The global pea protein market was valued at USD 2.12 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 12.1% from 2024 to 2030. The shift toward plant-based diets, driven by growing awareness of the environmental impact of animal agriculture and health concerns related to meat consumption, is encouraging consumers to seek alternatives. Pea protein, known for its high-quality nutritional profile, is becoming a preferred choice among vegans, vegetarians, and health-focused individuals. Its allergen-free nature—being free from soy and gluten—also makes it an appealing option for those with dietary restrictions.
The global trend toward vegetarianism and veganism is significantly influencing consumer behavior and driving demand for plant-based products. Pea protein is a highly adaptable ingredient used in a wide range of applications, including meat and dairy substitutes and functional foods. The increasing number of vegan-focused restaurants, cafés, and product launches tailored to these consumers is further fueling demand. Moreover, the rise of flexitarian diets—encouraged by health concerns over red meat and increasing sensitivity to gluten and lactose—continues to support market expansion.
Product Insights In 2022, the isolates segment led the market, capturing a 49.9% revenue share. Pea protein isolates are abundant in essential amino acids, especially branched-chain amino acids (BCAAs), which play a vital role in muscle development and recovery. They also offer high iron content and are easy to digest, making them ideal for health-conscious users. Their rising popularity is closely tied to growing interest in fitness, weight management, and general wellness. Furthermore, their benefits for heart health and muscle maintenance add to their appeal.
Form Insights The dry form segment held the largest revenue share in 2023. Dry processing techniques used in producing pea protein concentrates and isolates result in a highly concentrated product, making them efficient and desirable for both manufacturers and consumers. These dry forms are easy to store and transport, supporting their use in applications such as protein powders, bars, and meal replacement products. Their convenience fits well with the fast-paced lifestyles of today’s consumers who seek quick and efficient ways to meet their dietary needs.
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Source Insights Yellow split peas accounted for the largest revenue share in 2023. Their rich protein content and high levels of essential nutrients—such as fiber, vitamins, and minerals—make them highly suitable for extracting pea protein. Their wide availability ensures a stable supply, while their neutral taste and favorable functional properties make them a versatile base for various food products. The familiarity and consumer trust in yellow split peas also support their strong market position.
Application Insights In 2023, the food & beverages segment was the market leader due to the rising demand for plant-based, vegetarian, and vegan food options. Pea protein is valued for its nutritional profile and functional properties, which enhance the texture, stability, and overall nutrition of various food and beverage products. In baked goods, particularly gluten-free applications, pea protein supports water retention, gelation, and browning—making it a valuable ingredient for food developers.
Regional Insights North America led the pea protein market in 2023, accounting for 33.1% of global revenue. Retailers and food chains in the region are responding to the growing popularity of plant-based products by expanding their offerings and allocating more shelf space to pea protein-based items. The wide availability of these products in physical stores and online platforms has made it easier for consumers to explore and adopt them. The food service sector—including restaurants, cafés, and fast-food chains—is also embracing this trend, further boosting market growth.
Key Companies in the Pea Protein Market The companies listed below represent the major players in the pea protein industry and collectively drive key market trends:
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