The pea protein market has been rapidly expanding in recent years, fueled by several factors including the growing consumer preference for plant-based proteins, increased awareness of pea protein's health benefits, and a rising trend toward vegan and vegetarian diets. Valued at approximately USD 2.1 billion in 2024, the pea protein market size is projected to reach USD 3.7 billion by 2029, with a compound annual growth rate (CAGR) of 12.0% during this period. Extracted from yellow peas, pea protein is known for its high protein content and attributes such as being gluten-free and hypoallergenic, which make it suitable for a variety of dietary needs.
Global Pea Protein Market Growth Drivers
The surge in plant-based food popularity, highlighted by innovative products like plant-based lattes and vegan burgers, has significantly impacted the pea protein market. The COVID-19 pandemic further accelerated this trend as consumers prioritized health and wellness, leading to a 243% increase in plant-based food sales and a 14% rise in demand for meat-free and dairy-free options, according to New Food Magazine.
Know about the assumptions considered for the study
Pea protein's versatility in boosting protein content in shakes, smoothies, and energy drinks, coupled with its vegan and hypoallergenic properties, caters to a wide range of dietary needs. Additionally, its health benefits, including muscle growth support, weight management, and cardiovascular health, are expected to drive further market growth.
Key Pea Protein Industry Trends:
1. Growing Demand for Plant-Based Proteins: Increasing environmental concerns and animal welfare issues are driving consumers toward plant-based diets. Pea protein serves as a sustainable alternative to animal-derived proteins.
2. Health and Wellness Focus: Pea protein is valued for its health benefits, being low in fat, cholesterol-free, and rich in essential amino acids. It meets the demands of health-conscious consumers who prefer products with clean labels and natural ingredients.
3. Expansion of Product Offerings: The versatility of pea protein has led food and beverage manufacturers to incorporate it into a diverse range of products, including plant-based meats, dairy alternatives, sports nutrition items, and snacks. This diversification is boosting demand.
4. Technological Advancements: Innovations in food processing technology have enhanced the taste, texture, and functionality of pea protein, making it more appealing to consumers and suitable for a wider array of food applications.
5. Increased Retail Availability: Pea protein products are becoming more accessible through mainstream retail channels, including grocery stores, supermarkets, and online platforms, broadening the market reach.
In Europe, the growth of the pea protein market is driven by the food and beverage industries' adoption of this versatile plant-based ingredient. Europe's role in global trade impacts the accessibility of pea protein, influencing international production, pricing, and supply chains. The continent's focus on environmental sustainability aligns with pea protein's lower resource use and greenhouse gas emissions compared to animal-based proteins.
Leading Pea Protein Companies
- Roquette Frères (France)
- Cargill Incorporated (US)
- Glanbia PLC (Ireland)
- Kerry (Ireland)
- Ingredion Incorporated (US)
- Emsland Group (Germany)
- Yantai Shuangta Foods Co., Ltd (China)
- The Scoular Company (US)
How Pea Protein is Transforming Plant-Based Nutrition
· Complete Protein Source: Pea protein provides all nine essential amino acids, making it a valuable protein source for plant-based diets and comparable to animal-derived proteins in supporting muscle growth and overall health.
· Sustainability: With lower water and land requirements and reduced environmental impact, pea protein contributes to sustainable food production practices.
· Allergen-Friendly: Its hypoallergenic and gluten-free nature makes it accessible to individuals with common food allergies or intolerances.
· Versatility: Pea protein's adaptability allows it to be used in a wide variety of food and beverage products, maintaining taste and texture without compromise.
· Health Benefits: It supports muscle recovery, weight management, and cardiovascular health, while also providing antioxidants and phytonutrients.
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