Pea Protein Market (2024 - 2030) Size, Share & Trends Analysis Report By Product (Isolates, Concentrates), By Form (Dry, Wet), By Source, By Application (Food & Beverages, Animal Feed), By Region, And Segment Forecasts

Pea Protein Market Summary

Pea protein, a high-quality protein source, is gaining popularity among vegetarians, vegans, and health-conscious consumers. It is free from common allergens such as soy and gluten, making it a suitable option for people with dietary limitations.

The global rise in vegan and vegetarian lifestyles is significantly reshaping consumer preferences, leading to a surge in demand for plant-based alternatives. Pea protein is a versatile ingredient increasingly used in meat substitutes, from meat substitutes and dairy alternatives to functional foods. The growing number of vegan restaurants, cafes, and product launches catering to this demographic is increasing the demand for pea protein. Additionally, the rising importance of a flexitarian diet due to increasing concerns about the cardiological impacts of red meat consumption and growing awareness regarding the adverse effects of foods containing gluten and lactose drives market growth.

Innovations in food processing technologies have improved pea protein's taste, texture, and functionality, making it more demanding to manufacturers and consumers. These developments have led to its incorporation in a wider range of products, from plant-based meats and dairy alternatives to snacks and baked goods. The ability to customize pea protein formulations to meet specific dietary needs or consumer preferences further drives its market growth. For instance, Danone Canada launched Silk Greek-Style Yogurt, a plant-based yogurt made with pea protein from Canada. It is available in Key Lime and Vanilla flavors with 12 grams of protein per 175g serving.

Product Insights

Isolates segment dominated the market with a revenue share of 49.9% in 2022. Pea protein isolates are rich in essential amino acids, particularly branched-chain amino acids (BCAAs), necessary for muscle growth and recovery. They also contain high levels of iron and are easily digestible, making them a suitable option for health-conscious consumers. The increasing focus on fitness, weight management, and overall wellness increases the demand for high-quality protein sources such as pea protein isolates. Additionally, their benefits for heart health, muscle maintenance, and growth further drive consumer interest.

The textured segment is expected to witness significant growth over the forecast period. Textured pea protein plays a crucial role as a texturing agent in various food products, including meat products, baked goods, and confectionery items. Its fibrous content further enhances its potential application in energy powders and fruit juice mixes. Its versatility, functionality, sustainability, and nutritional profile make it a suitable ingredient for developing meat analogs or extenders.

Form Insights

Dry segment accounted for the largest revenue share in 2023. The dry processing methods used to produce pea protein concentrates and isolates produce a more concentrated protein product, making it suitable for manufacturers and consumers seeking efficient protein sources. This stability allows for easy storage and transportation, making it ideal for various applications, including protein powders, snack bars, and meal replacements. The convenience of dry pea protein aligns with the busy lifestyles of modern consumers who seek quick and easy ways to meet their nutritional needs.

The wet segment is expected to witness significant growth over the forecast period. Wet pea protein, available as a paste or slurry, offers convenience for food manufacturers as it is directly incorporated into various food products without rehydration or additional processing. This form is particularly useful in producing plant-based meat analogs, dairy alternatives, and other processed foods where moisture content and consistency are crucial. The ease of integration into manufacturing processes makes wet pea protein convenient for food producers looking to streamline their operations.

Source Insights

The yellow split peas segment accounted for the largest revenue share in 2023. Their high protein content and essential nutrients, including fiber, vitamins, and minerals, make them ideal for pea protein extraction. Additionally, they are widely available, ensuring a consistent supply. Yellow split peas also have favorable functional properties and a neutral flavor, making them versatile for various food applications. Consumer familiarity and acceptance of yellow split peas contribute to their prominence in the market.

Others segment is expected to witness significant growth over the forecast period. The increasing demand for plant-based proteins drives the diversification of protein sources, with chickpeas and lentils emerging as prevalent alternatives in the pea protein market. Consumers are pursuing variety in their plant-based diets, and chickpeas and lentils offer unique nutritional profiles that complement those of peas. This diversification is essential as the market for plant-based proteins continues to grow, with consumers looking for new and innovative ingredients that provide health benefits, sustainability, and versatility.

Application Insights

The food & beverages segment dominated the market in 2023 due to the increasing consumer demand for plant-based and vegetarian/vegan options. Pea protein's functional properties, nutritional benefits, and versatility make it a preferred ingredient for enhancing various food and beverage product's texture, stability, and nutritional profile. Pea proteins offer several functional benefits in bakery applications, including water holding, gelation, and increased browning, particularly in gluten-free applications.

The personal care & cosmetics segment is expected to witness significant growth over the forecast period owing to the rising demand for natural and plant-based ingredients, vegan and cruelty-free product preferences, and the skin and hair benefits pea protein offers. Consumers increasingly seek natural and plant-based ingredients in their personal care and cosmetics. Pea protein, derived from plant sources, fits into the growing clean and sustainable beauty trend. Its natural origin and perceived benefits drive its demand in the market.

Regional Insights

The North America pea protein market accounted for the largest revenue share of 33.1% in 2023. Major regional retailers and food chains have identified the growing demand for plant-based products, leading to increased shelf space and product offerings featuring pea protein. The widespread availability of these products in supermarkets, health food stores, and online platforms has made it convenient for consumers to access and try pea protein-based products. Additionally, the food service industry, including restaurants, cafes, and fast-food chains, increasingly offers plant-based options to cater to consumers' growing preferences, further boosting the demand for pea protein.

