The global pea protein market size is projected to reach USD 1,604.3 million in 2024. It will likely exhibit a compound annual growth rate (CAGR) of 11.4% during the forecast period, with overall pea protein sales totaling USD 4,723.9 million by 2034.
Pea protein isolates and pea protein concentrates remain the top-selling products in the market. This can be attributed to their high protein content, improved digestibility, and other benefits. As per the latest analysis, the pea protein isolates segment will likely hold a market share of 47.3% in 2024.
Pea protein is becoming a highly popular option for consumers seeking plant-based protein sources. It contains all nine essential amino acids, making it a complete protein source. Pea protein's good digestibility and hypoallergenic nature make it an ideal alternative to several other plant-based proteins.
Consumption of a protein-rich diet has grown greatly over the past few years due to individuals' increasing awareness of health benefits globally. Owing to their hectic lifestyles, people are compelled to search packaged food products for nutrients, which has increased the market potential for pea protein.
Food manufacturers who package their goods are incorporating nutrient-dense ingredients like pea protein isolate into their products. This rising usage of pea protein in the food and beverage industry is expected to propel sales during the assessment period.
Other Factors Fostering Growth of Pea Protein Market
| Attributes | Key Insights |
|---|---|
| Estimated Pea Protein Market Value (2024E) | USD 1,604.3 million |
| Projected Pea Protein Market Revenue (2034F) | USD 4,723.9 million |
| Value CAGR (2024 to 2034) | 11.4% |
| Top 3 Countries Value Share | 36.5% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Global sales of pea protein grew at a CAGR of 7.1% from 2019 to 2023. For the next ten years, the market for pea protein is projected to progress at 11.4% CAGR, totaling a valuation of USD 4,723.9 million by 2034.
The global pea protein market share has grown due to rising demand for organic pea protein, developments in protein-based products, and the trend of including pea protein powder in various products.
Because pea protein is used in supplements for sports nutrition and weight management, the target market is expected to grow rapidly over the forecast period. On the other hand, inadequate consumer awareness of products containing pea powder and problems with pea protein nutrition formulation will likely limit market expansion.
Rising Demand for Plant-based Foods Boosting Pea Protein Market
Increasing concern about the environmental impact of various food products and the welfare of animals will likely cause a significant rise in global sales of plant-based foods. This will support the expansion of the pea protein market through 2034.
Around 8 million lives could be saved by a global shift to diets that rely more on fruits and vegetables and less on meat by 2050, according to a study by Oxford Martin School academics. Further, it will prevent USD 1.5 trillion in climate-related damages and cut greenhouse gas emissions by two-thirds.
Plant-based diets have been shown to improve health, including a lower risk of developing diabetes, hypertension, and coronary heart disease. This growing popularity of plant-based foods will act as a catalyst triggering sales of pea protein during the assessment period.
| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2023 (P) | 9.6% |
| Jan to Jun (H1), 2023 (A) | 9.3% |
| Jul to Dec (H2), 2023 (P) | 9.5% |
| Jul to Dec (H2), 2023 (A) | 9.7% |
| Jan to Jun (H1), 2024 (P) | 9.9% |
Principal Consultant
The table below shows the growth rates of prominent nations. China, the United States, and Australia are expected to remain the top three consumers of pea protein, with expected CAGRs of 6.5%, 5.5%, and 8.4%, respectively, through 2034.
| Countries | CAGR |
|---|---|
| United States | 5.5% |
| Germany | 4.9% |
| China | 6.5% |
| Australia | 8.4% |
In China, companies like Foodchem International Corporation are prominent suppliers of pea protein. Their offerings include pea protein, which is HALAL, HACCP, and KOSHER certified which is suitable for a wide range of dietary restrictions and quality standards.
