1 Global Pea Protein Market Size (Value) and CAGR (2024-2033)
In 2024, the global Pea Protein market was valued at USD 1,107.84 million, with a CAGR of 15.1% from 2024 to 2033.
Pea protein is an extract from peas. Peas are washed, dried and shelled. Dry peas are ground into flour containing protein, starch and fiber through grinding technology, and then the protein is extracted through fractionation and purification. Pea protein is dairy-free, lactose-free, gluten-free, soy-free, contains less carbohydrates, and is naturally free of cholesterol and fat. Pea protein has a high protein content per serving, a balanced distribution of amino acids, and a low incidence of allergies.
Figure Global Pea Protein Market Size (M USD) and CAGR 2024-2033
2 Pea Protein Market Drivers
Health and Nutritional Advantages
Pea protein is emerging as a preferred choice for consumers seeking plant-based, sustainable, and allergen-free protein sources. It is rich in essential amino acids, particularly lysine, which supports immune function and overall health. Additionally, pea protein is non-GMO, hypoallergenic, and free from cholesterol and gluten, making it an ideal alternative for individuals with dietary restrictions or preferences for healthier options. These nutritional benefits are driving its adoption in various food applications, including nutritional supplements, meat substitutes, and dairy alternatives.
Growing Plant-Based Meat Market
The increasing popularity of plant-based diets is a significant driver for the pea protein market. Plant-based meat products, which often use pea protein as a key ingredient, are gaining traction due to their lower saturated fat content and reduced environmental impact compared to traditional meat products. Companies like Beyond Meat and Lightlife Foods are leveraging pea protein to create meat substitutes that mimic the texture and taste of animal-based products, thereby expanding the market for plant-based proteins.
Technological Advancements
Advancements in extraction and purification technologies are enhancing the functionality and nutritional profile of pea protein. Leading companies such as Shuangta Food have developed innovative extraction methods that increase protein purity and improve functional properties like solubility, emulsification, and water-binding capacity. These technological improvements are making pea protein more versatile and competitive in the market, enabling its use in a wider range of applications.
3 Pea Protein Market Challenges
Raw Material Price Volatility
The cost of yellow peas, the primary raw material for pea protein, is subject to significant fluctuations due to factors such as weather conditions, market supply, and demand dynamics. For example, droughts in major pea-producing regions like Canada have led to reduced yields and increased prices. This volatility in raw material costs can put pressure on manufacturers’ profit margins and affect the overall market stability. Companies must manage these risks effectively to maintain profitability and ensure a consistent supply of pea protein products.
Competitive Landscape
The pea protein market is becoming increasingly competitive, with a growing number of companies entering the space. This competition is driven by the market’s high growth potential and the increasing demand for plant-based proteins. However, the entry of new players, including large multinational corporations, can lead to increased market saturation and price competition. Smaller companies may struggle to compete against larger firms with more resources, potentially leading to market consolidation.
Regulatory and Safety Concerns
The food industry is highly regulated, and pea protein products must comply with stringent safety and quality standards. Ensuring food quality and safety is critical, as any issues can lead to recalls, legal actions, and damage to a company’s reputation. Additionally, regulatory changes and varying standards across different regions can complicate compliance efforts and increase operational costs. Manufacturers must invest in robust quality control systems and stay updated on regulatory developments to avoid potential pitfalls.
4 Global Pea Protein Market Size and Share by Type in 2024
Pea protein isolate is the purest form of pea protein, produced through wet fractionation processes that result in the highest protein concentration. It is characterized by its high solubility, emulsification properties, and minimal taste profile, making it ideal for applications where a neutral flavor and high protein content are required. In 2024, the market value of pea protein isolate is projected to reach 525.01 million USD, accounting for approximately 47.39% of the total market. This type is widely used in nutritional supplements, protein bars, and ready-to-drink beverages due to its ability to enhance protein content without compromising taste or texture.
Pea protein concentrate is produced through dry fractionation, resulting in a lower protein concentration compared to isolates. It retains more of the original pea’s fiber and starch content, providing a slightly different nutritional profile. Concentrate is known for its excellent water-binding and emulsifying properties, making it suitable for applications such as meat substitutes and dairy alternatives. In 2024, the market value of pea protein concentrate is expected to be 264.25 million USD, representing 23.85% of the total market. Its versatility and cost-effectiveness make it a popular choice for food manufacturers looking to enhance the nutritional value of their products.
Textured pea protein is designed to mimic the texture of meat, making it a popular choice for vegetarian and vegan meat substitutes. It is produced through extrusion processes that give it a fibrous and chewy texture, similar to that of animal-based proteins. Textured pea protein is often used in products such as plant-based burgers, sausages, and other ready meals. In 2024, the market value of textured pea protein is estimated at 167.09 million USD, accounting for 15.08% of the total market. Its growing popularity is driven by the increasing demand for plant-based meat alternatives, particularly among consumers seeking sustainable and cruelty-free protein options.
Table Global Pea Protein Market Size and Share by Type in 2024
Type | Market Size (M USD) 2024 | Market Share 2024 |
Isolate | 525.01 | 47.39% |
Concentrate | 264.25 | 23.85% |
Textured | 167.09 | 15.08% |
Others | 151.50 | 13.68% |
5 Global Pea Protein Market Size and Share by Application in 2024
Pea protein is increasingly used in the bakery industry due to its ability to enhance texture and protein content without compromising taste. In 2024, the market value for pea protein in bakery applications is estimated at 194.31 million USD, accounting for 17.54% of the total market. This segment includes products like bread, cakes, and pastries, where pea protein can improve dough elasticity and nutritional value.
Pea protein is a popular choice for plant-based drinks and dairy alternatives due to its neutral taste and high solubility. In 2024, the market value for this application is projected to be 266.07 million USD, representing 24.02% of the total market. Products such as almond milk, soy milk, and other plant-based beverages benefit from pea protein’s ability to provide a creamy texture and high protein content.
Pea protein is used in cereals and snacks to enhance nutritional value and improve shelf life. In 2024, the market value for this application is estimated at 124.19 million USD, accounting for 11.21% of the total market. This segment includes products like granola bars, breakfast cereals, and protein snacks, where pea protein can provide a significant boost in protein content.
Pea protein is widely used in savory products, including ready meals and vegetarian alternatives, due to its ability to mimic the texture of meat. In 2024, the market value for this application is projected to be 221.45 million USD, representing 19.99% of the total market. This segment includes products like plant-based burgers, sausages, and ready-to-eat meals, where pea protein can provide a meat-like texture and high nutritional value.
Table Global Pea Protein Market Size and Share by Application in 2024
Application | Market Size (M USD) 2024 | Market Share 2024 |
Bakery | 194.31 | 17.54% |
Drinks & Dairy Alternatives | 266.07 | 24.02% |
Cereals & Snacks | 124.19 | 11.21% |
Savory (Ready meals and Vegetarian products) | 221.45 | 19.99% |
Nutritional Supplements | 160.97 | 14.53% |
Processed Meat & Seafood | 82.18 | 7.42% |
Others | 58.67 | 5.30% |
6 Global Pea Protein Market Size and Share by Region in 2024
North America is the largest market for pea protein, driven by high consumer awareness of health and sustainability issues. In 2024, the market value for North America is projected to be 448.01 million USD, accounting for 40.44% of the total market. The United States is the dominant player in this region, with a market value of 389.86 million USD, representing 87.02% of North America’s total.
Europe is the second-largest market for pea protein, with significant demand from the food and beverage industry. In 2024, the market value for Europe is projected to be 319.03 million USD, representing 28.80% of the total market. Germany is the largest market in Europe, with a value of 84.08 million USD, accounting for 26.35% of Europe’s total. Other significant markets include the UK, France, Italy, and Russia, each contributing to the region’s diverse demand for pea protein products.
The Asia-Pacific region is experiencing rapid growth in the pea protein market, driven by increasing consumer awareness of health and sustainability issues. In 2024, the market value for Asia-Pacific is projected to be 262.00 million USD, representing 23.65% of the total market. China is the dominant player in this region, with a market value of 128.31 million USD, accounting for 48.97% of Asia-Pacific’s total. Other significant markets include Japan, South Korea, Australia, and India, each contributing to the region’s diverse demand for pea protein products.
Figure Global Pea Protein Market Share by Region in 2024
7 Major Players in Global Pea Protein Market
7.1 Shuangta Food
Company Profile:
Shuangta Food is a leading manufacturer of pea protein products, established in 1992 and headquartered in China. The company has a strong presence in the global market, with manufacturing bases in China and sales regions spanning worldwide. Shuangta Food is known for its diversified product development, including pea protein, pea starch, dietary fiber, and other plant-based ingredients.
Business Overview:
Shuangta Food has positioned itself as a pioneer in the pea protein industry, leveraging advanced purification technologies to produce high-purity pea protein. The company’s products are widely used in food applications, including nutritional supplements, meat substitutes, and plant-based dairy alternatives. Shuangta Food’s commitment to innovation and quality control has enabled it to capture a significant share of the global market.
Product Offered:
Shuangta Food offers a range of pea protein products, including isolates and concentrates. Its pea protein isolate is renowned for its high purity, reaching up to 88% protein content. The company’s products are used in various applications, from protein powders to ready-to-drink beverages, due to their excellent solubility and minimal taste profile.
Recent Financial Performance:
In the most recent year, Shuangta Food reported a revenue of 110.09 million USD.
7.2 Roquette Frères
Company Profile:
Roquette Frères is a global leader in plant-based ingredients, with a history dating back to 1933. The company is headquartered in France and operates manufacturing bases across Europe, Asia-Pacific, and North America. Roquette Frères is renowned for its innovative approach to plant proteins and its commitment to sustainability.
Business Overview:
Roquette Frères specializes in the production of plant-based ingredients, including pea protein, for the food, nutrition, and health markets. The company’s products are designed to meet the evolving needs of consumers, focusing on health, sustainability, and innovation. Roquette Frères collaborates with customers and partners to develop solutions that address current and future challenges in the food industry.
Product Offered:
Roquette Frères offers a range of pea protein products under the NUTRALYS® brand. These products include functional pea proteins designed for applications where emulsifying or gelling properties are desired. NUTRALYS® pea proteins are used in various food applications, from bakery products to meat substitutes, due to their excellent functional properties and high protein content.
Recent Financial Performance:
In the most recent year, Roquette Frères reported a revenue of 65.62 million USD.
7.3 Ingredion Incorporated
Company Profile:
Ingredion Incorporated is a global leader in ingredient solutions, established in 1906 and headquartered in the United States. The company operates manufacturing bases primarily in North America but has a global sales reach. Ingredion is known for its diverse product portfolio, including sweeteners, starches, and plant-based proteins.
Business Overview:
Ingredion Incorporated focuses on producing ingredient solutions that enhance the texture, taste, and nutritional value of food products. The company’s pea protein products are designed to meet the growing demand for plant-based proteins, offering high protein content and excellent functional properties. Ingredion’s commitment to innovation and sustainability has positioned it as a key player in the global pea protein market.
Product Offered:
Ingredion Incorporated offers VITESSENCE® Pea Protein Isolate, which contains 80-85% protein and provides excellent solubility, emulsification, and dispersibility. The company’s pea protein products are used in various applications, including plant-based meat, dairy alternatives, and nutritional supplements, due to their high protein content and functional properties.
Recent Financial Performance:
In the most recent year, Ingredion Incorporated reported a revenue of 66.75 million USD.