News

Pea Protein Market to Reach $104 Million by 2026

Analysts predict the value of the plant-based ingredient to grow exponentially in coming years.

Analysts at research firm Future Market Insights (FMI) predict that revenues from the pea protein market will surpass $104 million by 2026, with a compounded annual growth rate of 12 percent. One reason for this growth is the demand for replacing allergens and animal products in baking. While North America currently has the highest global demand for pea protein, FMI predicts that manufacturers will be targeting developing economies in the future. “Leading companies are looking to expand their production capacity and launch new product offerings in a bid to cater to growing demand for pea protein,” FMI said in a statement. Late last year, French company Roquette announced plans to build the world’s largest pea protein plant—a $400 million construction project—in Manitoba, Canada. The development of vegan products is largely responsible for the growth of the pea protein market as it is the key ingredient in many plant-based food items including Ripple’s vegan milk, Beyond Meat’s burgers, Coffee-Mate’s new vegan creamers, and more. A prediction made last year by food research firm Markets and Markets placed the pea protein sector at just $18.5 million by 2021—a number FMI predicts will be substantially higher by 2026.

Photo courtesy of Beyond Meat

More News

Scientists Grow Beating Heart Tissue on Spinach

Breakthrough biotechnology proves that plants can serve as viable replacements for animals in medical research.
Read More »

British Supermarket Adopts Official Vegan Label

UK supermarket chain ASDA clearly re-labeled a host of vegan products—including its own private-labeled vodka—to make it easier for customers to live cruelty-free.
Read More »

General Mills' Sales Dip by $4 Million, Dairy to Blame

Processed food and yogurt brands driving down profits for the food corporation as it expands its presence in the plant-based sector.
Read More »

Beloved Blackbird Pizzeria Expands to Second Location

Northern Liberties residents will soon be able to enjoy the vegan eatery's award-winning Philly cheesesteaks, pizzas, and more.
Read More »

NYC Vegan Mainstay Angelica Kitchen to Close

Increasing operating costs caused owner Leslie McEachern to call it quits after 40 years.
Read More »

This Week on VegNews TV: The secret to these delightful sweet treats is white beans! Aylin Erman shows you how to make these simple blondies.

More Videos »