Europe 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

Europe Pea Protein Market Size and Trends

The Europe pea protein market size was exhibited at USD 556.85 million in 2023 and is projected to hit around USD 1,698.85 million by 2033, growing at a CAGR of 11.8% during the forecast period 2024 to 2033.

Europe 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 projected to grow at a CAGR of 11.2% over the forecast period.
• The yellow split segment accounted for a revenue share of 78.3% in 2023.
• The other sources segment is anticipated to grow at a CAGR of 9.7% over the forecast period.
• The food & beverages segment accounted for a revenue share of 11.6% in 2023.
• The personal care & cosmetics segment is projected to grow at a CAGR of 11.9% over the forecast period. 
• 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 11.4% from 2024 to 2033.

Report Scope of Europe Pea Protein Market

Increasing market penetration of gluten-free foods in key markets including the UK and France on account of rising concerns over harmful effects associated with glutamic diseases is expected to favor the industry over the forecast years. Moreover, the rising popularity of sports nutrition products in Eastern European countries including Russia and Poland on account of newly launched protein-fortified powders in the market is projected to fuel product demand.

The Europe pea protein market accounted for a share of 26.2% of the global pea protein market in 2023. Europe's pea protein market is expected to witness steady growth over the forecast period owing to the rising consumer preference for vegan, vegetarian, or flexitarian diets and increasing awareness regarding health concerns, such as cancer, diabetes, and cardiovascular diseases, posed by animal-based proteins.

Europe 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 non-allergic and good emulsification characteristics. Food & beverage manufacturers are attracted by these characteristics and adopted protein isolates as nutritional supplements in fruit mixes, energy drinks, bakery items, and meat products. The sports nutrition industry is expanding in developed countries, such as the UK and Germany, due to new product launches in the energy mix category.

The pea protein concentrates segment is projected to grow at a CAGR of 11.2% over the forecast period. The growing adoption of pea protein concentrates in the manufacturing base of baked goods in the UK, France, and Germany considering proximity with equipment manufacturers and easy access to rice and wheat as raw materials is expected to boost the application of pea protein concentrates in the coming years.

Europe Pea Protein Market By Source Insights

The yellow split segment accounted for a revenue share of 78.3% in 2023. Yellow peas are applied in the food industry in the form of ingredients that are added to energy bars, veggie burgers, ice cream, popcorn, yogurt, and milk, among others. Yellow peas are the major raw materials used to produce pea protein.

The other sources segment is anticipated to grow at a CAGR of 9.7% over the forecast period. The segment’s growth is attributed to the enhanced nutrition profiles, the need for product diversification, and flavor variations.

Europe Pea Protein Market By Application Insights

The food & beverages segment accounted for a revenue share of 11.6% in 2023. The growing competition among processed food & beverage companies is driving them to incorporate novel or healthy ingredients in their product to appeal to the health-conscious consumer base. This trend is anticipated to favor market growth.

The personal care & cosmetics segment is projected to grow at a CAGR of 11.9% over the forecast period. The personal care and cosmetics industry in the region is experiencing key trends, including a growing awareness of hygiene and beauty consciousness among consumers. Urban consumers are increasing their spending on high-quality products, which has contributed to the industry's growth in recent years.

Europe Pea Protein Market By Form Insights

The dry pea protein segment accounted for a revenue share of 68.0% in 2023. The segment growth is attributed to the longer shelf life, higher protein concentration, convenience in handling & storage, and improved functionality. The manufacturing of pea protein through dry milling in combination with air classification helps retain the native functionality of protein ingredients.

The wet pea protein segment is expected to grow at a CAGR of 11.4% from 2024 to 2033. Wet pea protein maintains more of the natural properties and characteristics of whole peas, making it attractive to consumers looking for minimally processed whole food options. The wet pea protein offers simpler extraction techniques, which lead to lower production costs.

Country Insights

UK Pea Protein Market Trends

The UK pea protein market accounted for a revenue share of 22.9% in 2023. Increasing consumer awareness regarding a healthy lifestyle, a rising number of health and fitness centers, new product developments, and integration and consolidation of food technology are expected to drive the demand for pea protein in the country in the coming years.

Germany Pea Protein Market Trends

The pea protein market in Germany is projected to grow at a CAGR of 12.0% over the forecast period. A rise in the geriatric population in Germany and increasing use of plant protein products, such as pea, hemp, and soy, respectively, in sports nutrition applications, is likely to have a positive effect on its market over the next few years.

Europe Pea Protein Market Recent Developments

• In June 2023, Roquette Frères opened a new Food Innovation Center in France. The facility will provide formulators with various capabilities, including technical assistance, R&D support, state-of-the-art equipment, and scale-up testing, to accelerate product launches
  
  
• In October 2019, COSUCRA announced its plans to open a new pea processing plant in Aarhus, Denmark to strengthen its position in the plant-based protein ingredients market

Some of the prominent players in the Europe pea protein market include:

• COSUCRA
• SOTEXPRO
• Roquette Frères
• Cosucra Groupe Warcoing SA
• Kerry Group
• Ingredion Inc.
• Burcon NutraScience Corp.
• Glanbia Plc.
• Emsland Group.
• Farbest Brands

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 Europe 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

• Europe

• • Germany
  • UK
  • France
  • Italy
  • Spain
  • Sweden
  • The Netherlands