Pea Protein Market Size, Share & Trends Report

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 Region, And Segment Forecasts, 2023 - 2030

  • Report ID: 978-1-68038-458-1
  • Number of Pages: 125
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the pea protein market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for pea protein market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of pea protein market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Pea Protein Market Categorization:

The pea protein market was categorized into five segments, namely product (Isolates, Concentrates, Textured, Hydrolysates), form (Dry, Wet), source (Yellow Split Peas), application (Food & Beverages, Personal Care & Cosmetics, Animal Feed), region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa)

Segment Market Methodology:

The pea protein market was segmented into product, form, source, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The pea protein market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eighteen countries, namely, the U.S.; Canada; Mexico; the UK; Germany; France; Italy; Spain; Sweden; Netherlands; China; India; Japan; Australia & New Zealand; South Korea; Brazil; Argentina; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Pea protein market companies & financials:

The pea protein market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Burcon - Burcon was established in 1998 and is headquartered in Vancouver, Canada. It is engaged in the development of protein (plant-based) extraction and purification in Canada. The company produces a soy protein under the brand name CLARISOY, which finds application in dairy foods, coffee whiteners/creamers, and neutral (pH) beverages. It is a public company and trades on The Toronto Stock Exchange.

  • Roquette Frères - Roquette Frères was founded in 1933 and is headquartered in Lestrem, France. The company is involved in the production of starch and starch derivatives from corn, wheat, peas, and potatoes. These derivatives are used to manufacture ingredients for use in industries including pharmaceutical, food, paper, animal feed, textiles, and chemicals. It operates through six business segments, namely BioPharma, Pharma & Nutraceuticals, Cosmetics, Food & Nutrition, Animal Nutrition, and Industrial Markets.

  • The Scoular Company - The Scoular Company was founded in 1892 and is headquartered in Nebraska, U.S. It provides supply chain solutions to end-users and suppliers of grain, feed ingredients, and food ingredients. The company is engaged in the process of buying, storing, handling, processing, and selling ingredients and grain and also manages logistics and transport functions internationally. It is amongst the largest privately held companies in the U.S.

  • DuPont- DuPont was founded in 1802 and is headquartered in Wilmington, U.S. It operates as a global science and technology company. The company has various product lines including advanced printing solutions, adhesives, animal nutrition, biomaterials, clean technologies, construction materials, consumer products, dietary supplements, and others. It is a public company listed on The New York Stock Exchange.

  • Cosucra - COSUCRA was established in 1852 and is headquartered in Pecq, Belgium. The company is engaged in the manufacturing and distribution of food ingredients including chicory soluble fiber, pea protein isolate, and pea fiber. Its functional ingredients are widely utilized in dairy products, fruit juices, dietary supplements, meat & savory products, and animal feed. The company manufactures pea protein isolates containing protein composition from 88% to 90%. As of 2019, it had a presence in around 45 countries across Asia, Europe, North America, and South America with an employee strength of over 270.

  • Nutri-Pea -Nutri-Pea was established in 1997 and is headquartered in Manitoba, Canada. The company is engaged in manufacturing food ingredients from Canadian yellow peas. Its product portfolio comprises pea protein isolates, starch, and fiber products. Nutri-Pea utilizes wet milling as well as extraction processes for the production of protein ingredients. In the past few years, the company has received ISO 9001:2000, Kosher, Halal, and HACCP quality certifications for its production processes. As of 2019, it had a manufacturing facility spread across an area of 7,761 square feet and an employee strength of 50 people.

  • Shandong Jianyuan Group - Shandong Jianyuan Foods Co., Ltd. was founded in 2015 and is located in Zhaoyuan, China. The group is export oriented leading enterprise whose business covers R&D, manufacturing, planting, trade and other self-managerial import and export authority. The company is engaged in the production and distribution of vermicelli, rice noodles, pea proteins, fibers, and starch. The company operates as a subsidiary of Yantai Jincheng Food Co., Ltd. and had an employee strength of over 200. In the past few years, the company has received HACCP, ISO 9001, Kosher, Halal, and BRC quality certifications for its production processes.

  • SOTEXPRO - SOTEXPRO was established in 1995 and is headquartered in Bermericourt Marne, France. The company is a subsidiary of Gemef industries, a family-owned company since 1897, which has acquired a unique expertise in the field of pulses production and processing them into ingredients. The company is engaged in the manufacturing and distribution of functional ingredients for the food & beverage and animal feed industries.

  • Yantai Oriental Protein Tech, Co., Ltd. - Yantai Oriental Protein Tech Co., Ltd. was founded in 2008 and is headquartered in Zhaoyuan, China. Its product portfolio comprises pea fiber, pea protein isolates, pea protein concentrates, and pea starch. The company processes yellow peas into raw materials to manufacture finished goods. It manufactures protein extracts by applying advanced physical fractionation process using non-GMO peas from the U.S. and Canada.

  • PURIS - PURIS, formerly known as World Food Processing, was established in 1985 and is headquartered in Minneapolis, U.S. The company is engaged in the business of manufacturing and distribution of protein ingredients derived from corn, soy, and pea. As of 2019, the company had production facilities situated in Oskaloosa, Minnesota, and Wisconsin with accreditation for non-GMO certificates and employee strength of 100

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Pea Protein Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Pea Protein Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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