage sector, the coronavirus crisis caused people to re-evaluate their diets because it has underlined the link between food and health. In the pea protein industry space, COVID-19 provided an unexpected boost, resulting in accelerated demand for products with pea protein. The growing demand for pea protein was largely driven by a shortage of meat and processed meat products in various regions, growing uncertainty regarding meat consumption during the pandemic, and a growing inclination toward a healthier lifestyle.
Numerous pea manufacturers are focusing on the continuity of business and developing life-sustaining food, health supplements, and superfoods in an effort to provide customers with products comprising high nutritional values amidst the COVID-19 pandemic. At the beginning of the COVID-19 pandemic in the first half of 2020, it was difficult for manufacturers to supply their products for F&B companies and source peas for further processing. The supply chain for pea protein was disrupted completely. Consumers only purchased essential products such as groceries, medicines, and fruits and vegetables. But now, companies have started operating gradually to fulfill the demand for pea-based protein. Despite the expanded cases of COVID-19 in the U.S., the U.S. pea industry continued to operate at nearly full capacity. The U.S. Department of Homeland Security (DHS) classified the food and agriculture sectors as essential infrastructure and the U.S. Department of Agriculture (USDA) continued working to ensure access, resources, and safety.
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Accelerated Focus of Key Players on Development of Innovative Pea Protein Ingredients
Pea proteins are one of the promising ingredients for food & beverage design as it impacts the nutritional and technological properties when added into food products. Pea proteins are emerging as a popular alternative to conventional proteins, such as animal, wheat, and soy protein, due to their high protein content and stimulating functionality, sustainability, availability, affordability, and hypo-allergenicity. A key success factor in pea processing is ensuring the extraction process has the right balance of gentleness and effectiveness. This process ensures the purity of the end-product while achieving maximum yield.
The purification or extraction process separates the protein and non-protein parts of the mixture and separates the desired protein from all other proteins. At the same time, it is necessary to minimize energy and water consumption, not just for the environmental effects but also for cost control. Pea protein ingredients can be obtained through wet extraction, dry fractionation, or mild fractionation. Commercial pea protein ingredients include flour (20–25% protein), concentrate (50–75% protein), and isolate (>80% protein). Besides protein content, these ingredients differ in their chemical composition, thereby affecting their functionality.
As the market for pea proteins evolves, ingredient manufacturers and suppliers are seeking strategies to differentiate their ingredient portfolios. For instance, in November 2021, Roquette (France) opened a pea protein processing plant in Manitoba, Canada, to meet the surging global demand for alternative protein. This 200,000 square-foot plant has a processing capacity of 125,000 tons of yellow peas annually.
Similarly, in December 2020, Cargill (U.S.) launched pea protein under its European ingredients portfolio. This development was focused on helping European food & beverage manufacturers meet the increasing demand for nutritious and plant-based products. Cargill’s pea protein offerings, which include RadiPure and Puris, are designed to meet the functional and sensory challenges in alternative emerging applications. The company’s pea protein is marketed with high solubility, emulsification, and foaming capacities. Cargill’s offerings are formulated to provide a minimum of 80% protein
Furthermore, in March 2019, Ingredion, Inc. (U.S.) launched its Vitessence Pulse 1803 pea protein isolate for use in applications, such as nutrition and sports bars, alternative meat and dairy products, powdered and ready-to-drink beverages, and baked foods and baking mixes. The ingredient is characterized by a creamy texture and a flavor low in raw and green notes, according to Ingredion. The ingredient contains a minimum of 80% protein.
In October 2018, DuPont Nutrition & Health, a DowDuPont Specialty Products Division business, has added new pea protein ingredients to its Trupro product range. The new ingredients contain more protein and less sodium than previous offerings, and they come in an array of formats and textures for use in applications, such as nutrition bars, snacks, and cereal. The Trupro range features pea protein ingredients that are 70% protein (dry basis) and non-G.M.O./non-bioengineered. The Trupro 1670 pea protein nuggets have a firm texture and oval shape, and the Trupro 1673 pea protein nuggets come in an irregular flake-like shape that may be blended in formulations with high grain, nut, or seed content.
