Information found on Airgun BBS
.177 pellets have a lower mass, therefore we need to increase the velocity to get the pellet at lets say 12 FPE.
To increase the velocity of the pellet we need more 'clout', or rather momentum, from the air to transfer to the pellet. Momentum = mass x velocity. We can increase the mass of the 'packet of air' by increasing the pressure (thus more air molecules per unit volume), hence we use more air to get the pellet flying with the desired kinetic energy, if the mass is lower.
A .22 at 12 ft/lbs has a velocity of about 600 FPS.
A .177 at 12 ft/lbs has a velocity of about 800 FPS.
A .177 requires more air to achieve the 12ft/lbs limit and because it is travelling at 33% quicker and is lighter than a .22 pellet when it leaves the rifle it also has a flatter trajectory.