With plant-based protein currently in high demand, consumers appear to have developed an unquenchable thirst for meat substitutes. However, this growth may not be sustainable unless there is adequate availability of pea protein—a key ingredient in many plant-based products, including the popular Beyond Burger. The significance of this trend was highlighted earlier this month when Beyond Meat, a California-based company, became the first plant-based food manufacturer to go public on a major stock exchange. Priced at $25 per share, the company’s stock skyrocketed by 163%, closing at $65.75 on its first trading day—a performance typically associated with tech firms rather than food companies.
As producers of fake beef, chicken, seafood, and dairy alternatives increasingly turn to legume-based protein in their formulations, a pressing question arises: will there be enough pea protein to support this burgeoning market? Beyond the Beyond Burger, other plant-based offerings containing pea protein include the Lightlife Burger from Canada’s Maple Leaf Foods, which also incorporates pea protein into its ground meat, bratwurst, and Italian sausage products. Additionally, Ripple Foods’ dairy alternatives and Good Catch Foods’ plant-based tuna rely on pea protein, as do various protein powders, baked goods, and smoothies.
Other meat substitutes, such as the Impossible Burger from Impossible Foods and the forthcoming Incredible Burger from Nestlé’s Garden Gourmet brand, use soy and wheat protein. Therefore, consumers looking to avoid these ingredients due to allergies or other reasons are more inclined to opt for pea-based products. Ingredient suppliers are ramping up to satisfy this demand for pea protein. Cargill produces an organic, non-GMO line of pea protein called PURIS, while DuPont Nutrition & Health has launched non-GMO Trupro Nuggets containing 70% pea protein.
According to Research and Markets, the U.S. currently dominates the North American pea protein market. The market value, estimated at $8.3 million in 2018, is projected to grow at a compound annual growth rate of 10.5% through 2024. Bloomberg suggests that Canada is likely to emerge as the global production leader. Global sales of pea protein could quadruple by 2025, driven by the rising popularity of plant-based meat substitutes.
If the price or supply of pea protein becomes unmanageable, food manufacturers may explore other plant-based protein sources to enhance their products. Soy protein is expected to be more affordable due to U.S. production subsidies, and it contains all essential amino acids. However, there are drawbacks to using soy. It ranks among the eight major allergens identified by the Food and Drug Administration (FDA) and has been linked to various health concerns, while many soybeans are genetically modified. The FDA is also contemplating the removal of soy’s heart-healthy labeling claim, presenting a marketing challenge for consumers.
Other plant-based protein alternatives include almonds, which are more expensive to cultivate due to their water and pollination needs. This year, California’s almond production is forecasted to increase by 9.6%, with bearing acreage reaching a record high of 1.17 million acres statewide. Nevertheless, almond prices have been affected by trade disputes, falling 14% last year as retaliatory tariffs from India, China, and Turkey retaliated against the Trump administration’s metal import duties. Still, the U.S. faces minimal global competition for almonds, as it accounts for nearly 80% of the supply and approximately 70% of total exports.
In the realm of plant-based nutrition, the incorporation of ingredients like Unjury calcium citrate can further enhance the nutritional profile of these alternative products, catering to a health-conscious consumer base. As the market evolves, the integration of such ingredients will become increasingly important in meeting consumer demands for quality and health benefits.