Asia Pacific Pea Protein Market Size, Share & Trends Analysis Report By Product (Isolates, Concentrates), By Form (Dry, Wet), By Source, By Application (Food & Beverages, Animal Feed), By Country,- Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2033

Asia Pacific Pea Protein Market Size and Research

The Asia Pacific pea protein market size was exhibited at USD 588.75 million in 2023 and is projected to hit around USD 2,070.43 million by 2033, growing at a CAGR of 13.4% during the forecast period 2024 to 2033.

Asia Pacific Pea Protein Market Key Takeaways:

• The pea protein isolates segment accounted for a revenue share of 49.9% in 2023.
• The pea protein concentrates segment is expected to grow at a CAGR of 12.9% from 2024 to 2033.
• The yellow split peas segment dominated the market with a revenue share of 76.8% in 2023.
• The other sources segment, including lentils, green peas, chickpeas, and fava beans, is expected to grow at a CAGR of 11.3% from 2024 to 2033.
• The food & beverages segment dominated the market with a revenue share of 37.28% in 2023.
• The personal care & cosmetics segment is expected to grow at a CAGR of 12.4% from 2024 to 2033. 
• The dry pea protein segment accounted for a revenue share of 68.0% in 2023.
• The wet pea protein segment is expected to grow at a CAGR of 12.4% from 2024 to 2033.

Report Scope of Asia Pacific Pea Protein Market

Increased consumer focus on fit and active lifestyle, substantial presence of the vegan population in India, and growing penetration of organized and e-retail are a few factors augmenting the growth of the market. Moreover, growing competition among processed food & beverage companies is driving them to incorporate novel or healthy ingredients in their product to appeal to health conscious consumer base.

The Asia Pacific pea protein market accounted for a share of 27.7% of the global pea protein market in 2023. Pea protein is a clean-label, plant-based, and lactose-free protein source, unlike whey and casein proteins. Therefore, the growing consumption of dietary supplements, as well as functional foods due to changing lifestyles, is likely to favor market growth in the coming years. Moreover, a positive outlook toward the dietary supplements market in China, India, and Japan is expected to remain a favorable factor for market growth over the forecast period.

Asia Pacific Pea Protein Market By Product Insights

The pea protein isolates segment accounted for a revenue share of 49.9% in 2023. Pea protein isolates have good emulsification and non-allergic characteristics. Growing importance following workout routines in countries, such as India, China, and Indonesia, is expected to boost market growth from 2024 to 2033.

The pea protein concentrates segment is expected to grow at a CAGR of 12.9% from 2024 to 2033. The growing occurrence of gastrointestinal disorders has led to a greater emphasis on calorie-free and weight-reduction diets. This trend, combined with the lower cost of pea protein concentrate compared to isolate, is anticipated to encourage the use of pea protein concentrates in beverages, baked goods, and meat products in the coming years.

Asia Pacific Pea Protein Market By Source Insights

The yellow split peas segment dominated the market with a revenue share of 76.8% in 2023.A high protein content is widely found in yellow split peas, which makes them ideal for extracting pea protein. They are widely available, and offer favorable functional properties, ensuring a consistent supply, and a neutral flavor, making them versatile for various food applications. The fact that consumers are familiar with it and accept yellow split peas contributes to their prominence in the market.

The other sources segment, including lentils, green peas, chickpeas, and fava beans, is expected to grow at a CAGR of 11.3% from 2024 to 2033. They offer different amino acid compositions or micronutrient profiles, providing consumers with more options to meet their specific dietary requirements.

Asia Pacific Pea Protein Market By Application Insights

The food & beverages segment dominated the market with a revenue share of 37.28% in 2023. Food & beverage manufacturers use pea protein as nutritional supplements in energy drinks, fruit mixes, and bakery items. Moreover, the growing popularity of meat substitutes and increasing concern towards lactose intolerance among adults coupled with rising demand for gluten-free products are some of the key factors expected to drive market growth.

The personal care & cosmetics segment is expected to grow at a CAGR of 12.4% from 2024 to 2033. The growing demand for vegan and cruelty-free products as well as natural and plant-based ingredients is expected to drive the segment’s growth. Pea protein offers skin & hair benefits and is derived from plant sources, making it a perfect fit for the growing clean & sustainable beauty trend. Its natural origin and perceived benefits make it attractive for consumers seeking natural and plant-based ingredients in their personal care and cosmetics products.

Asia Pacific Pea Protein Market By Form Insights

The dry pea protein segment accounted for a revenue share of 68.0% in 2023. The manufacturing of pea protein through dry milling in combination with air classification helps retain the native functionality of protein ingredients. This type of process also results in providing utility savings in terms of reduced water & power usage. In this process, yellow or red peas are ground through an impact-driven method and jet milling process at numerous levels of classifier wheel speeds for providing pea flours with different particle distribution, protein content, and damaged starch levels. In addition, the removal of 97-98% of fiber content is done by using the dehulling process.

The wet pea protein segment is expected to grow at a CAGR of 12.4% from 2024 to 2033. The production of pea protein isolates employs wet processing technology using the acid or alkali solubilization technique. This stage is followed by the process of ultrafiltration or soelectric precipitation to extract higher protein content from a fraction of protein.

Country Insights

China Pea Protein Market Trends

The China pea protein market accounted for a revenue share of 25.1% in 2023. Rising income and rapid urbanization in China have led to changes in lifestyle, which, in turn, have promoted the change in food consumption trends in the country. China has witnessed a significant increase in per capita consumption of proteins. Although animal protein constitutes a major part of the overall protein consumption in the country, growing awareness regarding the availability and environmental and health benefits of plant-based protein products is expected to benefit the market growth.

India Pea Protein Market Trends

The pea protein market in India is projected to grow at a CAGR of 14.6% over the forecast period. Rising health awareness among people coupled with an increasing number of fitness clubs in India is anticipated to drive the market growth. Augmented demand for nutritional food & beverages among consumers in India is projected to positively impact market growth over the forecast period.

Asia Pacific Pea Protein Market Recent Developments

• In June 2022, Roquette Frères announced the launch of a new range of organic textured proteins made from fava and pea namely, NUTRALYS. This launch aimed to strengthen Roquette Frère's position in the overall protein industry

Some of the prominent players in the Asia Pacific pea protein market include:

• Shandong Jianyuan Foods Co., Ltd.
• Yantai Oriental Protein Tech, Co., Ltd.
• FENCHEM
• Martin & Pleasance
• Cargill, Inc.
• Archer Daniels Midland Company
• Ingredion Inc.
• International Flavors & Fragrances Inc.
• Foodchem International Corp.
• Kerry Group PLC
• Roquette Frères

Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Asia Pacific pea protein market

Product

• Isolates
• Concentrates
• Textured
• Hydrolysates

Form

• Dry
• Wet

Source

• Yellow Split Peas
• Others

Application

• Food & Beverages

• • Meat Substitutes
  • Bakery Goods
  • Dietary supplements
  • Beverages
  • Others

• Personal Care & Cosmetics
• Animal Feed
• Others

Country

• India
• China
• Japan
• Australia & New Zealand
• South Korea