Pea Protein Market - Global Industry Dynamics 2019-2020, Trends and Forecast 2021-2028

Pea proteins are derived from yellow peas (pisum sativum), which can be present in isolates, textured, and concentrates shapes. Such products are made from plant-based sources, making them suitable for vegetarian diet-opting consumers. In addition, they are easily digestible, non-allergic, and non-toxic products with enormous potential for application in meat substitutes, drinks, cereals, sports supplements, and bakery products. These products also have excellent taste and emulsification abilities, along with a high concentration of branched amino acids that should drive the demand for pea protein products in the upcoming years.

Driving & Restraining Factors:

  • Increasing market awareness and the growing vegan population has led to a strong product demand

  • Demand for pea protein in the global market is increasing, as key market players are attempting to create vegetarian products that suit consumer needs

  • Rapid urbanization and increasing population is a major driver for the pea protein market

  • The rise in customer shift toward the consumption of pea protein product is fueling the market growth

  • Growing demand for products containing pea protein is anticipated to boost the vegan market in the near future

  • Demand for pea proteins products is increasing at a significant rate in the food & beverages industry for vegetarian consumers

  • Other major factors are fitness and health benefits that would create awareness among consumers in developing countries, which helps to digest meat alternatives easily

  • Increasing concerns about products and dependence on animals give rise to higher levels of consumers who follow a flexitarian diet, which involves pea protein products as the main nutritional ingredient in the upcoming years. However, the buying patterns of customers is changing for pea protein products.

  • In the pea protein market in developed markets across the globe, food allergy rates are rising with food awareness influencing consumer preferences

Key Trends:

  • Government regulatory norms and approvals regarding health claims for soy protein, along with the use of pea protein in functional food & beverages that can boost the demand for plant protein market in upcoming years. However, this should increase the total protein content and add beneficial properties that will have a positive impact on consumer development.

Market Segmentation:

  • The global pea protein market can be segmented based on type, form, application, distribution channel, and region

  • Based on type, the pea protein market can be segmented into powder, liquid, and others

  • Based on form, the pea protein market is further segmented into protein isolates, protein concentrates, textured protein, and hydrolyzed proteins

  • In terms of application, the pea protein market can be divided into a bakery, nutritional supplements, meat extenders & substitutes, beverages, snacks, confectionery, and others

  • In terms of the distribution channel, the pea protein market can be bifurcated into offline and online. An offline channel can be sub-divided into specialty or retail stores and departmental stores. The online distribution channel is sub-segmented into company-owned websites and e-Commerce websites.

  • The pea protein market can be divided into North America (U.S., Canada, and Rest of North America), Europe (U.K., Germany, France, Italy, and Rest of Europe), Asia Pacific (China, India, Japan, and Rest of Asia Pacific), Middle East & Africa (GCC Countries, South Africa, and Rest of the Middle East & Africa), and South America (Brazil and Rest of South America)

Competition Landscape:

  • Key players operating in the global pea protein market are AxiomFoods, Kerry Inc., Rouquette Group, Ingredion, Emsland Group, Puris, FENCHEM, DuPont, Glanbia plc, The Green Labs LLC, A&B Ingredients, The Scoular Company, Burcon, COSUCRA, Shandong Jianyuan Group, AGT Food and Ingredients, Yantai Shuangta Food co., LTD, Batory Foods, and SOTEXPRO

Segments:

  • By Type:

    • Powder

    • Liquid

    • Others

  • By Forms:

    • Protein Isolates

    • Protein Concentrates

    • Textured Proteins

    • Hydrolyzed Proteins

  • By Application

  • By Distribution Channel

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