The market for Pea Protein is estimated at USD 1.7 Billion in 2022; it is projected to grow at a CAGR of 11.9% to reach USD 2.9 Billion by 2027. Growth of population following vegan lifestyle, popularity of plant-based foods and gluten-free products, high demand of healthier functional and sustainable food options and nutritional benefits of pea-based products are key factors that are projected to drive the growth of the Pea Protein market during the forecast period.
The Pea Proteins market consists of a few globally established players such as Rouquette Freres (France), DuPont (US), Glanbia PLC (Ireland), Kerry (Ireland), Ingredion (US), Puris (US), Emsland Group (Germany), Yantai Shuangta Foods Co., Ltd (China), The Scoular Company (US), Burcon (Canada), Shandong Jianyuan Group (China), ET-Chem (China), AGT Food and Ingredients (Canada), The Green Labs LLC. (US), and Axiom Foods, Inc. (US) . Strategic partnerships were the dominant strategy adopted by the key players, followed by expansions and new product launches. These strategies have helped them to increase their presence in different regions and industrial segments
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Roquette Frères was founded in 1933 in Lestrem, France. It is the industry leader in manufacturing plant-based ingredients and proteins. It caters to the biopharma, pharma and nutraceuticals, cosmetics, food and nutrition, animal nutrition, and industrial markets. The company offers pea protein under the NUTRALYS brand, which has binding, thickening, gelling, and texturizing properties. NUTRALYS caters to a few health issues and goals like Weight management, muscular development, elder care, and blood glucose management. The company operates through 25 industrial sites offering its products in more than 100 countries across the Asia Pacific, Europe, North America, and South America. Roquette America Inc. (US), Roquette Co. Ltd. (China), Roquette Ltd. (UK), Roquette Korea Ltd. (Korea), and Roquette CH SA (Switzerland) are some of the subsidiaries of the company.
Ingredion was founded in 1906 in Illinois, US. The company operates through five business segments: food, beverages, animal nutrition, brewing, and others. It caters to industries like food & beverages, pharmaceuticals, health and nutrition, personal care, animal nutrition, and brewing. Its product portfolio includes starch products, sweetener products, and specialty ingredients. Specialty ingredients include Starch-based Texturizers, Clean and Simple Ingredients, Sugar Reduction and Specialty Sweeteners, Food Systems, and Plant-based Proteins. It offers pea protein under its plant-based proteins. It operates through 28 Ingredion Idea Labs innovation centers in more than 120 countries across regions like North America, South America, Asia Pacific, the Middle East, Europe, and Africa. The company operates through 20 manufacturing plants in North America.
Puris was founded in 1985 in Minneapolis, US. It manufactures a range of plant-based ingredients from pulses, lentils, corn, and soy. The company offers a range of products, such as pea protein, pea starch, pea hull fiber, pea syrup, whole pulse powder, whole grains, and ready-to-eat pea fiber. It offers pea protein under its brand PURIS for food applications, such as clean-label bars, baked goods, and beverages, due to its gelling properties. PURIS Pea protein, starches, fibers, and other non-GMO components derived from soy, pulses, lentils, and other plant sources are manufactured exclusively by PURIS. These sustainable ingredients promote healthy eating and activities that are safe for people, the environment, and life on Earth. The company operates through its manufacturing facilities in Wisconsin, Iowa, and Minnesota in the US.
Pea Protein Market by Type (Isolate, Concentrate, and Textured), Form (Dry and Wet), Source (Yellow Split Pea, Lentils and ChickPea), Application, and Region (North America, Europe, APAC, South America and ROW ) - Global Forecast to 2027
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