Yellow Pea Protein Market by Type (Pea Protein Isolate, Pea Protein Concentrate, Pea Flour), Source Process (Conventional, Organic), Processing Method (Dry, Wet), Application (Nutritional Supplements, Meat Alternatives) - Global Forecast to 2029

The Yellow Pea Protein Market is expected to reach $1.09 billion by 2029, at a CAGR of 15.8% during the forecast period of 2022 to 2029. The growth of this market is driven by factors such as the rising interest in plant-based nutrition, increasing health & wellness trends, growth in the plant-based food market, rising consumer awareness about the nutritional benefits offered by pea and pea-based products, and increasing development of innovative pea protein ingredients by key players.

Furthermore, growing opportunities in emerging markets and increasing launches of pea protein-based products are expected to provide significant growth opportunities for players operating in this market. However, the significant preference for animal-based protein hinders the growth of the yellow pea protein market to a notable extent.

Impact of COVID-19 on the Yellow Pea Protein Market

The trend of healthy eating has gained traction in recent years, driving the formulation of healthy food products. Yellow pea proteins are emerging as a driving ingredient in the formation of dairy and meat alternatives and health supplements due to their high protein content with other nutritional qualities and comparatively low price than other novel proteins. Furthermore, the outbreak of the COVID-19 pandemic has resulted in an increased demand for new and sustainable dietary practices that offer immunity-boosting benefits. Thus, the yellow pea protein-based food industry is witnessing a rapid surge in demand for immune-boosting products.

The COVID-19 outbreak made people re-evaluate their diets, and consumers started transitioning to healthier diets to build immunity. The demand for pea protein products increased significantly amidst the pandemic, subsequently driving the growth of the yellow pea protein market. This increase in demand is attributed to factors such as the shortage of meat and processed meat products in various regions, a rise in demand for plant-based products, and consumers’ inclination toward a healthier lifestyle.

According to the International Food Information Council’s (IFIC) 2020 Food and Health Survey, 41% of the participants increased plant-based protein consumption, and 28% of respondents consumed more plant-based meat alternatives. Nearly 70% of consumers preferred protein from plant sources. Thus, the rising demand for pea protein-based products is expected to boost the growth of the yellow pea protein market.

However, many manufacturers expect to witness short-term COVID-19 impacts, such as the slowdown in new product launches, lower sales in restaurants & cafeterias, supply chain disruptions, and investment dependency.

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Rising Consumer Awareness About the Nutritional Benefits of Pea and Pea-Based Products Drives the Growth Of the Yellow Pea Protein Market

Over the past decade, there has been an increased demand for protein alternatives. The yellow pea protein market has witnessed significant growth in recent years due to the health benefits of yellow pea protein consumption and the increasing number of health-conscious consumers worldwide.

Although animal-based and soybean proteins continue to dominate the global protein ingredients market, pea protein has gained immense popularity in recent years. The rising interest in pea protein is attributed to the benefits of pea protein consumption over animal protein or other plant-based protein sources, including sustainable production, low allergenicity, and health benefits. Furthermore, a growing number of millennial consumers are looking for simpler labels, appetizing products, and alternative protein sources to accommodate personalized nutritional choices, which is expected to accelerate the growth of the yellow pea protein market.

Nutritionally, yellow pea proteins are an excellent source of lysine, antifungal bioactive peptides, dietary lectins, and other health-promoting properties. Pea protein contains all the essential amino acids and helps improve blood circulation and calcium absorption, manage weight, stimulate metabolism, maintain muscle health, and regulate blood sugar levels. Furthermore, the functionality of pea protein has increased its demand in the past decade. The physical and chemical properties of pea protein can significantly influence the performance in food processing, storage, and consumption. The major functional properties of pea protein are water & oil binding capacity, foam expansion, foam stability, gelation, emulsion stability, and emulsion ability ratio.

The yellow pea protein market has been registering high growth due to the increased demand for vegan and vegetarian protein ingredients sources. Manufacturers are focusing on innovative products and technology through extensive research & development to improve product quality. Moreover, the increasing number of lactose-intolerant consumers drives the demand for alternative protein ingredients sourced from milk derivatives.

Key Findings in the Yellow Pea Protein Market Study:

In 2022, the Yellow Pea Protein Isolate Segment is Estimated to Account for the Largest Share of the Yellow Pea Protein Market

Based on type, the yellow pea protein market is segmented into yellow pea protein isolate, yellow pea protein concentrate, yellow textured pea protein, yellow pea protein hydrolysate, yellow pea flour, and other yellow pea proteins. In 2022, the yellow pea protein isolate segment is estimated to account for the largest share of the yellow pea protein market. The large market share of the yellow pea protein isolate segment is attributed to its high protein content and high emulsification & stability properties. Furthermore, yellow pea protein isolate has several application areas, including high-performance nutrition and snack products, contributing to its increased demand. This segment is also expected to grow at the highest CAGR during the forecast period due to increasing demand from plant-based product manufacturers.

