PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1423714
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1423714
Peas Market Forecasts to 2030 - Global Analysis By Type (Field Peas, Garden Peas, Green Peas, Snow Peas, Split Peas, Yellow Peas and Other Types), Distribution Channel, Application and By Geography
According to Stratistics MRC, the Global Peas Market is accounted for $13.6 billion in 2023 and is expected to reach $24.5 billion by 2030 growing at a CAGR of 8.8% during the forecast period. The term "peas market" refers to the economic sector centered around the cultivation, distribution, and trade of peas. Peas are a versatile legume rich in nutrients, fiber, and protein, making them a popular ingredient in various cuisines worldwide. Fresh peas are popular in salads, side dishes, and as standalone snacks, contributing to a healthy diet. Processed peas, including frozen, canned, and dried forms, are essential components in numerous prepared meals, soups, and stews, offering convenience and nutritional value.
Market Dynamics:
Driver:
Increasing demand for plant-based proteins
As health-conscious consumers shift towards plant-centric diets, peas have emerged as a nutritional powerhouse and sustainable protein source. With their high protein content, peas offer a viable alternative to animal-based proteins, catering to the needs of vegetarians, vegans, and individuals seeking diversified protein options. Beyond their protein richness, peas also contribute essential vitamins, minerals, and dietary fiber, enhancing their appeal in the health and wellness sector. The rise of flexitarian and plant-forward dietary patterns further amplifies the demand for pea-based products, including pea protein isolates and meat alternatives.
Restraint:
Price fluctuations
The pricing dynamics of peas are influenced by various factors, including weather conditions affecting crop yield, production costs, and market demand. Fluctuations in commodity prices can disrupt the economic stability of pea farmers, impacting their income and creating uncertainties in the agricultural sector. However, these price variations can affect the affordability of peas for consumers, potentially altering their purchasing behavior. Unpredictable market conditions, such as geopolitical events, global economic shifts, or supply chain disruptions, further contribute to the volatility in pea prices.
Opportunity:
Rising consumer interest in convenience foods
As modern lifestyles become more fast-paced, consumers increasingly seek quick and convenient meal options. Peas, both in their frozen and canned forms, have become integral ingredients in a myriad of convenient food products, ranging from frozen vegetable blends to ready-to-eat soups and snacks. The ease of incorporating peas into various dishes without compromising nutritional value aligns with the demand for hassle-free meal solutions. Furthermore, the versatility of peas allows them to seamlessly integrate into a wide array of recipes, making them a go-to choice for manufacturers aiming to meet the demand for convenient, yet wholesome, food options.
Threat:
Storage and shelf life concerns
Peas, especially in their fresh or frozen forms, are susceptible to quality deterioration over time, leading to challenges in maintaining their nutritional value and taste. The need for proper storage facilities with controlled temperatures to prevent spoilage adds logistical complexities and costs to the supply chain. Short shelf lives may result in waste, affecting both producers and retailers. Consumers, seeking convenience, may opt for longer shelf life alternatives, impacting the demand for fresh or minimally processed peas. Furthermore, inadequate storage conditions during transportation can compromise the quality of peas before reaching consumers.
Covid-19 Impact:
Initially, disruptions in the supply chain, labor shortages, and transportation restrictions led to challenges in harvesting, processing, and distribution. These factors, combined with uncertainties surrounding global markets, affected the availability and pricing of peas. On the consumer side, pandemic-induced economic uncertainties influenced purchasing patterns, with a shift towards essential goods and a temporary decline in demand for certain non-essential food products, potentially impacting the peas market. However, as the pandemic unfolded, a surge in consumer interest in plant-based and frozen foods was noted, potentially benefiting the peas market.
The split peas segment is expected to be the largest during the forecast period
Split Peas segment is expected to be the largest during the forecast period. Split peas are derived from mature, dried peas that have been hulled and split in half, creating a product with a unique texture and quicker cooking time compared to whole peas. This processing method enhances the convenience of incorporating peas into various dishes, making them a popular choice for consumers seeking time-efficient and nutritious meal options. Split peas are rich in protein, dietary fiber, and essential vitamins, making them a valuable ingredient for health-conscious consumers.
The processed foods segment is expected to have the highest CAGR during the forecast period
Processed Foods segment is expected to have the highest CAGR during the forecast period. Processed pea products, including frozen peas, canned peas, and pea-based snacks, are witnessing increased demand owing to shifting consumer preferences towards convenient and nutritious food options. The versatility of peas allows them to be seamlessly integrated into a variety of processed foods, providing a source of plant-based protein, vitamins, and minerals. Moreover, with the rise in busy lifestyles, consumers are turning to time-saving solutions, and processed pea products offer a convenient and ready-to-use ingredient for a diverse range of culinary applications.
