Global Yellow Pea Protein Market Overview
As per MRFR analysis, the Yellow Pea Protein Market Size was estimated at 2.65 (USD Billion) in 2022. The Yellow Pea Protein Industry is expected to grow from 2.75(USD Billion) in 2023 to 3.79 (USD Billion) by 2032. The Yellow Pea Protein Market CAGR (growth rate) is expected to be around 3.64% during the forecast period (2024 - 2032).
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Yellow Pea Protein Market Trends Highlighted
The Yellow Pea Protein Market is experiencing a surge in demand due to rising consumer awareness about plant-based protein sources. Consumers seek healthier and sustainable alternatives to animal-based proteins, making yellow pea protein an ideal choice for food and beverage manufacturers. Key market drivers include the growing vegan and vegetarian population, an increase in demand for plant-based protein supplements, and a surge in the adoption of flexitarian diets.
Emerging opportunities for market expansion lie in the exploration of new applications in food and beverage products, such as dairy alternatives, meat substitutes, and protein-fortified snacks. Food manufacturers are actively seeking novel ways to incorporate yellow pea protein into their formulations to meet consumer demand for healthier options.
Recent market trends indicate a shift towards cleaner labels and transparency in food production. Consumers are seeking products that align with their values, driving manufacturers to prioritize ethical and sustainable sourcing of yellow pea protein. Additionally, advancements in extraction and processing technologies have improved the nutritional profile and functionality of yellow pea protein, making it a more appealing option for manufacturers and consumers alike.
Yellow Pea Protein Market Drivers
Rising Demand for Plant-Based Proteins
The trend of increasing awareness of the advantages of plant-based proteins for health is a driver of the worldwide market for yellow pea protein. Many consumers are looking for alternatives to proteins from meat and other animal sources, which they perceive as being health-wise disadvantages to them. In the meantime, this growth of interest in alternative vegetarian foodstuffs corresponds with a number of ethical principles along with environmental considerations.The interest of the related food and beverage manufacturing companies in the value of yellow pea protein is at the same time accounted for by its richness in such deficit-provoking nutrients as essential amino acids and fiber. Therefore, the demand for yellow pea protein for application in a variety of food and beverage items is likely to go up.
Increasing Popularity of Vegan and Vegetarian Diets
Another major factor contributing to the expansion of the Yellow Pea Protein Market is the increase in vegan and vegetarian diets. Ethical concerns about animal welfare, environmental sustainability, and health issues are driving the adoption of veganism and vegetarianism around the world. Yellow pea protein is commonly used in plant-based meat alternatives, dairy substitutes, and various other vegan foods, and as such, it provides an excellent source of protein for both vegans and vegetarians.As these diets become more popular, the demand for yellow pea protein is expected to increase accordingly.
Expanding Applications in the Food and Beverage Industry
Yellow pea protein demonstrates versatility and is suitable for various food and beverage applications. It can be applied to different products, such as meat alternatives, plant-based dairy goods, confectionery, bakery products, snacks, and supplements. The functional properties of yellow pea protein, such as solubility, emulsification, and gelling, make it a beneficial ingredient to food developers and manufacturers striving to make their products more nutrient-rich and functional. The fact that its applications are increasing contributes to the growth of the Yellow Pea Protein Market.
Yellow Pea Protein Market Segment Insights
Yellow Pea Protein Market Type Insights
The Yellow Pea Protein Market is segmented by Type into Isolates, Concentrates, and Hydrolysates. Isolates accounted for the largest share of the global market in 2023 and are projected to retain their dominance throughout the forecast period owing to their high protein content and functional properties. Isolates are widely used in sports nutrition, weight management, and clinical nutrition applications due to their high bioavailability and rapid absorption rate. They are also increasingly used in plant-based meat alternatives and dairy substitutes.
Concentrates are another important segment of the market, offering a balance between protein content and cost-effectiveness. They are widely used in food and beverage applications such as protein bars, smoothies, and bakery products. Concentrates are also gaining traction in the pet food industry as a high-quality protein source. Hydrolysates are derived from isolates or concentrates through enzymatic hydrolysis, which breaks down the protein into smaller peptides and amino acids. Hydrolysates are highly digestible and have enhanced solubility, making them suitable for use in a wide range of applications, including infant formula, medical foods, and dietary supplements.
