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Pea Protein Market Expected to Reach $227.1 Million by 2032—Allied Market Research

 
2022
Pea Protein Market

Report Code : A04372

quote Huge varieties of pea protein are expected to boost the market growth in the foreseeable future. Moreover, incorporation of more nutritional values to the pea protein, as well as innovative pea protein is likely to promote sustainability in the market growth in the upcoming years. quote

Roshan Deshmukh - Manager
Food and Beverages at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Pea Protein Market," The pea protein market size was valued at $94.60 million in 2022, and is estimated to reach $227.1 million by 2032, growing at a CAGR of 9.2% from 2023 to 2032.

Pea protein, which has all nine essential amino acids, has many health advantages, including helping people lose weight, improving blood flow & calcium absorption, maintaining lean muscle, speeding up metabolism, and controlling blood sugar. Branch chain amino acids (BCAAs), which the body cannot generate, make up around 20% of the amino acids in pea protein. BCAAs are excellent for growing muscle since they make up more than 35% of muscle mass and promote protein synthesis. A crucial component of muscle growth is arginine (L-arginine), another essential amino acid. In addition, it aids in minimizing muscle breakdown following demanding workouts. The adoption of pea protein-based sports nutrition & weight management products has been propelled by trends, including rise in demand for organic-based foods & better & premium food options, which in turn, is predicted to present potential global pea protein market growth possibilities. 

Pea protein is easily digested and includes amino acids that are crucial for good bodily function. In addition, it is a great source of lysine and iron, two nutrients that boost immune system function and muscular building. Therefore, these nutritional qualities are likely to satisfy pet owners' demand for a healthy food option. To avoid illnesses and prevent nutrition deficiencies, the majority of domestic animal owners make sure that their animals are fed on nutritional food. As a result, most pet feed producers are concentrating on producing pet meals using pea protein as a main ingredient, which is helping the industry expand. 

However, the usage of plant proteins in food items is anticipated to grow significantly in the next years as a way to satisfy the global demand for affordable sources of protein. When selecting protein supplements, consumers are becoming more selective. In addition, they look for sources of protein that are secure, complete, and sustainable. Since pea protein is nongenetically modified (non-GMO), gluten-free, nourishing, and exhibits low allergenicity, it satisfies these requirements. Leading businesses, research institutions, and organizations are having trouble formulating pea protein products with appealing flavors. Manufacturers are constantly working on R&D projects to create novel pea protein goods that taste just like traditional products and don't have any weird flavors, colors, or textures. Incorporating pea protein faces significant difficulties due to its inherent sensitivity to various stresses during product manufacturing, high rate of physical & chemical degradation during long-term storage, and enhanced aggregation or viscosity at high protein concentrations. Other applications include dairy alternatives, dietary supplements, meat products, bakery & confectionery, gluten-free products, and others. The market's expansion is hampered by the significant time and money needed to overcome these obstacles. 

The pea protein market is segmented on the basis of type, form, application, and region. By type, it is classified into pea protein isolate, pea protein concentrate, and textured pea protein. Depending on form, it is categorized as dry and liquid. By application, it is segmented into dietary supplement, bakery & confectionery goods, meat products & alternative, beverages, and others. By region, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.  

By type, the pea protein isolate segment dominated the market in 2022, garnering around half of the market share; moreover, the textured pea protein segment is expected to grow at the highest CAGR of 9.7% from 2023 to 2032. In addition, the pea protein isolates contain a concentration of protein between 80% and 95%, and are better suitable for the production of dietary supplements in the sports nutrition field. These products are further used as texturizing agents in products due to their high amino acid content, emulsification, superior water-binding properties, and high solubility. Pea protein are one of the ideal source of protein for consumers with dietary intolerances due to the absence of allergens like lactose or soy in the product. Due to these benefits of pea protein , the market is expected to grow positively over the course of the projected period.  

Depending on form, dry segment dominated the market in 2022, garnering around three-fourths of the market share. Moreover, liquid segment is expected to grow at the highest CAGR of 9.4% from 2023 to 2032. In addition, applications for dried pea protein include adding it to protein drinks and dietary supplements, as well as improving the texture of meat substitute products. Dried pea protein is expected to dominate the market throughout the projected period due to wide usage in the production of meat, bakery products, and sports & health supplements. The blending properties of pea protein with other food ingredients is the positive feature that makes its a solution to be utilized in nutritional drinks, sports drinks, and other beverages. Pea protein has a higher availability and is comparably inexpensive compared to other sources of protein. Pea proteins have a host of health benefits and are increasingly in demand as meat alternatives, pea proteins are in high demand. 

As per application, the dietary supplement segment dominated the market in 2022, garnering majority of the market share. Moreover, meat products & alternative segment is expected to grow at the highest CAGR of 9.9% from 2023 to 2032. In addition, growth in health awareness and objective to lead a healthy lifestyle have influenced consumer preferences for a wholesome diet. They have been searching for all-encompassing, sustainable, and wholesome food solutions. Pea protein, which is completely vegan and has all nine essential amino acids, has many health benefits, including assisting with weight management, enhancing calcium absorption and blood flow, preserving healthy muscle, accelerating metabolism, and regulating blood sugar levels. As a result, manufacturers of nutritional and dietary supplements have been seeking to incorporate pea protein as a significant component of their products. 

Region wise, North America dominated the Pea Protein Industry in 2022, garnering a pea protein market share of 35.2%. The leading position of the North American region is mostly attributable to the well-established food & beverages industry and expanding concerns about animal products and protein. Technology advancements have increased the nutritional content and culinary flavor of pea protein, which has a significant impact on how many people use it. Due to the demand from the food industry for pea proteins with a specific texture, the pea protein market in this region is growing. 

Some of the major players analyzed in this report are A&B Ingredients, Roquette Freres Le Romarin, Burcon Nutrascience Corporation, Cosucra Groupe Warcoing SA, Glanbia, Plc., Green Labs, LLC, GEMEF Industries, Axiom Foods, Inc., Puris, and Yantai Shuangta Food Co., Ltd. 

Key findings of the study  

  • Pea protein market by type, the pea protein isolate segment is estimated to witness significant growth, registering a CAGR of 9.0% during the forecast period.   

  • According to the Pea Protein Market Analysis by form, the dry segment is anticipated to grow at a CAGR of 9.1% during the pea forecast period.   

  • According to the Pea Protein Market Trends by application, the dietary supplement segment is estimated to witness significant growth, registering a CAGR of 9.3% during the pea protein market forecast period.   

  • Based on the Pea Protein Market Opportunities Analysis by region, North America was the dominant region in 2022, occupying a major share of the market. 

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quote Pea Protein Market by Application (Dietary supplement, Bakery and confectionery good, Meat products and alternative, Beverage, Others), by Type (Pea protein isolate, Pea protein concentrate, Textured pea protein), by Form (Dry, Liquid): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

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