Pea Protein Market to Reach $1.31 Billion by 2031, Growing at a CAGR of 14.2%

Meticulous Research®-a leading global market research company, published a research report titled Pea Protein Market-Global Opportunity Analysis and Industry Forecast (2024-2031). According to this latest publication from Meticulous Research®, the pea protein market is projected to reach $1.31 billion by 2031, at a CAGR of 14.2% from 2024 to 2031.

The growth of the pea protein market is underpinned by several key factors. These include the increasing interest in plant-based nutrition, the burgeoning health & wellness trends, the expanding plant-based food market, and rising consumer awareness for the nutritional benefits of peas and pea-based products. Moreover, the growing focus of key players in developing innovative pea protein ingredients further fuels the growth of the pea protein market.

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Key Players:

The pea protein market (Erbsenproteinmarkt) is moderately competitive due to the presence of large and small-sized global, regional, and local players. The leading players operating in the pea protein market are Roquette Freres (France), AGT Food and Ingredients Inc. (Canada), Cargill, Inc. (U.S.), Ingredion Incorporated (U.S.), Archer-Daniels-Midland Company (U.S.), Axiom Foods Inc. (U.S.), Burcon NutraScience Corporation (Canada), Glanbia Plc. (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro Sa (a part of GEMEF Industries) (France), Farbest-Tallman Foods Corporation (U.S.), Shandong Jianyuan Foods Co., Ltd. (China), The Emsland Group (Germany), and Nutri-Pea Ltd. (Canada).

Key Drivers Fueling Pea Protein Market Growth:

A primary factor energizing the pea protein market is the mounting consumer preference for plant-based nutrition. As health consciousness grows worldwide, more individuals seek protein sources that are not only nutritious but also clean-label, hypoallergenic, and environmentally sustainable. Pea protein offers a complete amino acid profile, making it a compelling alternative to animal-based proteins, which have long dominated global diets but are linked to health concerns such as cardiovascular disease and obesity.

The surge in plant-based food demand aligns with evolving lifestyle trends focused on wellness, weight management, and preventive health. Pea protein's versatility to enhance nutritional content while maintaining desirable texture and sensory qualities has catalyzed its incorporation into a broad spectrum of food products-from nutritional supplements and bakery items to meat and dairy alternatives. Moreover, the ingredient's sustainable footprint, derived from legumes that require less water and energy compared to animal farming, resonates strongly with eco-conscious consumers, thereby boosting market expansion.

Beyond health and sustainability, the pea protein market benefits from technological advances in processing techniques, including wet and dry fractionation methods, which improve protein purity and functionality, enabling manufacturers to tailor products to diverse applications. These advancements lower production costs and environmental impact, further encouraging adoption by food formulators globally.

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Future Trends could Shape Pea Protein Market Expansion:

Several future trends are poised to significantly shape the expansion of the global pea protein market in the coming years. First, there is a rising demand for functional foods and health-oriented products. Consumers increasingly seek foods that provide health benefits beyond basic nutrition, such as weight management, muscle building, and satiety support. Pea protein's balanced amino acid profile and functionality make it ideal for incorporation into functional foods and beverages, driving product innovation and market growth.

The growing vegan, vegetarian, and flexitarian populations also fuel demand for plant proteins like pea protein, especially as these consumers seek complete, allergen-friendly protein sources that fit their lifestyles. Innovation in food formulations is another important trend. There is a continuous push for new pea protein applications, including plant-based meat substitutes, dairy alternatives, snacks, and protein-enriched beverages. Advances in processing technology improve taste, texture, and versatility, enabling pea protein to be used in diverse and appealing product formats.

Expansion into sports nutrition and dietary supplements further boosts market growth. Pea protein's hypoallergenic properties and efficacy in muscle repair or growth support its penetration into sports nutrition and clinical dietary supplements, segments expected to grow robustly.

Regional Market Growth and Opportunities:

The growth trajectory of the pea protein market is supported by significant regional developments. North America currently holds the largest market share due to its well-established food and beverage industry, widespread consumer awareness, robust pea production, and a rising vegan population. The region's dynamic ecosystem of startups alongside dominant ingredient suppliers drives continuous product innovation and market expansion.

However, the Asia-Pacific region is projected to experience the fastest growth, with an estimated CAGR exceeding 16% through 2031. This rapid expansion stems from increasing urbanization, rising disposable incomes, growing health consciousness, and a burgeoning interest in protein-rich diets. Countries like China and India are rapidly adopting plant-based nutrition, strengthening demand for pea protein in meat alternatives, nutrition supplements, and functional foods. The region also benefits from evolving food industry infrastructure and localization efforts by multinational companies.

Other emerging markets in Latin America, the Middle East, and Africa are gradually unlocking growth potential fueled by changing dietary preferences and increasing availability of pea protein-based products.

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Key Questions Answered in the Report:
• What is the revenue generated from the sale of pea protein globally?
• At what rate is the demand for pea protein expected to grow for the next 5-7 years globally?
• What is the historical market size and growth rate for the pea protein market?
• What are the major factors impacting the growth of this market at the country and regional levels?

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