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

New Development: by CHLOE to Stay Vegan Sans Chloe

The company's co-founder issues a statement that commits to maintaining vegan ideals after Chloe Coscarelli's departure.
Read More »

New Vegan Cruise Sets Sail in September

Guests will be treated to a vegan voyage to the fjords of Norway this fall.
Read More »

Luxury Hotel Launches Vegan Afternoon Tea Menu

Britain's favorite activity just got a cruelty-free makeover thanks to The Egerton House Hotel in London.
Read More »

Esther the Wonder Pig to Get Reality Show

The famed pig and her 43 rescued animal friends may soon become reality TV stars thanks to series Estherville.
Read More »

Americans Ate 20 Percent Less Meat in Last Decade

New data shows that Americans reduced their carbon footprint by 10 percent thanks in large part to cutting down meat consumption.
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 »