Pea protein was gaining popularity in the food and beverage industry as a plant-based protein source. It’s commonly used in various products, including plant-based meat alternatives, protein bars, snacks, and dietary supplements. The pea protein industry is driven by factors such as the increasing demand for plant-based protein, rising awareness about health and wellness, and the growing number of people adopting vegetarian and vegan diets. At a CAGR of 11.9% from 2022 to 2027, the global pea protein market size was estimated to be worth $1.7 billion in 2022 and $2.9 billion by the end of 2027.
Here are some key points related to the global pea protein market:
- Growing Demand for Plant-Based Proteins: The demand for plant-based proteins has been increasing globally, driven by factors such as health consciousness, ethical considerations, and environmental sustainability. Pea protein has been recognized as a sustainable and eco-friendly protein source.
- Nutritional Benefits: Pea protein is known for its nutritional profile, including being rich in essential amino acids and having a high digestibility rate. It is also allergen-free, gluten-free, and non-GMO, making it suitable for a wide range of consumers.
- Applications in the Food and Beverage Industry: Pea protein is used in various food and beverage applications, including meat substitutes, dairy alternatives, sports nutrition products, and baked goods. Its functional properties, such as emulsification and gelling, make it versatile in different formulations.
- Market Players: Several companies are involved in the production and distribution of pea protein. Some well-known players include Roquette Frères, Cosucra Groupe Warcoing, Ingredion, Axiom Foods, and Puris.
- Research and Development: Ongoing research and development activities in the field of plant-based proteins aim to improve the taste, texture, and overall quality of pea protein-based products. This includes efforts to address challenges such as off-flavors and gritty textures.
Global Pea Protein Market Driver: Growing consumer awareness about nutritional benefits offered by pea and pea-based products
Pea protein powder is being popularly used to manufacture protein shakes, smoothies, and energy drinks to increase the protein content and is an excellent fit for almost any diet since it is naturally vegan and hypoallergenic. It is a great source of iron and high-quality protein. It is also estimated to help muscle growth, weight loss, and heart health. The protein from peas, mainly yellow peas, has been shown to lower cholesterol and blood pressure while gentle on the kidneys. All these benefits of pea proteins are expected to drive the growth of the global pea protein market.
By mode of application, the food segment is projected to account for the largest pea protein market share.
The growing demand for meat substitutes has aided the growth of pea protein, which is now used in the production of plant-based burger patties and sausages. The use in performance nutrition has also grown significantly, as factors such as lactose intolerance have led to athletes substituting vegan protein alternatives such as pea proteins for whey protein. Meat substitutes, performance nutrition, functional foods, snacks, and bakery are all part of the food segment. The meat substitutes segment dominated the food application segment due to the rising application of pea proteins, making it healthier and more popular among customers.
The Yellow Split Pea in the segment by source is projected to account for the largest pea protein market share over the forecast period.
Yellow split peas are one of the most popular pea sources among product manufacturers. This is due to peas functionality and adaptability to different product types, which is driving demand for yellow split peas in a variety of products such as plant-based meat, beverages, functional foods, and performance nutrition. Yellow split peas high protein content makes them ideal for producing pea protein isolates. They are valued for their amino acid profile, which has led to their classification as “whole proteins” when compared to dairy and meat-based alternatives. 100g of yellow split pea contains 370 calories, 1 gramme of fat, 67 grammes of carbohydrates (27 grammes of fibre, 3 grammes of sugar), 27 grammes of protein, and 25% of the RDA of iron.
The key players global pea protein market include Rouquette Freres (France), DuPont (US), Glanbia PLC (Ireland), Kerry (Ireland), Ingredion (US), Puris (US), Emsland Group (Germany), Yantai Shuangta Foods Co., Ltd (China), The Scoular Company (US), Burcon (Canada), Shandong Jianyuan Group (China), ET-Chem (China), AGT Food and Ingredients (Canada), The Green Labs LLC. (US), and Axiom Foods, Inc. (US). These players in this market are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.