Global Pea Protein Market 2018: Industry Review, Research, Statistics, and Growth to 2024

Pea protein is a food additive, majorly used in cheese and yogurt. The pea protein market is predicted to grow due to health consciousness among consumers and demand of pea protein supplements. Renewed interest in gluten-free products, acceptance of meat substitutes amid the lactose intolerance levels among teens is augmenting market demand.

Increasing acceptance ofmeat substitutes, concerns regarding lactose intolerance among adolescents combined with the interest in gluten-free products are some of the major drivers expected to drive pea protein market. The favorable outlook towards sports nutrition is aiding the growth of the pea protein market. However, other plant-based substitutes such as soy, canola, and wheat can be major challenges to this market. New product development and innovation could open up new avenues for growth in this market.

Meat substitutes are manufactured from isolates because of good water binding characteristics, emulsification, high amino acid content, and high solubility. They are also used in sports nutrition supplements as they contain 95% protein. Textured pea proteins are integrated into beverages and dietary supplements owing to its similar texture tomeat and high fiber content. Pea concentrates are used in aquafeed, beverages, and food as they are made up of 75% protein.

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Competitive landscape

Major players of the pea protein market are Roquette Frères, Shandong Jianyuan Foods Co., Ltd., Burcon Nutrascience Corporation, and Shandong Jianyuan Foods Co., Ltd. They have formed alliances with domestic distributors to ensure a steady product supply in high-demand regions. Roquette Frères produces pea proteins under the brand name – NUTRALYS. Burcon, on the other hand, has managed to manufacture vegetable-based protein which is transparent and 100% soluble..

Plant-based supplements made from wheat, canola, and soy can pose a market challenge. But development of novel products could open up new market avenues. The global pea protein market is segmented according to products, applications, and regions. Products include textured pea protein, isolates, and concentrates.

Meat substitutes and sports nutrition supplements are manufactured using isolates. This can be on account of high amino acid content, high solubility, and good water binding. Textured pea proteins are heavily used in dairy supplements and beverages owing to their similar appearance to meat. Pea concentrates used in beverages, aquafeed, and foods constitute about 75% protein.

Dietary supplements, sports supplements, meat substitutes, nutraceuticals, and others are major market applications. Dietary supplements are the largest application of the pea protein market on account of consumer awareness about nutraceuticals. Concerns regarding meat allergies will spur the demand for meat substitutes. It will be the fastest growing application over the forecast period (2016-2024).

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