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Pea Protein Market Size By Product (Isolate, Concentrate, Textured), By Application (Meat Substitutes, Nutraceuticals, Sports Supplements), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI362
  • Published Date: Dec 2022
  • Report Format: PDF

Industry Statistics

Pea Protein Market size reached USD 180 million in 2022 and is poised to depict a 10% CAGR through 2023-2032, on account of the growing burden of celiac disease.
 

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Consumers are shifting increasingly toward gluten-free diets to reduce weight and control the symptoms of celiac disease, which is highly prevalent in several developed economies such as America. Based on statistics from a Beyond Celiac report, approximately 3.2 million Americans are diagnosed with celiac disease. This high disease burden will promote the consumption of pea protein as a gluten-free protein source. In 2020, annual consumer spending on gluten-free foods crossed USD 1,500 billion in Spain, thereby boosting the demand for pea protein ingredients.
 

With the growing preference for meat alternatives, the plant-based protein industry has been thriving worldwide. As per survey data from Kerry, in 2021, 61% of consumers preferred plants as a protein source over animal-based proteins, further contributing to pea protein production. Despite the favorable business landscape, however, the availability of substitutes such as soy protein may limit industry development to a certain extent over the forecast period.
 

Solubility and other beneficial characteristics to proliferate pea protein isolate adoption

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Pea protein market value from isolates product segment is projected to register over 10% CAGR through 2032. Excellent emulsification, high amino acid content, and enhanced water-binding properties are among the key attributes bolstering the usage of pea protein isolates. Due to good solubility, varied isolate pea proteins have also been developed for wet applications, including plant-based milk beverages, clinical nutrition products, and egg-free glazing. Furthermore, the rising adoption of pea protein in meat and dairy alternatives will contribute to industry expansion over the forecast period.
 

Health consciousness & lifestyle changes to propel use of pea proteins in nutraceuticals

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Pea protein market size from nutraceutical applications is expected to surpass USD 65 million by 2032, as a result of changing lifestyles and eating patterns. With the strong presence of health-conscious consumers, the demand for nutritional supplements has surged. Research studies have also boosted public awareness about the nutritional benefits of pea protein. As per study results from Roquette, pea protein can offer excellent digestibility and a balanced amino acid profile. These attributes will amplify the usage of pea protein products in nutraceutical solutions for protein enrichment.
 

Europe to become a lucrative revenue hub for pea protein producers

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Europe pea protein market share is poised to exhibit an 8.5% CAGR through 2023-2032, given the rising consumption of healthy foods. Consumer demand for bread and other baked goods has also accelerated. Based on a new report from the Open University Business School, over half of the population in the UK eats bread daily, making the bakery business a critical part of the economy. These factors will escalate the use of ingredients such as pea protein in baked foods as a part of high-protein formulations and consequently.
 

Product range expansion strategies by major players to bolster industry dynamics

Competitive landscape of the pea protein market consists of companies such as Cosucra-Groupe Warcoing, Burcon Nutrascience Corporation, Roquette Freres, Farbest Tallman Foods Corporation, Shandong Jianyuan Group, The Scoular Company, Sotexpro, Yantai Oriental Protein Tech Co., Ltd., Fenchem, Prinova Group LLC, Glanbia Plc, and Martin & Pleasance, among others. These firms are focusing on product launches and business expansions to boost their footprint in the global market.
 

Impact of COVID-19 pandemic on pea protein market outlook

COVID-19 outbreak has emphasized the need for healthy eating and a strong immune system. The rising awareness of the importance of nutrient-rich diets during the pandemic will stimulate the intake of high-protein foods, including pea-based products. These ingredients are gaining rapid momentum as a solution to aid in tissue repair and growth and improve immunity. Corporate and investor interest in meat alternatives or plant-based proteins has also grown amid the pandemic. These factors will further escalate the production of plant-based pea proteins to meet the nutritional needs of consumers.
 

The Pea Protein market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million Square Meter and revenue in USD Million from 2018 to 2032 for the following segments:

By Product

  • Isolates
  • Concentrates
  • Textured

By Application

  • Meat substitutes
  • Nutraceuticals
  • Sport supplements
  • Others

The above information is provided on a region basis for the following:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Poland
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia
    • Thailand
  • Latin America
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa

 

Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

Global market size for pea protein reached USD 180 million in 2022 and is anticipated to depict a 10% CAGR through 2023-2032, on account of the rising burden of celiac disease.
Pea protein industry size from nutraceuticals application segment is expected to surpass USD 65 million by 2032, as a result of changing lifestyles and the adoption of healthy eating patterns.
Europe pea protein industry share will exhibit an 8.5% CAGR through 2023-2032, given the high intake of protein-rich baked goods.
Cosucra-Groupe Warcoing, Shandong Jianyuan Group, The Scoular Company, Sotexpro, Yantai Oriental Protein Tech Co., Ltd., Fenchem, Prinova Group LLC, Glanbia Plc, and Martin & Pleasance are some of the prominent players in the pea protein business.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 12
  • Tables & Figures: 204
  • Countries covered: 21
  • Pages: 215
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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