Pea Protein Industry Size, Share, Growth and Forecast Through 2032
The global pea protein industry was valued at USD 580.61 million in 2023 and is anticipated to grow from USD 649.36 million in 2024 to USD 1,644.67 million by 2032, exhibiting a CAGR of 12.32% during the forecast period (2024–2032). North America accounted for the largest share of the market in 2023, holding 36.33%, supported by the increasing incorporation of pea protein into a wide range of food and beverage applications.
In the United States, the market is projected to reach an estimated USD 396.14 million by 2032, fueled by rising consumer interest in plant-based, allergen-free, and functional protein ingredients commonly used in energy bars, healthy snacks, and protein shakes.
Peas, a leguminous crop, are rich in protein content (20–30%) primarily found in globulins, which are the key protein fractions in pea protein isolates (PPI). Pea protein is derived through wet- and dry-milling processes, yielding protein concentrations between 48% and 90%. Its notable functional characteristics—including water and oil-binding capacity, foam stability, emulsification, and gelation properties—make it an essential ingredient across various food formulations and dietary supplements.
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Impact of COVID-19 The COVID-19 pandemic initially disrupted global supply chains and industrial operations due to widespread lockdowns. However, the food, beverage, and nutraceutical sectors demonstrated remarkable resilience. From early 2020 onward, growing awareness of health and immunity led to a surge in demand for plant-based nutritional products, driving consistent growth in the pea protein market despite production challenges.
Market Segmentation The global pea protein market is categorized by type into isolates, concentrates, and textured pea protein; by application into meat alternatives, bakery products, supplements, beverages, and others; and by region into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. These segments highlight the broad utilization of pea protein across various industries and geographical regions, driven by evolving consumer health consciousness, shifting dietary preferences, and varying degrees of market development around the world.
Market Drivers and Challenges 1. Growing Demand for Plant-Based and High-Protein Diets Global consumers are increasingly seeking natural, high-protein, and immune-boosting food products. The shift toward veganism and flexitarianism, particularly in Europe and North America, has elevated the demand for sustainable and allergen-free protein sources such as pea protein. Its nutritional profile and textural functionality make it a preferred alternative to animal-based proteins in meat substitutes, bakery items, and fortified beverages.
Functional Versatility and Nutritional Benefits Pea protein’s superior emulsification, solubility, and stabilization properties enhance product texture and consistency, encouraging its adoption in functional foods and beverages. Its amino acid composition and non-GMO nature further strengthen its appeal among health-conscious consumers.
Challenges – Digestive Sensitivity Among Certain Consumers While the market outlook remains highly positive, a subset of consumers report digestive discomfort linked to pea protein consumption. This factor could limit rapid adoption in certain demographic segments, prompting ongoing product innovation focused on improved digestibility.
Regional Insights North America: North America continues to dominate the market, driven by high demand for protein-enriched foods, technological innovation, and the strong presence of leading pea protein producers. Consumers’ focus on wellness, fitness, and clean-label nutrition remains a major growth driver in this region. Europe: Europe is experiencing rapid market expansion owing to the rising popularity of vegan and vegetarian lifestyles. Countries such as Germany, the U.K., and France are witnessing surging demand for sustainable, natural protein ingredients, aligning with regional efforts to reduce dependence on animal-based products. Asia Pacific: The Asia Pacific market is poised for significant growth throughout the forecast period. This expansion is supported by a growing middle-class population, rising disposable incomes, and a marked shift toward plant-based and functional diets in countries like China, Japan, and India. Increased health awareness and dietary diversification are further accelerating regional market penetration.
Competitive Landscape The global pea protein market is moderately consolidated, with key players focusing on strategic collaborations, mergers, acquisitions, and new product launches to strengthen their competitive edge and align with shifting consumer trends. Companies are investing in product innovation, bio-based protein development, and expansion into emerging economies to capture growing demand.
Key Companies in the Global Pea Protein Market: Roquette Frères (France) Burcon Nutrascience Corp (Canada) The Scoular Company (U.S.) DuPont (U.S.) Cosucra Groupe Warcoing (Belgium) Nutri-Pea Limited (Canada) Shandong Jianyuan Group (China) Kerry Inc. (Ireland) Sotexpro SA (France) Puris Protein LLC (U.S.)
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Recent Developments March 2020 – Burcon Nutrascience Corp received a “Letter of No Objection” from the U.S. FDA for its Peazazz and Peazac pea protein products, approving their use in a wide range of food and beverage formulations globally.