Pea Protein Market Size, Share & Trends Analysis By Type, By Form, By Source, By Application, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030
Global pea protein devices market is projected to be worth USD 2788 million by 2030
According to SPER Market Research, the pea protein market is estimated to reach USD 2788 million by 2030 with a CAGR of 14.2%. Consumers from developed countries are moving towards plant-based diet due to health awareness. To substitute protein consumption from meat, vegan sources are gaining popularity.
Impact of COVID-19 on the Pea Protein Market
COVID-19 has both positive and negative impact on pea protein market. Production of pea protein is restricted due to shortage of labor and restrictions in exports and transports. However, increase in demand has also been observed among the consumers. The rising trend of veganism in western countries promote the consumption of pea protein to fulfil daily protein intake. With upliftment of restrictions, the supply chain is slowly getting restored to meet the production requirement.
Scope of the report:
Market size available for years
2019-2030
Base year considered
2021
Forecast period
2022-2030
Segments covered
By Type, By Form, By Source, By Application
Geographies covered
North America, Europe, APAC, Latin America, and the Middle East & Africa
Companies Covered
Axiom Foods, Inc, Burcon Nutrascience, Coscura Groupe Warcoing SA, DuPont, Emsland Group, Fenchem Inc., Ingredeion Inc., Martin & Pleasance, Nutri-Pea Ltd, Puris Foods, Rouquette Freres, Shandong Jianyuan Group, Sotexpro SA, The Green Labs LLC, The Scoular Company
Driver: Rising trend for veganism and plant-based products
Diet preferences are rapidly changing in western countries such as UK, US, France, Germany. The consumers are adopting veganism due to which animal-based products are not promoted included milk and milk products. In order to achieve daily protein intake, vegan sources are preferred. Rising health awareness for meat related allergies, lactose intolerance, plant-based products with non-allergen properties are consumed.
Restraints: High production cost
The process of pea protein production is high costly and requires heavy equipment. On the other hand, consumers are more aware about soy protein which is also easy to produce in large volumes to meet the high demand. Therefore, companies restraint from producing pea protein alone.
Opportunity: New applications of pea protein
Pea protein was earlier used as a meat substitute but now it is explored for various new applications. Pea protein is also used as an important ingredient in nutrition bars, beverages, snacks, bakery and confectionary to name a few.
Challenge: Supply constraints for pea protein sources
Pea protein is extracted from chickpeas, yellow peas, peas and lentils. The extracted protein is nearly about 15 to 20% of total peas. Thus, huge amount of peas are required to meet the demand for pea protein. Any disruption in the supply of peas can restrict the large production affecting the growth of this market.
Pea Protein Market by Type:
Based on type, market has been segmented into isolates, concentrates and textured
Pea Protein Market by Form:
Based on form, market has been segmented into Dry and Wet
Pea Protein Market by Sources:
Based on sources, market has been segmented into split yellow peas, lentils and chickpeas
Pea Protein Market by Application:
Based on application, the market is segmented into meat substitutes, performance nutrition, functional foods, snacks, beverages, bakery products and confectionary.
Meat substitute is a fastest growing segment by application for pea protein market. Textured pea protein is used as a key ingredient in the manufacturing of vegan meat for burgers, sausages.
Pea Protein Market by Region:
North America owns the largest share of this market owing to rising demand for gluten-free diet, increasing health awareness around consumption of red meat, shift towards veganism and presence of leading players. Asia Pacific is expected to show the fastest growth in this market due to rising awareness for nutrient rich diet, favorable regulatory framework and rising demand for sports nutrition/supplements.
According to SPER Market Research, the pea protein market is estimated to reach USD 2788 million by 2030 with a CAGR of 14.2%. Consumers from developed countries are moving towards plant-based diet due to health awareness. To substitute protein consumption from meat, vegan sources are gaining popularity.
