Pea proteins are emerging as a popular alternative to the conventional protein products due to their high protein content with interesting functionality, sustainability, availability, affordability and hypo-allergenicity. The Global Pea Protein Ingredient Market is projected to reach US$ 6.78 Bn by 2030 from US$ 2.35 Bn in 2021. The market is registering a CAGR of 12.5% during the forecast period 2022-2027. In terms of volume, the market is registering a CAGR of 6.7% over the projection period. Pea protein is the protein extracted from peas blended into a purpose-made protein powder. Further, pea protein is known as a complete protein, meaning it contains all nine essential amino acids. The main health benefits of pea protein include a good amino acid profile that helps build muscle mass, improve blood sugar and other metabolic benefits, and control appetite. Also, pea protein powder will often also provide a good source of other nutrients, including iron, magnesium, folate, and potassium among others. Further, pea protein is non-genetically modified organism (GMO), gluten-free, nutritious, and of low allergenicity.
The market is majorly driven by factors such as the shift in consumer demand towards organic, natural, and healthy food products and rising obesity and cardiovascular diseases. Green peas have an impressive nutrition profile.
Their calorie content is fairly low, with only 62 calories per 1/2-cup. Further, pea protein powder is naturally free from fats and cholesterol, unlike whey, and is processed in a ‘greener’, more environmentally friendly way. Hence, the rising adoption of heathy lifestyle and products by individuals is propelling the market growth. Moreover, rising obesity and cardiovascular disease is also triggering the market growth. According to WHO, CVDs are the leading cause of death globally, an estimated 17.9 million people died from CVDs in 2019. Pea protein is high in fiber and is able to help prevent cardiovascular disease and reduce blood pressure by decreasing the levels of cholesterol. Further, pea protein may also be helpful in curbing hunger, thereby potentially helping with people with food cravings and helping to lose weight. However, the availability of alternative proteins such as soy, wheat, and whey are restraining the market growth.
Key Insights of the Report:
- The latest study published by Report Ocean analyzes Global Pea Protein Ingredient Market for the study period of 2017-2030; where historical years are 2017-2020, base year is 2021 and forecast period is 2022-2030.
- The research report offers detailed study of market determinants including market drivers, restraints, opportunities, and trends; along with attractive presentation in the form of impact analysis to gain a simpler and easy comparison view of all market determinants.
- The research study is a compilation of 15 chapters distributed across 210 pages with 67 lists of tables and 123 lists of figures.
- The market is segmented based on type, source, form, application, and region.
- The market estimates are presented in terms of value (US$ Mn) and volume (Thousand Units).
- Along with market estimations, the market study was conducted on the basis of various economic models such as PESTLE and Porter’s five force models.
- A detailed value chain analysis of the industry was conducted. It includes raw material providers, pea protein manufacturers/ processors, distributors, and end-users.
- The competitive dashboard section includes analysis on the basis of Concentration Ratio (CR), based on market size and market presence of key companies.
Key Takeaways from the Global Pea Protein Ingredient Market Report:
- Based on type, the pea protein isolates segment holds the highest market share in 2021. Pea protein isolates refers to the extracted protein created through a chemical process that separates protein from other elements of peas. Further, since it is only minimally processed from its original form, pea protein isolate typically doesn’t have the negative side effects that come with some other types of processed foods that contain high amounts of fillers and preservatives like sugar and sodium.
- In terms of source, the green pea segment dominates the pea protein ingredient market in 2021 as they are nutritious and contain a fair amount of fiber and antioxidants. Moreover, green peas are one of the best plant-based sources of protein, which is a major reason why they are so filling, along with their high amount of fiber. The unique protein content of green peas makes them an excellent food choice for those who do not eat animal products.
- Based on form, the dry form pea protein ingredient holds the highest share in the Global Pea Protein Ingredient Market in 2021. The shells are removed before the peas undergo dry milling. During dry milling, air classification is used in which a spiral air stream separates the fine protein molecules from the coarse starch molecules. With repeated dry milling and air classification, this intensifies the protein content to produce finely milled pea protein concentrate.
- In terms of application, diary alternatives segment records the highest market share in 2021. Pea protein digests more slowly than whey, making it a good option for people who want to control their appetites throughout the day. Further, pea proteins are dairy-free and lactose-free. Protein derived from dairy – typically whey or casein can cause allergies or sensitivity to these ingredients, in such cases pea protein isolate is an excellent alternative.
- North America is the highest shareholder region in the Global Pea Protein Ingredient Market in 2021. The growth of the market in North America is attributed to the growing food and beverage industry in the region. Further, the rising demand of gluten free products coupled with the presence of key market players fuels the growth of the pea protein ingredient market in 2021. However, Asia Pacific records the highest CAGR over the projection period owing to shifting consumer demand towards healthy food products.
Competitive Dashboard:
The key players in the Global Pea Protein Ingredient Market are Archer Daniels Midland Company, Burcon NutraScience Corporation, DuPont de Nemours, Inc., Farbest Brands, Glanbia PLC, and Ingredion Inc. among others.
Segmentation Overview
The following are the various segments of the Global Pea Protein Ingredient Market:
- By Type segment of the Global Pea Protein Ingredient Market is sub-segmented into:
- Pea Protein Isolates
- Pea Protein Concentrates
- Textured Pea Protein
- Pea Protein Hydrolysate
- Pea Flour
- Others Pea Protein
- By Source segment of the Global Pea Protein Ingredient Market is sub-segmented into:
- By Form segment of the Global Pea Protein Ingredient Market is sub-segmented into:
- By Application segment of the Global Pea Protein Ingredient Market is sub-segmented into:
- Nutrition and Health Supplements
- Alternative Meat Products
- Bakery & Confectionery Products
- Dairy Alternatives
- Cereals and Snacks
- Beverages
- Infant Nutrition
- Animal Feed
- Personal Care
- Others
- By Region segment of the Global Pea Protein Ingredient Market is sub-segmented into:
- North America
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of MEA
- South America
- Argentina
- Brazil
- Rest of South America
