Global Pea Protein Market – Industry Trends and Forecast to 2029

Global Pea Protein Market, By Source (Yellow Split Peas, Chickpeas, Lentils), Type (Isolates, Concentrates, Textured), Form (Dry Textured Pea Protein, Wet Textured Pea Protein), Application (Meat Substitutes, Performance Nutrition, Functional Foods, SnacksBeverages, Bakery Products, Confectionery), Nature (Organic, Conventional) – Industry Trends and Forecast to 2029

Pea Protein Market Analysis and Size

Lactose-intolerant and health-conscious consumers see significant increases. The customers want lactose- and gluten-free protein components. Pea proteins is gluten-free and lactose-free, and peas include high-protein, nutrient-dense food. As a result, consumers are demanding vegan protein isolates to meet their nutritional requirements. This rising demand for lactose-free and gluten-free products is expected to boost global pea protein market growth.

Data Bridge Market Research analyses that the pea protein market was valued at USD 1.7 billion in 2021 and is expected to reach the value of USD 3.78 billion by 2029, at a CAGR of 10.50% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Market Definition

Pea protein is a type of protein and contains all nine of the essential amino acids. It is made from green and yellow split peas and is available in both wet and dry forms. Besides being high in protein, Peas are a good source of iron.

Pea Protein Market Dynamics

Drivers

• Rising cases of obesity as well as increasing public awareness

Pea protein market growth is being aided by a modified high moisture extrusion process and a new compositional research process. For instance, consumers who do not consume dairy products are turning to plant-based milk options, which have seen significant growth in recent years. This innovative product line or ready-to-eat products with no compromise on texture and taste is also boosting the growth of the pea protein market.

• Rise in social media marketing

The growing millennial population, as well as increased social media marketing, will further boost many opportunities, leading to the growth of the pea protein supplements market during the forecast period. The rising celebrities' endorsements and promotion for the benefits of consuming plant-based diets will further adds to the market growth.

Opportunities

The growing number of fitness centres and increased female participation are expected to fuel the market's growth. Pea proteins are environmentally friendly. As consumers become more aware of the properties of pea proteins, they are also adopting environmentally friendly and allergen-free products. Increasing growth demand in the allergen-free market will create growth opportunities in the forecast period

Restraints

The availability of low-cost substitutes, negative publicity, and side effects will impede the growth of the Pea Protein supplements market during the forecast period. Vegetarians consume Pea Proteins, but allergies in consumers, such as lactose intolerance, will act as a restraint, further challenging the growth of the in the green pea proteins market in the forecast period.

This pea protein market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the pea protein market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Post COVID-19 Impact on Pea Protein Market

The COVID-19 outbreak has put tremendous strain on the functional food and nutraceutical industries. Several frontline workers, including doctors, nurses, other medical professionals, hygiene workers or sweepers, and others, are working hard to stop the spread of the novel coronavirus. To combat the disease, government agencies have advised citizens to eat a healthy and nutritious diet. This is expected to increase demand for pea protein supplements, which promote the body's good health and optimal functioning by providing essential nutrients. Pea protein supplements are necessary for the growth and repair of human cells and tissues. Pea protein is beneficial for weight loss in addition to providing the building blocks for healthy muscles and tissues.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• Danone announced the commercial availability of its Vega One Pea Protein products in China in May 2020, with the Vega One Sport aimed at athletes. This product contains a variety of proteins derived from various sources, such as pumpkin seeds, alfalfa, sunflower seeds, and peas
• Burcon NutraScience Corporation announced a joint venture partnership with an investor group in May 2019 to construct a new C$65 million pea-protein and canola-protein commercial production facility in Western Canada. Burcon's Peazac and Peazazz pea proteins, as well as Nutratein, Puratein, and Supertein canola proteins, will be delivered by the plant
• Roquette Frères Le Romain announced in June 2018 that it would invest €40 million in its Vic-sur-Aisne facility to increase pea processing capacity and respond to a rapidly growing global demand for pea protein

Global Pea Protein Market Scope

The pea protein market is segmented on the basis of source, type, form, nature and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Source

• Yellow Split Peas
• Chickpeas
• Lentils

Application

• Meat Substitutes
• Performance Nutrition
• Functional Foods
• Snacks
• Beverages
• Bakery Products
• Confectionery

Nature

• Organic
• Conventional

Type

• Isolates
• Concentrates
• Textured

Pea Protein Market Regional Analysis/Insights

The pea protein market is analyzed and market size insights and trends are provided by country, source, type, form, nature and application as referenced above.

The countries covered in the pea protein market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.).

North America dominates the pea protein market due to rising vegan diet awareness and brand campaigning on social media platforms.

Asia-Pacific is expected to grow from 2022 to 2029 due to rapid urbanization, rising disposable income, and increased spending on the development of natural ingredients.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Pea Protein Market Share Analysis

The pea protein market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to pea protein market.

Some of the major players operating in the pea protein market are:

• Glanbia plc. (Ireland)
• Now Health Group, Inc. (U.S.)
• Nutiva Inc (U.S.)
• The Simply Good Food Co (U.S.)
• Iovate Health Sciences International Inc. (Canada)
• MusclePharm Corporation (U.S.)
• Kerry Group Plc (Ireland)
• CytoSport, Inc. (U.S.)
• The Nature's Bounty Co. (U.S.)
• Reliance Vitamin Company, Inc. (U.S.)
• Herbalife Nutrition, Inc. (U.S.)
• Danone S.A. (France)
• General Nutrition Centers (GNC) Holdings, Inc. (U.S.)
• Orgain Inc. (U.S.)
• True Nutrition (U.S.).