Pea Protein Market Size

Market Outlook:

Pea Protein Market surpassed USD 2.14 Billion in 2023 and is anticipated to exceed USD 5.98 Billion by end of the year 2032, witnessing more than 12.1% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 2.14 Billion
• CAGR (2024-2032): 12.1%
• Forecast Year Value (2032): USD 5.98 Billion
• Historical Data Period: 2019-2023
• Largest Region: North America
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

Increasing consumer demand for plant-based protein products is driving the growth of the pea protein market. As more consumers become health-conscious and seek alternatives to animal-based proteins, pea protein has emerged as a popular choice due to its high nutritional value and sustainability.

The growing trend of vegetarian and vegan diets is also contributing to the growth of the pea protein market. With a rising awareness of the environmental impact of animal agriculture and concerns about animal welfare, many people are turning to plant-based diets, creating a growing market for pea protein products.

The increasing prevalence of food allergies and intolerances, especially to dairy and soy products, is driving the demand for alternative protein sources like pea protein. As more consumers seek allergen-free options, pea protein is gaining popularity as a hypoallergenic and easily digestible protein source.

Industry

Report Scope

Report Coverage	Details
Segments Covered	Product, Form, Source, Application
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Burcon Nutrascience, Roquette Freres, The Scoular Company, DuPont, Cosucra Groupe Warcoing SA, Nutri-Pea, Shandong Jianyuan Group, Sotexpro SA, Ingredion,, Axiom Foods,, Fenchem,, Martin & Pleasance, The Green Labs LLC

Limited consumer awareness and understanding of pea protein may hinder the growth of the market. Many consumers are still unfamiliar with pea protein and may be hesitant to try it due to misconceptions or lack of knowledge about its benefits and uses.

The high cost of pea protein compared to other protein sources such as soy and whey may be a restraint on market growth. Despite its nutritional benefits, the higher price of pea protein products may deter some consumers from choosing them over more affordable alternatives.