Pea Protein Isolate Market by Source (Yellow Pea, Green Pea), Source Process (Conventional, Organic), Processing Method (Dry, Wet), Application (Nutritional Supplements, Meat Alternatives, Dairy Alternatives, Bakery, Snacks, Beverages) - Global Forecast to 2029

The Pea Protein Isolate Market is expected to reach $542.9 million by 2029, at a CAGR of 16.4% during the forecast period of 2022 to 2029. In terms of volume, the global pea protein isolate market is expected to grow at a CAGR of 13.8% from 2022 to 2029 to reach 135.2 thousand MT by 2029.

Some of the major factors driving the growth of this market include rising interest in plant-based nutrition, increasing importance of organic ingredients in the food and beverage sector, increasing plant-based food market, and rising consumer awareness regarding nutritional benefits offered by pea. Additionally, growing opportunities in emerging markets provide significant growth opportunities for plant-based manufacturers. However, a significant preference for animal-based protein hinders the growth of the global pea protein isolate market to some extent.

COVID-19 Impact on the Pea Protein Isolate Market

The trend of healthy eating has gained traction in recent years, significantly driving the formulation of healthy products. Pea protein isolates are emerging as a driving ingredient in the formation of alternative dairy and meat industry and health supplements due to their natural high protein content with other nutritional qualities and comparatively low price than other novel proteins. During the COVID-19 pandemic, consumers were increasingly demanding new and sustainable eating practices that offer immunity-boosting benefits as a preventive measure. The pea protein-based food industry is witnessing a rapid surge in demand for immune-boosting products.

According to the International Food Information Council’s (IFIC) 2020 Food and Health Survey, in 2020, 41% of the participants increased protein consumption from plant sources, and 28% of respondents consumed more plant-based meat alternatives. Nearly 70% of consumers preferred protein from plant sources. Thus, the rising demand for pea protein-based products in response to sustainable eating during the pandemic is expected to boost the growth of the pea protein isolate market.

However, many manufacturers expect to witness short-term COVID-19 impacts, such as the slowdown in new product launches, lower sales in restaurants and cafeterias, supply chain disruptions, and investment dependency.

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Rising Consumer Awareness Regarding Nutritional Benefits Offered by Pea

Over the past decade, there has been an increased interest in varying protein options. The pea protein market and other plant-based proteins have been growing for several years due to consumers worldwide becoming more health-conscious and the various health benefits of pea protein. However, animal and soybean protein continue to dominate the global protein ingredients market, and pea protein isolate is increasingly becoming a competitor to alternative protein crops such as soy and wheat. The increasing interest in pea protein isolate is primarily attributed to its unique benefits over other sources, such as animal protein or other plant-based sources, including their sustainable production, low allergenicity, and health benefits of eating a pea protein-based diet. Also, a growing number of millennial consumers are looking for simpler labels, appetizing products, and alternative protein sources to accommodate personalized nutritional choices, which is expected to accelerate the growth of the pea protein market.

Nutritionally, pea protein isolates are an excellent source of lysine, antifungal bioactive peptides, and dietary lectins with health-promoting properties. Pea protein contains all the essential amino acids and helps improve blood circulation and calcium absorption, manage weight, stimulate metabolism, maintain muscle health and regulate blood sugar levels. Furthermore, the functionality of pea protein has received much attention in the past decade. The physical and chemical properties of pea protein isolate can significantly influence its performance in food processing, storage, and consumption. The major functional properties of pea protein are water-binding capacity, oil-binding capacity, foam expansion, foam stability, gelation, emulsion stability, and emulsion ability ratio.

The pea protein isolate market has been registering high growth due to the high demand for vegan and vegetarian protein ingredients sources. Manufacturers are focusing on innovative products and technology through extensive research and development to improve product quality. Moreover, the increasing number of lactose-intolerant people is accelerating the demand for alternative protein ingredients sourced from milk and milk derivatives.

Key Findings in the Global Pea Protein Isolate Market Study:

In 2022, the Yellow Peas Segment Is Estimated to Account for the Largest Share of the Pea Protein Isolate Market

Based on source, the global pea protein isolate market is mainly segmented into yellow peas and green peas. The yellow peas segment is estimated to account for the largest share of the overall pea protein isolate market in 2022. The leading position of this segment is mainly attributed to its high protein content and benefits such as digestive system regulation, cholesterol control, blood sugar control, better maintenance of healthy body weight, and promote gut health. This segment is also expected to grow at the highest CAGR during the forecast period due to its versatility in various applications in the food & beverage industry, especially as alternative meat products.

