Pea Protein Ingredients Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2030

The food industry is continuously searching for healthier and cheaper protein ingredients that can be replaced by animal-based and gluten-based proteins. Pea protein is beneficial due to its low allergenicity, availability, and high nutritional value. The Global Pea Protein Ingredients Market is witnessing a major rise in its revenue from US$ 2.35 Bn in 2021 to US$ 6.78 Bn by 2030. The market is recording a CAGR of 12.5% during the forecast period. In terms of volume, the market is recording a CAGR of 6.7% over the forecast period 2022-2030. The market is majorly driven by the shift in consumer demand towards organic, natural, and healthy food products and rising obesity and cardiovascular diseases. Green peas have a low-calorie content, with only 62 calories per 1/2-cup. Also, pea protein powder is naturally free from fats and cholesterol, unlike whey and casein, and is processed in a ‘greener’ and more environmentally friendly way. Thus, the rising adoption of healthy lifestyles and healthy products by individuals is fueling the market growth. Moreover, rising obesity and cardiovascular diseases are also propelling 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 can help prevent cardiovascular disease and help in the reduction of blood pressure by decreasing the levels of cholesterol. Further, pea protein may also be helpful in curbing hunger, thereby helping people with food cravings and obesity to lose weight. Furthermore, the rising food & beverage industry is providing a lucrative opportunity for market expansion. However, the availability of alternative proteins such as soy, wheat, and whey are hindering the market growth. 

Report Summary

The study of the global Pea Protein Ingredients Market considers various market determinants, industry value chain analysis, and competitor analysis of the market. The report discusses the analysis of the pea protein industry for the period 2017-2030, where the base year is 2021 and the forecast period is 2022-2030. The report provides a detailed analysis of the global Pea Protein Ingredients Market across 15 Chapters and 210 pages. The report includes data presentation across 67 tables and 123 statistical figures. 

The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides Porter’s five forces analysis wherein the bargaining power of sellers and intensity of rivalry is high. 

The subsequent section provides details of the market analysis based on different segments such as type, source, form, application, and region. The report includes a detailed study of the value chain of the industry. It includes raw material providers, pea protein manufacturers/ processors, distributors, and end-users. The report also covers extensively the key competitors in the market for pea protein ingredients. 

Segmental Analysis of the Global Pea Protein Ingredients Market:

• In terms of type, the pea protein isolates segment dominates the market in 2021 as it is only minimally processed from its original form. Further, pea protein isolate doesn’t have the negative side effects which come with some other types of processed foods. 
• Based on the source, the green pea segment holds the highest share in the Pea Protein Ingredients Market in 2021 owing to their nutritious and antioxidant properties. Further, green peas contain more fiber, making them an excellent food choice.
• In terms of form, the dry form pea protein ingredient holds the highest share in the Pea Protein Ingredients Market in 2021. Further, the liquid segment registers the highest CAGR over the projection period. 
• Based on the application, the dairy alternatives segment registers the highest share in the Pea Protein Ingredients Market in 2021. This is because pea protein derived from dairies – such as whey or casein could cause allergies or sensitivity, in such cases pea protein isolate is an excellent alternative.
• North America dominates the Global Pea Protein Ingredients Market in 2021. The growth of the market in North America is owing to the growth of the food and beverage industry in the region. Moreover, the rising demand of gluten-free products along with the presence of key market players is fueling the market growth of pea proteins in the region.

Competitive Insights:

• A&B Ingredients provide natural, clean-label ingredient solutions to the food and beverage industry focusing on health and nutrition, food safety, and shelf-life extension. Further, A&B Ingredients offers a wide range of clean label, plant-based, functional ingredients that are free from GMOs, and most are free from allergens, like gluten, soy, and dairy.
• Archer Daniels Midland Company creates and combines ingredients and flavors for food and beverages, supplements, animal feed, and more. ADM Outside Voice research finds that close to half (46%) of plant-based consumers believe that eating plant-based protein will support their overall health.
• Burcon is engaged in the plant-based protein revolution. Burcon has a pipeline of disruptive protein ingredient solutions in its portfolio that offers unmatched purity, exceptional taste, and excellent functionality. Burcon has successfully extracted unique pea proteins that taste and function unlike any other pea protein available on the market. Their pea proteins can easily be incorporated into a variety of foods and beverages including dairy alternatives, ready-to-drink beverages, dry blended beverages, bars, baked goods, and meat substitute products.
• Farbest Brands is a North American manufacturer of food and nutrition ingredients. Their pea protein is in high demand, due to its non-GMO, vegan, and gluten-free nature.

Segmentation Overview

The following are the various segments of the Global Pea Protein Ingredients Market:

By Type segment of the Global Pea Protein Ingredients 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 Ingredients Market is sub-segmented into:

• Yellow Pea
• Green Pea

By Form segment of the Global Pea Protein Ingredients Market is sub-segmented into:

• Dry
• Liquid

By Application segment of the Global Pea Protein Ingredients Market is sub-segmented into:

• Nutrition and Health Supplements
• Alternative Meat Products
• Bakery & Confectionery Products
• Dairy Alternatives
• Cereals and Snacks
• Beverages 
  • Ready-to-drink
  • Others
• Infant Nutrition
• Animal Feed
• Personal Care
• Others

By Regionsegment of the Global Pea Protein Ingredients Market is sub-segmented into:

• North America
  • The U.S.
  • Canada
  • Mexico
• 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