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Pea Protein Market Size

Report ID: GMI362
Published Date: Mar 2023
Report Format: PDF

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Pea Protein Market Size

Pea Protein Market size reached USD 200.5 million in 2023 and is poised to depict a 10.1% CAGR from 2024 to 2032, on account of the growing burden of celiac disease.

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Consumers are shifting increasingly toward gluten-free diets to reduce weight and control the symptoms of celiac disease, which is highly prevalent in several developed economies such as America. Based on statistics from a Beyond Celiac report, approximately 3.2 million Americans are diagnosed with celiac disease. This high disease burden will promote the consumption of pea protein as a gluten-free protein source

Pea Protein Market Report Attributes
Report Attribute	Details
Base Year:	2023
Pea Protein Market Size in 2023:	USD 200.5 Million
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	10.1%
2032 Value Projection:	USD 480 Million
Historical Data for:	2018 - 2022
No. of Pages:	215
Tables, Charts & Figures:	204
Segments covered:	Product, Application, and Region
Growth Drivers:	Asia Pacific Strong nutraceutical demand Rising concerns about lactose intolerance levels Europe: Growing intake of gluten-free products North America: Rising protein consumption
Pitfalls & Challenges:	Low acceptance of protein sources other than soy Increasing penetration of animal protein

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Growing demand for pea protein in various applications including meat substitutes, sports supplements, nutraceuticals, bakery products, and beverages is expected to drive the pea protein market growth. With the growing preference for meat alternatives, the plant-based protein industry has been thriving worldwide. As per survey data from Kerry, in 2021, 61% of consumers preferred plants as a protein source over animal-based proteins, further contributing to pea protein production. Despite the favorable business landscape, however, the availability of substitutes such as soy protein may limit industry development.

Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

The trend in the pea protein market is showing strong growth, with a projected CAGR of over 10.1% until 2032. This is due to the increasing demand for plant-based protein products, as consumers become more health-conscious and aware of the environmental impact of animal-based protein production.

Pea protein industry size from nutraceuticals application segment is expected to surpass USD 65 million by 2032, as a result of changing lifestyles and the adoption of healthy eating patterns.

Europe pea protein industry share will exhibit an 8.5% CAGR through 2023-2032, given the high intake of protein-rich baked goods.

Cosucra-Groupe Warcoing, Shandong Jianyuan Group, The Scoular Company, Sotexpro, Yantai Oriental Protein Tech Co., Ltd., Fenchem, Prinova Group LLC, Glanbia Plc, and Martin & Pleasance are some of the prominent players in the pea protein business.