Pea Protein Market Predicted to Reach USD 2,125.4 Million by 2033, Growing at a CAGR of 6.0%| Persistence Market Research

The global pea protein market has experienced significant growth in recent years and is poised to continue expanding in the coming years. The market size is projected to increase from US$ 1,181.7 million in 2024 to an estimated US$ 2,125.4 million by 2033, representing a compound annual growth rate (CAGR) of 6.0%. Pea protein is derived from yellow peas and is gaining popularity due to its health benefits and versatility in various applications. As consumers become more health-conscious and demand plant-based alternatives, the market for pea protein has surged, particularly in the health and wellness, food, beverage, and supplement industries.

Key growth drivers for the pea protein market include the rising consumer preference for plant-based, non-GMO, and allergen-free proteins. As urbanization increases globally, people are becoming more health-aware and are opting for natural and organic food products, which has further bolstered the demand for pea protein. Among the leading segments, food and beverage applications, particularly in protein supplements, snacks, and beverages, dominate the market. North America currently holds the largest share of the global pea protein market, driven by high demand from the U.S. for vegan protein sources and health-conscious consumers seeking lactose- and gluten-free products.

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Key Highlights from the Report

➤ The pea protein market is projected to grow at a value-based CAGR of 6.0% from 2024 to 2033.
➤ The market size is expected to reach US$ 2,125.4 million by 2033, up from US$ 1,181.7 million in 2024.
➤ North America is the leading geographical region, accounting for a significant market share.
➤ Food & beverage applications hold the largest share in the pea protein market, particularly in supplements and ready-to-eat products.
➤ The demand for allergen-free, lactose-free, and gluten-free products is a major driver of market growth.
➤ The growing trend of veganism is expected to further boost the demand for plant-based protein alternatives.

Market Segmentation

The pea protein market is segmented based on product type, end-user industry, and form. The key forms of pea protein include isolates, concentrates, and hydrolysates. Among these, pea protein isolates have the largest market share, accounting for nearly 49.6% of the market. This form of pea protein is highly valued for its nutritional content and is increasingly used in protein bars, smoothies, and plant-based meat alternatives.

In terms of end-users, the food and beverage industry dominates the pea protein market, followed by applications in dietary supplements, animal feed, cosmetics, and pharmaceuticals. The increasing use of pea protein in plant-based meat products and protein fortification in snacks and beverages is driving significant growth in this segment. Additionally, the demand for vegan and gluten-free products in the cosmetics and personal care industry is also contributing to the market's expansion.

Regional Insights

North America

North America, particularly the United States, is the largest market for pea protein globally. The region is witnessing a strong trend toward plant-based diets, with consumers increasingly seeking alternatives to animal-based proteins. The growing awareness of the benefits of pea protein, including its high amino acid profile and lack of allergens such as lactose and gluten, is driving demand in both the food and beverage sectors as well as dietary supplements.

Europe

Europe is another significant market for pea protein, with countries such as the United Kingdom and Germany leading the demand. The rising adoption of plant-based diets, supported by stringent regulations on health and sustainability, is a major factor influencing the market in this region. The demand for pea protein is particularly high in plant-based food products, including meat substitutes, dairy alternatives, and energy bars.

Market Drivers

The pea protein market is driven by several key factors, including the rising global demand for plant-based proteins and the growing health-consciousness among consumers. With the increase in awareness about the health benefits of pea protein, more consumers are seeking plant-based, non-allergenic alternatives to traditional animal-based proteins. Additionally, the surge in veganism and the rise of lactose-intolerant and gluten-sensitive populations are propelling the market forward.

Moreover, pea protein's versatility as an ingredient in a wide range of food and beverage products, from protein bars to meat substitutes, is a critical factor driving its demand. The environmental benefits of pea protein production, such as lower water usage and reduced greenhouse gas emissions compared to animal-based proteins, also contribute to the growing appeal of pea protein as a sustainable protein source.

Market Restraints

Despite the growth in demand, the pea protein market faces certain challenges that could hinder its expansion. One of the main concerns is the incomplete amino acid profile of pea protein, which may not be sufficient for some consumers seeking a 100% complete protein source. Although pea protein contains a good amount of essential amino acids, it does not provide all nine essential amino acids in the quantities found in animal-based proteins.

Another restraint is the increasing competition from other plant-based protein sources, such as soy, rice, and hemp protein. While pea protein is gaining popularity, the availability of numerous plant-based protein alternatives in the market provides consumers with a wide range of options, which may limit the growth potential of pea protein in certain segments.

Market Opportunities

The pea protein market presents several opportunities for growth. One significant opportunity is the increasing demand for allergen-free and vegan protein sources. As more consumers adopt plant-based diets and seek alternatives to dairy and meat products, the demand for pea protein is expected to rise. Additionally, the growing trend of functional foods and beverages, particularly those targeting health-conscious consumers, is expected to drive the consumption of pea protein in various product categories.

There is also a significant opportunity in the cosmetic and personal care industry. Pea protein's phytonutrient and antioxidant properties are being leveraged in the development of hair and skincare products. As consumers increasingly prioritize natural and plant-based ingredients in their beauty routines, the demand for pea protein in cosmetics is expected to grow.

Frequently Asked Questions (FAQs)

➤ How Big is the Pea Protein Market?
➤ Who are the Key Players in the Global Pea Protein Market?
➤ What is the Projected Growth Rate of the Pea Protein Market?
➤ What is the Market Forecast for the Pea Protein Market by 2033?
➤ Which Region is Estimated to Dominate the Pea Protein Industry through the Forecast Period?

Company Insights

The pea protein market is highly competitive, with key players investing in product innovation, expansion, and research and development. Some of the leading companies in the pea protein market include:

✦ Ingredion Incorporated
✦ Cargill Incorporated
✦ DuPont de Nemours Inc.
✦ AGT Food and Ingredients
✦ Glanbia Plc
✦ Axiom Foods Inc.
✦ Roquette Frères
✦ The Green Labs LLC

Recent Developments in the Pea Protein Market

■ DuPont de Nemours Inc. launched six new plant protein nuggets in 2018 as part of its TRUPRO 2000 Pea Protein line, expanding its presence in the plant-based protein market.
■ Axiom Foods Inc. introduced Vegotein MA, a non-GMO pea protein analogue, designed as a meat replacement in 2017, catering to the growing demand for plant-based alternatives.

Conclusion

The pea protein market is poised for substantial growth driven by increasing consumer demand for plant-based, allergen-free, and sustainable protein sources. As the global shift toward healthier, more sustainable diets continues, pea protein is emerging as a preferred choice across multiple industries, including food and beverage, dietary supplements, and cosmetics. With the market projected to grow steadily over the next decade, it presents significant opportunities for manufacturers and innovators within the plant-based protein space.

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