Impact of COVID-19 on the Pea Protein Market
COVID-19 has both positive and negative impact on pea protein market. Production of pea protein is restricted due to shortage of labor and restrictions in exports and transports. However, increase in demand has also been observed among the consumers. The rising trend of veganism in western countries promote the consumption of pea protein to fulfil daily protein intake. With upliftment of restrictions, the supply chain is slowly getting restored to meet the production requirement.
Scope of the report:
Market size available for years
2019-2030
Base year considered
2021
Forecast period
2022-2030
Segments covered
By Type, By Form, By Source, By Application
Geographies covered
North America, Europe, APAC, Latin America, and the Middle East & Africa
Companies Covered
Axiom Foods, Inc, Burcon Nutrascience, Coscura Groupe Warcoing SA, DuPont, Emsland Group, Fenchem Inc., Ingredeion Inc., Martin & Pleasance, Nutri-Pea Ltd, Puris Foods, Rouquette Freres, Shandong Jianyuan Group, Sotexpro SA, The Green Labs LLC, The Scoular Company
Driver: Rising trend for veganism and plant-based products
Diet preferences are rapidly changing in western countries such as UK, US, France, Germany. The consumers are adopting veganism due to which animal-based products are not promoted included milk and milk products. In order to achieve daily protein intake, vegan sources are preferred. Rising health awareness for meat related allergies, lactose intolerance, plant-based products with non-allergen properties are consumed.
Restraints: High production cost
The process of pea protein production is high costly and requires heavy equipment. On the other hand, consumers are more aware about soy protein which is also easy to produce in large volumes to meet the high demand. Therefore, companies restraint from producing pea protein alone.
Opportunity: New applications of pea protein
Pea protein was earlier used as a meat substitute but now it is explored for various new applications. Pea protein is also used as an important ingredient in nutrition bars, beverages, snacks, bakery and confectionary to name a few.
Challenge: Supply constraints for pea protein sources
Pea protein is extracted from chickpeas, yellow peas, peas and lentils. The extracted protein is nearly about 15 to 20% of total peas. Thus, huge amount of peas are required to meet the demand for pea protein. Any disruption in the supply of peas can restrict the large production affecting the growth of this market.
Pea Protein Market by Type:
Based on type, market has been segmented into isolates, concentrates and textured
Pea Protein Market by Form:
Based on form, market has been segmented into Dry and Wet
Pea Protein Market by Sources:
Based on sources, market has been segmented into split yellow peas, lentils and chickpeas
Pea Protein Market by Application:
Based on application, the market is segmented into meat substitutes, performance nutrition, functional foods, snacks, beverages, bakery products and confectionary.
Meat substitute is a fastest growing segment by application for pea protein market. Textured pea protein is used as a key ingredient in the manufacturing of vegan meat for burgers, sausages.
Pea Protein Market by Region:
North America owns the largest share of this market owing to rising demand for gluten-free diet, increasing health awareness around consumption of red meat, shift towards veganism and presence of leading players. Asia Pacific is expected to show the fastest growth in this market due to rising awareness for nutrient rich diet, favorable regulatory framework and rising demand for sports nutrition/supplements.