Region with largest share:
Asia Pacific region dominated the largest share of the market over the projection period. With a rising population and increasing disposable incomes, there is a heightened demand for plant-based protein sources, and peas, with their nutritional profile, are fitting the bill. The shift towards healthier lifestyles and dietary choices, coupled with a cultural inclination towards incorporating legumes in traditional cuisines, has spurred the consumption of peas in various forms. Additionally, the versatility of peas in both culinary applications and processed foods aligns with the diverse preferences across the region.
Region with highest CAGR:
Asia Pacific region is growing at a rapid pace over the projected period. Several countries in the region have implemented policies and initiatives that encourage the cultivation of peas as part of sustainable farming practices. These regulations often promote crop diversification, soil health improvement, and reduced dependence on synthetic fertilizers, aligning with the eco-friendly nature of pea cultivation. Furthermore, as governments emphasize the importance of a balanced and nutritious diet, there is a growing recognition of peas as a valuable source of plant-based proteins and essential nutrients.
Key players in the market
Some of the key players in Peas market include AGT Food and Ingredients Inc, Archer Daniels Midland Company, Cargill, Incorporated, Conagra Brands, Inc, Cosucra Groupe Warcoing SA, Emsland Group, Globus Group, J.R. Simplot Company, Kerry Group plc, McCain Foods Limited, Pinnacle Foods Inc, S&W Seed Company and Seneca Foods Corporation.
Key Developments:
In October 2022, Roquette, a global leader in plant-based ingredients and a pioneer of plant proteins, launched a new line of organic pea ingredients, organic pea starch, and organic pea protein in the North American and Europe markets to meet customer demand.
In September 2022, Pea growers will have two new options for next year's growing season, with the commercial release of PBA Noosa and PBA Taylor - Agriculture Victoria's latest high-yielding pea varieties. PBA Taylor is the best variety to grow in environments prone to virus diseases as it has resistance to two viruses - pea seed-borne mosaic virus and bean leafroll virus.
In March 2022, Birsa Agriculture University (BAU) developed a new variety Birsa Matar-1 which is adaptable to the climatic condition of Jharkhand, India. The species is also resistant to pests and diseases, which helps to increase productivity.
Types Covered:
- Field Peas
- Garden Peas
- Green Peas
- Snow Peas
- Split Peas
- Yellow Peas
- Other Types
Distribution Channels Covered:
- Offline
- Online
Applications Covered:
- Processed Foods
- Snack Industry
- Plant-Based Protein Products
- Agricultural and Animal Feed
- Other Applications
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Peas Market, By Type
- 5.1 Introduction
- 5.2 Field Peas
- 5.3 Garden Peas
- 5.4 Green Peas
- 5.5 Snow Peas
- 5.6 Split Peas
- 5.7 Yellow Peas
- 5.8 Other Types
6 Global Peas Market, By Distribution Channel
- 6.1 Introduction
- 6.2 Offline
- 6.3 Online
7 Global Peas Market, By Application
- 7.1 Introduction
- 7.2 Processed Foods
- 7.3 Snack Industry
- 7.4 Plant-Based Protein Products
- 7.5 Agricultural and Animal Feed
- 7.6 Other Applications
8 Global Peas Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 AGT Food and Ingredients Inc
- 10.2 Archer Daniels Midland Company
- 10.3 Cargill, Incorporated
- 10.4 Conagra Brands, Inc
- 10.5 Cosucra Groupe Warcoing SA
- 10.6 Emsland Group
- 10.7 Globus Group
- 10.8 J.R. Simplot Company
- 10.9 Kerry Group plc
- 10.10 McCain Foods Limited
- 10.11 Pinnacle Foods Inc
- 10.12 S&W Seed Company
- 10.13 Seneca Foods Corporation
List of Tables
- Table 1 Global Peas Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Peas Market Outlook, By Type (2021-2030) ($MN)
- Table 3 Global Peas Market Outlook, By Field Peas (2021-2030) ($MN)
- Table 4 Global Peas Market Outlook, By Garden Peas (2021-2030) ($MN)
