The global yellow pea protein market is poised for significant growth, driven by evolving consumer trends and an increasing demand for plant-based proteins. As health-conscious consumers and fitness enthusiasts continue to seek sustainable and nutritious food options, yellow pea protein has emerged as a leading supplement in the food and beverages sector. Primarily extracted from yellow peas, this protein is gaining popularity for its health benefits and versatile applications, including protein shakes, vegan burgers, and plant-based milk.

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Key Drivers of Market Growth

Over the past decade, the food industry has witnessed the rise of new trends such as veganism, clean-label products, and chemical-free diets. These trends have fueled the steady growth of yellow pea protein, a trend that is expected to gain further momentum during the forecast period. The health benefits associated with yellow pea protein, such as aiding in weight loss, muscle growth, and maintaining cardiac health, have garnered significant interest from food manufacturers.

Plant-based Food Revolution

The surge in popularity of plant-based food products over the last decade has been a crucial factor in driving the demand for plant-based proteins, including yellow pea protein. Its long shelf life, ease of incorporation into various foods, stable pricing, nutrient content, and sustainability are key attributes that have contributed to its increasing use in the food industry. Currently, yellow pea protein is being extensively used to manufacture a variety of products, from protein shake powders to vegan burgers and plant-based milk.

Market Projections

With these positive trends, the global yellow pea protein market is projected to reach a market value of approximately USD 3.1 billion by the end of 2030. The market is anticipated to grow at a healthy CAGR of 6.1% during the forecast period. The entry of numerous food manufacturers focusing on plant-based and vegan products is expected to further propel the market's expansion.

Growing Popularity as an Alternative Protein Source

Yellow pea protein is on the verge of mainstream recognition as niche trends like veganism and plant-based diets continue to gain traction. The increasing number of health-conscious and fitness-savvy consumers, particularly in Europe and North America, is expected to bolster the yellow pea protein market. As an excellent source of iron, yellow pea protein is also becoming popular among dieticians who recommend it for its health benefits.

Adoption by Food Manufacturers

Environmental concerns and reports of animal cruelty have led modern consumers to shy away from meat-based products, exploring alternative protein sources instead. This shift has prompted food manufacturers to incorporate yellow pea protein into their product portfolios. Notably, companies like Warburtons have introduced yellow pea protein into their existing range of products, reflecting its growing popularity. The non-allergenic and environmentally friendly nature of yellow pea protein has further solidified its position as an exceptional protein source.

Impact of COVID-19

The COVID-19 pandemic has had a minor impact on the global yellow pea protein market. Although stringent lockdowns and trade restrictions have affected offline sales, the pandemic has also driven consumers away from meat-based products due to health concerns. This shift has increased the traction for plant-based proteins, including yellow pea protein, particularly in the Asia Pacific region. The market is expected to recover and show signs of growth by the last quarter of 2020.

Regional Market Insights

North America is currently leading the yellow pea protein market, followed by Europe. The rising awareness of health and wellness and the growing vegan and flexitarian population in North America are key factors driving the demand for yellow pea protein in the region. East Asia is also expected to witness significant growth, with a projected CAGR of 8.4% by 2030.

Market Segmentation

• Nature: Organic yellow pea protein is expected to grow at a CAGR of 7.1% during the forecast period. Conventional yellow pea protein is anticipated to dominate the market with a 93% share by 2030.
• Product Type: Protein concentrates and isolates are leading the market with shares of approximately 47% and 24%, respectively, in 2020.
• End Use: The food processing segment dominates with a 50% share in 2020, and the sports nutrition and nutraceutical segments are expected to hold 26% and 18% shares, respectively.
• Processing Type: Dry processing leads with a 68% share in 2020, while wet processing is projected to grow at a CAGR of 6.8% during the forecast period.

Strategic Initiatives

Key players in the yellow pea protein market, such as Roquette Frères, Cargill Inc., and Kerry Group PLC, are investing in research and development to produce innovative products. Acquisitions, mergers, and partnerships are also common strategies to expand business footprints and strengthen supply chains.

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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