Global Pea Protein Ingredients Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2026


The Global Pea Protein Ingredients Market stood at 914. 14 million usd in 2021 and is projected to register a CAGR of 7. 22% to reach 1. 30 billion usd in 2026. Key Highlights

New York, Sept. 28, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Global Pea Protein Ingredients Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2026" -
Largest Segment by Form - Isolates : Higher protein content and lower carbohydrate content of pea isolates, compared to other forms, have increased their demand, making them the largest segment by form.
Largest Segment by End User - Food and Beverages : The F&B segment dominates the market due to high demand for pea protein as a meat alternative, since it provides quick rehydration, neutral taste, and texturizing properties.
Fastest Growing Segment by Form - Concentrates : Pea protein concentrates are costlier than isolates. However, their exceptional functionality and label-friendly claims may drive the segment during the forecast period.
Fastest Growing Segment by End User - Food and Beverages : The projected growth of the F&B sector is attributed to the constant product launches, driving the demand for pea protein in the meat alternative and snacks industries.

Key Market Trends

Largest Segment By End User : Food and Beverages

By end-user, food and beverage was the largest pea protein consumer, with a projected volume CAGR of 7.31% during the forecast period. This growth can be attributed to pea protein’s multifunctionality, including protein fortification and superior emulsifying characteristics. Pea protein is surfacing as an excellent vegan alternative for plant-based food, apart from soy protein. As a result, about 63.31% of pea protein consumed in food and beverage in 2020 was claimed by the meat and meat alternatives industry.
On the other hand, supplements remained the second-largest segment, driven majorly by sports/performance nutrition, with a projected CAGR value of 5.26% during the forecast period. The ingredient’s seamless dispersibility makes it an ideal option for supplement formulators. Pea protein blends very well with water and has a less gritty or chalky texture than other plant-based protein powders.

Largest Region : Asia-Pacific

Asia-Pacific dominates the global pea protein market, driven by the F&B sector. In addition, pea protein provides enough viscosity and creaminess, so local manufacturers use pea protein as a substitute for eggs in products, like Just Mayo. Pea protein has been touted as a label-friendly, gluten-free, and soy-free alternative. Along with holding the largest share, the Asia-Pacific regional segment is growing at a significant pace and is expected to witness a CAGR of 5.30% during the forecast period.
The segment is followed by Europe, which is primarily led by the F&B sector. In 2020, about 93% of pea proteins in the region were used in the F&B sector. The Middle East is projected to be the fastest-growing market, as the demand for natural and sustainable ingredients is rapidly growing due to the rise in health consciousness among consumers. Over the forecast period, the region is set to record a CAGR of 12.86%, by volume.

Competitive Landscape

The Global Pea Protein Ingredients Market is moderately consolidated, with the top five companies occupying 53.49%. The major players in this market are Archer Daniels Midland Company, DuPont de Nemours Inc., Ingredion Incorporated, Kerry Group and Yantai Shuangta Food Co. Ltd (sorted alphabetically).

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
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