In 2022, the Conventional Pea Protein Isolate Segment Is Estimated to Account for the Largest Share of the Pea Protein Isolate Market

Based on source process, the global pea protein isolate market is mainly segmented into conventional pea protein isolate and organic pea protein isolate. The conventional pea protein isolate segment is estimated to account for the largest share of the overall pea protein isolate market in 2022. The leading position of this segment is mainly attributed to factors such as the lower price of conventionally grown peas than organic peas, their longer shelf life, and the availability of substantial crop varieties. However, the organic pea protein isolate segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to growing organic product sales statistics, the rising trend of clean label products, and the increasing number of certified organic pea-producing farms.

In 2022, the Dry Processing Segment Is Estimated to Account for the Largest Share of the Pea Protein Isolate Market

Based on processing method, the global pea protein isolate market is mainly segmented into dry processing and wet processing. The dry processing segment is estimated to account for the largest share of the overall pea protein isolate market in 2022. The large share of this segment is mainly attributed to low capital requirement, reduced water & energy consumption compared to wet extraction, and the high demand from food & beverage manufacturers. However, the wet processing segment is expected to grow at the highest CAGR during the forecast period.

In 2022, the Powder Segment Is Estimated to Account for the Largest Share of the Pea Protein Isolate Market

Based on form, the global pea protein isolate market is mainly segmented into powder and liquid. The powder segment is estimated to account for the largest share of the overall pea protein isolate market in 2022. The leading position of this segment is mainly attributed to the higher demand for solid protein ingredients due to the ease of handling & transportation, cost-effectiveness, and the ability to avoid costly formulation errors and maintain the stability of the ingredients. However, the liquid segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to its growing demand from the dairy alternative industry and increasing applications in innovative products.

In 2022, the Nutrition & Health Supplements Segment Is Estimated to Account for the Largest Share of the Pea Protein Isolate Market

Based on application, the global pea protein isolate market is mainly segmented into nutrition & health supplements, meat & alternative meat products, bakery products, dairy & dairy alternatives, cereals & snacks, beverages, and others. The nutrition and health supplements segment is estimated to account for the largest share of the overall pea protein isolate market in 2022. The leading position of this segment is mainly attributed to factors such as the rising incidences of diseases due to improper nutrition, the benefits of pea protein in additional nutrition and sports performance products, and growing health and wellness trends. However, the meat and alternative meat products segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to growing veganism, the increasing launches of new products, and the rising incidences of meat-borne diseases.

Asia-pacific: Fastest-growing Regional Market

Geographically, North America is estimated to account for the largest share of the overall pea protein isolate market in 2022. The large share of this region is primarily attributed to the well-established food & beverage industry, the rising concerns over animal products and protein, the increasing vegan population, the growing preference for meat alternatives, the increasing demand for healthy & nutritional products, and the presence of major pea protein manufacturers in North America. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The rapid growth of this region is mainly attributed to the growing awareness regarding the importance of protein-rich diets and increasing health consciousness among the general population, the booming food & beverage industry, the large vegan population, and the increasing number of pea protein-based product launches.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by the leading market participants in the pea protein isolate market during. The key players profiled in the global pea protein isolate market are Roquette Frères Le Romain (France), AGT Food and Ingredients Inc. (Canada), Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), Archer-Daniels-Midland Company (U.S.), E.I. Dupont De Nemours and Company (U.S.), Glanbia Plc. (Ireland), Cosucra Groupe Warcoing SA (Belgium), Farbest Brands (U.S.), Shandong Jianyuan Foods Co., Ltd. (China), The Emsland Group (Germany), and Nutri-Pea Ltd. (Canada).

Scope of the report

Pea Protein Isolate Market, by Source            

• Yellow Peas
• Green Peas

Pea Protein Isolate Market, by Source Process                      

• Conventional Pea Protein 
• Organic Pea Protein

Pea Protein Isolate Market, by Processing Method                 

• Dry
• Wet

Pea Protein Isolate Market, by Form               

• Powder
• Liquid

Pea Protein Isolate Market, by Application

• Nutrition & Health Supplements
• Meat & Alternative Meat Products
• Bakery Products
• Dairy & Dairy Alternatives
• Cereals & Snacks
• Beverages
• Others 

Pea Protein Isolate Market, by Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Latin America
• Middle East and Africa

Key questions answered in the report: