Pea Protein Ingredients Market

Pea Protein Ingredients Market By Product Type, Application, Form & Region for 2021 – 2031: Analysis and Review

Pea Protein Ingredients Market Snapshot

[300+ Pages Report] Sales in the pea protein ingredients market are estimated to total US$ 1.25 Bn in 2021. As per Future Market Insights (FMI), the overall market value is expected to reach US$ 2.5 Bn by 2031, rising at a CAGR of 7.2% between 2021 and 2031.

Rising demand from various end-use industries such as bakery & snacks, beverages and others is expected to fuel pea protein ingredients market growth during the forecast period. Increasing preference for natural ingredients in food products also will continue pushing sales in the market.

Data Points

Market Insights

Market Value 2021

US$ 1,25 Bn

Market Value 2031

US$ 2.5 Bn

CAGR 2021-2031

7.2%

Key Players

Nutri Pea Ltd., Archer Daniels Midland Company, Kerry Group PLC., Cargill Incorporated, and The Scoular Company, Axiom Foods, Inc., Batory Foods, PLT Health Solutions, Prinova Group LLC, and others

2016-2020 Pea Protein Ingredients Market Outlook in Comparison to 2021-2031 Growth Forecast

Future Market Insights projects the global pea proteins market to expand at a healthy 7.2% CAGR between 2021 and 2031, in comparison to the CAGR of 6.4% registered between 2016 and 2020.

Expansion of the pea protein ingredients market is attributable to increasing consumer awareness regarding benefits of preventative healthcare. Consumers are opting for healthy plant-based proteins such as pea protein to achieve the right balance of nutrients as a preventative measure against diseases caused due to nutrient deficiency.

Apart from the health benefits provided by pea protein ingredients, initiatives taken by producers to improve sales are expected to augment growth of the market. For instance, brands are promoting the benefits of pre protein ingredients various online forums and magazines such as bodybuilding.com, Livestrong.com, Shape magazine, and Men’s Health magazine. These online magazines and portals offer diet and lifestyle information and provide regular updates in this regard.

Owing to these factors, FMI has forecast sales of pea protein ingredients to rise at a steady pace over the assessment period.

How is Increasing Demand for Vegan Food Boosting Pea Protein Ingredients Sales?

Plant-based ingredients such as pea protein are in high demand among vegans, vegetarians, and people allergic to animal-based protein. Consumption of pea protein ingredients as an alternative to animal-based protein is beneficial in preventing a variety of chronic diseases, including diabetes, high blood pressure, and other cardiovascular problems.

According to the Plant Based Foods Association (PBFA), the vegan retail food sector was worth US$ 5 Bn in March 2020, expanding by 11.4% from the previous year. With more pea protein options on grocery store shelves and restaurant menus, the food industry is widely adopting plant-based ingredients, which in turn is leading to the expansion of the pea protein ingredients market.

Increasing demand for vegan pea protein in sports nutrition products is also expected to augment growth of the market. It offers health benefits like providing superior satiation, improving heart health, and increasing muscle mass.

Will Animal Protein Allergies Impact Sales of Pea Protein Ingredients?

According to the National Institute of Allergy and Infectious Diseases, milk, red meat, eggs, and seafood cause a substantial amount of food allergies. Because of these allergies, most meat eaters are preferring meat substitutes manufactured from plant protein, which in turn is boosting demand for pea protein ingredients.

Pea protein can be used in a variety of egg-based items such as vermicelli, pasta, cookies, and cakes. According to the Centers for Disease Control and Prevention (CDC) in the U.S. 12.2 Mn people have a food allergy, with two-thirds of those having an egg allergy. Food brands in various countries are introducing pea protein ingredients to appeal to the population, as animal-based protein consumption may raise the rates of allergies.

Which Region Offers the Largest Opportunity for Sales of Pea Protein Ingredients?

According to FMI, total sales of pea protein ingredients in North America is estimated to be account for over one-third of the global sales in 2021.  

Growing preference for plant protein-based beverages is the new and emerging trend in North America. Pea protein is a preferred plant protein for beverages due to benefits such as non-GMO and allergy-free properties along with the vegan appeal. These factors are expected to prompt companies across the region to launch new products with pea protein ingredients.