U.S. Pea Protein Market Trends

The U.S. pea protein market accounted for the largest revenue share in 2023. Consumers are becoming more aware of the potential health benefits of plant-based proteins, such as improved cardiovascular health, better weight management, and reduced risk of chronic diseases. Pea protein is considered a healthier alternative to animal-based proteins, as it is low in fat, cholesterol-free, and rich in essential amino acids. Additionally, pea protein is hypoallergenic, making it suitable for people with allergies or sensitivities to common proteins such as dairy, soy, or gluten. The growing focus on health and wellness increases the demand for pea protein.

Asia Pacific Pea Protein Market Trends

Asia Pacific pea protein market is expected to witness the fastest CAGR over the forecast period. Consumers in the region are increasingly shifting towards vegetarian, vegan, and flexitarian lifestyles, driven by health concerns, environmental awareness, and ethical considerations. This shift is rising in urban areas where awareness of plant-based nutrition is higher, and the availability of plant-based products is more extensive, resulting in increasing demand for alternative protein sources such as pea protein. The popularity of plant-based diets has led to an increase in product launches featuring pea protein, including meat substitutes, dairy alternatives, and protein supplements, fueling market growth.

The China pea protein market accounted for the largest revenue share in 2023. With the increasing focus on fitness and lifestyles, a growing demand for high-quality protein sources supports muscle growth, recovery, and overall performance. The demand for pea protein is rising due to its high content of branched-chain amino acids, which are essential for muscle repair and growth. Additionally, pea protein is easily digestible, making it a preferred choice for athletes and fitness enthusiasts looking for alternative protein sources such as whey or soy. The expanding range of sports nutrition products that feature pea protein, including protein powders, shakes, and bars, contributes to market growth.

Europe Pea Protein Market Trends

The Europe pea protein market is expected to witness significant growth over the forecast period. High-profile celebrities, athletes, and influencers promoting plant-based diets and fitness routines influence consumer choices and increase the visibility of pea protein products. Documentaries and social media campaigns emphasizing plant-based diet's health benefits and environmental impact also contribute to the growing demand for pea protein. This increased visibility is expanding plant-based consumption and encouraging more consumers to try pea protein products, contributing to the overall market growth.

The UK pea protein market accounted for the largest revenue share in 2023. The food service industry in the UK is increasingly incorporating plant-based options into its menus to cater to the rising demand for healthier, sustainable, and allergen-friendly foods. Restaurants, fast-food chains, and cafes are introducing pea protein-based dishes, such as plant-based burgers, bowls, and smoothies, for health-conscious diners and those with dietary restrictions. This trend is rising in metropolitan areas with high consumer awareness of plant-based nutrition. The food service sector's adoption of pea protein is driving growth in the market. 

Key Pea Protein Company Insights

Key players in pea protein market include Nutri-Pea, The Scoular Company, Roquette Frères, Axiom Foods, Inc., and others

• Nutri-Pea specializes in the production of high-quality pea protein and other pea-derived ingredients. Its food applications include health foods, sports nutrition, plant-based meal Replacements, dairy Replacements, baked goods, meat, and seafood. Its product offerings include Propulse Pea Protein, Centara Pea Hull Fiber, Accu-Gel Pea Starch, Uptake 80 Pea Cell Wall Fiber, and others.

• The Scoular Company is a prominent player in the global agriculture industry. Focusing on connecting farmers, processors, and end-users, Scoular operates across various sectors, including grain trading, feed and food ingredient supply, and logistics. It provides grains and seeds, food ingredients, pet food ingredients, and animal food ingredients.

Recent Developments

• In March 2023, Nepra Foods announced a manufacturing & distribution partnership with Scoular for specialized plant-based products. Under this agreement, Nepra provides its R&D team with the development of new products, with specialty ingredients from both companies involved. Scoular further promotes Nepra’s products through its strong supply chain network

• In January 2023, Roquette announced a significant investment in the Japan-based food tech startup DAIZ Inc. DAIZ specializes in developing technologies and processes to improve plant-based food's texture, flavor, and nutritional profile. DAIZ's proprietary germination technology, the Ochiai Germination Method JP-5795679, was initially developed for soy and recently expanded to peas.

• In July 2024, Ingredion Incorporated announced the launch of Vitessence Pea 100 HD, a new pea protein enhanced for cold-pressed bars for the Canada and U.S. markets. It delivers softness throughout the shelf life of cold-pressed bars.

Pea Protein Market Report Scope

Global Pea Protein Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the pea protein market report based product, form, source, application, and region.

• Product Outlook (Revenue, USD Million, Metric Tons, 2018 - 2030)

  • Isolates

  • Concentrates

  • Textured

  • Hydrolysates

• Form Outlook (Revenue, USD Million, Metric Tons, 2018 - 2030)

  • Dry

  • Wet

• Source Outlook (Revenue, USD Million, Metric Tons, 2018 - 2030)

  • Yellow Split Peas

  • Others

• Application Outlook (Revenue, USD Million, Metric Tons, 2018 - 2030)

  • Food & Beverages

    • Meat substitutes

    • Bakery goods

    • Dietary supplements

    • Beverages

    • Others

  • Personal Care & Cosmetics

  • Animal Feed

  • Others

• Regional Outlook (Revenue, USD Million, Metric Tons, 2018 - 2030)

  • North America

    • U.S

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Sweden

    • Netherlands

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia & New Zealand

    • South Korea

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • South Africa