According to the latest research report, the demand of global Pea Protein Market size & share was valued at approximately USD 217.7 Million in 2020 and is expected to reach a value of around USD 519.0 Million By 2028, at a compound annual growth rate (CAGR) of about 12.0% during the forecast period 2021 to 2028.
Pea protein is an extract from green and yellow peas and food manufacturers use this protein in some protein supplements and protein-enriched foods like energy bars, meal-replacement shakes, veggie burgers, and even cereals. all the essential amino acids available in the pea protein helps to improve blood circulation and calcium absorption, do weight management, boost metabolism, maintain healthy muscle, and regulate blood sugar. Growing preference for vegetarian and plant-based diets has increased the demand for pea protein because it is 100% vegan and lactose-free.
The protein is also safe for people with allergies or sensitivities to dairy and eggs. Rising opportunities in emerging markets and the increasing launching of pea protein-based products are creating significant growth opportunities for pea protein manufacturers. The protein is also extracted from various types of pea varieties, including dry, green, and chickpeas, available in concentrates, textured, and isolates forms. These products are non-toxic, non-allergic, and easily digestible.
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Key Benefits of Buying the Report:
- Comprehensive coverage and analysis of the global pea protein market
- Competitive landscape of major players and their developments in the global pea protein market
- Identifying high-potential opportunities
- Identifying and targeting high-growth application segments
- Potential & niche segments and regions exhibiting promising growth
- Recent industry trends and developments
Top Market Players:
- Axiom Foods Inc.
- Burcon NutraSciences
- The Scoular Company
- Roquette Freres
- Warcoing SA
- Cosucra Groupe
- Nutri-Pea Limited
- Sotexpro SA
- Ingredion Inc.
- Puris Protein LLC
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Frequently Asked Questions About the Market:
- What is the estimated value of the global pea protein market?
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- How will the market development trends change in the forecast period from 2021-to 2028?
Pea Protein Market: Growth Driving Factors
The increasing worries over cardiological impacts associated with red meat consumption are enhancing the importance of a flexitarian diet, which is expected to promote the global pea protein market growth. Growing awareness associated with the adverse effects of foods containing gluten and lactose is expected to remain a favorable factor for increasing the product demand over the forecast years. Moreover, the rising consumption of use of protein-fortified functional foods may lead to an increase the product demand. Many food & beverage companies are launching new products due to rising demand for protein supplementation in food products which is anticipated to positively affect the market growth. In addition, the increasing awareness about protein powder consumption for encouraging e-health and muscle growth is also expected to enhance the market growth over the forecast period.
Pea Protein Market: Report Scope
|
Report Attribute |
Details |
|
Market Size 2020 Value |
USD 217.7 Million |
|
Market Outlook for 2028 |
USD 519.0 Million |
|
Expected CAGR Growth |
12.0% from 2021 – 2028 |
|
Base year |
2020 |
|
Forecast period |
2021 – 2028 |
|
Segments covered |
By Product, By Form, By Application, By Region |
|
Key Companies |
Axiom Foods; Inc.; Burcon NutraSciences; The Scoular Company; Roquette Freres, Warcoing SA; Cosucra Groupe, Nutri-Pea Limited; Sotexpro SA; Ingredion Inc.; and Puris Protein LLC |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Customization Options |
Customized purchase options are available to meet your research needs. |
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Pea Protein Market: Key Segmentation
Insights by-product, form, application, and geographic region
Based on the form segment, the dry segment of the pea protein market dominated the market with the largest market revenue share in 2020. The dominance can be attributed to its use in the processing of health supplements, bakery, and meat products. These factors are anticipated to fuel the segment’s growth. The liquid pea protein segment is likely to register a lucrative growth rate over the forecast period. Significant consumption of sports drinks, other nutritional beverages in key developed countries such as Germany, France, and the UK are likely to fuel the segment’s growth. On the basis of application, the dietary supplements market segment accounted for the largest market share. The bakery goods segment is anticipated to witness a lucrative growth rate. In addition, the meat substitutes segment is projected to show the least growth over the pea protein study period.
In 2020, North America accounted for the largest market revenue share of 44% in the global pea protein market. The key drivers in this region involve increasing demand for gluten-free products, growing concerns regarding Cardiovascular Diseases (CVDs) due to red meat consumption, and increasing growth of the sports nutrition industry. Europe is the second-largest market for the pea protein industry, attributing to the increasing cases of metabolic disorders and rising consumer preference towards plant-based food. The Asia Pacific is anticipated to be the fastest-growing regional market over the assessment period owing to a significant rise in consumption of functional foods in key emerging economies of India, China, and South Korea. The booming hotel and restaurant industry coupled with retail chains in supermarkets are additional factors fueling the region’s growth.
Browse the full “Pea Protein Market Share, Size, Trends, Industry Analysis Report, By Product (Concentrates, Isolates, Textured, Hydrolyzed, HMEC/HMMA); By Form (Dry, Liquid); By Application (Meat Substitutes, Bakery Goods, Dietary Supplements, Beverages, Others); By Regions; Segment Forecast, 2021 – 2028” Report at https://www.polarismarketresearch.com/industry-analysis/pea-protein-market
The pea protein market is primarily segmented on the basis of product, form, application, and geographic region.
Pea Protein Market: By Product Outlook
- Concentrates
- Isolates
- Textured
- Hydrolyzed
- HMEC/HMMA
Pea Protein Market: By Form Outlook
- Dry
- Liquid
Pea Protein Market: By Application Outlook
- Meat Substitutes
- Bakery Goods
- Dietary Supplements
- Beverages
- Others
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