Global Pea Protein Isolate Market Insights Forecasts to 2033

• The Global Pea Protein Isolate Market Size was estimated at USD 562 Million in 2023
• The Market Size is Expected to Grow at a CAGR of around 11.32% from 2023 to 2033
• The Worldwide Pea Protein Isolate Market Size is expected to reach USD 1642 Million by 2033
• Europe is expected to grow the fastest during the forecast period.

The Global Pea Protein Isolate Market size was valued at USD 562 million in 2023 and is projected to reach USD 1642 million by 2033, growing at a CAGR of 11.32% from 2023 to 2033. Rising demand for the applicability of plant-based, sustainable protein sources has significantly propelled the pea protein isolate market. Consumers' health trends, sustainability concerns, and food technological innovations have made the product highly acceptable across most segments, especially in the food and beverage industries.

Market Overview

The pea protein isolate market is the international trade of highly refined protein from yellow peas that contains more than 80% protein. It is used in plant-based meats, protein bars, dairy alternatives, supplements, and cosmetics. It is highly in demand for its profile of amino acids, which has promoted vegan, gluten-free, and dairy-free diets. Moreover, the pea protein isolate market is driven by the rising demand for plant-based foods among consumers due to health, environmental, and ethical concerns. Pea protein provides nutritional benefits, is allergen-free, and supports fitness goals. Its sustainable production appeals to eco-conscious consumers. Advancements in food technology, strategic investments, and increasing global health awareness are further driving growth, with emerging markets in Asia-Pacific and Latin America contributing to expansion alongside North America and Europe.  For instance, in February 2024, Roquette Freres extended the NUTRALYS range while launching four new multifunctional pea protein isolates, thus enhancing the flavor and texture of plant-based food products. There are four new releases: NUTRALYS Pea F853M (isolate), NUTRALYS T PEA 700 M (textured), NUTRALYS H 85 (hydrolysate), and NUTRALYS Pea 700 FL (textured).

Furthermore, such opportunities in the pea protein isolate market include expanding innovation in product design for snacks, ready-to-eat meals, and dairy alternatives. This market is moving toward clean label and sustainability demand, along with increasing adoption across emerging markets and the development of novel applications in functional foods.

Report Coverage

This research report categorizes the global pea protein isolate market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global pea protein isolate market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global pea protein isolate market.

Driving Factors

The key driving factors for the pea protein isolate market include a healthier and more sustainable food choice shift towards plant-based diets. More consumer awareness of protein health, fitness, and weight management drives the demand even further. Advances in food formulation and clean-label products and an increasing plant-based alternative presence in mainstream retail stores also help drive market growth. So does the worldwide effort to cut carbon footprints and support environmental sustainability. For instance, in February 2024, Louis Dreyfus, an agriculture processor based in the Netherlands, announced plans to construct a pea protein manufacturing facility in Canada. The new plant is expected to be operational by the end of 2025 and will employ nearly 60 people.

Furthermore, in November 2022, Ingredion Incorporated announced an exclusive distribution partnership with InnovoPro to distribute its chickpea protein concentrate in the US and Canada. This alliance is aimed at meeting the rising consumer demand for sustainable, nutritious, and appealing plant-based food and beverage products.

Restraining Factors

Restraints in the pea protein isolate market include high production costs, limited raw material availability, and consumer reluctance towards new plant-based proteins. Some products may also suffer from taste and texture issues, and competition from other plant proteins may be a restraint for market growth.

Market Segmentation

The pea protein isolates market share is classified into product type, processing method, and application. 

• The high-purity pea protein isolate (>85%) segment dominated the market in 2023 and is projected to grow at a CAGR during the forecast period. 