In 2022, the Conventional Yellow Pea Protein Segment is Estimated to Account for the Largest Share of the Yellow Pea Protein Market

Based on source process, the yellow pea protein market is segmented into conventional yellow pea protein and organic yellow pea protein. In 2022, the conventional yellow pea protein segment is expected to account for the largest share of the yellow pea protein market. This segment's large market share is attributed to the advantages offered by conventional yellow pea protein over organic yellow pea protein, such as lower costs, longer shelf life, and the availability of substantial crop varieties. However, the organic pea protein segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the growing demand for organic products, the rising trend of clean label products, and the increasing number of certified organic pea-producing farms.

In 2022, the Dry Processing Method Segment is Estimated to Account for the Largest Share of the Yellow Pea Protein Market

Based on processing method, the yellow pea protein market is segmented into dry processing and wet processing. In 2022, the dry processing segment is estimated to account for the largest share of the yellow pea protein market. Dry processing requires lower capital and water & energy consumption compared to wet extraction, which contributes to the large market share of this segment. Additionally, the high demand from food & beverage manufacturers further drives the growth of this segment. However, the wet processing segment is slated to register the highest CAGR during the forecast period. Wet processing offers higher purity than the dry processing method, contributing to the increased demand for wet processing, subsequently driving the market growth of this segment.

In 2022, the Powder Segment is Estimated to Account for The Largest Share of the Yellow Pea Protein Market

Based on form, the yellow pea protein market is segmented into powder and liquid. In 2022, the powder segment is estimated to account for the largest share of the yellow pea protein market. The large market share of this segment is attributed to the higher demand for solid protein ingredients due to their benefits such as ease of handling & transportation, cost-effectiveness, minimal to zero formulation errors, and ingredient stability. However, the liquid segment is slated to register the highest CAGR during the forecast period. The growing demand for liquid yellow pea proteins from the dairy alternative industry and their increasing applications in innovative products drive the growth of this segment.

In 2022, the Nutrition & Health Supplements Segment is Estimated to Account for the Largest Share of the Yellow Pea Protein Market

Based on application, the yellow pea protein market is segmented into nutrition & health supplements, meat & alternative meat products, bakery products, dairy & dairy alternatives, cereals & snacks, beverages, pet food, and other applications. In 2022, the nutrition & health supplements segment is estimated to account for the largest share of the yellow pea protein market. The large market share of this segment is attributed to factors such as the rising incidence of diseases due to improper nutrition, the benefits of pea protein in additional nutrition & sports performance products, and growing health & wellness trends. However, the meat & alternative meat products segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to growing veganism and the rising incidence of meat-borne diseases.

Asia-Pacific: Fastest-growing Regional Market

Based on geography, in 2022, North America is expected to account for the largest share of the yellow pea protein market. However, Asia-Pacific is slated to register the highest CAGR during the forecast period. The growth of this regional market is driven by the growing awareness about the importance of protein-rich diets coupled with increasing health consciousness among the general population, the booming food & beverage industry, the large vegan population, and the increasing number of pea protein-based product launches.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading players operating in the yellow pea protein market between 2019 and 2022.

The key players profiled in the yellow pea protein market study are Roquette Frères Le Romain (France), AGT Food and Ingredients Inc. (Canada), Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), Archer-Daniels-Midland Company (U.S.), E.I. Dupont 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:

Yellow Pea Protein Market, by Type   

• Yellow Pea Protein Isolate
• Yellow Pea Protein Concentrate
• Textured Yellow Pea Protein
• Yellow Pea Protein Hydrolysate
• Yellow Pea Flour
• Other Yellow Pea Proteins

Yellow Pea Protein Market, by Source Process                      

• Conventional Yellow Pea Protein
• Organic Yellow Pea Protein

Yellow Pea Protein Market, by Processing Method                 

• Dry
• Wet

Yellow Pea Protein Market, by Form               

• Powder
• Liquid

Yellow Pea Protein Market, by Application

• Nutrition & Health Supplements
• Meat & Alternative Meat Products
• Bakery Products
• Dairy & Dairy Alternatives
• Cereals & Snacks
• Beverages
• Pet Food
• Other Applications

Yellow Pea Protein Market, by Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Latin America
• Middle East & Africa

Key questions answered in the report: