Pea Protein Market Projected to Reach US$ 4,723.9 Million by 2034, with an Impressive Growth Rate of 11.4%

The global pea protein market size is projected to reach US$ 1,604.3 million in 2024. It will likely exhibit a compound annual growth rate (CAGR) of 11.4% during the forecast period, with overall pea protein sales totaling US$ 4,723.9 million by 2034.

A high-protein diet has grown in popularity as people all over the world have become more concerned with their health in recent years. Due to consumers’ increasingly hectic lifestyles, they are compelled to hunt for nutrients in packaged food items, which has generated a sizable market for a variety of alternatives, such as pew protein powder.

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The increase of chronic illnesses brought on by altered lifestyles and changes in exercise habits, particularly among millennials, are the key factors influencing the acceptability of a diet high in pea protein. Due to growing consumer interest in sports nutrition products as a consequence of better knowledge of bone and muscle health, the pea protein market is anticipated to expand.

Consumers’ evolving needs and a rising demand for non-GMO, gluten-free, and hexane-free goods are expected to fuel R&D in the pea protein market, which will support its expansion. The price of organic pea protein is significantly influenced by the cost of obtaining numerous licences, the characteristics of the finished product, and the manufacturing process, offering exciting opportunities for new entrants.

Key Takeaways from the Pea Protein Market Study:

• Pea protein isolate is the most popular product type of this market sector making it the largest segment with a share of more than 50% of total sales
• In 2021, North America accounted for about 44% of global revenue, dominating the pea protein industry worldwide.
• The demand for the textured pea protein in meat processing is expected to expand as a result of the existence of key meat product companies in the U.S., including JBF, Tyson, National Foods, and Cargill.

Competitive Landscape

US, France, Spain, U.K., and Germany, Italy are the major countries driving demand for Pea Protein Market. The name of some of the renowned pea protein market key players are Burcon Nutrascience, Roquette Freres,  The Scoular Company, DuPont, Cosucra Groupe Warcoing SA, Nutri-Pea Ltd., Shandong Jianyuan Group, Sotexpro SA, Ingredion, Inc., Axiom Foods, Inc., Fenchem Inc., and Martin & Pleasance.

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FMI, in its new offering, provides an unbiased analysis of Pea Protein  Market presenting historical demand data (2017-2022) and forecast statistics for the period from (2022-2032). The study divulges compelling insights on the demand for Pea Protein based on by Nature (Organic, Conventional), Product Type (Protein Concentrates, Protein Isolates, Textured Protein, Hydrolysed Protein), End Use (Food Processing, Animal Feed, Nutraceuticals, Sports Nutrition, Infant Nutrition, Cosmetic and Personal Care), by Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa )

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Pea Protein Market by Category

By Nature:

• Organic
• Conventional

By Product Type:

• Protein Concentrates
• Protein Isolates
• Textured Protein
• Hydrolyzed Protein

By End Use:

• Food Processing
• Meat Alternatives
• Bakery Products
• Confectionery
• Snacks & Cereals
• Meat-Based Products
• Functional Beverages
• Others
• Animal Feed
• Livestock
• Cattle
• Swine
• Poultry
• Pet Food
• Aquafeed
• Nutraceuticals
• Sports Nutrition
• Infant Nutrition
• Cosmetic and Personal Care

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa (MEA)

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Author

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.