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Asia-Pacific Pea Protein Market Size

The Asia-Pacific pea protein market is experiencing significant growth, driven by its expanding application in the food and beverage sector, particularly in meat alternative products due to their hypoallergenic properties and amino acid profile. The market's expansion is further supported by the rising demand for plant-based ingredients in sports nutrition and animal feed, with China leading the region in growth due to its developing plant-based market and regulatory support for vegan products. India and Australia also show promising growth, fueled by the demand for clean-label ingredients and sustainable farming practices, respectively.

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Market Size of asia-pacific pea protein Industry

Asia-Pacific Pea Protein Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 596.8 Million
svg icon Market Size (2029) USD 826.4 Million
svg icon Largest Share by End User Food and Beverages
svg icon CAGR (2024 - 2029) 6.73 %
svg icon Largest Share by Country China
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Asia-Pacific Pea Protein Market Analysis

The Asia-Pacific Pea Protein Market size is estimated at 596.8 million USD in 2024, and is expected to reach 826.4 million USD by 2029, growing at a CAGR of 6.73% during the forecast period (2024-2029).

596.8 Million

Market Size in 2024 (USD)

826.4 Million

Market Size in 2029 (USD)

6.88 %

CAGR (2017-2023)

6.73 %

CAGR (2024-2029)

Largest Market by Form

56.37 %

value share, Isolates, 2023

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Higher protein content and lower carbohydrate content in pea isolates, compared to other forms, have increased their demand, making them the largest segment by form.

Largest Market by End User

96.67 %

value share, Food and Beverages, 2023

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The F&B sector dominates the market with its high demand for pea protein in meat alternative products due to its quick rehydration, neutral taste, and texturizing properties.

Fastest Growing Market by Form

7.52 %

Projected CAGR, Textured/Hydrolyzed, 2024-2029

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The growing applications of hydrolyzed pea protein in functional beverages, snack bars such as cereal bars and protein bars, and sports nutrition are expected to drive the segment during the forecast period.

Fastest Growing Market by End User

8.77 %

Projected CAGR, Animal Feed, 2024-2029

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The fastest growth in the segment can be attributed to the increasing popularity of pea protein in animal feed to replace conventional animal-origin protein and plant protein such as soy.

Leading Market Player

6.78 %

market share, International Flavors & Fragrances Inc., 2021

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To further strengthen its market share, the company has prioritized product innovation as a growth strategy, focusing on current market trends like healthy snacking.

F&B sector accounted major share in 2022 due to strong demand for meat alternatives products, the segment will register y-o-y growth of 5.38% from 2023-2024

  • Pea protein demand is highly dominated by the food and beverage segment, which is anticipated to record a CAGR of 6.54%, by volume, during the forecast period. The growth was mainly observed from meat alternative products, which held a share of 69.61% by volume in 2022, and it is anticipated to record a CAGR of 6.85%, by volume, during the forecast period. This increase can be due to its hypoallergenic quality and similar amino acid profile to meat.
  • Pea protein is proven to fuel athletic performance by improving strength, increasing lean muscle mass, and optimizing recovery. Protein ingredients obtained from peas contains 50-85% of proteins and are particularly rich in essential branched-chain amino acids (BCAA; leucine, isoleucine, and valine), known to play an important role in muscle protein synthesis. As a result, in the supplements segment, the sports and nutrition sub-segment accounts for leading market volume share of 74.15%, in 2023. Increasing adoption of active lifestyles to support the physical fitness is estimated to create lucrative market opportunities as health-conscious consumers are shifting towards clean-label supplements made with plant-based ingredients like pea protein.
  • The sales of pea protein in animal feed segment is estimated to register fastest CAGR of 8.77% in terms of value, during the forecast period. Pea protein can be  considered as high-quality vegetable protein source in premium pet food for being non-GMO, grain-free, hypoallergenic, and sustainable. Also, the  investment by major pet food companies like Nestlé Purina PetCare is estimated to offer potential growth opportunities in the region's animal feed sector. In April 2022, the company announced over USD 60 million investment to upgrade its manufacturing plant in Blayney, Australia.
Asia-Pacific Pea Protein Market

China and India collectively accounted major share in 2022 with rising trend of plant-based food products among the population

  • China remained the dominant country in the Asia-Pacific pea protein market. It is also expected to register the fastest CAGR of 9.39%, by volume, during the forecast period. This can be attributed to the country's growing plant-based market and allergen challenges associated with mainstream ingredients, such as soy and wheat proteins. Also, the evolving regulatory landscape to support the vegan food industry is estimated to promote the demand for pea protein ingredients in China. In 2023, the China Vegan Society introduced the China Vegan Food Certification (CVFC), the first programme of its kind in China, with the aim of standardizing the vegan claims made by products and increasing consumer trust.
  • In India, the market was driven by high demand from the F&B sector, recording a CAGR of 6.34% by value during the forecast period. Bakery and snacks are projected to obtain the fastest growth, supported by the surging demand for bakery products with clean ingredients like pea protein. The sales of pea protein ingredients in the bakery segment is estimated to register a CAGR of 10.95% during the forecast period, reaching USD 3.5 million in 2029.
  • Australia is the second-fastest growing country in the pea protein market, as it is projected to register a CAGR of 6.26% by value during the forecast period. Increasing shift towards plant-protein ingredients to meet the dietary requirements of vegan consumers is identified as the key market driving factor in the Australia's pea protein market. Also, the sustainable farming practices to cultivate grains and pulses including dry peas demonstrates the availability of quality raw materials for the production of pea protein ingredients.

Asia-Pacific Pea Protein Industry Segmentation

Concentrates, Isolates, Textured/Hydrolyzed are covered as segments by Form. Animal Feed, Food and Beverages, Personal Care and Cosmetics, Supplements are covered as segments by End User. Australia, China, India, Indonesia, Japan, Malaysia, New Zealand, South Korea, Thailand, Vietnam are covered as segments by Country.