Based on the product type, the pea protein isolate market is divided into low-purity pea protein isolate (75%-80%), medium purity pea protein isolate (80%-85%), and high-purity pea protein isolate (>85%). Among these, the high-purity pea protein isolate (>85%). segment dominated the market in 2023 and is projected to grow at a CAGR during the forecast period. This is because of its better nutritional profile, which is highly valued in health-focused food and beverage products, including protein supplements, plant-based meat alternatives, and functional foods. Its higher protein content, better digestibility, and ability to meet clean-label and premium product demands make it more appealing to manufacturers catering to health-conscious and performance-driven consumers. Additionally, the growing demand for high-quality, allergen-free, and sustainable protein sources further boosts its market share.

• The wet segment accounted for a substantial share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.

Based on the processing method, the pea protein isolate market is divided into dry, and wet. Among these, the wet segment accounted for a substantial share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. This method generally yields higher-quality protein isolates with better functional properties, such as improved solubility and emulsification. Wet processing also allows for the extraction of a broader range of proteins, making it a preferred choice for manufacturers aiming to create high-performance, clean-label plant-based products, particularly in the food and beverage industry. The increasing demand for premium, nutritious, and versatile pea protein further supports the growth of the wet processing method.

• The sports nutrition food segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.

Based on the application, the pea protein isolate market is divided into sports nutrition food, energy drinks, health food, pet food, and others. Among these, the sports nutrition food try segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. This is due to the increasing demand for plant-based protein in the fitness and wellness space, driven by health-conscious consumers and athletes requiring vegan, allergen-free, and highly digestible protein sources, is causing this growth. A high protein content and amino acid profile make it increasingly used for protein bars, shakes, and other sports nutrition products, accounting for its swift growth in that segment.

Regional Segment Analysis of the Pea Protein Isolate Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the pea protein isolate market over the predicted timeframe.

North America is anticipated to hold the largest share of the pea protein isolate market over the predicted timeframe. This is because of the region's high demand for plant-based proteins, which is highly driven by the health-conscious population, the vegan and vegetarian diets, and a rise in the awareness of sustainability. North America also has an established food and beverage industry, which is adopting plant-based alternatives at a very fast pace. The region is, therefore, an important market for pea protein isolate. A number of leading food manufacturers, along with an increasing number of fitness and wellness trends, make the region very dominant. For instance, in 2020, Roquette Freres partnered with two other companies in a collaborative R&D initiative to improve Canada's plant protein ecosystem. The investment of USD 19.2 million will be used to overcome the challenges in pea processing, develop pea and fava bean products, and introduce new processing technologies.

Europe is expected to grow at a rapid CAGR of the pea protein isolate market during the forecast period. The trend toward plant-based diets, the growing demand for vegan and allergen-free protein sources, and government initiatives supporting sustainable agriculture are some of the factors driving the growth of this market. Europe's strong focus on health and sustainability, coupled with the rise of plant-based food brands and innovations in food technology, contributes to its rapid expansion in this market.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global pea protein isolate market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Roquette Freres
• Ingredion Incorporated
• Cargill, Incorporated
• Bunge Limited
• Tate & Lyle PLC
• Axiom Foods, Inc.
• Burcon NutraScience Corporation
• PepsiCo, Inc.
• The Greenleaf Foods, SPC
• Proterra Ingredients
• Naturz Organics
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Development

• In July 2024, Ingredion Incorporated announced the release of Vitessence Pea 100 HD, a new pea protein enhanced for cold-pressed bars for Canada and U.S. markets. It delivers softness throughout the shelf life of cold-pressed bars.

Market Segment

• This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the pea protein isolate market based on the below-mentioned segments: 

Global Pea Protein Isolate Market, By Product Type

• Low Purity Pea Protein Isolate (75%-80%)
• Medium Purity Pea Protein Isolate (80%-85%)
• High Purity Pea Protein Isolate (>85%)

Global Pea Protein Isolate Market, By Processing Method

• Dry
• Wet

Global Pea Protein Isolate Market, By Application

• Sports Nutrition Food
• Energy Drinks
• Health Food
• Pet Food
• Others

Global Pea Protein Isolate Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa