Meticulous Research® has released a comprehensive report titled “Pea Protein Market—Global Opportunity Analysis and Industry Forecast (2024-2031).” The report projects the pea protein market will reach $1.31 billion by 2031, growing at a CAGR of 14.2% from 2024 to 2031. Key drivers of this growth include the rising interest in plant-based nutrition, health and wellness trends, and increased consumer awareness of the nutritional benefits of peas.
The pea protein market is moderately competitive, featuring both large and small players. Leading companies include Roquette Freres, AGT Food and Ingredients Inc., Cargill, and Ingredion Incorporated, among others. The market is segmented by type (yellow and green pea proteins), source (conventional and organic), processing method (dry and wet), form (solid and liquid), application (health supplements, meat alternatives, bakery products, etc.), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
In 2024, yellow pea proteins are expected to dominate, capturing 94.7% of the market share, driven by their high protein content and versatility in food applications. Conventional pea protein will also lead in market share due to its cost-effectiveness and longer shelf life. The dry processing method is anticipated to be the most prevalent, thanks to lower production costs.
In terms of application, nutrition and health supplements will hold a substantial share, benefiting from the increasing demand for nourishing food options. Geographically, North America is expected to lead the market, holding a 42.4% share in 2024, fueled by a thriving food and beverage sector and a growing vegan population.