Increasing preference for healthier foods have prompted food and beverage companies in North America to diversify their portfolios. Rather than investing resources and capital in developing these new portfolios in-house, F&B companies appear to be more interested in acquiring smaller specialty food companies with a strong reputation.

This trend t is likely to continue in the forthcoming years, thus expanding the pea protein ingredients market. For example, ADM has acquired Sojaprotein in July 2021 which sells non-GMO vegetable protein components in 65 countries.

Country-wise Analysis

Which Factors Are Driving Sales of Pea Protein Ingredients in the U.S.?

According to FMI, the U.S. is expected to dominate the North America pea protein ingredients, holding 79.2% of the total North America market share in 2021.

Consumers are increasingly preferring clean labels in food and beverage products in the U.S. Pea protein is one of the gluten-free and non-GMO product, and it belongs in the clean-label food category. In the food sector, rising demand for vegan, non-GMO, gluten-free, and organic products will continue boosting sales of pea protein ingredients in the U.S. over the forecast period.

How is Sale of Pea Protein Ingredients Faring in the U.K.?  

The U.K. pea protein ingredients market is anticipated to account for 14.0% of the Europe market share in 2021.

Increasing ethical concerns about animal slaughter, rising health consciousness, and environmental awareness, along with increasing incidence of lifestyle disorders such as obesity and overweight are driving sales of  pea protein ingredients market in the U.K.

Rising adoption of dietary supplement items containing pea protein ingredients, such as smoothies, ready-to-eat food and ready-to-drink beverages is also expected to provide tailwinds to pea protein ingredients sales in the U.K. over the forecast period.

Why is China Dominating East Asia Pea Protein Ingredients Market?

The China pea protein ingredients is estimated to reach a valuation of US$ 64.3 Mn in 2021. Growth can be attributed to expansion strategies being adopted by the manufacturers in the China pea protein ingredients market.

Many food and beverage manufacturers are using pea protein as an ingredient to improve the nutritional and functional quality of products. Advancements in protein extraction processes that retain high quality protein, along with and growing demand for sustainable and affordable vegetarian protein products in China are expected to bode well for the market.

What will be the Demand Outlook for Pea Protein Ingredients Market in India?

India is projected to account for 24.0% of the South Asia pea protein ingredients market 2021, with demand growing at 11.4% CAGR over the forecast period.

Expansion of the nutritional supplement sector is a major driver of the pea protein ingredients market in India. In recent years, the number of gyms and fitness clubs in the country has increased dramatically. The pea protein ingredients market in the country is likely to be driven by increasing sales of nutritional and dietary supplements.

India is a lucrative market because of its vast vegetarian population, as well as rising purchasing power and awareness regarding dietary protein. Furthermore, the government of India is committed to providing affordable and nutritious products to the rural population, which has encouraged a lot of domestic food producers to include pea protein in a variety of products. These factors are expected to continue pushing sales of pea protein ingredients in India over the assessment period.

Category-wise Insights

Why is Demand for Isolate Pea Protein Ingredients Rising?

The isolate segment is expected to account for 58.7% of the total pea protein ingredients market share in 2021. Performance nutrition products, confectioneries, cereals, plant-based dairy products, and plant-based meat products are among the new applications for pea protein isolates.

Pea protein isolates are a high-quality, protein-rich alternative for vegans, vegetarians, lactose-intolerant people, and for nutrient-dense protein (such as lectins). Pea protein isolate is easily absorbed and digested by the body. Leucine, arginine, glutamine, and essential amino acids are abundant in pea protein isolate. Owing to these benefits, demand for isolates in the global pea protein ingredients market is expected to surge at a steady pace over the forecast period.

How is the Bakery Industry Propelling Sales of Pea Protein Ingredients?

According to FMI, demand for pea protein ingredients in the bakery sector is projected to grow at a 9.9% CAGR. The segment is expected to reach a valuation of US$ 341.1 Mn in 2021.

