Pea Protein Market : Business Opportunities and Global Industry Analysis

The report "Pea Protein Market by Type (Isolate, Concentrate, and Textured), Form (Dry and Wet), Source (Yellow Split Pea, Lentils and ChickPea), Application, and Region (North America, Europe, APAC, South America and ROW ) – Global Forecast to 2027", The market for Pea Protein is estimated at USD 1.7 billion in 2022; it is projected to grow at a CAGR of 11.9% to reach USD 2.9 billion by 2027.

North America accounted for the largest share; during the forecast period, in terms of volume and value, respectively. Increasing population adopting vegan lifestyle and rising awareness about nutritional factor and functionality of Pea Proteins are expected to provide more scope for market expansion.

Growth of population following vegan lifestyle, popularity of plant-based foods and gluten-free products, high demand of healthier functional and sustainable food options and nutritional benefits of pea-based products are key factors that are projected to drive the growth of the Pea Protein market during the forecast period.

The Pea Proteins market consists of a few globally established players such as Rouquette Freres (France), DuPont (US), Glanbia PLC (Ireland), Kerry (Ireland), Ingredion (US), Puris (US), Emsland Group (Germany), Yantai Shuangta Foods Co., Ltd (China), The Scoular Company (US), Burcon (Canada), Shandong Jianyuan Group (China), ET-Chem (China), AGT Food and Ingredients (Canada), The Green Labs LLC. (US), and Axiom Foods, Inc. (US). Strategic partnerships were the dominant strategy adopted by the key players, followed by expansions and new product launches. These strategies have helped them to increase their presence in different regions and industrial segments

North America is projected to be the largest market.

North America accounted for the largest share; during the forecast period, in terms of volume and value, respectively. The increasing vegan population, increasing demand for health & wellness products, increasing awareness about sustainable lifestyle and increasing consumption of processed meat products are the key drivers of the global pea protein market.

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The dry form Pea Protein is estimated dominate the Pea Protein market during the forecast period.

The dry form of pea protein is more popular than wet pea protein because it has a wider range of applications. Dry textured pea proteins have a dominant market position due to their characteristics and demand in a wide range of applications. The increased demand for dry textured proteins in applications such as plant-based meat due to its’ ability to replicate the meaty texture has helped to improve the industry outlook for dry textured pea proteins. They are commonly used as a nutritional supplement formulated with yellow protein pea extract. It is mostly used as a protein filler in products like fitness shakes and smoothies.

Marker Research Report Insights & Consulting.