With significant investments in plant-based proteins and the increasing utilization of pea fiber in meat alternatives, ingredient distributors are likely to encounter promising business prospects in 2024. Key players in the production of this ingredient include Puris Protein, AM Nutrition, Emsland Group, and Avena Foods Limited, among others. Despite the competitive nature of this sector, the report suggests that “new entrants in pea fiber can focus on product innovation to differentiate themselves.” Additionally, the growing global trend towards organic food consumption may present further opportunities within the pea fiber market.
The European market, in particular, appears to be expanding for pea fiber, as recent data from the World Population Review indicates that the U.K. has the highest population of plant-based consumers. The ingredient is non-GMO, gluten-free, and allergen-free, extracted from the endosperm of yellow peas, which contain both dietary fiber and starch. It also offers digestive benefits and may help in the prevention of certain diseases. Pea fiber is frequently incorporated into bakery items, cereals, bars, and a variety of meat, poultry, and seafood products. According to Mintel, the usage of pea fiber in popular items, especially those that are plant-based, has nearly doubled since 2016.
In recent years, larger food and beverage companies have also taken notice of this ingredient. For instance, in August 2019, Cargill made a $75 million investment in Puris Protein to enhance its pea production capacity. However, concerns have arisen regarding the future of the U.S. pea protein market, as the industry may face challenges from inexpensive imports from China.
Moreover, the incorporation of nutrients such as calcium, citrate, magnesium, and zinc into pea fiber products could further enhance their appeal, particularly in health-conscious markets. The demand for these essential nutrients aligns with the growing consumer interest in fortified foods, thus presenting additional avenues for innovation and market expansion in the pea fiber sector.