The launching of these advanced ingredients is an important step for the growth of the manufacturers and also provides lucrative opportunities to stakeholders in the pea protein space. These advancements in pea protein ingredients offer multiple benefits to all stakeholders by offering high-functioning, organic pea proteins with a safe and reliable supply, enabling customers to create high-protein products that meet consumer expectations.
Consumer Preference for other Plant Protein over Pea Protein Challeneges the Pea Protein Market Growth
Alternative protein sources such as soy and wheat are generally accepted and are widely available. The exceptional nutritional and functional properties of these established proteins have historically contributed considerably to food systems. These proteins have multiple uses in food production, providing desirable flavor, texture, and ease of formulation. Thus, it can be challenging for manufacturers to find every replacement with pea protein for other plant protein ingredients. These have also emerged as the most funded category within the plant protein space, raising more than 70% of total funding for plant-based protein as of January 2021. For instance, in 2019, plant-based companies in the U.S. raised nearly USD 750 million, or 90% of the total funding for alternative protein sources.
Furthermore, the growing expansion activities by leading players to increase their respective shares in the plant-based protein market are expected to hinder the growth of the pea protein market. For instance, in February 2020, Archer-Daniels-Midland Company (U.S.) expanded the production of non-GMO soy protein concentrate at its facility in Europoort (Netherlands). This expansion was aimed at meeting the significant growing demand for high-quality plant-based proteins in the European market. Similarly, in October 2019, Cargill expanded its integrated soybean crush and refined oils facility in Sidney, Ohio, by investing USD 225 million to better serve area farmers and to meet the growing demand for protein and refined oils. Such expansions by leading players showcase the potential for the traditional plant protein market.
The wider usage of soy and wheat protein is primarily attributed to factors, such as higher consumer acceptance rate, the presence of a large number of manufacturers and their large scale of production, lower costs than pea protein, easy availability of raw materials, and their large number of applications in various industries, including meat, dairy alternative, and bakery industries. These factors are expected to pose a challenge to the growth of the global pea protein market.
Key Findings in the Global Pea Proteins Market Study:
The pea protein isolates segment is estimated to account for the largest share of the pea protein market
Based on type, the pea protein market is divided into pea protein isolates, pea protein concentrates, textured pea protein, pea protein hydrolysate, pea flour, and other pea proteins. Pea protein isolates are estimated to account for the largest share of the global pea protein market in 2022. The large share of this segment is mainly attributed to its high protein content and high emulsification and stability properties of isolates and increased application areas such as high-performance nutrition products and snack products. Pea protein isolates typically have a protein content of over 75%. However, pea protein hydrolysate segment is expected to grow at the fastest CAGR during the forecast period due to increasing demand from plant-based product manufacturers.
The yellow pea segment is estimated to account for the largest share of the pea protein market
Based on the source, the pea protein market is segmented into yellow pea and green pea. In 2022, the yellow pea protein segment is estimated to account for the largest share of the global pea protein market. Yellow split peas are an excellent source of plant-based protein, healthy carbs, fiber, and important nutrients. Due to their versatility is adopted by a wide array of applications in the food & beverage industry. Yellow peas are also among the key constituents for pea protein isolates. They are adapted for use in multiple food formats, including plant-based burgers and pea milk.
The organic pea protein segment to grow at the highest CAGR during the forecast period
Based on the source process, the pea protein market is segmented into organic pea protein and conventional pea protein. The conventional pea protein segment is estimated to account for the largest share of the overall pea protein market in 2022. However, the organic pea protein segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the growing demand for organic products with the rising trend of clean label products and the increasing number of certified organic pea produce farms. The trend of clean label products is growing as consumers opt for natural products, which have fewer chemicals and additives, driving the growth of the global organic pea protein market. Consumers in developed markets pay more attention to the product's specifications, including grass-fed, no hormones, no antibiotics, and organic.