  • Pea protein demand is highly dominated by the food and beverage segment, which is anticipated to record a CAGR of 6.54%, by volume, during the forecast period. The growth was mainly observed from meat alternative products, which held a share of 69.61% by volume in 2022, and it is anticipated to record a CAGR of 6.85%, by volume, during the forecast period. This increase can be due to its hypoallergenic quality and similar amino acid profile to meat.
  • Pea protein is proven to fuel athletic performance by improving strength, increasing lean muscle mass, and optimizing recovery. Protein ingredients obtained from peas contains 50-85% of proteins and are particularly rich in essential branched-chain amino acids (BCAA; leucine, isoleucine, and valine), known to play an important role in muscle protein synthesis. As a result, in the supplements segment, the sports and nutrition sub-segment accounts for leading market volume share of 74.15%, in 2023. Increasing adoption of active lifestyles to support the physical fitness is estimated to create lucrative market opportunities as health-conscious consumers are shifting towards clean-label supplements made with plant-based ingredients like pea protein.
  • The sales of pea protein in animal feed segment is estimated to register fastest CAGR of 8.77% in terms of value, during the forecast period. Pea protein can be  considered as high-quality vegetable protein source in premium pet food for being non-GMO, grain-free, hypoallergenic, and sustainable. Also, the  investment by major pet food companies like Nestlé Purina PetCare is estimated to offer potential growth opportunities in the region's animal feed sector. In April 2022, the company announced over USD 60 million investment to upgrade its manufacturing plant in Blayney, Australia.
Form
Concentrates
Isolates
Textured/Hydrolyzed
End User
Animal Feed
Food and Beverages
By Sub End User
Bakery
Beverages
Breakfast Cereals
Condiments/Sauces
Confectionery
Dairy and Dairy Alternative Products
Meat/Poultry/Seafood and Meat Alternative Products
RTE/RTC Food Products
Snacks
Personal Care and Cosmetics
Supplements
By Sub End User
Baby Food and Infant Formula
Elderly Nutrition and Medical Nutrition
Sport/Performance Nutrition
Country
Australia
China
India
Indonesia
Japan
Malaysia
New Zealand
South Korea
Thailand
Vietnam
Rest of Asia-Pacific
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Asia-Pacific Pea Protein Market Size Summary

The Asia-Pacific pea protein market is experiencing significant growth, driven primarily by the food and beverage sector, which is seeing a rising demand for meat alternatives due to the hypoallergenic nature and amino acid profile of pea protein. This trend is further supported by the increasing popularity of plant-based diets and the shift towards clean-label supplements among health-conscious consumers. The sports and nutrition segment is also a major contributor, as pea protein is recognized for its benefits in enhancing athletic performance and recovery. Additionally, the animal feed sector is poised for rapid expansion, with pea protein being valued for its high-quality, sustainable, and non-GMO attributes, particularly in premium pet food.

China stands out as the dominant player in the region, with a rapidly growing plant-based market and supportive regulatory changes promoting vegan food products. India and Australia are also key markets, with India seeing strong demand in the bakery and snacks segments, and Australia focusing on meeting the dietary needs of vegan consumers. The market is characterized by a fragmented landscape with major players like Archer Daniels Midland Company, Cargill, and Ingredion leading the charge. The production of dry peas, a primary raw material for pea protein, is robust in China and India, with significant contributions from Australia as well. The ongoing investments and innovations in plant-based ingredients are expected to further drive the market's growth in the coming years.

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Asia-Pacific Pea Protein Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Form

      1. 1.1.1 Concentrates

      2. 1.1.2 Isolates

      3. 1.1.3 Textured/Hydrolyzed

    2. 1.2 End User

      1. 1.2.1 Animal Feed

      2. 1.2.2 Food and Beverages

        1. 1.2.2.1 By Sub End User

          1. 1.2.2.1.1 Bakery

          2. 1.2.2.1.2 Beverages

          3. 1.2.2.1.3 Breakfast Cereals

          4. 1.2.2.1.4 Condiments/Sauces

          5. 1.2.2.1.5 Confectionery

          6. 1.2.2.1.6 Dairy and Dairy Alternative Products

          7. 1.2.2.1.7 Meat/Poultry/Seafood and Meat Alternative Products

          8. 1.2.2.1.8 RTE/RTC Food Products

          9. 1.2.2.1.9 Snacks

      3. 1.2.3 Personal Care and Cosmetics

      4. 1.2.4 Supplements

        1. 1.2.4.1 By Sub End User

          1. 1.2.4.1.1 Baby Food and Infant Formula

          2. 1.2.4.1.2 Elderly Nutrition and Medical Nutrition

          3. 1.2.4.1.3 Sport/Performance Nutrition

    3. 1.3 Country

      1. 1.3.1 Australia

      2. 1.3.2 China

      3. 1.3.3 India

      4. 1.3.4 Indonesia

      5. 1.3.5 Japan

      6. 1.3.6 Malaysia

      7. 1.3.7 New Zealand

      8. 1.3.8 South Korea

      9. 1.3.9 Thailand

      10. 1.3.10 Vietnam

      11. 1.3.11 Rest of Asia-Pacific

Asia-Pacific Pea Protein Market Size FAQs

The Asia-Pacific Pea Protein Market size is expected to reach USD 596.82 million in 2024 and grow at a CAGR of 6.73% to reach USD 826.39 million by 2029.

In 2024, the Asia-Pacific Pea Protein Market size is expected to reach USD 596.82 million.

Asia-Pacific Pea Protein Market Report Snapshots

Asia-Pacific Pea Protein Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029