In its latest research report, Pea Protein Market—Global Opportunity Analysis and Industry Forecast (2024–2031), Meticulous Research® unveils insights into the dynamic growth trajectory of the pea protein market. This burgeoning industry is expected to achieve a valuation of $1.31 billion by 2031, registering an impressive compound annual growth rate (CAGR) of 14.2% from 2024 to 2031.
The surging demand for pea protein is driven by a convergence of health-conscious consumer behavior, the rising popularity of plant-based diets, and significant advancements in product innovation. These trends are reshaping the global food and nutrition landscape, positioning pea protein as a key ingredient in various applications across industries.
Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5054
Market Growth Drivers
The pea protein market’s rapid expansion is underpinned by several critical factors:
- Rising Popularity of Plant-Based Nutrition:
A global shift toward plant-based diets has fueled consumer interest in alternative protein sources. Pea protein, known for its high protein content and versatility, has emerged as a preferred choice among health-conscious individuals and those seeking sustainable food options. - Expanding Plant-Based Food Market:
The proliferation of plant-based products—ranging from meat alternatives to dairy substitutes—has significantly increased the demand for pea protein as a core ingredient. - Health & Wellness Trends:
Growing awareness of the nutritional benefits of peas, such as high protein and fiber content, has driven their adoption in functional foods and dietary supplements. - Innovations in Pea Protein Ingredients:
Industry players are focusing on developing advanced pea protein formulations, such as isolates and hydrolysates, to cater to evolving consumer preferences.
Market Segmentation
The pea protein market can be categorized based on type, source, processing method, form, application, and geography. Below is an overview of these segments and their projected growth trajectories:
- By Type
Pea protein products are classified into yellow pea proteins and green pea proteins, with yellow pea proteins dominating the market. This segment is expected to hold a commanding share of 94.7% in 2024.
- Key Drivers for Yellow Pea Proteins:
- High protein content
- Versatility in food applications, including plant-based burgers, snacks, and beverages
- Extensive global production
- Growing demand for pea protein isolates
Yellow split peas, a primary source for these proteins, are recognized for their nutritional value, including plant-based protein, healthy carbohydrates, and fiber.
- By Source
- Conventional Pea Protein:
This segment is poised to lead the market, primarily due to:- Cost-effective production
- Longer shelf life compared to organic alternatives
- Higher availability of conventional crop varieties
- Organic Pea Protein:
While growing in demand among niche markets, organic pea protein remains a smaller segment due to higher production costs and limited supply.
- By Processing Method
- Dry Processing:
Anticipated to dominate the market due to its:- Lower capital and operational costs
- Reduced energy and water usage
- Growing preference for cost-effective protein extraction methods
- Wet Processing:
While offering higher purity levels, wet processing faces challenges such as higher resource requirements, limiting its scalability.
- By Form
- Solid Pea Proteins:
The solid segment is projected to lead the market, attributed to:- Stability during storage
- Simpler manufacturing processes
- Broad applicability across food, beverages, and supplements
- Liquid Pea Proteins:
Though limited in market share, liquid forms are finding niche applications in beverages and specialized nutrition products.
- By Application
Pea protein’s diverse applications span across:
- Nutrition & Health Supplements:
- Expected to hold a dominant share of 36.4% in 2024.
- Rising demand for sports nutrition and functional foods underpins this growth.
- Meat & Meat Alternatives:
- Pea protein is increasingly being used in plant-based meat products.
- Bakery and Dairy Alternatives:
- Pea protein’s functional properties make it ideal for texture and nutritional fortification.
- Cereals, Snacks, and Beverages:
- A growing preference for healthy, protein-enriched snacks is driving demand.
- Pet Food:
- The incorporation of plant-based proteins in pet food formulations is another emerging trend.
- By Geography
- North America:
Dominating the market with an anticipated share of 42.4% in 2024, North America’s growth is propelled by:- Flourishing food & beverage sector
- Growing vegan population
- Rising awareness of sustainable and ethical food choices
The region is projected to generate $219.9 million in revenue in 2024.
- Europe:
Europe remains a significant market due to stringent food regulations and increasing demand for clean-label products. - Asia-Pacific:
A fast-growing market, driven by expanding vegan demographics and the rising popularity of plant-based diets.
Have specific research needs? Request a customized research report- https://www.meticulousresearch.com/request-sample-report/cp_id=5054
Competitive Landscape
The pea protein market is moderately competitive, characterized by the presence of both large multinational corporations and smaller regional players. Key industry leaders include:
- Roquette Freres (France)
- AGT Food and Ingredients Inc. (Canada)
- Cargill, Inc. (U.S.)
- Ingredion Incorporated (U.S.)
- Archer-Daniels-Midland Company (U.S.)
- Axiom Foods Inc. (U.S.)
- Burcon NutraScience Corporation (Canada)
- Glanbia Plc. (Ireland)
- Cosucra Groupe Warcoing SA (Belgium)
- Sotexpro SA (France)
- The Emsland Group (Germany)
These players are actively investing in research and development to enhance product offerings and cater to emerging consumer demands.
Get A Glimpse Inside: Request Sample Pages – https://www.meticulousresearch.com/request-sample-report/cp_id=5054
Future Outlook
The global pea protein market is set to experience robust growth over the forecast period, driven by evolving dietary preferences, technological advancements in food processing, and the increasing adoption of plant-based lifestyles. Key areas of focus for the industry include:
- Expanding the application scope of pea proteins beyond traditional sectors into cosmetics and pharmaceuticals.
- Addressing supply chain challenges to ensure consistent availability of high-quality raw materials.
- Collaborating with food manufacturers to develop innovative and sustainable pea protein-based products.
As consumers continue to prioritize health, wellness, and sustainability, the pea protein market is poised to play a pivotal role in shaping the future of global nutrition.
Read Full Report – https://www.meticulousresearch.com/product/pea-protein-market-5054
Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research