Pea Protein Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Pea Protein Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global pea protein market size reached US$ 975.3 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,063.1 Million by 2028, exhibiting a growth rate (CAGR) of 13.18% during 2023-2028. The rising health awareness among consumers about maintaining healthy lifestyle, a wide availability through different distribution channels, and increasing adoption of veganism among individuals represent some of the key factors driving the market.

Pea protein refers to the protein powder that is extracted from yellow peas. It comprises various nutrients, such as iron, sodium, fiber, calories, carbohydrate, protein, and essential amino acids. It is widely available as isolate, concentrate, and textures pea protein in different packaging sizes. It is gluten and lactose-free, easily digestible, vegan-friendly, and has a creamier texture. It offers enhanced heart health, prevents several cardiovascular diseases, and promotes appetite control and manages weight loss. It assists in improving the nutrient content of the diet, enhancing muscle strength, and maintaining high cholesterol and blood pressure among individuals. Besides this, it may also aid in preventing kidney problems, such as cysts, urinary tract infections (UTIs), and kidney stones. As a result, pea protein is widely employed in energy bars, meal-replacement shakes, burgers, and cereals across the globe.

Pea Protein Market Trends:

At present, the rising demand for pea protein due to the increasing awareness among consumers about eating a healthy diet represents one of the key factors supporting the growth of the market. Besides this, the growing demand for high protein diet among individuals due to busy lifestyles and improper eating habits is offering a positive market outlook. Additionally, there is a rise in the need for non-toxic, non-allergic, and easily digestible food products among the masses around the world. This, coupled with the increasing demand for pea protein among fitness enthusiasts and sportspersons, is propelling the growth of the market. Apart from this, the rising demand for pea protein among consumers due to the increasing adoption of veganism among individuals around the world is offering lucrative growth opportunities to industry investors. Moreover, the wide availability of pea protein through online and offline distribution channels across the globe is positively influencing the market. In addition, the growing utilization of pea protein in beverages, meat substitutes, dietary supplements, and bakery products is contributing to the growth of the market. Furthermore, the rising demand for pea protein, as it aids in treating various health disorders, such as diabetes, heart attack, and kidney diseases is strengthening the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global pea protein market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type, application and end user.

Product Type Insights:

Isolates
Concentrates
Textured


The report has provided a detailed breakup and analysis of the pea protein market based on the product type. This includes isolates, concentrates, and textured. According to the report, isolates represented the largest segment.

Application Insights:

Dietary Supplements
Bakery Products
Meat Substitutes
Beverages
Others


A detailed breakup and analysis of the pea protein market based on the application has also been provided in the report. This includes dietary supplements, bakery products, meat substitutes, beverages, and others. According to the report, meat substitutes accounted for the largest market share.

End-User Insights:

Retail
Institutional


A detailed breakup and analysis of the pea protein market based on the end-user has also been provided in the report. This includes retail and institutional. According to the report, retail accounted for the largest market share.

Regional Insights:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America


The report has also provided a comprehensive analysis of all the major regional markets, which include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. According to the report, Europe was the largest market for pea protein. Some of the factors driving the Europe pea protein market included the growing demand for pea protein in various sports drinks, rising fitness clubs and gym centers, increasing demand for vegan diet, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global pea protein market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Axiom Foods, Inc., Cosucra-Groupe Warcoing, Nutri-Pea Limited, Roquette Freres, Shandong Jianyuan Foods Co., Ltd, Sotexpro SA, The Scoular Company, Naturz Organics, Fenchem, Glanbia Plc, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:

What was the size of the global pea protein market in 2022?
What is the expected growth rate of the global pea protein market during 2023-2028?
What are the key factors driving the global pea protein market?
What has been the impact of COVID-19 on the global pea protein market?
What is the breakup of the global pea protein market based on the product type?
What is the breakup of the global pea protein market based on the application?
What is the breakup of the global pea protein market based on the end user?
What are the key regions in the global pea protein market?
Who are the key players/companies in the global pea protein market?