USD 1.65 billion
Global Yellow Pea Protein Market Size, Share, Growth Analysis, By Type(Isolate, concentrate), By Source process(Conventional, organic.), By Processing method(Dry, wet), By Application(Nutrition & health supplements, meat & alternative meat products), By Form(Powder, liquid) - Industry Forecast 2024-2031
Report ID:
SQSG30B2008 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
145 |
Figures:
78
Global Yellow Pea Protein Market Insights
Yellow Pea Protein Market size was valued at USD 1.65 billion in 2019 and is poised to grow from USD 2.14 billion in 2023 to USD 5.6 billion by 2031, growing at a CAGR of 12.8% in the forecast period (2024-2031).
The need for protein substitutes has grown during the last few years. Due to the consumption of yellow pea protein’s health benefits and the rising number of health-conscious customers around the world, the global yellow pea protein market has experienced substantial expansion in recent years. Pea protein has greatly increased in popularity, despite the market for protein components still being dominated by animal-based and soybean proteins. Yellow pea proteins are an excellent source of lysine, antifungal bioactive peptides, dietary lectins, and other health-promoting properties, that accelerate the market growth.
The advantages of pea protein consumption over animal protein or other plant-based protein sources, including sustainable production, reduced allergenicity, and health benefits, are credited with the increase in interest in pea protein. The market is anticipated to expand more quickly as customers strive for simplified labelling, tasty goods, and different protein sources to satisfy specific dietary preferences.
US Yellow Pea Protein Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Nutrition & health supplements
Fastest Growth
Nutrition & health supplements
Growth Rate
12.8% CAGR
Global Yellow Pea Protein Market ($ Bn)
Country Share for North America Region (%)
Country Share for Asia Pacific Region (%)
Global Yellow Pea Protein Market By Application ($ Bn)
Global Yellow Pea Protein Market By Application (%)
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Global Yellow Pea Protein Market Segmental Analysis
Global Yellow Pea Protein Market is segmented based on the Type, source process, processing method, form, application, and region. Based on the type, the Global Yellow Pea Protein Market is segmented into isolate, concentrate, textured yellow pea protein. Based on the source process, the Yellow Pea Protein Market has been segmented into conventional and organic. Based on the processing method, the Yellow Pea Protein Market has been segmented into dry and wet. Based on form the Yellow Pea Protein Market is segmented as powder and liquid. Based on application, the Global Yellow Pea Protein Market is segmented into nutrition & health supplements, meat & alternative meat products, bakery products, dairy & dairy alternatives, cereals & snacks, beverages, pet food. Based on Region Yellow Pea Protein Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Yellow Pea Protein Market Analysis by source process
Global Yellow Pea Protein Market is dominated by the conventional yellow pea protein in terms of source process in 2021. Due to the advantages that conventional yellow pea protein has over organic yellow pea protein, including cheaper pricing, a longer shelf life, and the availability of a wide range of crop varieties, this category has a sizable market share.
The organic pea protein is fastest growing segment and register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the growing demand for organic products, the rising trend of clean label products, and the increasing number of certified organic pea-producing farms.
Yellow Pea Protein Market Analysis by Application
The yellow pea protein market is dominated by the powder in terms of form segment in 2021. The significant market share of this sector is linked to the increased demand for solid protein ingredients because of its advantages, including simplicity in handling and transportation, affordability, low to no formulation errors, and ingredient stability.
The liquid segment is fastest growing segment with the highest CAGR during the forecast period. This market is expanding as a result of rising demand from the dairy alternative industry for liquid yellow pea proteins and their expanding use in new products.
Global Yellow Pea Protein Market By Application, 2023 (%)
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Global Yellow Pea Protein Market Regional Insights
North America dominated the market and held the largest share of the Global Yellow Pea Protein Market. The growth factors for the market is the increasing adoption of pea protein instead of animal protein. Also, the major manufacturing player are available in that region.
