Pea Protein Market Size, Industry Growth, and Forecast by 2032
The global pea protein market was valued at USD 580.61 million in 2023 and is projected to rise from USD 649.36 million in 2024 to USD 1,644.67 million by 2032, registering a CAGR of 12.32% during 2024–2032. North America held the largest share of 36.33% in 2023, maintaining its dominance in the global market.
In particular, the U.S. pea protein market is expected to expand significantly, reaching approximately USD 396.14 million by 2032. This growth is primarily fueled by increasing consumer preference for plant-based, high-protein ingredients incorporated into energy bars, snacks, protein shakes, and other functional foods.
Pea, a leguminous crop, contains seeds rich in protein (20–30%), primarily composed of globulins, which are the core components in Pea Protein Isolate (PPI) formulations. Pea protein is produced using wet-milling and dry-milling technologies, yielding protein concentrations between 48% and 90%. PPI and pea protein concentrates offer several functional benefits, including oil and water-binding capacity, foam stability, emulsion formation, whip ability, and gelatinization properties, making them valuable ingredients across the food and beverage, bakery, and nutraceutical industries.
Information Source: https://www.fortunebusinessinsights.com/pea-protein-market-106053
Impact of COVID-19 The COVID-19 pandemic disrupted global manufacturing and supply chains due to widespread lockdowns across major economies, hampering production and transportation activities. However, the food & beverage and pharmaceutical sectors demonstrated strong resilience. During this period, global demand for nutritional supplements and health-oriented food products increased sharply as consumers focused more on immune health and well-being.
Market Segmentation The pea protein market is segmented as follows: By Type: Isolates, Concentrates, and Textured Pea Protein By Application: Meat Alternatives, Bakery Products, Supplements, Beverages, and Others By Region: North America, Europe, Asia Pacific, South America, and the Middle East & Africa These segments reflect distinct usage trends and consumer preferences across regions, influenced by dietary habits, protein intake awareness, and industrial adoption.
Key Market Highlights This report provides an in-depth evaluation of market drivers, challenges, and emerging opportunities, along with an analysis of mergers, acquisitions, partnerships, and product launches that have shaped the competitive landscape in the post-pandemic period.
Market Drivers and Challenges Rising consumer awareness of protein-rich diets that promote immune health and overall wellness is a major growth factor for the pea protein industry. Europe has emerged as a key growth region, supported by a growing vegan and vegetarian population seeking sustainable and natural protein sources. Pea protein’s versatile functional characteristics—including texture enhancement, emulsification, and stability—make it ideal for use in various food applications. However, a few challenges persist, as certain consumers report digestive discomfort after consuming pea protein, potentially limiting widespread adoption in some regions.
Regional Insights North America continues to lead the market, driven by robust demand for protein-enriched cereals, snacks, and health foods, coupled with strong innovation pipelines and the presence of established industry players. Meanwhile, Europe is witnessing rapid expansion due to rising veganism, vegetarianism, and plant-based awareness, especially in regions with a high concentration of health-conscious consumers. The Asia Pacific region is also showing promising growth potential, supported by expanding middle-class populations, rising disposable incomes, and a gradual shift toward plant-based nutrition.
Competitive Landscape Major market participants are focusing on strategic alliances, product diversification, and acquisitions to strengthen their global footprint and meet evolving dietary trends.
Leading Companies in the 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.)
Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/pea-protein-market-106053
Recent Developments March 2020: Burcon Nutrascience Corp received a “Letter of No Objection” from the U.S. FDA for its pea protein products Peazazz and Peazac, allowing their incorporation into a broad range of food and beverage applications worldwide.