Global Pea Protein Market Grows at a Staggering CAGR of 12.78%

Leguminous plants like the pea have significant amounts of protein in their seeds (20–30%). It is mainly found as globulins, the main components of products made from pea protein isolate (PPI). Pea protein can be made using wet or dry milling methods, with a protein content ranging from 48% to 90%. Market Dynamics Growing Popularity of Meat Substitutes Drives the Global Market A sizable population has become more likely to choose meat alternatives over the forecast period, primarily due to environmental and health concerns. In order to boost the protein content of meat alternatives, businesses primarily use ingredients derived from plants, such as pea proteins. Increased demand for pea protein is expected as the market for meat alternatives continues to grow. Numerous companies, including Tyson, Smithfield, Perdue, and Hormel, have just recently entered the market due to the rising popularity of meat alternatives. As a result, the market for plant proteins is anticipated to expand. Increasing Attention to New Ideas and Improvements in Pea Protein Extracts and Products Creates Tremendous Opportunities To entice plant-based meat manufacturers, food technology companies optimize the ingredient at every production stage, from field-grown peas to the equipment used to extract the protein. Businesses are working to increase the number of proteins extracted from raw materials to incorporate as many proteins as possible into their finished products. This is because many consumers consider a product's maximum protein content crucial when selecting a product. Businesses are also focusing on improving the nutritional density and flavor of two essential properties, which is expected to create tremendous opportunities for the global pea protein market over the forecast period. Regional Analysis North America is the most significant shareholder in the global pea protein market and is expected to grow at a CAGR of 12.9% during the forecast period. Due to the nation's extensive cultivation, Canada is home to several significant pea protein producers, including Burcon, Nutri-Pea, Roquette, and others. As a result, the market's abundance of goods will probably contribute to the market's expansion in North America. The rising youth consumption of sports nutrition products is expected to increase the demand for protein isolates in North America over the upcoming years, especially in the U.S. and Canada. The region's growing awareness of meat allergies is expected to increase demand for textured plant proteins over the upcoming years. Europe is expected to grow at a CAGR of 12.3%, generating USD 208.22 million during the forecast period. The Europe market is anticipated to expand moderately over the forecast period due to several factors, including the rising emphasis on healthy living, the trend toward preventive healthcare, and the rising demand for plant-based protein ingredients from European countries like the U.K. and Germany. Additionally, due to an increase in the domestic consumption of nutritionally enhanced powders and dietary soups, the industry for plant proteins is anticipated to benefit from the rapid growth of pea proteins in countries like Spain, France, Belarus, Russia, and Turkey. Asia-Pacific is expected to grow significantly over the forecast period. The demand for pea protein is also anticipated to rise over the coming years in developing countries like China, India, Indonesia, Malaysia, and South Korea due to the expansion of the food and beverage sector in the Asia-Pacific region. Market expansion is anticipated to be aided by rising demand for nutrient-fortified functional food products in the region because of their positive effects on health. Shortly, it is also anticipated that rising demand for meat substitutes and allergen-free sports and fitness supplements will accelerate market growth. The agricultural sectors of China and India will likely benefit from supportive regulatory frameworks that will lead to a plentiful supply of raw materials for the pea protein industry. Key Highlights The global pea protein market was valued at USD 213.1 million in 2021. It is expected to reach USD 710.68 million by 2030, growing at a CAGR of 12.8% during the forecast period (2022–2030). Based on the product, the global pea protein market is bifurcated into isolates, concentrates, textured, and hydrolysate. The isolates segment is the highest contributor to the market and is expected to grow at a CAGR of 12.3% during the forecast period. Based on application, the global pea protein market is segmented into meat substitutes, bakery goods, dietary supplements, and beverages. The dietary supplements segment owns the highest market share and is expected to grow at a CAGR of 13% during the forecast period. North America is the most significant shareholder in the global pea protein market and is expected to grow at a CAGR of 12.9% during the forecast period. Competitive Players The global pea protein market’s major key players are Burcon, Roquette Frères, The Scoular Company, DuPont, Cosucra, Nutri-Pea, Shandong Jianyuan Group, SOTEXPRO, Yantai Oriental Protein Tech Co., Ltd, PURIS, Ingredion, Axiom Foods, Inc., FENCHEM, Martin & Pleasance, and The Green Labs LLC. Market News In October 2022, Roquette, a pioneer of plant proteins and a global leader in plant-based ingredients, announced the introduction of a new line of organic pea ingredients, including organic pea protein and pea starch. These ingredients are made at the company's plant in Portage la Prairie, Manitoba, Canada, with the help of organic Canadian pea growers who are part of a network. With these new options, Roquette gives its clients the freedom to select the food they want to provide consumers, ensuring its quality, dependability, and full farm-to-table traceability. Global Pea Protein Market: Segmentation By Product Isolates Concentrates Textured Hydrolysate By Applications Meat Substitutes Bakery Goods Dietary Supplements Beverage By Regions North America Europe Asia-Pacific Central and South America The Middle East and Africa

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