Asia Pacific is fastest growing region with the highest CAGR during the forecast period. The burgeoning food and beverage industry, the huge vegan population, and the rising number of pea protein-based product launches all contribute to the growth of this regional market by raising public awareness of the value of diets high in protein and improving health consciousness.
Global Yellow Pea Protein Market By Region, 2024-2031
- Largest
- Fastest
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Global Yellow Pea Protein Market Dynamics
Yellow Pea Protein Market Driver
Increasing Demand for Vegan and Vegetarian Food
- Due to the rising demand for vegan and vegetarian protein sources, the yellow pea protein industry has been expanding rapidly. To enhance the quality of their products, manufacturers are concentrating on cutting-edge technology and products. Additionally, the need for substitute protein components derived from milk derivatives is driven by the rising number of consumers who are lactose intolerant.
Yellow Pea Protein Market Restraint
Availability of Alternative Protein
- Significant preference for animal based protein restraint the growth of the Global Yellow Pea Protein Market. Many customers are preferred animal based protein due to the easy and low cost price are hindering the market growth.
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Global Yellow Pea Protein Market Competitive Landscape
Global Yellow Pea Protein Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Yellow Pea Protein Market Top Player's Company Profiles
- Ingredion
- Roquette Freres
- Axiom Foods Inc.
- Burcon NutraScience Corporation
- Cosucra Groupe Warcoing SA
- The Scoular Company
- Emsland Group
- Sotexpro
- AGT Food and Ingredients
- Vestkorn Milling AS
- Puris Proteins
- Glanbia plc
- Farbest Brands
- Kerry Group plc
- Batory Foods
- Biorefinery Solutions
- Fenchem Biotek Ltd.
- Gremount International Company Limited
- Parabel USA Inc.
- Nutri-Pea Limited
Yellow Pea Protein Market Recent Developments
- In September 2022, AGT Foods of Regina reached a partnership agreement with Equinom, to expand development of new high yellow pea protein varieties.
- In June 2022, Equinom and Peterson Farms Seed announced a partnership, to produce identity preserved seeds of Equinom yellow peas such as a high protein, non GMO variety optimized for food applications.
- In March 2022, Beyond Meat and PepsiCo formed a joint venture to manufacture the plant-based jerky, which are no cholesterol and is made with simple, plant-based ingredients without GMOs, soy or gluten.
Global Yellow Pea Protein Key Market Trends
- Plant-based transitions are gradual, but in recent years, an increasing number of consumers have adopted a vegan, partially vegan, or flexitarian lifestyle. It is unlikely that consumers will return to their original state after switching to a plant-based animal-based diet. Furthermore, the plant-based market now has far more options than the meat product market, which is more appealing than taste, primarily to millennial and Gen Z consumers. For the millennial and Gen Z generations. The majority of those polled intend to reduce their meat consumption over the next three years. This is also true for milk consumers. With more options, consumers can reduce their consumption of meat and dairy products even further.
Global Yellow Pea Protein Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Yellow Pea Protein Market analysis, Asia Pacific is expected to capture higher market share during the forecast period. The growth of the region is due to the huge vegan population and the rising number of pea protein-based product launches. China has emerged as a significant contributor to market growth in Asia Pacific. In terms of type, the conventional yellow pea protein type segment dominates the market. This segment's leading position can be attributed to its cheaper pricing, a longer shelf life, and the availability of a wide range of crop varieties. In terms of application, the dry application led the market and is predicted to grow at the fastest rate. The demand for pea protein is due to people shifting towards vegan food.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.65 billion |
| Market size value in 2031 | USD 5.6 billion |
| Growth Rate | 12.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Yellow Pea Protein Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Yellow Pea Protein Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Yellow Pea Protein Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Yellow Pea Protein Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Yellow Pea Protein Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Yellow Pea Protein Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Yellow Pea Protein Market Report Snapshots
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