Pea protein ingredients are becoming increasingly popular as a means to provide nutrients to food, while also keeping gluten-free items together. The product offers various health benefits and has 25% protein content. According to Baking Business, this percentage is higher than wheat and rice, which have 13 % and 7%, respectively.

Why is Powder Form of Pea Protein Ingredients Highly Sought-After?

The powder form of pea protein ingredients is estimated to hold 62.3% of the total pea protein ingredients market share in 2021.

Pea protein is an excellent source of iron and a high-quality protein. It helps in gaining muscle, losing weight, and improves heart health. Including pea protein powder in everyday diet can help consumers with iron deficiency. These factors are anticipated to continue fueling sales of powder form of pea protein ingredients.

Competition Landscape

Leading players operating in the global pea protein ingredients market are investing in research and development in order to bring new products and services to the market. In addition to this, manufacturers are entering into strategic partnerships with end users and regional distributors to meet needs of a growing client base. For instance:

  • Glanbia Performance Nutrition, Inc., expanded its HarvestPro line of vegetarian plant proteins with new Canadian pea protein ingredients that incorporates flax, chia and ancient grain ingredients in the company’s popular range of vegetarian proteins. Moreover, the new HarvestPro offers significant flavour advantages over standard pea protein ingredients, relative to the desired application and desired flavor profile.

In addition to this, the company also utilizes its proprietary processing methods to expand particle size options and increase ingredient functionality. The company opened a next generation grains processing facility in South Dakota, setting high standards of commitment towards product innovation, food safety and quality.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

MT for Volume and US$ Mn for Value

Key Regions Covered

North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Oceania and MEA

Key Countries Covered

United States, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, China, India, ASEAN, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others.

Key Market Segments Covered

Product type, Application, Form and Regions

Key Companies Profiled

  • A&B Ingredients Inc.
  • Nutri Pea Ltd.
  • Archer Daniels Midland Company
  • Kerry Group PLC.
  • Cargill Incorporated
  • The Scoular Company
  • Axiom Foods, Inc.
  • Batory Foods
  • PLT Health Solutions
  • Prinova Group LLC
  • Burcon Nutrascience
  • Cosucra Groupe Warcoing
  • Glanbia Plc.
  • Roquette Frerès SA
  • AGT Food & Ingredients, Inc.
  • World Food Processing L.L.C.
  • Yantai T. Full Biotech Co. Ltd. 
  • Suzhou Wanshen Flour Products Co. Ltd.
  • Shandong Jindu Talin Foods Co. Ltd.
  • Others

Pricing

Available upon Request

Key Questioned Answered in the Report

  • What is the current value of the global pea protein ingredients market?

    The global pea protein ingredients market is expected to surpass a valuation of US$ 1.25 Bn in 2021.

  • At what CAGR is the market expected to grow?

    Pea protein ingredients consumption is expected to grow at a CAGR of around 7.2% during the period 2021-2031.

  • At what rate did the pea protein ingredients market grow between 2016 and 2020?

    The global pea protein ingredients grew at a CAGR of 6.4% during 2016-2020.

  • What are the key trends boosting pea protein ingredients sales?

    Increasing demand for vegan & natural food ingredients, along with rising focus on preventive care are key trends driving sales of pea protein ingredients.

  • What is the share of top 5 companies operating in the pea protein ingredients market?

    Top 5 producers of pea protein ingredients hold around 40-50% of the market share.

  • Which are the major countries driving demand for pea protein ingredients?

    The U.S., Germany, China, Australia, and India are the major countries driving demand for pea protein ingredients.

  • What is the demand outlook for pea protein ingredients in East Asia?

    East Asia is expected to hold around 11.8% of the total pea protein ingredients market share.

  • At what rate will the U.S. pea protein ingredients market grow?

    The U.S. pea protein ingredients market is projected to grow at a CAGR of around 5.9% over forecast.

Pea Protein Ingredients Market by Category

By Product Type:

  • Isolates
  • Concentrates
  • Textured  

By Application:

  • Bakery and Snacks
  • Dietary Supplements
  • Beverages
  • Meat Analogs/Substitutes
  • Others

By Form:

  • Powder
  • Liquid
  • Others

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

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