Pea Protein Market is Expected to Grow $2.9 billion by 2027

Chicago, Jan. 09, 2024 (GLOBE NEWSWIRE) -- Pea protein is a plant-based protein derived from yellow peas (Pisum sativum), commonly known as split peas. Extracted through a process that involves milling and separating the starch and fiber from the peas, pea protein has gained popularity as a nutritious and sustainable alternative to animal-based proteins. The pea protein market size is poised for substantial growth, with an estimated value of USD 1.7 billion in 2022 and a projected CAGR of 11.9% to reach USD 2.9 billion by 2027. North America stands at the forefront, holding the largest share in both volume and value during the forecast period.

Rich in essential amino acids, pea protein is particularly valued for its protein content, making it a suitable choice for individuals seeking plant-based or vegan protein sources. It is known for its versatility and is used in various food and beverage applications, including plant-based meat alternatives, protein bars, snacks, and nutritional supplements. Pea protein is often chosen for its ability to enhance the protein content and improve the texture of plant-based products.

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Ingredients in Pea Protein Market

  • The ingredients in the Pea Protein Industry are primarily derived from yellow peas (Pisum sativum) and are processed to extract pea protein in various forms. The main components and ingredients associated with pea protein products include:
  • Yellow Peas (Pisum sativum): The primary source of pea protein, yellow peas are harvested and processed to extract protein-rich components.
  • Pea Protein Isolate: This form of pea protein undergoes additional processing to isolate the protein from carbohydrates and fats, resulting in a product with a higher protein concentration.
  • Pea Protein Concentrate: This form retains more of the natural pea components, including fiber and starch, and has a slightly lower protein concentration compared to isolate.
  • Water: In the case of wet pea protein products, water is often used in the extraction process to separate protein from other pea components.
  • Processing Aids: Various processing aids, such as enzymes and solvents, may be used in the extraction and isolation processes to enhance efficiency and purity.
  • Natural Flavors: Depending on the final product, natural flavors may be added to improve taste and palatability.
  • Sweeteners: Some pea protein products, particularly those in the beverage or powdered supplement category, may contain natural or artificial sweeteners to enhance flavor.

Key Drivers Contributing to The Pea Protein Market Growth

  • Rising Demand for Plant-Based Proteins: The increasing adoption of plant-based diets and the growing awareness of the environmental and health benefits associated with plant proteins are driving the demand for pea protein as a sustainable and nutritious alternative.
  • Growing Vegan Population: The rise in the number of individuals adopting vegan lifestyles has led to an increased demand for plant-based protein sources, with pea protein market share being a popular choice due to its amino acid profile and versatility.
  • Health and Wellness Trends: Consumer preferences towards healthier lifestyles and awareness of the nutritional benefits of pea protein, such as its high protein content and hypoallergenic nature, contribute to its prominence in the market.
  • Meat Substitute Demand: The surge in demand for meat substitutes, including plant-based burgers and sausages, has propelled the use of pea protein in the food industry, catering to consumers seeking protein-rich alternatives to traditional meat products.
  • Performance Nutrition Applications: Pea protein's adoption in performance nutrition, driven by factors like lactose intolerance and the preference for vegan protein alternatives among athletes, contributes to its growth in the market.
  • Functional Food and Snack Applications: The incorporation of pea protein in functional foods, snacks, and bakery products, owing to its nutritional profile and functional properties, enhances its market presence and consumer acceptance.
  • Sustainability Concerns: The environmentally friendly aspects of pea protein, such as the nitrogen-fixing nature of peas in agriculture, align with the growing consumer focus on sustainable and eco-friendly food choices.
  • Increased Consumption of Processed Meat Alternatives: As consumers seek healthier and plant-based alternatives to processed meat products, the demand for pea protein in applications like meat substitutes continues to rise.

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Rising demand for Pea Protein in the North America

  • Increasing Vegan Population: North America has witnessed a significant rise in the number of individuals adopting vegan lifestyles. As pea protein aligns with plant-based dietary preferences, its demand has grown substantially among consumers seeking sustainable and cruelty-free protein sources.
  • Health and Wellness Trends: The growing emphasis on health and wellness in North America has led to an increased awareness of the nutritional benefits associated with pea protein. Consumers are increasingly recognizing its high protein content, amino acid profile, and hypoallergenic nature, contributing to its appeal.
  • Preference for Plant-Based Alternatives: The region has seen a notable shift in consumer preferences towards plant-based alternatives, including meat substitutes. Pea protein's versatile applications in products like plant-based burgers and sausages have positioned it as a key ingredient in meeting the demand for protein-rich, plant-based options.
  • Sustainability Focus: North American consumers are increasingly concerned about sustainability and the environmental impact of food choices. Pea protein's eco-friendly attributes, such as its role in sustainable agriculture as a nitrogen-fixing crop, resonate with environmentally conscious consumers.

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