The Yellow Pea Protein Market is driven by rising consumer demand for plant-based proteins, increasing awareness of the health benefits of yellow pea protein, and growing applications in various industries. The market is expected to witness significant growth in the coming years, driven by the increasing adoption of plant-based diets, technological advancements, and expanding applications in food, beverage, and other industries.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Yellow Pea Protein Market Grade Insights
The market share of the market is expected to be dominated by the food-grade segment since yellow protein has found applications in the food and beverage industry. Yellow pea food grade proteins have found application in processed foods, bakery products, and nutritional supplements. The market share of the beverage-grade segment is expected to grow at a robust rate since plant-based beverages and dairy alternatives are increasingly gaining popularity. The pharmaceutical grade segment is also anticipated to grow at a steady rate since yellow pea protein is increasingly being used as a natural ingredient in nutraceuticals and functional foods.
Yellow Pea Protein Market Functionality Insights
The functionality segment of the Yellow Pea Protein Market is characterized by its unique ability to provide a range of functional properties, including emulsification, gelation, and foaming. These properties make yellow pea protein a valuable ingredient in various food and beverage applications. In 2023, the emulsification segment held a significant market share due to the increasing demand for plant-based alternatives to traditional emulsifiers. The gelation segment is projected to witness substantial growth over the forecast period, driven by the rising popularity of meat substitutes and other plant-based products.The foaming segment is expected to contribute significantly to the Yellow Pea Protein Market revenue, owing to its wide application in bakery and confectionery products. Overall, the functionality segment offers immense growth opportunities for market players, driven by the crescent demand for plant-based and functional ingredients in the food and beverage industry.
Yellow Pea Protein Market Application Insights
The Yellow Pea Protein Market segmentation by application comprises Food and Beverages, Dietary Supplements, and Animal Feed. Among these, the Food and Beverages segment held the largest market share in 2023 and is projected to maintain its dominance throughout the forecast period. The rising demand for plant-based meat alternatives, dairy products, and bakery goods is primarily driving the growth of this segment.
The Dietary Supplements segment is anticipated to witness significant growth over the coming years due to increasing consumer awareness regarding the health benefits of pea protein, such as muscle recovery and weight management. The Animal Feed segment is expected to grow steadily, driven by the increasing adoption of pea protein as a sustainable and cost-effective alternative to traditional animal feed ingredients.
Yellow Pea Protein Market Processing Method Insights
The Yellow Pea Protein Market is segmented into dry milling and wet milling based on processing methods. Dry milling is a mechanical process that separates the protein from the rest of the pea. Wet milling is a chemical process that uses water to extract the protein from the pea. In 2023, the dry milling segment accounted for the largest share of the Yellow Pea Protein Market, and it is expected to continue to dominate the market over the forecast period. The growth of the dry milling segment can be attributed to the increasing demand for plant-based proteins and the relatively low cost of production.The wet milling segment is expected to grow at a faster CAGR over the forecast period. The growth of the wet milling segment can be attributed to the increasing demand for high-quality protein isolates and concentrates.
Yellow Pea Protein Market Regional Insights
The regional segment of the Yellow Pea Protein Market exhibits a diverse landscape with varying market dynamics. North America holds a significant share of the market, driven by rising demand for plant-based proteins and increasing awareness about the health benefits of yellow pea protein.
Europe follows closely, with a growing vegan and vegetarian population fueling market growth. The Asia-Pacific region is anticipated to witness substantial growth in the coming years, owing to the increasing disposable income and changing dietary habits in countries like China and India.South America, the Middle East, and Africa regions are expected to contribute a smaller share to the overall market but are poised for steady growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Yellow Pea Protein Market Key Players And Competitive Insights:
The main players in the Yellow Pea Protein Market understand the increasing demand from consumers who are looking for brands that share their values. The competitive landscape is primarily shaped by businesses with the capacity to provide consumers with transparency, sustainability and health-oriented solutions.
Among the most influential Yellow Pea Protein Market players are such companies as AGT Food and Ingredients, Axiom Foods, Cosucra Groupe Warcoing, DuPont, and The Scoular Company. In particular, from the largest players in the Yellow Pea Protein Market, AGT Food and Ingredients can be distinguished for its strong focus on manufacturing sustainable and innovative pea protein varieties.AGT Food and Ingredients has concentrated a considerable part of its investment on the research and development of nutritious and high-quality pea protein ingredients.
On top of that, AGT Food and Ingredients is highly successful in offering clean-label and non-GMO products, which strongly aligns with consumers’ preferences. The company has developed notable competencies, such as its well-developed distribution network and broad global coverage, which further strengthen its competitive advantages. One of the companies that AGT Food and Ingredients has to compete with is Axiom Foods. Axiom Foods is recognized as a leader in providing plant-based proteins, including pea ones, and is also a company with a strong focus on the development and innovation of plant-based meat alternatives.
Key Companies in the Yellow Pea Protein Market Include
Yellow Pea Protein Market Industry Developments
The Yellow Pea Protein Market is projected to grow from USD 2.75 billion in 2023 to USD 3.79 billion by 2032, exhibiting a CAGR of 3.64% during the forecast period. Rising demand for plant-based protein, coupled with growing awareness about the nutritional benefits of yellow pea protein, is driving market growth. Additionally, increasing applications in food and beverage, animal feed, and nutraceuticals are contributing to the market's expansion.
Key industry participants are focusing on product innovation and strategic partnerships to cater to evolving consumer preferences and expand their market presence. Recent developments include the launch of new yellow pea protein-based products, such as protein bars, snacks, and beverages, by major food and beverage companies. Moreover, the growing adoption of yellow pea protein as a sustainable and environmentally friendly alternative to animal-based proteins is expected to bolster market growth in the coming years.
Yellow Pea Protein Market Segmentation Insights
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Yellow Pea Protein Market Type Outlook
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Isolates
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Concentrates
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Hydrolysates
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Yellow Pea Protein Market Grade Outlook
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Food Grade
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Beverage Grade
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Pharmaceutical Grade
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Yellow Pea Protein Market Functionality Outlook
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Emulsification
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Gelation
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Foaming
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Yellow Pea Protein Market Application Outlook
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Food and Beverages
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Dietary Supplements
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Animal Feed
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Yellow Pea Protein Market Processing Method Outlook
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Yellow Pea Protein Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
2.65(USD Billion) |
| Market Size 2023 |
2.75(USD Billion) |
| Market Size 2032 |
3.79(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.64% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Ingredion, ADM, Roquette Freres, Kerry, Willmar AgriProduct, Cargill, Protein Industries Canada, Tate Lyle, DuPont, Cosucra Groupe Warcoing, Farbest Brands, Symbiosis, Nantes Ingredients, Tereos, Agropur Ingredients |
| Segments Covered |
Type, Grade, Functionality, Application, Processing Method, Regional |
| Key Market Opportunities |
Plant-based meat alternatives Growing demand for vegan protein Sports nutrition applications Functional food and beverage products Clean label and sustainability initiatives |
| Key Market Dynamics |
Plant-based protein surge Growth of veganism Expansion into new applications Technological advancements Focus on sustainable food sources |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Yellow Pea Protein Market is anticipated to be valued at 2.75 Billion USD in 2023.
The Yellow Pea Protein Market is estimated to grow at a CAGR of 3.64% from 2024 to 2032.
North America is expected to dominate the Yellow Pea Protein Market in 2023, with a market share of approximately 35%.
Yellow Pea Protein is primarily used in the food and beverage industry, particularly in the production of plant-based meat alternatives, protein supplements, and dairy alternatives.
Key competitors in the Yellow Pea Protein Market include AGT Foods, Inc., Puris Foods, Inc., Axiom Foods, Inc., and Roquette Frres.
The rising demand for plant-based protein alternatives, increasing awareness of the health benefits of yellow pea protein, and the growing popularity of vegan and vegetarian diets are the key factors driving the growth of the Yellow Pea Protein Market.
Challenges faced by the Yellow Pea Protein Market include fluctuations in raw material prices, competition from other plant-based protein sources, and the need for further research and development to improve the taste and texture of yellow pea protein products.
Opportunities in the Yellow Pea Protein Market include the growing popularity of clean-label products, the increasing demand for sustainable and environmentally friendly food sources, and the potential for innovation in new product development.
Key trends shaping the Yellow Pea Protein Market include the rising adoption of flexitarian diets, the increasing demand for personalized nutrition, and the growing focus on the development of novel and functional food ingredients.
The Yellow Pea Protein Market is expected to reach a valuation of 3.79 Billion USD by 2032.
