New York, United States , Sept. 02, 2024 (GLOBE NEWSWIRE) -- The Global Pea Protein Market Size is to Grow from USD 1.98 Million in 2023 to USD 5.87 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 11.48% during the projected period.
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Pea protein is a plant-based protein derived from yellow peas that is commonly used as an alternative to animal proteins. It is becoming increasingly popular due to its high nutritional value, high concentration of essential amino acids, and suitability for vegan, vegetarian, or allergen-free diets. Pea protein, unlike other plant proteins, is hypoallergenic, making it an excellent option for those who are allergic to dairy, soy, or gluten. Pea proteins have low cholesterol and fat content, which promotes muscle growth, helps with weight loss, and improves heart health. Pea protein is also more digestible than other plant-based proteins, lowering the likelihood of bloating and digestive discomfort. Pea protein is commonly found in protein powders, energy bars, and plant-based meat alternatives, making it a versatile source of protein. Plant-based foods are becoming increasingly popular around the world, with a slew of new products hitting the market, including bakery items and pastries, pizza, lattes, and vegan hamburgers. Pea protein powder has become a popular ingredient in protein shakes, smoothies, and energy drinks due to its ability to increase protein content. It is naturally vegan and hypoallergenic, making it appropriate for a variety of dietary needs. Pea protein is rich in iron and high-quality protein, and it is thought to promote muscle growth, aid in weight loss, and improve heart health. According to studies, protein derived from peas, particularly yellow peas, can help lower cholesterol and blood pressure levels while putting little strain on the kidneys. These health benefits are expected to boost the global pea protein market. However, the pea protein market’s growth is hampered by an unstable supply of raw materials and rising prices.
Browse key industry insights spread across 215 pages with 120 Market data tables and figures & charts from the report on the "Global Pea Protein Market Size, Share, and COVID-19 Impact Analysis, By Product (Isolates, Concentrates, Textured, and Hydrolysates), By Form (Dry and Wet), By Source (Yellow Split Peas and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The isolates segment dominates the market with the highest market share of the global pea protein market during the projected period.
Based on the product, the global pea protein market is divided into isolates, concentrates, textured, and hydrolysates. Among these, the isolates segment dominates the market with the highest market share of the pea protein market during the projected period. Pea protein isolates are rich in essential amino acids, particularly branched-chain amino acids (BCAAs), which are necessary for muscle growth and recovery. They are also high in iron and easy to digest, making them a great choice for health-conscious consumers. The growing emphasis on fitness, weight management, and overall health has increased the demand for high-quality protein sources such as pea protein isolates.
The dry segment is expected to grow at the fastest CAGR during the forecast period.
Based on the form, the global pea protein market is categorized into dry and wet. Among these, the dry segment is expected to grow at the fastest CAGR during the forecast period. Pea protein concentrates and isolates are produced using dry processing methods, which result in a more concentrated protein product, making them ideal for manufacturers and consumers seeking efficient protein sources. This stability makes it ideal for a variety of applications, including protein powders, snack bars, and meal replacements. It is also easy to store and transport. The convenience of dry pea protein aligns with modern consumers' hectic lifestyles, which necessitate quick and easy ways to meet their nutritional requirements.
The yellow split peas segment is expected to grow at the fastest CAGR during the forecast period.
Based on the source, the global pea protein market is categorized into yellow split peas and others. Among these, the yellow split peas segment is expected to grow at the fastest CAGR during the forecast period. Their high protein content and essential nutrients, including fiber, vitamins, and minerals, make them ideal for pea protein extraction. Furthermore, they are widely distributed, resulting in a consistent supply. Yellow split peas have excellent functional properties and a neutral flavor, making them suitable for a wide range of culinary applications. Yellow split peas are popular in the market because consumers know and accept them.
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North America is expected to hold the largest share of the global pea protein market over the forecast period.
North America is expected to hold the largest share of the global pea protein market over the forecast period. Increasing demand for gluten-free products, growing concerns about cardiovascular diseases (CVDs) caused by red meat consumption, and strong growth in the sports nutrition industry in North America are expected to drive the regional market during the forecast period. The protein (pea) market in North America is expected to grow significantly during the forecast period, driven by increased consumption of energy bars, cold cereals, and snacks.
Europe is predicted to grow at the fastest pace in the global pea protein market during the projected period. Several factors, include a greater emphasis on healthy living, a growing trend toward preventive health care, and increased demand for plant-based protein ingredients from European countries such as the United Kingdom and Germany. Furthermore, rapid market growth in Spain, France, Belarus, Russia, and Turkey due to increased domestic consumption of nutritionally enhanced powders and dietary soups is expected to benefit the entire plant protein industry.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global pea protein market are Burcon, Roquette Frères, The Scoular Company, Louis Dreyfus Company (LDC), COSUCRA., Nutri-Pea, Shandong Jianyuan Group, SOTEXPRO, Ingredion., Axiom Foods, Inc., FENCHEM, Ingredion Incorporated, Martin & Pleasance, The Green Labs LLC., BurconNutrascience Corp, CosucraGroupeWarcoing, and Others.
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Recent Developments
- In July 2024, Ingredion Incorporated launched Vitessence Pea 100 HD, a new pea protein enhanced for cold-pressed bars in Canada and the United States. It provides softness throughout the shelf life of cold-pressed bars.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global pea protein market based on the below-mentioned segments:
Global Pea Protein Market, By Product
- Isolates
- Concentrates
- Textured
- Hydrolysates
Global Pea Protein Market, By Form
- Dry
- Wet
Global Pea Protein Market, By Source
- Yellow Split Peas
- Others
Global Pea Protein Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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