Pea Protein Ingredients Market Reach USD 6.78 billion by 2030 – Astute Analytica
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Pea protein is advantageous due to its accessibility, low allergenicity, and high nutritional content. Peas typically have a protein content of 23.1–30.9%, a fat content of 1.5–2%, and minor components such as phytic acid, vitamins, saponins, polyphenols, minerals, and oxalates. They also contain four different kinds of proteins, including globulin, albumin, prolamin, and glutelin. Between 60 and 65 percent of pea seeds consist of carbohydrates, primarily monosaccharides, oligosaccharides, disaccharides, and polysaccharides. Starch, the primary carbohydrate storage in the cotyledons, makes up most of the pea's carbohydrate composition.
Market Growth Factors
The primary factors driving the global pea protein ingredients industry include a change in consumer demand for organic, natural, and healthy food products and the rise in obesity and cardiovascular disease. Pea protein powder is widely used to increase the protein content of protein shakes, smoothies, and energy drinks because it is naturally vegan and hypoallergenic. It is an excellent source of iron and protein. It is also thought to promote weight loss, muscle growth, and heart health. These benefits of pea protein are likely to lead to growth in the global pea protein ingredients market.
The protein found in peas, namely yellow peas, has been demonstrated in numerous studies to be mild on the kidneys and to be able to decrease blood pressure and cholesterol. Unlike whey and casein, pea protein powder is naturally devoid of lipids and cholesterol and is produced in a "greener" and more environmentally friendly manner. As a result, consumer demand for healthy products and living is driving market expansion.
Additionally, increased cardiovascular and obesity-related illnesses are fueling market expansion. According to WHO, cardiovascular disease (CVD) is the leading cause of death worldwide, accounting for 17.9 million deaths in 2019. Pea protein, which is high in fiber, helps lower blood pressure and prevent cardiovascular disease by lowering cholesterol levels. Additionally, pea protein may be useful in reducing appetite, aiding those with food cravings and obesity in their efforts to lose weight.
Additionally, the developing food and beverage sector is offering a prosperous chance for market expansion. The food industry is constantly looking for protein components that are healthier, less expensive alternatives to animal- and gluten-based proteins. Pea protein has expanded due to the rising demand for meat alternatives, and it is now utilized to make plant-based sausages and burger patties.
Whereas, the accessibility of substitute proteins such as wheat, whey, and soy may impede the market growth.
Segmentation Analysis
In 2021, based on type, the pea protein isolates segment held a dominant share in the global pea protein ingredients industry. Due to their superior emulsification and non-allergic, isolates serve as nutritional supplements in energy drinks, meat products, fruit mixes, and bakery goods. Pea protein isolate also lacks some of the unfavorable side effects seen with some other kinds of processed foods. These advantages consequently aid in the growth of the global industry.
In 2021, in terms of source, the green pea segment had the maximum share of the global pea protein ingredients industry due to its antioxidant and nutritive qualities. Green peas are a great meal option because they are higher in fiber.
In 2021, based on form, the dry-form pea protein ingredient acquired a significant share in the global pea protein ingredients industry. Due to their qualities and high demand in several applications, dry-textured pea proteins hold a prominent position in the market. Because dry-textured pea proteins can mimic the texture of meat, their industrial prospects have improved as demand for applications like plant-based meat has increased. However, the liquid segment will record the highest growth rate over the analysis course.
In 2021, by application, the dairy alternatives segment accounted for the highest global pea protein ingredients industry share. This is due to the potential for allergies or sensitivities when using pea protein produced from dairies, such as whey or casein; in these situations, pea protein isolate is a great substitute. Developing nations such as China and India are increasingly using dietary supplements, and the food processing industry is quickly changing. Because of a rapidly expanding population with lots of disposable means and a desire for greater living standards, the majority of nutraceuticals became popular.
Regional Insights
In 2021, North America was the leading region in terms of global pea protein ingredients industry share. The development of the food and beverage sector in North America is responsible for the market's expansion. Additionally, the presence of significant industry competitors and the growing demand for gluten-free products are driving market expansion in the area.
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Leading Competitors
The prominent companies in the global pea protein ingredients market are:
Axiom Foods Inc.
Puris Protein LLC
Burcon NutraSciences
Ingredion Inc.
The Scoular Company
Sotexpro SA
Roquette Freres
Nutri-Pea Limited
Cosucra Groupe
Warcoing SA
Other Prominent Players
Recent Developments by these Players
In Dec 2021, Ingredion Inc and Grupo Arcor have decided to establish a joint venture to improve their food and beverage component supply to customers in Chile, Argentina, and Uruguay. The venture will merge its complementary geographic footprints, production expertise, and marketing skills.
In September 2021, Batory Foods and Ingredion had a new ingredient distribution contract inked. The arrangement widens Ingredion's distribution network in the US's West and Central Midwest, creating it simpler for food and beverage businesses to get the ingredients they need to produce and market their products.
In Sept 2021, Roquette Frères created a new center of expertise in France's Vic-Sur-Aisne. By focusing just on plant protein, this base will widen the scope of prospects in terms of food innovation, the discovery of novel proteins, and new manufacturing techniques.
In July 2021, Ingredion Incorporated unveiled VITESSENCE TEX Crumbles 102. The protein's texture Food manufacturers can produce popular alternative meat items for consumers with VITESSENCE TEX Crumbles 102 without compromising on taste or texture. The pea protein-branded textured protein has a protein content of 65% (dry weight).
In Sept 2020, Roquette Frères concentrated on constructing the biggest pea protein plant globally by the end of 2020 in Canada, which is located just outside the city of Winnipeg. The expansion of this new facility aims to meet the growing need for pea protein in a global marketplace.
Segmentation Outline
The global pea protein ingredients market segmentation focuses on Type, Source, Form, Application, and Region.
By Type Segment
Pea Protein Isolates
Pea Protein Concentrates
Textured Pea Protein
Pea Protein Hydrolysate
Pea Flour
Others Pea Protein
By Source Segment
Yellow Pea
Green Pea
By Form Segment
Dry
Liquid
By Application Segment
Nutrition and Health Supplements
Alternative Meat Products
Bakery & Confectionery Products
Dairy Alternatives
Cereals and Snacks
Beverages
o Ready-to-drink
o Others
Infant Nutrition
Animal Feed
Personal Care
Others
By Region Segment
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
South Korea
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
Saudi Arabia
South Africa
UAE
Rest of MEA
South America
Argentina
Brazil
Rest of South America
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