- Table 5 Global Peas Market Outlook, By Green Peas (2021-2030) ($MN)
- Table 6 Global Peas Market Outlook, By Snow Peas (2021-2030) ($MN)
- Table 7 Global Peas Market Outlook, By Split Peas (2021-2030) ($MN)
- Table 8 Global Peas Market Outlook, By Yellow Peas (2021-2030) ($MN)
- Table 9 Global Peas Market Outlook, By Other Types (2021-2030) ($MN)
- Table 10 Global Peas Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 11 Global Peas Market Outlook, By Offline (2021-2030) ($MN)
- Table 12 Global Peas Market Outlook, By Online (2021-2030) ($MN)
- Table 13 Global Peas Market Outlook, By Application (2021-2030) ($MN)
- Table 14 Global Peas Market Outlook, By Processed Foods (2021-2030) ($MN)
- Table 15 Global Peas Market Outlook, By Snack Industry (2021-2030) ($MN)
- Table 16 Global Peas Market Outlook, By Plant-Based Protein Products (2021-2030) ($MN)
- Table 17 Global Peas Market Outlook, By Agricultural and Animal Feed (2021-2030) ($MN)
- Table 18 Global Peas Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 19 North America Peas Market Outlook, By Country (2021-2030) ($MN)
- Table 20 North America Peas Market Outlook, By Type (2021-2030) ($MN)
- Table 21 North America Peas Market Outlook, By Field Peas (2021-2030) ($MN)
- Table 22 North America Peas Market Outlook, By Garden Peas (2021-2030) ($MN)
- Table 23 North America Peas Market Outlook, By Green Peas (2021-2030) ($MN)
- Table 24 North America Peas Market Outlook, By Snow Peas (2021-2030) ($MN)
- Table 25 North America Peas Market Outlook, By Split Peas (2021-2030) ($MN)
- Table 26 North America Peas Market Outlook, By Yellow Peas (2021-2030) ($MN)
- Table 27 North America Peas Market Outlook, By Other Types (2021-2030) ($MN)
- Table 28 North America Peas Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 29 North America Peas Market Outlook, By Offline (2021-2030) ($MN)
- Table 30 North America Peas Market Outlook, By Online (2021-2030) ($MN)
- Table 31 North America Peas Market Outlook, By Application (2021-2030) ($MN)
- Table 32 North America Peas Market Outlook, By Processed Foods (2021-2030) ($MN)
- Table 33 North America Peas Market Outlook, By Snack Industry (2021-2030) ($MN)
- Table 34 North America Peas Market Outlook, By Plant-Based Protein Products (2021-2030) ($MN)
- Table 35 North America Peas Market Outlook, By Agricultural and Animal Feed (2021-2030) ($MN)
- Table 36 North America Peas Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 37 Europe Peas Market Outlook, By Country (2021-2030) ($MN)
- Table 38 Europe Peas Market Outlook, By Type (2021-2030) ($MN)
- Table 39 Europe Peas Market Outlook, By Field Peas (2021-2030) ($MN)
- Table 40 Europe Peas Market Outlook, By Garden Peas (2021-2030) ($MN)
- Table 41 Europe Peas Market Outlook, By Green Peas (2021-2030) ($MN)
- Table 42 Europe Peas Market Outlook, By Snow Peas (2021-2030) ($MN)
- Table 43 Europe Peas Market Outlook, By Split Peas (2021-2030) ($MN)
- Table 44 Europe Peas Market Outlook, By Yellow Peas (2021-2030) ($MN)
- Table 45 Europe Peas Market Outlook, By Other Types (2021-2030) ($MN)
- Table 46 Europe Peas Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 47 Europe Peas Market Outlook, By Offline (2021-2030) ($MN)
- Table 48 Europe Peas Market Outlook, By Online (2021-2030) ($MN)
- Table 49 Europe Peas Market Outlook, By Application (2021-2030) ($MN)
- Table 50 Europe Peas Market Outlook, By Processed Foods (2021-2030) ($MN)
- Table 51 Europe Peas Market Outlook, By Snack Industry (2021-2030) ($MN)
- Table 52 Europe Peas Market Outlook, By Plant-Based Protein Products (2021-2030) ($MN)
- Table 53 Europe Peas Market Outlook, By Agricultural and Animal Feed (2021-2030) ($MN)
- Table 54 Europe Peas Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 55 Asia Pacific Peas Market Outlook, By Country (2021-2030) ($MN)
- Table 56 Asia Pacific Peas Market Outlook, By Type (2021-2030) ($MN)
- Table 57 Asia Pacific Peas Market Outlook, By Field Peas (2021-2030) ($MN)
- Table 58 Asia Pacific Peas Market Outlook, By Garden Peas (2021-2030) ($MN)
- Table 59 Asia Pacific Peas Market Outlook, By Green Peas (2021-2030) ($MN)
