The global pea protein market is projected to witness growth at a CAGR of 12.1% during the forecast period. Pea protein is a source of protein found in green, yellow, and black peas. It has properties like those of other forms of animal protein like whey or soy. Pea protein is a good choice for vegetarians because it contains all the essential amino acids needed. It benefits blood circulation and bone strength help with weight management, boosts metabolism, and even has healthy muscle-building properties. It can help regulate sugar levels. All pea protein products are gluten-free, vegan, and lactose-free. The benefits of a plant-based protein that is free of allergens, and sensitivities, and has been shown to improve health then pea protein is the right choice for an individual. Increasing demands for healthy products and the benefits of pea protein have doubled the demand and increased its popularity. The use of pea protein in many foods has caused an increase in demand for the product. Factors such as a trend towards living on a pea protein diet, increased food and beverages industries, and patents based around proteins have also contributed to the growth of the global pea protein market.
The COVID pandemic had a positive impact on the pea protein market. Sales decreased briefly during the first lockdown but quickly recovered as consumers began to accept healthier and more functional food options. Due to people's reliance on comfort meals rather than these healthy options, sales in these countries remained unchanged until the lockdown was reinstated in 2021. As a result, the pea protein market rose modestly at the start of a pandemic.
The global Pea Protein Market has been segmented based on type, source, application, and region.
By type, the global pea protein market has been segmented into concentrate, isolate, and textured. The isolated pea protein segment holds the largest market share in the global pea protein market. Due to the obvious increased knowledge of the benefits connected with pea protein isolates and their high protein content, their use has been steadily expanding in the global market. Its vast range of applications in snack bars, plant-based meats, and vegan protein powder is a driving force behind the global expansion of this industry.
By source, the global pea protein market has been segmented into yellow spit pea, chickpea, and lentils. The yellow split peas segment holds the largest market share in the global pea protein market because of the versatility and flexibility of peas in many product types, demand for yellow split peas is increasing in a variety of goods, including plant-based meat, drinks, functional foods, and performance nutrition. Yellow split peas are good for making pea protein isolates because of their high protein content. When compared to dairy and meat-based alternatives, they are valued for their amino acid composition, for which they have been labelled as "whole proteins."
Based on application, the global pea protein market has been segmented into dietary supplements, bakery confectionery goods, meat products alternatives, beverages, and others. The dietary supplement segment holds the largest market share in the global pea protein market. As the product is rich in amino-acid profile, outstanding water-binding properties, strong emulsification, and high solubility have aided its rate of adoption in food products, and it is expected to continue growing at a rapid rate.
Geographically, the global pea protein market has been categorized as North America, Europe, Asia-Pacific, and Rest of the World. The largest market for pea protein is North America, followed by Europe. Due to its growing health-conscious and western-influenced populations, Asia-Pacific is a growing market because of its high populations. Since the pea protein market in China has such large growth potential, many local producers are entering the market to cater to diverse pea protein products that serve as applications for various industry areas.
Key Pea Protein Market Players are –
AB Ingredients, Axiom Foods Inc, Ingredion Corporation, Cosucra Groupe Warcoing, GEMEF Industries, Glanbia Plc, Green Labs, Roquette Frères, AGT Food and Ingredients, Yantai Shuangta Food Co. Ltd
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