Pea Protein Market Growth, Trends and Analysis Report, 2024

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Pea Protein Market Share, Size, Analysis, Growth, Trends and
Forecasts to 2024 | Hexa Research
Pea protein is a food additive, majorly used in cheese and yogurt. The pea protein
market is predicted to grow due to health consciousness among consumers and
demand of pea protein supplements. Renewed interest in gluten -free products,
acceptance of meat substitutes amid the lactose intolerance levels among teens is
augmenting market demand.
Plant-based supplements made from wheat, canola, and soy can pose a market
challenge. But development of novel products could open up new market avenues. The
global pea protein market is segmented according to products, applications, and
regions. Products include textured pea protein, isolates, and concentrate s.
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Meat substitutes and sports nutrition supplements are manufactured using isolates.
This can be on account of high amino acid content, high solubility, and good water
binding. Textured pea proteins are heavily used in dairy supplements and beverages
owing to their similar appearance to meat. Pea concentrates used in beve rages,
aquafeed, and foods constitute about 75% protein.
Dietary supplements, sports supplements, meat substitutes, nutraceuticals, and others
are major market applications. Dietary supplements are the largest application of the
pea protein market on account of consumer awareness about nutraceuticals. Concerns
regarding meat allergies will spur the demand for meat substitutes. It will be the fastest
growing application over the forecast period (2016-2024).
Regions covered under the market are Latin America, North America, Middle East &
Africa (MEA), Asia Pacific, and Europe. North America is a major region for the industry
due to concerns of cardiovascular diseases and the booming sports industry. Rising
cases of lactose intolerance will see major growth in Europe. Asia Pacific can
experience a major demand boost due to consumption of nutrient-based foods and
supplements. New regulations in the agricultural industry in China & India would see an
upsurge of raw material to pea protein manufacturers.
Major players of the pea protein market are Roquette Frères, Shandong Jianyuan
Foods Co., Ltd., Burcon Nutrascience Corporation, and Shandong Jianyuan Foods Co.,
Ltd. They have formed alliances with domestic distributors to ensure a steady product
supply in high-demand regions. Roquette Frères produces pea proteins under the
brand name – NUTRALYS. Burcon, on the other hand, has managed to manufacture
vegetable-based protein which is transparent and 100% soluble.
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The pea protein market is anticipated to grow exponentially owing to health conscious population and an increase in the usage of pea proteins food supplements.