Pea Protein Market Set to Reach USD 3 Billion by 2030, Growing at a CAGR of 12%

Pea Protein Market Set to Reach USD 3 Billion by 2030, Growing at a CAGR of 12%

According to Next Move Strategy Consulting, the global Pea Protein Market, is poised to reach USD 2 billion by 2030, growing at a robust compound annual growth rate (CAGR) of 12% by 2030. The increasing demand for plant-based proteins, combined with rising awareness of health and wellness trends, is expected to drive the market's expansion.

Pea protein, derived from the seeds of the Pisum sativum plant (commonly known as yellow and green split peas), is a high-quality, plant-based protein supplement. Known for its rich nutritional profile, it contains essential amino acids, vitamins, minerals, and minimal fat, making it an ideal choice for vegan, hypoallergenic, and gluten-free diets. This makes pea protein an increasingly popular ingredient in health-conscious consumer products like smoothies, shakes, and plant-based foods.

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Market Dynamics and Trends

The growing popularity of sports and fitness activities is a key driver of demand for pea protein. Athletes and fitness enthusiasts favor pea protein for its ability to support muscle growth and enhance recovery. A report by the Sports & Fitness Industry Association revealed that 77.6% of the U.S. population engaged in sports activities in 2022, reflecting a growing interest in physical fitness that is contributing to market growth.

Additionally, heightened awareness of the nutritional benefits of pea protein, particularly its vegan, hypoallergenic, and gluten-free properties, has led to greater adoption across various consumer groups. The increasing demand for gluten-free food products, fueled by conditions like celiac disease, is further driving market growth.

Challenges and Opportunities

While the market faces challenges such as low consumer awareness of pea protein-based products and limited raw material supply, technological advancements in protein extraction methods, including dry and wet milling, offer promising opportunities. These innovations are expected to enhance production efficiency, making pea protein more accessible and affordable.

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Market Segmentation and Scope of Study

The pea protein market is segmented based on nature (conventional and organic), product (isolates, concentrates, textured, hydrolyzed, etc.), source (yellow split peas, lentils, chickpeas), form (dry and liquid), and application (animal feed, food processing, nutraceuticals, sports nutrition, infant nutrition, personal care, and cosmetics, among others). Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and the rest of the world (RoW).

Geographical Insights

North America leads the global pea protein market, driven by a rising number of consumers adopting vegan and plant-based diets. The U.S. plant-based market has experienced significant growth, outpacing traditional food sales by five times. The presence of industry leaders such as Kerry Group, Axiom Foods, and Ingredion has bolstered North America's dominant market share. Additionally, advancements by companies like Burcon NutraScience, which launched ingredient processing services in May 2023, further strengthen the region's position.

Asia-Pacific is also witnessing rapid growth, driven by a large vegetarian population and increasing adoption of pea protein in countries like China and India. The region benefits from government initiatives promoting sustainable pea farming, supporting both local production and the wider adoption of pea-based proteins.

Competitive Landscape

Key players in the pea protein market include Roquette Frères, Ingredion, Kerry Group Plc., NOW Foods, Axiom Foods, Burcon NutraScience, DuPont, Archer Daniels Midland, Cargill, and Shandong Jianyuan Foods. These companies are implementing strategies such as new product launches, partnerships, and market expansions to strengthen their position.

Notable developments include Ingredion’s exclusive commercial distribution partnership with InnovoPro to introduce chickpea protein to North America, Roquette's launch of a new organic range of texturized pea proteins in Europe, and Cargill’s expansion of its pea protein product, RadiPure, in India and the META region.

Conclusion

The pea protein market is on a growth trajectory, fueled by the increasing demand for plant-based, gluten-free, and hypoallergenic nutritional products. With rising consumer awareness, a growing fitness culture, and continued innovations in production techniques, the market is well-positioned for sustained growth over the coming years. North America remains a dominant force in the industry, while Asia-Pacific’s increasing adoption further fuels global market expansion.

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