In 2023, the global pea protein market was valued at USD 580.61 million. The market is expected to rise to USD 649.36 million by 2024 and reach around USD 1,644.67 million by 2032. This growth reflects a compound annual growth rate (CAGR) of 12.32% between 2024 and 2032. North America dominated the market in 2023, holding 36.33% of the global share. The U.S. market is projected to expand significantly, with forecasts indicating it could reach USD 396.14 million by 2032. This growth is largely fueled by rising demand for plant-based protein options in energy bars, functional foods, and protein-enriched beverages.
What is Pea Protein?
Pea protein is extracted from the seeds of peas, which typically contain 20–30% protein content. The main protein type found in peas is globulin, which forms the basis of pea protein isolate (PPI). Extraction processes like wet and dry milling produce protein concentrations ranging from 48% to 90%. Both pea protein isolates and concentrates exhibit valuable functional properties, including emulsification, foam stabilization, water and oil binding, gelatinization, and improved nutritional content.
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Market Segmentation
The pea protein market is segmented by type into isolates, concentrates, and textured pea protein. Based on application, it includes meat substitutes, bakery items, nutritional supplements, beverages, and others. Regionally, the market is analyzed across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Highlights
This market report offers a detailed assessment of current trends and developments, including mergers, acquisitions, joint ventures, and innovation-driven partnerships. It also explores the evolving product landscape and examines how the aftermath of the COVID-19 pandemic continues to influence market performance.
Key Drivers and Market Constraints
Health-Oriented Eating Habits Propel Market Expansion
A global shift toward protein-enriched diets—particularly those promoting immune health—is one of the key factors driving market growth. In Europe, the rise in vegan and vegetarian lifestyles is boosting the popularity of pea-derived protein. Increasing consumer awareness about the nutritional advantages of plant-based proteins is further encouraging adoption. However, potential digestive side effects linked to pea protein could present a barrier to widespread consumer acceptance.
Regional Insights
North America Leads the Market
North America remains the largest regional market, propelled by strong demand for protein-rich snacks, cereals, and wellness-oriented food products. Ongoing innovation among domestic manufacturers has also played a crucial role in boosting market momentum.
In Europe, rising health consciousness and expanding interest in plant-based diets are fostering significant market growth. The rapid increase in the vegan population across various countries in the region continues to support demand for pea protein products.
Major Companies in the Global Pea Protein Market
- Roquette Frères (France)
- Burcon Nutrascience Corp (Canada)
- The Scoular Company (USA)
- DuPont (USA)
- Cosucra Groupe Warcoing (Belgium)
- Nutri-Pea Limited (Canada)
- Shandong Jianyuan Group (China)
- Kerry Inc. (Ireland)
- Sotexpro SA (France)
- Puris Protein LLC (USA)
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Competitive Landscape
Innovation and Partnerships Drive Industry Growth
Top players are increasingly focusing on acquisitions, partnerships, and collaborative strategies to extend their global presence and adapt to shifting consumer trends. A strong emphasis on innovation has also allowed manufacturers to diversify their product lines and cater to varied dietary preferences.
For example, in March 2020, Burcon Nutrascience Corp received a “Letter of No Objection” from the U.S. Food and Drug Administration (FDA) for its proprietary pea protein products—Peazazz and Peazac. This approval supports their use in a broad spectrum of food and beverage formulations worldwide.
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