The global pea protein market was valued at USD 580.61 million in 2023 and is anticipated to increase from USD 649.36 million in 2024 to USD 1,644.67 million by 2032, reflecting a compound annual growth rate (CAGR) of 12.32% between 2024 and 2032. In 2023, North America held the leading position with a 36.33% share of the market.
In the United States, the pea protein sector is expected to see remarkable expansion, projected to reach around USD 396.14 million by 2032. This growth is primarily fueled by the increasing preference for plant-based and nutritious protein ingredients, which are widely used in products such as protein shakes, energy bars, healthy snacks, and other functional foods.
Pea is a leguminous crop, with its seeds containing a significant proportion of protein (20–30%), primarily present as globulins—the main component of pea protein isolate (PPI). Production methods for pea protein include both wet-milling and dry-milling processes, resulting in protein concentrations ranging between 48% and 90%. PPI and concentrates exhibit several valuable functional properties, including nutritional value, oil- and water-binding capacity, foam stability and expansion, whip ability, emulsion stability, and gelling characteristics.
The COVID-19 pandemic disrupted global industrial output due to strict lockdowns, which hindered manufacturing, supply chains, and transportation activities worldwide. Despite this, the food & beverage and pharmaceutical sectors proved resilient, with demand for packaged food, beverages, and dietary supplements experiencing significant growth from early 2020 onward.
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Market Segmentation
The pea protein market is segmented by type into isolates, concentrates, and textured pea protein. Based on application, the market is categorized into meat alternatives, bakery products, nutritional supplements, beverages, and others. From a regional perspective, the market is assessed across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Highlights
This report provides a detailed overview of industry developments, including mergers, acquisitions, joint ventures, and innovation-focused collaborations. It also analyzes product innovations and evaluates how the post-pandemic environment continues to shape industry performance.
Key Drivers and Challenges
Shift Toward Healthy Diets Fuels Growth
Rising global interest in high-protein diets that support immune health has been a major growth driver. In Europe, growing vegan and vegetarian populations are further boosting demand for pea-derived proteins. Increasing consumer awareness about the nutritional and functional benefits of plant-based proteins is accelerating adoption. However, concerns over potential digestive issues related to pea protein may limit broader acceptance.
Regional Insights
North America Maintains Market Leadership
North America dominates the market, supported by strong consumer demand for protein-enriched snacks, cereals, and health-oriented food products. Continuous innovation and product development by regional players have further strengthened market growth.
In Europe, heightened health awareness and a surge in plant-based eating habits are driving demand. A rapidly growing vegan population in several countries across the region continues to be a key factor boosting market expansion.
Major Companies in the Market
- Roquette Frères (France)
- Burcon Nutrascience Corp (Canada)
- The Scoular Company (U.S.)
- DuPont (U.S.)
- Cosucra Groupe Warcoing (Belgium)
- Nutri-Pea Limited (Canada)
- Shandong Jianyuan Group (China)
- Kerry Inc. (Ireland)
- Sotexpro SA (France)
- Puris Protein LLC (U.S.)
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Competitive Landscape
Innovation and Collaborations Accelerate Growth
Leading players are increasingly focusing on strategic collaborations, partnerships, and acquisitions to enhance their global footprint and meet evolving consumer preferences. Emphasis on product innovation has also allowed companies to diversify offerings and address different dietary requirements.
For instance, in March 2020, Burcon Nutrascience Corp obtained a “Letter of No Objection” from the U.S. Food and Drug Administration (FDA) for its pea protein products, Peazazz and Peazac. This approval enabled their inclusion in a wide variety of food and beverage applications globally.