The demand for pea protein with a protein content of over 75% is increasing significantly, especially within the dairy alternatives industry. This high-protein ingredient is becoming popular for use in products such as cheeses and yogurt, driven by the growing interest in plant-based and vegan food companies
Pea protein has high nutritional value, allergen-free nature, and suitability for those with lactose intolerance or dietary restrictions. This trend is moving towards sustainable and health-conscious food choices, where plant-based proteins are playing a crucial role.
Companies are capitalizing on this demand by providing high quality, certified pea protein that meets the needs of various end-use industries, ensuring both compliance with international standards and satisfaction of consumer preferences.
Germany's pea protein market is expanding significantly, particularly in the sports nutrition industry. Pea protein has a high-quality amino acid profile, which promotes muscle building, and recovery hence athletes and fitness enthusiasts are choosing plant-based proteins.
This change is being driven by increased knowledge of the health advantages of plant-based proteins, which include their hypoallergenicity and ease of digestion, which make them a good option for consumers who has a lactose intolerance or allergies to other protein sources like soy or whey.
Pea protein is environmentally sustainable since it has a reduced carbon footprint than animal-based proteins, which is in line with the growing consumer focus on making eco-friendly dietary choices.
Product innovation and strategic marketing efforts are further pushing the demand for pea protein in sports nutrition. Manufacturers are coming up a variety of pea protein-based products, such as protein powders, shakes, and bars, tailored to meet the needs of athletes for muscle building, energy maintenance, and weight management. This creating a favorable environment for the growth of the pea protein market in Germany.
Sales of pea protein in the United States are projected to grow at a CAGR of 5.5% between 2024 and 2034. Some of the key drivers/trends include:
Pea protein is increasingly recognized as a nutritionally dense and allergen-friendly option, making it appealing for parents seeking plant-based alternatives for their children. The increase in health claims, such as being rich in essential amino acids, environmentally sustainable, and aiding muscle development, are expected to fuel demand for pea protein powders through 2034.
The emergence of whole egg alternatives is contributing to the booming sales of pea protein in the United States. As consumers seek alternatives to traditional animal products, including eggs, pea protein stands out as a functional and protein-rich ingredient that can replicate the texture and nutritional content of eggs in various applications.
The versatility of pea protein in plant-based formulations is expected to foster the growth of the pea protein market in the United States. Similarly, the shift towards healthier and sustainable food choices portrays pea protein as a key ingredient in the nation, with its sales expected to continue thriving as these trends evolve.
Another significant trend driving pea protein sales in the United States is the increased per capita consumption of plant-based protein among children. With a growing focus on health and wellness, parents are actively seeking nutritious alternatives for their children, leading to a rise in the incorporation of pea protein into various child-friendly products, including plant-based milk, snacks, and meals.
The versatile nature of pea protein allows manufacturers to create appealing and palatable options for young consumers without compromising nutritional benefits. This growing usage of pea protein in infant nutrition will likely improve the United States pea protein market share.
The section below shows the pea protein isolates segment dominating the pea protein market. It is set to account for a revenue share of 47.3% in 2024. Based on end-use, the food processing segment is estimated to account for a value share of 50.5% in 2024.
| Top Segments | Estimated Market Share (2024) |
|---|---|
| Pea Protein Isolates (Product Type) | 47.3% |
| Food Processing (End-use) | 50.5% |
As per the latest analysis, pea protein isolates remain the highly sought-after product types in the pea protein industry. The target segment is estimated to account for a dominant revenue share of 47.3% in 2024. This can be attributed to the following:
Pea protein isolates contain a high protein content (around 80% to 90%). This makes them popular for consumers looking for high-nutritional vegan proteins. Similarly, the absence of fiber and other non-protein components in pea protein isolates makes them easier to digest for individuals with gluten intolerance or sensitive stomachs.
Pea protein isolates possess excellent emulsifying, foaming, and texturizing properties. As a result, they are widely incorporated into protein powders, baked goods, plant-based meat alternatives, and nutritional beverages, thereby fueling their demand.
On the other hand, demand for pea protein concentrates is expected to grow at a higher CAGR during the forecast period. This can be attributed to the growing popularity of pea protein concentrates among people seeking plant-based, allergen-free protein sources.
The inexpensive nature of pea protein concentrates and widening applications in food and nutraceutical sectors will foster segment growth. Subsequently, the growing popularity of pea protein concentrates as a potential tool for weight control, especially among vegans, is expected to fuel sales.
Based on end use, adoption of pea protein will likely remain high in the food processing sector. The target segment is projected to hold a value share of 50.5% in 2024. This can be attributed to factors like
Pea protein offers a promising future for food processing, adding both nutritional value and desired functionalities in diverse products. It is becoming a valuable protein source for protein bars, plant-based diets, and sports nutrition products due to its complete amino acid profile.
Growing demand for processed food products, especially plant-based ones, is expected to fuel sales of pea protein. Similarly, the growing usage of pea protein as a texturizer, thickener, foaming agent, and emulsifier in the food processing sector will likely boost the target segment.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The substantial number of procurement locations within the global pea protein market simplifies purchasing raw materials. Most of the top companies focus on developing regional technologies for processing high-quality pea protein powders.
Key manufacturers of pea protein are constantly introducing new products, including organic pea protein, vanilla pea protein powder, and chocolate pea protein powder, with sustainable packaging to meet growing consumer preferences for plant-based proteins. They also look to build stronger partnerships with e-commerce portals to ensure a steady supply of their goods.
Several companies are also focusing on improving the flavor, texture, and functionality of pea protein products to make them more appealing to a wider audience. This will open new opportunities in sports nutrition, plant-based meat substitutes, and functional food components.
Recent Developments in the Pea Protein Market
The global pea protein market value is projected to reach USD 1,604.3 million in 2024.
The pea protein industry recorded a CAGR of 7.1% between 2019 and 2023.
Pea protein demand is projected to increase at 11.4% CAGR through 2034.
The pea protein market size is expected to reach USD 4,723.9 million in 2034.
Exploring new applications for pea protein is a key market-shaping trend.
Leading pea protein companies account for 45% of the market.
North America is set to account for a market value share of 26.5% in 2024.
The United States, Brazil, Canada, China, and India.
Europe is expected to account for a global market share of 32.6% in 2024.
The United States, Brazil, Germany, China, and India.
India holds a dominant share of the East Asia pea protein market.
High processing costs make pea protein more expensive than several other plant-based proteins.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Nature 5.1. Organic 5.2. Conventional 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type 6.1. Protein Concentrates 6.2. Protein Isolates 6.3. Textured Protein 6.4. Hydrolyzed Protein 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use 7.1. Food Processing 7.1.1. Meat Alternatives 7.1.2. Bakery Products 7.1.3. Confectionery 7.1.4. Snacks & Cereals 7.1.5. Meat-Based Products 7.1.6. Functional Beverages 7.1.7. Others 7.2. Animal Feed 7.2.1. Cattle 7.2.2. Swine 7.2.3. Poultry 7.2.4. Pet Food 7.2.5. Aquafeed 7.3. Nutraceuticals 7.4. Sports Nutrition 7.5. Infant Nutrition 7.6. Cosmetic and Personal Care 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Burcon Nutrascience 18.2. Roquette Freres 18.3. The Scoular Company 18.4. DuPont 18.5. Cosucra Groupe Warcoing SA 18.6. Nutri-Pea Ltd. 18.7. Shandong Jianyuan Group 18.8. Sotexpro SA 18.9. Ingredion, Inc. 18.10. Axiom Foods, Inc. 18.11. Fenchem Inc. 18.12. Martin & Pleasance 19. Assumptions & Acronyms Used 20. Research Methodology
Food and Beverage
October 2023
REP-GB-18014
153 pages
Explore Food and Beverage Insights
View Reports
Pea Protein Market
