Pea Protein Market Projected to Reach $2.59 Billion by 2031
The global pea protein market is forecast to grow from $1.45 billion in 2026 to $2.59 billion by 2031, at a compound annual growth rate of 12.3%. Increased consumer demand for plant-based alternatives drives growth.
The worldwide market for pea protein is projected to see substantial growth, expanding from an estimated $1.45 billion in 2026 to $2.59 billion by 2031. This represents a compound annual growth rate (CAGR) of 12.3% over the forecast period, according to analysis by MarketsandMarkets™.
The market expansion is attributed to several factors, including rising consumer interest in plant-based diets and protein sources. The increasing popularity of veganism and vegetarianism, coupled with growing health consciousness, has positioned pea protein as a key alternative to traditional animal-based proteins.
Pea protein's versatility in food applications is a significant driver. It is widely used in products such as protein drinks, protein bars, dairy alternatives, and meat substitutes. The ingredient's high protein content, hypoallergenic profile, and relatively sustainable production contribute to its growing demand.
MarketsandMarkets™'s report analyzes the market size and forecast from 2026 to 2031 based on extensive research. Growth is expected to be particularly strong in developed markets, with increasing adoption also anticipated in emerging economies.