- Table 60 Asia Pacific Peas Market Outlook, By Snow Peas (2021-2030) ($MN)
- Table 61 Asia Pacific Peas Market Outlook, By Split Peas (2021-2030) ($MN)
- Table 62 Asia Pacific Peas Market Outlook, By Yellow Peas (2021-2030) ($MN)
- Table 63 Asia Pacific Peas Market Outlook, By Other Types (2021-2030) ($MN)
- Table 64 Asia Pacific Peas Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 65 Asia Pacific Peas Market Outlook, By Offline (2021-2030) ($MN)
- Table 66 Asia Pacific Peas Market Outlook, By Online (2021-2030) ($MN)
- Table 67 Asia Pacific Peas Market Outlook, By Application (2021-2030) ($MN)
- Table 68 Asia Pacific Peas Market Outlook, By Processed Foods (2021-2030) ($MN)
- Table 69 Asia Pacific Peas Market Outlook, By Snack Industry (2021-2030) ($MN)
- Table 70 Asia Pacific Peas Market Outlook, By Plant-Based Protein Products (2021-2030) ($MN)
- Table 71 Asia Pacific Peas Market Outlook, By Agricultural and Animal Feed (2021-2030) ($MN)
- Table 72 Asia Pacific Peas Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 73 South America Peas Market Outlook, By Country (2021-2030) ($MN)
- Table 74 South America Peas Market Outlook, By Type (2021-2030) ($MN)
- Table 75 South America Peas Market Outlook, By Field Peas (2021-2030) ($MN)
- Table 76 South America Peas Market Outlook, By Garden Peas (2021-2030) ($MN)
- Table 77 South America Peas Market Outlook, By Green Peas (2021-2030) ($MN)
- Table 78 South America Peas Market Outlook, By Snow Peas (2021-2030) ($MN)
- Table 79 South America Peas Market Outlook, By Split Peas (2021-2030) ($MN)
- Table 80 South America Peas Market Outlook, By Yellow Peas (2021-2030) ($MN)
- Table 81 South America Peas Market Outlook, By Other Types (2021-2030) ($MN)
- Table 82 South America Peas Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 83 South America Peas Market Outlook, By Offline (2021-2030) ($MN)
- Table 84 South America Peas Market Outlook, By Online (2021-2030) ($MN)
- Table 85 South America Peas Market Outlook, By Application (2021-2030) ($MN)
- Table 86 South America Peas Market Outlook, By Processed Foods (2021-2030) ($MN)
- Table 87 South America Peas Market Outlook, By Snack Industry (2021-2030) ($MN)
- Table 88 South America Peas Market Outlook, By Plant-Based Protein Products (2021-2030) ($MN)
- Table 89 South America Peas Market Outlook, By Agricultural and Animal Feed (2021-2030) ($MN)
- Table 90 South America Peas Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 91 Middle East & Africa Peas Market Outlook, By Country (2021-2030) ($MN)
- Table 92 Middle East & Africa Peas Market Outlook, By Type (2021-2030) ($MN)
- Table 93 Middle East & Africa Peas Market Outlook, By Field Peas (2021-2030) ($MN)
- Table 94 Middle East & Africa Peas Market Outlook, By Garden Peas (2021-2030) ($MN)
- Table 95 Middle East & Africa Peas Market Outlook, By Green Peas (2021-2030) ($MN)
- Table 96 Middle East & Africa Peas Market Outlook, By Snow Peas (2021-2030) ($MN)
- Table 97 Middle East & Africa Peas Market Outlook, By Split Peas (2021-2030) ($MN)
- Table 98 Middle East & Africa Peas Market Outlook, By Yellow Peas (2021-2030) ($MN)
- Table 99 Middle East & Africa Peas Market Outlook, By Other Types (2021-2030) ($MN)
- Table 100 Middle East & Africa Peas Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 101 Middle East & Africa Peas Market Outlook, By Offline (2021-2030) ($MN)
- Table 102 Middle East & Africa Peas Market Outlook, By Online (2021-2030) ($MN)
- Table 103 Middle East & Africa Peas Market Outlook, By Application (2021-2030) ($MN)
- Table 104 Middle East & Africa Peas Market Outlook, By Processed Foods (2021-2030) ($MN)
- Table 105 Middle East & Africa Peas Market Outlook, By Snack Industry (2021-2030) ($MN)
- Table 106 Middle East & Africa Peas Market Outlook, By Plant-Based Protein Products (2021-2030) ($MN)
- Table 107 Middle East & Africa Peas Market Outlook, By Agricultural and Animal Feed (2021-2030) ($MN)
- Table 108 Middle East & Africa Peas Market Outlook, By Other Applications (2021-2030) ($MN)
