Pea Protein Market Size By Product (Isolates, Concentrates, Textured Pea Protein), By Application (Meat Substitutes, Nutraceuticals, Sports Supplements), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 - 2024

Published Date: Jan 2019  |  Report ID: GMI362  |  Authors: Kunal Ahuja, Kritika Mamtani

Report Format: PDF   |   Pages: 180   |   Base Year: 2017

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Pea Protein Market size was over USD 70 million in 2017 and industry expects consumption at over 34 kilo tons by 2024.

Pea Protein Market

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Growing consumer preference towards vegetarian and vegan diets owing to the high health benefits, digestibility and anti-allergen properties of the product will propel the pea protein market growth. These products are witnessing increasing adoption in dietary supplements, meat substitutes, bakery products, beverages, sports supplements and nutraceuticals. Global dietary supplements market size should surpass USD 220 billion by 2024 which indicates ample market growth potential. These products help lower blood pressure, achieve weight loss, regulates sugar, and minimizes kidney diseases, which should stimulate market growth.

Increasing product usage in nutraceutical and sports supplements sectors should drive pea protein market demand. Global sports nutrition market size was about USD 50 billion in 2017 which represents tremendous growth opportunities. These products exhibit desirable properties such as high amino acid content which makes it a viable option for decreasing muscle breakdown after workout and high protein content which offers workout nutrition for athletes allergic to other products. Rise in health consciousness along with increasing demand for textured products is likely to have a positive influence in the regional industry growth

High availability of other plant-based protein sources such as soy products with similar benefits may pose a challenge for the industry profitability and hamper pea protein market growth. Soy products are gaining importance owing to widespread application in soy milk products, food ingredients as fabricated foods and in meat products. However, manufacturers are focusing on advertising the product’s hypoallergenic properties which may be beneficial to individuals who exhibit allergic reactions or intolerance to conventional protein sources, thus accelerating market growth.

Pea Protein Market Report Coverage
Report Coverage Details
Base Year: 2017 Market Size in 2017: 70 Million (USD)
Historical Data for: 2013 to 2017 Forecast Period: 2018 to 2024
Forecast Period 2018 to 2024 CAGR: 12.9% 2024 Value Projection: 160 Million (USD)
Pages: 180 Tables, Charts & Figures: 214
Geographies covered (21): U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Poland, China, Japan, India, South Korea, Australia, Malaysia, Thailand, Brazil, Saudi Arabia, UAE, South Africa
Segments covered: Product, Application and Region
Companies covered (12): Burcon Nutrascience Corporation, Cosucra-Groupe Warcoing, Farbest Tallman Foods Corporation, Roquette Freres, Shandong Jianyuan Group, Sotexpro, The Scoular Company, Fenchem, Yantai Oriental Protein Tech Co. Ltd., Prinova Group LLC, Martin & Pleasance, Glanbia Plc
Growth Drivers:
  • Asia Pacific
  • Increasing nutraceutical market demand
  • Rising concerns towards lactose intolerance levels
  • North America: Rising protein consumption
  • Europe: Growing demand for gluten-free products
Pitfalls & Challenges:
  • Low acceptance of protein sources other than soy
  • Increasing market penetration of animal protein

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Pea Protein Market, By Product

Pea protein isolates market size may witness significant gains at around 12.5% up to 2024 pertaining to its rich protein concentration and balanced amino acid profile. These products find extensive use as texturizing agents in meat goods on account of their excellent emulsification, high solubility and good water-binding characteristics. Growing product adoption in processed meats, beverages, energy bars and supplements is likely to further stimulate product demand.

Pea protein concentrates market size surpassed USD 35 million in 2017. These products are well-suited for ice creams, infant foods, chocolates, baked products including bread, cake and oatmeal pertaining to their excellent emulsification, oil & water retention and foaminess. Rising product demand for sports nutrition and weight management on account of their easy availability in powder form making its suitable for gym freaks to avail protein intake in their daily lives, should boost market growth.

Pea Protein Market, By Application

Pea protein market size from meat substitute applications is estimated to exceed USD 60 million in the forecasted period. These products are used as alternatives to eggs in various bakery and confectionary items which include cupcakes, pastas, waffles and pies to avoid egg-based allergies and diseases such as diarrhoea and inflammation. Growing concerns for meat allergies, surging popularity of plant-based products and booming vegan population across the globe should further boost product demand.

Pea protein market demand from nutraceutical applications should witness gains of over 12% by 2024. They offer various benefits such as high amino acid content, sustain immune function, improve heart health, high solubility and good water-binding characteristics. These products can easily be complexed with other types to make a complete protein source which has increased its desirability among manufacturers pertaining to their functional and nutritional attributes which should accelerate market growth.

Pea Protein Market, By Region

North America, driven by the U.S. pea protein market demand witnessed a demand over 25 million in 2017. Growing consumer awareness for healthy, gluten-free food ingredients and weight management should propel the industry growth. These products improve muscle strength, cardiovascular health, gastrointestinal health, stimulates appetite and fat loss. Robust growth of the region’s sports nutrition industry and rising concerns towards cardiovascular diseases caused due to red meat consumption are likely to stimulate market growth.

Europe pea protein market demand driven by Germany, UK, France, Italy and Spain may register over 10.5% gains in the forecasted timeframe. The region is witnessing significant demand for gluten free and fat free products pertaining to growing health consciousness. These products contain almost all essential amino acids such as arginine and lysine which converts fatty acids into energy and reduces cholesterol. Increase in demand of sports supplements and meat replacement products for health-conscious people along with rising adoption of active lifestyles should accelerate market growth.

Asia Pacific driven by India, China, Japan pea protein market size may exceed USD 45 million by the end of foreseeable timeframe. Plant based products are gaining high popularity in the region since majority of the population follows Jainism, Hinduism and Buddhism which prohibits the usage of animal-based products. Proliferation of various diseases including obesity, diabetes, and cardiac diseases owing to excessive consumption of alcohol, smoking habits and junk food. These products are protein-rich which provides nourishment, help in weight control, thereby preventing diseases. Shifting preferences towards preventive healthcare which requires daily functional food and dietary supplements consumption to improve immunity should further stimulate product demand.

Pea Protein Market Competitive Market Share

Global Pea Protein market share is highly consolidated owing to the presence of limited market participants such as Roquette Frerers, Glanbia Nutritionals, The Scoular Company, Shandong Jianyuan Group and Cosucra-Groupe Warcoing. Prominent manufacturers are primarily focusing on the establishment of new manufacturing facilities to expand production capacity and achieve market expansion.

Pea Protein Market Industry Background  

Pea proteins are plant-based products extracted from yellow peas (Pisum sativum), which are available in isolates, concentrates and textured form. These products offer various benefits such as reduced anxiety, improved muscle strength, immunity, cognitive function, and help treat gastrointestinal disturbances. Growing demand for gluten-free products, rise in protein consumption and lactose intolerance concerns should stimulate market growth.

Frequently Asked Questions (FAQ) :

Pea protein is becoming widely popular across the nutraceutical sector to improve the heart health and immunity. The growth can be credited to the high amino acid content, solubility, and water binding properties. The segment will witness a double-digit CAGR of 12% over 2018-2024.
High solubility, emulsification, and water binding characteristics will drive the product adoption as texturizing agents in meat goods. The segment will register a double-digit CAGR of 12.5% over 2018-2024.
Roquette Frerers, The Scoular Company, Shandong Jianyuan Group, Glanbia Nutritionals, and Cosucra-Groupe Warcoing are the key market players.

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