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The Organic Pea Protein Market size is estimated to reach $36.4 billion by 2027. Furthermore, it is poised to grow at a CAGR of 12.6% over the forecast period of 2022-2027. Organic Pea Proteins are an excellent source of plant-based proteins that are scientifically proven to support the maintenance and growth of muscle mass and also contain all nine of the essential amino acids. Pea proteins contain 60-65% of carbohydrates, such as monosaccharides, oligosaccharides, and polysaccharides. It is a high-quality vegan protein rich in iron and branched-chain amino acids is absorbed and digested well and also works with a variety of vegan diets. Pea proteins have a good potential as an additive for emulsions and other meat products owing to their promising functional properties. The rise in the demand for wheat protein, growing inclination towards texturized vegetable proteins, and the increase in the adoption of pea proteins and soy protein as foaming agents are the major factors propelling the growth of the market. The robust growth in the applications, such as meat analogs, nutritional supplements, snacks & bakery products, beverages, and others are some of the factors driving the Organic Pea Protein Industry forward in the projected period of 2022-2027.
Organic Pea Protein Market Segmentation Analysis- By Type
The Organic Pea Protein market based on type can be further segmented into Isolates, Concentrates, and Textured. Isolates held a dominant market share in the year 2021. Pea Protein Isolates are pure vegetarian supplements that are suitable for vegans looking for non-animal source of proteins. Organic pea protein and soy protein isolates are relatively low in fiber and does not cause gassiness and bloating, which is propelling the demand for pea protein isolates.
However, Organic Pea Protein Concentrates is estimated to be the fastest-growing, with a CAGR of 13.1% over the forecast period of 2022-2027. It is owing to their ability to enhance volume and texture in various food & beverage products. Pea Protein Concentrates are fine powdered materials that are made from the milling of dehulled peas. The applications of organic pea protein and wheat protein concentrates are increasingly found in healthy, protein-fortified, and baked goods, which is driving the growth of the organic pea protein market. Moreover, in a survey conducted, it was found that consumers ( 8 out of 10) tend to look for proteins, whenever they make a purchase decision.
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Organic Pea Protein Market Segmentation Analysis- By Form
The Organic Pea Protein market based on Form can be further segmented into Dry and Liquid. Dry segment held a dominant market share in the year 2021. Predominantly, the demand has been created by the bakery and confectionery sub-segment as it heavily utilizes dry pea proteins owing to low capital requirement, water consumption, and lower energy compared to wet extraction. Dry processing occurs upon grinding, drying, and milling whole peas, separating protein fractions based on different particle sizes with a stream of air. Moreover, the products derived by using dry processing have a protein content between 50 to 60 wt%, which is propelling the demand for dry pea protein and soy protein in various food applications.
However, Liquid is estimated to be the fastest-growing, with a CAGR of 12.9% over the forecast period of 2022-2027. It is owing to the robust need and the growing demand for plant-based ingredients in the form of liquids. The key players across the world are focusing on developing high-quality organic pea proteins in liquid form for various food applications.
Organic Pea Protein Market Segmentation Analysis- By Geography
The Organic Pea Protein market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 35% in the year 2021 as compared to the other counterparts. It is owing to the robust demand from the end-use industries, such as food and beverages. The key players in the region are focusing on expansions to meet the growing demand for organic pea proteins and texturized vegetable proteins. As per the Plant Based Association analysis, in 2020, the plant-based meat segment held a revenue size of $7 billion.
Furthermore, the region is estimated to offer lucrative growth opportunities to marketers. For example, Companies such as and Beyond Meat and Impossible Foods (US) are extensively utilizing textured pea proteins in the meat substitutes industry. Owing to such reasons, the projected period of 2022-2027 would prove out beneficial for North America.
