Market Size of north america pea protein ingredients Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 195.59 Million |
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Market Size (2029) | USD 256.65 Million |
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Largest Share by End User | Food and Beverages |
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CAGR (2024 - 2029) | 5.58 % |
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Largest Share by Country | United States |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
North America Pea Protein Ingredients Market Analysis
The North America Pea Protein Ingredients Market size is estimated at 195.59 million USD in 2024, and is expected to reach 256.65 million USD by 2029, growing at a CAGR of 5.58% during the forecast period (2024-2029).
195.59 Million
Market Size in 2024 (USD)
256.65 Million
Market Size in 2029 (USD)
6.75 %
CAGR (2017-2023)
5.58 %
CAGR (2024-2029)
Largest Market by Form
58.77 %
value share, Isolates, 2023
Higher protein content and lower carbohydrate content of pea isolates, compared to other forms, have increased their demand, making them the largest segment by form.
Largest Market by End User
46.44 %
value share, Food and Beverages, 2023
The F&B segment dominates the market due to the high demand for pea protein as a meat alternative since it provides quick rehydration, neutral taste, and texturizing properties.
Fastest Growing Market by Form
6.08 %
Projected CAGR, Isolates, 2024-2029
The rising application of isolate pea protein in functional beverages, bakery, snacks, supplements, and animal feed is projected to drive the segment in the forecast period.
Fastest Growing Market by End User
8.23 %
Projected CAGR, Food and Beverages, 2024-2029
The projected growth of the F&B sector is attributed to the constant product launches, driving the demand for pea protein in the meat alternative and snacks industries.
Leading Market Player
17.77 %
market share, International Flavors & Fragrances, Inc., Inc.
Being the market leader, the company has mainly focused on product innovation and partnerships to augment the production of pea protein, strengthening its market position.
F&B sector accounted major share in 2022 with an growing demand for meat alternatives products.
- The food and beverage segment is the region's leading application segment for pea proteins, led by meat alternatives and RTE/RTC food products. In 2022, these two sub-segments held a volume share of 57% in the overall pea protein consumed in North America. Another important segment for pea protein is the supplements segment, which registered a CAGR of 4.47% during the study period. This progress indicates a trend of supplements becoming a common part of daily life and being considered more wholesome, satisfying, and nutritious.
- The increasing preference for plant protein-based foods and beverages is leading companies to invest strategically in the industry. North America is becoming one of the prime established markets for plant-based meat globally, with the meat and meat alternatives segment expected to grow the fastest with respect to pea protein. The segment is projected to register a CAGR of 10.48% during the forecast period.
- In the region, veganism is becoming more popular. More people are switching to vegan diets and only buying plant-based products. The increasing acceptance of vegan diets is anticipated to be advantageous for manufacturers of plant-based protein supplements. In 2021, 0.5% of the US population (1.62 million) was estimated to be vegan. While a small number of Americans are vegan, in reality, the number of people who are not completely vegan but aspire to be is far higher. 39% of Americans state that their diets do not consist entirely of plant-based foods, but they want to become fully vegan by avoiding as many animal-related foods as possible.
Understand The Key Trends Shaping This Market
- The United States retained its top position in the region in 2022. Pea protein has gained significant traction in the country due to widespread consumer acceptance of versatility across different applications. Manufacturers also prefer pea protein, quoting its ability to meet nutritional, functional, and label objectives. The country was followed by Mexico and Canada in terms of market value, driven by the food and beverage sector.
- Companies are ramping up their production to address the growing demand for pea protein in the United States. In 2021, Cargill's Puris launched its new US facility with a forecast to double the production of its pea protein ingredient. Similarly, Ingredion has expanded its “on-trend” line of plant-based solutions for the F&B industry, adding two pea-based ingredients to its Nebraska-based pea protein factory. Such constant competitive developments in the region are anticipated to further drive the growth of the F&B sector, registering a CAGR of 5.49%, by volume, during the forecast period.
- Mexico is the fastest-growing country in the global pea protein market. It is projected to register a CAGR of 8.05% in terms of value during the forecast period. There is an increasing concern for mitigating the threat of serious diseases such as cardiovascular diseases and obesity associated with the excess consumption of meat, which is the major component of Mexican food. About 73% of the Mexican population is overweight. This is causing people to shift to healthier alternatives, such as pea-based protein products, thereby resulting in market growth.
