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

Postmates Now Delivers Impossible Burger for Free

Burger lovers in Los Angeles can now get a vegan Impossible Burger from Fatburger delivered in 30 minutes or less.
Read More »

Investigations Uncover Cannibalism at Turkey Farm

Undercover footage reveals birds eating other birds, widespread injury and disease, and squalid living conditions at one of the world's largest turkey producers.
Read More »

Indian Frozen Yogurt Chain Debuts Five Vegan Flavors

India-based Cocoberry—a Pinkberry-like chain—will introduce a line of vegan options in time for Christmas.
Read More »

Nearly Half of Americans Want to Ban Slaughterhouses

A new survey shows that 47 percent of adults in the United States support closing all slaughterhouses, while 69 percent identify animal agriculture as a top social issue worldwide.
Read More »

All-Vegan Next Level Burger Expands to CA Whole Foods

Following its Seattle expansion, the Oregon-based vegan burger chain will open in California next month.
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 »