According to MarketsandMarkets, the global Pea Protein Market is estimated at USD 844 million in 2021; it is projected to grow at a CAGR of 13.5% to reach USD 1,588 million by 2026.
Pea protein is an ingredient produced from a variety of sources, such as yellow split peas, peas, chickpeas, and lentils. Consumers are getting increasingly aware of the benefits of nutrition and health products. Pea protein is a popular product as a substitute for meat and other protein products. Pea protein from green and yellow peas contains all the essential amino acids that are required for a healthy body. Several countries are now increasing their pea production. The leading five countries in green pea production are China, India, the United States of America, France, and Egypt. The leading five5 countries in dry pea production are Canada, France, China, Russia, and India.
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The market for pea protein isolates holds a strong position in the global markets as the demand for pea protein in plant-based meat and snacks has increased. Roquette (France) is the largest pea protein isolate producer and hosts a large portfolio of products that cater to customer requirements. The market for isolates is projected to observe fats growth in the market due to the high protein content offered by isolates as well as their use in a wide array of applications, including plant-based meat and performance nutrition.
Dry textured pea protein is more often used in applications such as meat analogs, meat extenders, and meat substitutes. As dry pea protein gives a meat-like texture to plant-based meat products, manufacturers insist on using the dry form in such applications. Companies such as Impossible Foods and Beyond Meat have successfully developed and introduced products that include dry textured pea protein as the manufacturing process.
The use of pea protein has witnessed substantial growth in the meat substitutes industry, which is among the largest users of pea protein. The growing demand for meat alternatives has helped drive the change for pea protein, which is currently being used in the manufacturing of plant-based burger patties and sausages. The use in performance nutrition has also witnessed strong growth as factors such as lactose intolerance have witnessed athletes substituting whey protein with pea proteins.
Yellow split peas are adopted for use in multiple food formats, including plant-based burgers and pea milk, which utilize pea protein isolates derived from yellow split peas. They are also regarded as a high source of fiber and are taste-neutral in comparison. They are well-regarded for their non-allergen properties that aid their integration into different product types.
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The growing trend of veganism has pushed the growth of the North American pea protein industry. Consumers are gradually shifting their diet preferences and are going vegan due to the health and wellness benefits associated with it. This paradigm shift in food culture is being supported by health & fitness industries, medical communities, celebrities and athletes, which has bolstered the demand for pea protein.
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