The dry processing segment is estimated to account for the largest share of the pea protein market
Based on the processing method, the pea protein market is segmented into dry and wet. In 2022, the dry processing segment is estimated to account for the largest share of the global pea protein market. The large share of this segment is mainly attributed to low capital requirement, lower energy, and water consumption compared to wet extraction, and high demand for dry protein ingredients from food and beverage manufacturers. Dry processing occurs upon drying, grinding, and milling whole or dehulled peas, separating protein and starch fractions based on mass and different particle sizes with a spiral stream of air. The products derived by using dry processing have a protein content between 50 to 60 wt%. However, the wet processing segment is expected to grow at the highest CAGR during the forecast period. This process helps obtain higher yield and purity than the dry processing method.
The liquid segment is to grow at the highest CAGR during the forecast period
Based on form, the pea protein market is segmented into dry and liquid. In 2022, the dry segment is estimated to account for the largest share of the overall pea protein market. Several factors include low bulk weight, usage conveniences, diverse applications, relatively high stability, and the possibility of a high production rate increases the demand for the dry form of protein ingredients. However, the liquid segment is expected to grow at the highest CAGR during the forecast period. In product manufacturing, the liquid form helps to improve viscosity, mouthfeel, product stability, texture, pleasant taste, and better visual aspect.
The meat and alternative meat products segment to grow at the highest CAGR during the forecast period
Based on application, the pea protein market is segmented into nutrition and health supplements, meat and alternative meat products, bakery products, dairy and dairy alternatives, cereals and snacks, beverages, pet food, and others. The nutrition and health supplements segment is estimated to account for the largest share of the global pea protein market in 2022. The large share of this segment is mainly attributed to increased demand for nutritious food to overcome the diseases due to improper nutrition/protein deficiency; benefits of pea protein in additional nutrition and sports performance segment; and health and wellness trend.
However, the meat and alternative meat products segment is expected to witness rapid growth during the forecast period. The direct consumption of pea protein in meat substitute or meat alternatives has been increasing over the years because of the global shortage of animal protein, growing consumer preference for meat substitutes considering the risk of animal disease contamination from meat products, strong demand for wholesome and religious (halal) food, and increasing veganism.
Asia-Pacific provides a lucrative opportunity for the pea protein market
Geographically, the pea protein market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, North America is estimated to account for the largest share of the overall pea protein market. North America’s prominent position in the pea protein market is primarily attributed to the well-established food and beverage industry, rising concerns over animal products and protein, increasing vegan population, growing preference for meat alternatives, increasing demand for healthy & nutritional products, huge pea production, and large presence of pea protein manufacturers.
However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The rapid growth of this region is mainly attributed to the increasing protein-rich diet awareness, increasing health consciousness, booming food & beverages industry, rapid urbanization, a large base of vegan population, and increasing new product launches containing pea protein.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key strategic developments the leading market participants adopted in the pea proteins market. The key players operating in the global pea protein market are Roquette Freres Le Romarin (France), AGT Food and Ingredients Inc. (Canada), Cargill, Incorporated (U.S.), Ingredion Inc. (U.S.), Archer Daniels Midland Company (U.S.), E.I. Du pont de Nemours and Company (U.S.), Axiom Foods Inc. (U.S.), Burcon NutraScience Corporation (Canada), Glanbia Plc. (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest Brands (U.S.), Shandong Jianyuan Foods Co., Ltd. (China), The Emsland Group (Germany), and Nutri-Pea Ltd. (Canada).
Scope of the report
Pea Protein Market, by Type
- Pea Protein Isolates
- Pea Protein Concentrates
- Textured Pea Protein
- Pea Protein Hydrolysate
- Pea Flour
- Others Pea Protein
Pea Protein Market, by Source
Pea Protein Market, by Source Process
- Conventional Pea Protein
- Organic Pea Protein
Pea Protein Market, by Processing Method
Pea Protein Market, by Form
Pea Protein Market, by Application
- Nutrition And Health Supplements
- Alternative Meat Products
- Bakery Products
- Dairy And Dairy Alternatives
- Cereals And Snacks
- Beverages
- Pet Food
- Others
Pea Proteins Market, by Geography
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Middle East and Africa
Key questions answered in the report:
