The global pea protein market, driven by rising demand for plant-based proteins and dietary supplements, is projected to reach approximately $117 million by 2027 with a CAGR of 12.2%. The market is faced with competition from lower-cost alternatives but sees opportunities in consumer trends towards fortified foods and plant-based beverages. Despite challenges from the COVID-19 pandemic impacting supply chains, the market is expected to grow due to increasing health awareness and the popularity of meat substitutes.

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COVID-19 Impact Tracker

2. PEA PROTEIN MARKET ANALYSIS
Pea Protein Market, By Type (Isolates, Concentrates, Textured), By Application
(Bakery and Snacks, Dietary Supplementation, Beverages, Meat
Analogs/Substitutes), and By Region (North America, Latin America,
Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and
Opportunity Analysis, 2020 - 2027

3. • Pea protein is a plant-based protein that is derived from yellow and green peas. They are widely
used in protein supplements and various food applications. Pea protein is a rich source of essential
amino acids that are required for the healthy functioning of the body. Consumption of pea protein
enhances the blood circulation and calcium absorption in the body. Moreover, it also stimulates the
healthy growth of the muscles.
• The global pea protein market is projected to reach around US$ 117.0 million by the end of 2027,
in terms of revenue, growing at CAGR of 12.2% during the forecast period (2020-2027).
Drivers:
• Growing demand for gluten-free products along with the rising popularity of plant-based protein
is primarily fueling the market growth of the pea protein. Rising demand for pea protein from
dietary supplements and functional food and beverages is also expected to augment the market
growth of the pea protein. Rising health awareness among consumers is propelling the demand for
dietary supplements. All these factors are predominantly accelerating the market growth of pea
protein.
• Increasing awareness regarding the importance of consuming protein among vegan consumers is
projected to foster the market growth. Growing demand for fortified food coupled with the
increasing prevalence of various chronic disease such as diabetes and cardiovascular disease is also
projected to augment the market growth of the pea protein. Moreover, growth in the food
&beverage the industry is further anticipated to surge the market growth.

4. Figure 1. Global Pea Protein Market Share (%) in terms of Value, By
Region, in 2019

5. • Europe region dominated the global pea protein market in 2019,
accounting for 36.1% share in terms of value, followed by
Europe and Asia Pacific, respectively.
• Market Restraints:
• Availability of low cost alternatives such as milk protein, egg
protein, wheat protein, and soy protein which are widely used
in dietary supplements is expected to hinder the market growth
of pea protein

7. • Market Opportunities:
• Shifting consumer’s preferences for plant-based beverage formulations
is expected to serve major growth opportunities to the market of
pea protein. For instance, in October 2018, DuPont launched pea
protein for beverages. A new pea protein ingredient called TRUPRO
2000 is designed specifically for beverage applications. TRUPRO 2000
delivers superior flavor and mouth feel performance in beverage
powders. Hence, the growing demand for plant-based beverage
formulations is expected to accelerate the market growth.
• Growing demand for high protein formulations among health-
conscious consumers is projected to offer lucrative opportunities to
the the market of pea protein. The rising number of people visiting the
gym and diet center that recommend people to consume a rich source
of protein food products, energy drinks, and other healthy food
products is further expected to augment the market growth. Thus,
rising demand for high protein formulations is projected to foster
the market growth of pea protein.

8. Figure 2. Global Pea Protein Market– Opportunity Analysis

9. • Market Trends:
• Increasing launch of meat substitute with high protein content is
expected to be a major trend in the market of pea protein. For
instance, in October 2019, Nestlé launched Nestlé's Awesome
Burger, a plant-based patty that looks and tastes like meat.
Moreover, pea protein is also used in meat products as a texture
improving agent in the meat processing. All these factors are
projected to foster the market growth of the pea protein.

10. Figure 3. Global Pea Protein Market Share (%) in terms of Value, By
Application, in 2019

11. • On the basis of application in 2019, the dietary supplements
segment has accounted the largest market share of 41.3% in
terms of value, followed by bakery & snacks and beverages
segment respectively.
• Regulations
• Europe
• Commission Regulation (EC) No. 1170/2009 of November 30,
2009, An amendment of Directive 2002/46/EC, lists the
vitamins, minerals and their chemical forms that can be used in
the manufacture of dietary supplements, as well as chemical
forms of vitamins and minerals that can be added to food

12. • Global Pea Protein Market - Impact of Coronavirus (Covid-19) Pandemic:
• Food being an essential commodity, the demand for food ingredients such as pea
protein is expected to rise during the pandemic and post pandemic conditions,
worldwide. Having said that, Coronavirus (Covid-19) has majorly impacted the food
& beverages industry and in turn has changed the dynamics of entire ecosystem
including raw material suppliers supplying food ingredients. Lockdown in various
nations such as India, China and Spain, among others and cease in the subsequent
trade activities has paralyzed the supply chain. Lockdown in various countries is
expected to impact supply chain system of pea protein, which will hamper growth
of pea protein market for short period

13. • Competitive Section:
• Company Names
• Burcon Nutrascience
• Cosucra Groupe Warcoing
• Nutri Pea Limited
• Sotexpro
• Roquette Freres
• Glanbia Plc.
• Fenchem Biotek Ltd.
• Prinova Group LLC
• Yantai Shuangta Food Co.
• Few Recent Developments
• Roquette Freres:
• In December 2019, Roquette announced the expansion of its range of premium plant-based proteins for the meat
alternative sector at Food Ingredients Europe (FIE 3-5 December 2019). Roquette adds two plant-based textured
proteins, one from peas and one from fava beans.

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Reference: https://www.coherentmarketinsights.com/market-
insight/pea-protein-market-3985

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