Yellow Pea Protein Market Worth $1.09 Billion by 2029

According to this latest publication from Meticulous Research^®, the yellow pea protein market is expected to reach $1.09 billion by 2029, at a CAGR of 15.8% from 2022 to 2029. The growth of this market is driven by factors such as the rising interest in plant-based nutrition, increasing health & wellness trends, growth in the plant-based food market, rising consumer awareness about the nutritional benefits offered by pea and pea-based products, and increasing development of innovative pea protein ingredients by key players.

Furthermore, growing opportunities in emerging markets and increasing launches of pea protein-based products are expected to provide significant growth opportunities for players operating in this market. However, the significant preference for animal-based protein hinders the growth of the yellow pea protein market to a notable extent.

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The yellow pea protein market is segmented based on type, source process, processing method, form, application, and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.

Based on type, the yellow pea protein market is segmented into yellow pea protein isolate, yellow pea protein concentrate, yellow textured pea protein, yellow pea protein hydrolysate, yellow pea flour, and other yellow pea proteins. In 2022, the yellow pea protein isolate segment is estimated to account for the largest share of the yellow pea protein market. The large market share of the yellow pea protein isolate segment is attributed to its high protein content and high emulsification & stability properties. Furthermore, yellow pea protein isolate has several application areas, including high-performance nutrition products and snack products, contributing to its increased demand. This segment is also expected to grow at the highest CAGR during the forecast period due to increasing demand from plant-based product manufacturers.

Based on source process, the yellow pea protein market is segmented into conventional yellow pea protein and organic yellow pea protein. In 2022, the conventional yellow pea protein segment is expected to account for the largest share of the yellow pea protein market. This segment's large market share is attributed to the advantages offered by conventional yellow pea protein over organic yellow pea protein, such as lower costs, longer shelf life, and the availability of substantial crop varieties. However, the organic pea protein segment is slated to 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.

Based on processing method, the yellow pea protein market is segmented into dry processing and wet processing. In 2022, the dry processing segment is estimated to account for the largest share of the yellow pea protein market. Dry processing requires lower capital and water & energy consumption compared to wet extraction, which contributes to the large market share of this segment. Additionally, the high demand from food & beverage manufacturers further drives the growth of this segment. However, the wet processing segment is slated to register the highest CAGR during the forecast period. Wet processing offers higher purity than the dry processing method, contributing to the increased demand for wet processing, subsequently driving the market growth of this segment.

Based on form, the yellow pea protein market is segmented into powder and liquid. In 2022, the powder segment is estimated to account for the largest share of the yellow pea protein market. The large market share of this segment is attributed to the higher demand for solid protein ingredients due to their benefits such as ease of handling & transportation, cost-effectiveness, minimal to zero formulation errors, and ingredient stability. However, the liquid segment is slated to register the highest CAGR during the forecast period. The growing demand for liquid yellow pea proteins from the dairy alternative industry and their increasing applications in innovative products drive the growth of this segment.

Based on application, the yellow pea protein market is segmented into nutrition & health supplements, meat & alternative meat products, bakery products, dairy & dairy alternatives, cereals & snacks, beverages, pet food, and other applications. In 2022, the nutrition & health supplements segment is estimated to account for the largest share of the yellow pea protein market. The large market share of this segment is attributed to factors such as the rising incidence of diseases due to improper nutrition, the benefits of pea protein in additional nutrition & sports performance products, and growing health & wellness trends. However, the meat & alternative meat products segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to growing veganism and the rising incidence of meat-borne diseases.

Based on geography, in 2022, North America is expected to account for the largest share of the yellow pea protein market. North America's large market share is attributed to the well-established food & beverage industry, the increasing sustainability concerns over animal-derived products, the increasing vegan population, the growing preference for meat alternatives, the increasing demand for healthy & nutritional products, and the large presence of pea protein manufacturers in the region. However, Asia-Pacific is slated to register the highest CAGR during the forecast period. The growth of this regional market is driven by the growing awareness about the importance of protein-rich diets coupled with increasing health consciousness among the general population, the booming food & beverage industry, the large vegan population, and the increasing number of pea protein-based product launches.

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Key Players:

The key players operating in the yellow pea protein market are Roquette Frères Le Romain (France), AGT Food and Ingredients Inc. (Canada), Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), Archer-Daniels-Midland Company (U.S.), E.I. Dupont De Nemours and Company (U.S.), Axiom Foods Inc. (U.S.), Burcon NutraScience Corporation (Canada), Glanbia Plc. (Ireland), Cosucra Groupe Warcoing SA (Belgium), Sotexpro (France), Farbest Brands (U.S.), Shandong Jianyuan Foods Co., Ltd. (China), The Emsland Group (Germany), and Nutri-Pea Ltd. (Canada).

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