Pea Protein Market Expected to Surpass US$ 2.12 Bn by 2033 - Persistence Market Research

The global pea protein market has been steadily gaining traction and is poised for continued growth in the years ahead. In 2024, the market is projected to be valued at US$ 1,181.7 Mn, and it is anticipated to grow at a robust CAGR of 6.0% over the forecast period, reaching US$ 2,125.4 Mn by 2033. This momentum stems from increasing consumer awareness about health and wellness, along with growing demand for plant-based protein alternatives. Historically, between 2019 and 2023, the market recorded a CAGR of 5.3%, highlighting a consistent upward trend. One of the most influential growth drivers has been the rising inclination toward naturally sourced and allergen-free supplements.

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The isolates segment dominates the market by form, accounting for nearly 49.6% of the global market share due to its high nutritional content. Regionally, Europe emerges as the leading geography, driven by strong consumer adoption of veganism and demand for non-GMO, lactose-free food options. Within Europe, the UK stands out as the top contributor, with a valuation of US$ 46.3 Mn in 2024, attributed to high awareness of amino acid-rich diets and lifestyle-related health choices.

Key Highlights from the Report

➤ The pea protein market is projected to grow from US$ 1,181.7 Mn in 2024 to US$ 2,125.4 Mn by 2033.
➤ The market is expected to expand at a CAGR of 6.0% between 2024 and 2033.
➤ Isolates are the leading form type, capturing nearly half of the market share.
➤ Europe leads regional consumption, with the UK being the largest country-level market.
➤ Rising demand for gluten-free and lactose-free products is propelling market growth.
➤ Pea protein demand is further amplified by the global shift toward vegan and vegetarian diets.

Market Segmentation

The global pea protein market can be segmented based on nature, form, and end use. By nature, the market is divided into organic and conventional segments, with conventional dominating due to cost-efficiency and widespread availability. In terms of form, isolates lead the market, followed by concentrates and hydrolysates. End use spans across several industries including food and beverages (e.g., bakery, snacks, beverages), dietary supplements, animal feed, cosmetics and personal care, and pharmaceuticals. Among these, the food & beverage industry remains the largest consumer, driven by innovations in meat alternatives and functional beverages.

Regional Insights

Europe is the leading region in the global pea protein market, driven by high consumer awareness regarding plant-based nutrition and growing vegan populations. The United Kingdom holds the largest share in this region with a valuation of US$ 46.3 Mn in 2024. In South Asia & Pacific, India represents a high-growth country, witnessing a strong CAGR of around 10.1% due to rising health awareness and expanding middle-class demographics. North America also remains a major region due to increasing product launches and consumer preference for organic, non-GMO products.

Market Drivers

The surge in demand for naturally sourced, allergen-free protein options is a key driver. With increased prevalence of lactose intolerance and gluten sensitivity, pea protein-which is inherently free from common allergens-has become a preferred choice. The booming supplement industry and consumer inclination toward sustainable and non-animal protein sources further fuel the demand. Urbanization and evolving dietary habits, particularly in metropolitan regions, have led consumers to favor clean-label, plant-based diets, creating fertile ground for market expansion.

Market Restraints

One of the main constraints in the market is the growing number of substitute protein sources. Despite its benefits, pea protein lacks a complete amino acid profile and has higher carbohydrate content than some competitors. This has led consumers and manufacturers to explore alternatives such as brown rice protein and casein. Additionally, pricing and supply chain constraints in pea cultivation may pose challenges to seamless growth.

Market Opportunities

The growing interest in veganism and vegetarian diets across the globe presents a significant opportunity. Consumers increasingly seek protein-rich diets free from allergens and animal derivatives. Pea protein's suitability for cosmetics and personal care applications, due to its antioxidant and amino acid profile, creates new demand avenues. With only 1% of the global population having celiac disease compared to 68% experiencing lactose malabsorption, the large allergen-sensitive consumer base offers untapped potential for growth.

Reasons to Buy the Report

✔ Comprehensive analysis of global and regional trends influencing the market.
✔ Detailed segmentation to identify high-potential areas for investment.
✔ Insightful company profiling with strategic developments and market share.
✔ In-depth analysis of market dynamics, including drivers, restraints, and opportunities.
✔ Forecasting through 2033 with CAGR analysis and revenue projections.

Company Insights

• Ingredion Incorporated
• Cargill Incorporated
• DuPont de Nemours Inc.
• AGT Food and Ingredients
• Glanbia Plc
• Axiom Foods Inc.
• Roquette Frères
• The Green Labs LLC
• Bioway (Xi'an) Organic Ingredients Co. Ltd
• The Scoular Company
• NOW Health Group Inc.
• Aminola
• A&B Ingredients
• Vestkorn Milling AS
• Gemef Industries
• Greenway Organics (Tianjin) Co. Ltd
• Phyto-Therapy Pty Ltd
• PURIS
• Maxsun Industries Inc
• Farbest Brands

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