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3. COVID-19 Impact of the Pea Protein Market
4.4. Market Trends
5. GLOBAL PEA PROTEIN MARKET, BY TYPE, 2019-2030 (USD MILLION)
5.1. Isolates
5.2. Concentrates
5.3. Textured
6. GLOBAL PEA PROTEIN MARKET, BY FORM, 2019-2030 (USD MILLION)
6.1. Dry
6.2. Wet
7. GLOBAL PEA PROTEIN MARKET, BY SOURCE, 2019-2030 (USD MILLION)
7.1. Split Yellow Peas
7.2. Lentils
7.3. Chickpea
8. GLOBAL PEA PROTEIN MARKET, BY APPLICATION, 2019-2030 (USD MILLION)
8.1. Meat Substitutes
8.2. Performance Nutrition
8.3. Functional Food
8.4. Snacks
8.5. Beverages
8.6. Bakery Products
8.7. Confectionary
9. GLOBAL PEA PROTEIN MARKET, BY GEOGRAPHY, 2019-2030 (USD MILLION)
9.1. North America
9.1.1. US
9.1.2. Canada
9.2. Europe
9.2.1. Germany
9.2.2. UK
9.2.3. France
9.2.4. Italy
9.2.5. Spain
9.2.6. Rest of Europe
9.3. Asia-Pacific
9.3.1. China
9.3.2. Japan
9.3.3. India
9.3.4. Rest of Asia-Pacific
9.4. Rest of the World
9.4.1. Latin America
9.4.2. Middle East & Africa
10. COMPETITIVE LANDSCAPE
10.1. Introduction
10.2. Market Share Analysis, By Key Players
10.3. Competitive Scenario
10.3.1. Product Launches
10.3.2. Partnerships, Collaborations and Agreements
10.3.3. Acquisitions
10.3.4. Expansions
10.3.5. Other Developments
11. COMPANY PROFILES
11.1. Axiom Foods, Inc
11.2. Burcon Nutrascience
11.3. Coscura Groupe Warcoing SA
11.4. DuPont
11.5. Emsland Group
11.6. Fenchem Inc.
11.7. Ingredeion Inc.
11.8. Martin & Pleasance
11.9. Nutri-Pea Ltd
11.10. Puris Foods
11.11. Rouquette Freres
11.12. Shandong Jianyuan Group
11.13. Sotexpro SA
11.14. The Green Labs LLC
11.15. The Scoular Company
12. APPENDIX
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3. COVID-19 Impact of the Pea Protein Market
4.4. Market Trends
5. GLOBAL PEA PROTEIN MARKET, BY TYPE, 2019-2030 (USD MILLION)
5.1. Isolates
5.2. Concentrates
5.3. Textured
6. GLOBAL PEA PROTEIN MARKET, BY FORM, 2019-2030 (USD MILLION)
6.1. Dry
6.2. Wet
7. GLOBAL PEA PROTEIN MARKET, BY SOURCE, 2019-2030 (USD MILLION)
7.1. Split Yellow Peas
7.2. Lentils
7.3. Chickpea
8. GLOBAL PEA PROTEIN MARKET, BY APPLICATION, 2019-2030 (USD MILLION)
8.1. Meat Substitutes
8.2. Performance Nutrition
8.3. Functional Food
8.4. Snacks
8.5. Beverages
8.6. Bakery Products
8.7. Confectionary
9. GLOBAL PEA PROTEIN MARKET, BY GEOGRAPHY, 2019-2030 (USD MILLION)
9.1. North America
9.1.1. US
9.1.2. Canada
9.2. Europe
9.2.1. Germany
9.2.2. UK
9.2.3. France
9.2.4. Italy
9.2.5. Spain
9.2.6. Rest of Europe
9.3. Asia-Pacific
9.3.1. China
9.3.2. Japan
9.3.3. India
9.3.4. Rest of Asia-Pacific
9.4. Rest of the World
9.4.1. Latin America
9.4.2. Middle East & Africa
10. COMPETITIVE LANDSCAPE
10.1. Introduction
10.2. Market Share Analysis, By Key Players
10.3. Competitive Scenario
10.3.1. Product Launches
10.3.2. Partnerships, Collaborations and Agreements
10.3.3. Acquisitions
10.3.4. Expansions
10.3.5. Other Developments
11. COMPANY PROFILES
11.1. Axiom Foods, Inc
11.2. Burcon Nutrascience
11.3. Coscura Groupe Warcoing SA
11.4. DuPont
11.5. Emsland Group
11.6. Fenchem Inc.
11.7. Ingredeion Inc.
11.8. Martin & Pleasance
11.9. Nutri-Pea Ltd
11.10. Puris Foods
11.11. Rouquette Freres
11.12. Shandong Jianyuan Group
11.13. Sotexpro SA
11.14. The Green Labs LLC
11.15. The Scoular Company
12. APPENDIX