Organic Pea Protein Market Drivers
A rising inclination towards organic plant-protein foods have readily aided the market growth
According to the Institute of Food Technologists (IFT), 39% of consumers in the United States are trying to eat more plant-based foods and 42% of consumers are indicating an awareness towards various protein sources and texturized vegetable proteins. Based on the study of Archers Daniel Midland (ADM), Consumers are demanding plant-based products to be formulated with plant-based blends, such as pea combined with beans to deliver the craveable flavor. The change in consumer preferences showcased an increasing shift towards adapting to a nutritional diet centered towards a sustainable lifestyle and lesser dependency on animal protein products. Pea protein contains all the essential amino acids that are lacking in other vegetables, such as lysine, which is one of the major factors propelling the growth of the organic pea protein market.
The growing demand for food and beverages with functional ingredients has benefitted the consumption of Organic Pea Protein as an ingredient
According to the Hartman Group survey, 19% of consumers were already using functional foods for immunity reasons and 48% of consumers are interested and the percentages for functional beverages were 13% and 46%. Functional ingredients are increasingly being incorporated in food and beverages industry owing to their ability to support certain functions of the body, such as promoting digestion, improving concentration and attention, and have a positive effect on eye health. Pea protein concentrates are widely being used as ingredients to enhance volume and texture in various food & beverage products, which is one of the major factors propelling the growth of the organic pea protein market. Pea protein ingredients are also used as a low-cost functional ingredient in food manufacturing for improving the nutritional value, which is further driving the growth of the market.
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Organic Pea Protein Market Challenges
Limited Production Capacity of Pea Protein is one of the major factors impeding the market growth
Limited production capacity of pea proteins is one of the major factors impeding the growth of the organic pea protein market. There is a rapid increase in the need to expand capacity to effectively compete with soy plant protein products. The key companies are focusing on utilizing high whole yellow pea production by enhancing mill processing capabilities within the United States and Canada. Food ingredient companies in Europe are looking to partner with cost-competitive processing companies and establish overseas operations. However, the companies have not become fully successful in building partnerships. China is also planning to well position itself to meet pea protein demand as it a major consumer of pea starch.
Organic Pea Protein Market Competitive Landscape
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Organic Pea Protein Market. The top 10- Organic Pea Protein Market companies are-
The Scoular CompanyIngredion
IncorporatedShaanxi Fuheng (FH) Biotechnology Co. Ltd
World Food Processing, L.L.C
Roquette
Archer-Daniels-Midland Company (ADM)
Zelang Group
Bioway
Farbest Brands
A&B Ingredients
Recent Developments
In November 2021, Roquette has launched an organic pea protein production site to boost the plant-based food sector. The plant is aimed to help the customers move forward rapidly on development. Moreover, the plant is a proof-point of sustainable development approach, with 100% optimized water management and hydroelectricity power.
In December 2020, Ingredion Incorporated has launched pea protein for meeting the increasing consumer demand for high-protein products. This pea protein is used for applications, such as meat and dairy-alternative products, nutrition and sports bars, snacks, powdered and ready-to-drink beverages, baking mixes, and better-for-you baked goods. These pea proteins enable manufacturers to develop various products with consumer-preferred qualities and high protein on-pack claims.
In September 2020, The Archer-Daniels-Midland Company (ADM) has launched organic Arcon T textured pea proteins that have a meat-like texture, for improving both density and texture of meat alternatives. These textured pea proteins unlock a limitless range of possibilities to create exciting products in the plant protein space. The company is focusing on offering a full portfolio of textured wheat, soy, and pea proteins.
Key Takeaways
Geographically, North America held a dominant market share in the year 2021. It is owing to the presence of robust manufacturing capabilities and increase in the inclination towards plant proteins as a foaming agent owing to the growing awareness among the young population. Moreover, well-established food and beverage industry has given the much-needed push for using such ingredients.
The robust growth in various applications, such as meat analogues, nutritional supplements, snacks & bakery products, beverages, and others are some of the factors driving the Organic Pea Protein Market. However, the limited production capacity of pea proteins is one of the major factors impeding the market growth.
A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Organic Pea Protein Market Report.
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