Pea Processed Ingredients Market Size, Share & Growth Trends

The global pea processed ingredients market is expected to value at USD 3.1 billion in 2021 and is projected to reach nearly USD 5.0 billion by 2026, growing at a CAGR of 10.1% during the forecast period (2021-2026). Growth in the demand for pea processed ingredients in the end-user application industries is driving the market growth of pea processed ingredients. Further, increase in the demand for gluten free products is also a major factor resulting to the rise in the demand for pea processed ingredients.

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By type, the pea protein segment is estimated to hold the largest share in the pea processed ingredients market.

The pea protein segment dominated the market in 2020 and is expected to display similar trend in the coming years. Pea protein in food with neutral taste extracted mostly from yellow peas and split peas and has a typical legume amino acid profile. While its amino acid profile is similar to whey protein. Peas are particularly high in arginine, lysine, and phenylalanine. Consumers concerned about current meat-producing processes and the trend of eating healthier are inclining consumers toward alternative proteins. Their well-balanced profile fulfills the essential amino acid requirements outlined by the World Health Organization for adults. It is highly used in smoothies and shakes in recent years and is also a great fit for almost any diet since it's naturally vegan. It is also a great source of iron. It can aid muscle growth, weight loss, and heart health. Owing to it is functional properties, it is gaining popularity among consumers.

By application type, the functional food segment is expected to witness the fastest growth during the forecast period

The functional foods considered for the study include infant nutrition, nutritional supplements, dairy products, plant-based yogurt, plant-based creamers, plant-based butter, and other food products fortified with additional nutrients. The incorporation of pea processed ingredients adds to the shelf-life of the functional food products, along with the improvement of the textural and sensory characteristics, owing to their water-binding capacity, gel-forming ability, fat mimetic, anti-sticking, anti-clumping, texturizing, and thickening effects. The manufacturers are looking into this opportunity to serve breakfast options fortified with healthy pea fibers. The inulin enhances the fiber content of the cereals and reduces sugar, making it a popular choice among consumers. The usage of pea processed ingredients food ingredients in the manufacturing of functional food products is expected to provide nutritive health benefits, prevent/resist chronic diseases, or act as energy boosters. The addition of functional food ingredients aids in the provision of nutritive benefits, over and above the basic nutritive capacities of traditional food products.

By source type, the yellow split peas segment is projected to grow at the fastest CAGR in the pea processed ingredients market until 2026.

The demand for yellow split peas is high owing to presence of high protein content and popularity among the food manufacturers. There is rising production of yellow peas over the years owing to the increasing demand of the same. For instance, according to the 2018 American Pulse Association Data, dry peas rank fourth in terms of the world production of food legumes below soybeans, peanuts, and dry beans. They have also reported that yellow peas and green peas, along with other minor classes, are the most commonly grown, with yellow peas accounting for approximately two-thirds of the US production. Yellow split peas are also regarded as high in fiber and is considered taste neutral thereby resulting to rising application of the same in the food and beverage products.

The increasing demand for plant based food products, in the North America region is driving the market growth

In North America, Canada is the largest dry pea-producing nation and also the largest exporter for the same in the world. However, the highest consumption of pea protein in the US, and Canada together drives significant manufacturing potential in terms of processing technology and availability of raw materials, due to the high growth potential of the pea processed ingredients market in North America. The use of meat and dairy substitutes from plants in burgers, nuggets, and many other foods is growing, which is driving the demand for pea ingredients, such as proteins, starch, and flours. According to a report published by Agri-Canada, for the year 2019-2020, dry pea production in Canada was estimated to rise by 30% to 4.7 million tonnes (Mt).

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The key players in this market include Emsland Group (Germany), DuPont (US), Kerry (Ireland), COSUCRA Groupe Warcoing SA (Belgium), Roquette Frères (France), Vestkorn Milling AS (Norway), Ingredion Incorporated (US), Axiom Foods, Inc (US), Felleskjøpet Rogaland Agder (Norway), AGT Food and Ingredients (Canada), Parrheim Foods (Canada), Puris Foods (US), Meelunie B.V (Netherlands) among others.

These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.

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