Food and Beverages Industry Overview

The food emulsifiers market consists of sales of food emulsifier products and related services by entities (organizations, sole traders, and partnerships) which is used as surface-active agents that act as a boundary between two insoluble fluids, such as water and oil, enabling them to be blended into stable emulsions. Food emulsifiers are added in bread, salad, dressings, sauces, ice creams, puddings, and various other food items to reduce stickiness, control crystallization, and prevent separation. The main types of food emulsifiers are lecithin, monoglyceride, diglyceride, and derivatives, sorbitan ester, polyglycerol ester, and others. Lecithin is used in food applications as a lubricant, aerating agent, and viscosity transformer. The lecithin emulsifier's molecular structure makes it a good emulsifier for the interaction of water and oil. The food emulsifiers are either natural or synthetic and are available in different forms such as fine powder, hydrate. Food emulsifiers are used in various applications such as dairy and frozen products, bakery, meat, poultry and seafood, beverage, confectionery, and others. The global food emulsifiers market is expected to grow from $2.76 billion in 2020 to $2.99 billion in 2021 at a compound annual growth rate (CAGR) of 8.3%. The growth in the food emulsifiers market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The food emulsifiers market is expected to reach $4.07 billion in 2025 at a CAGR of 8%. The increasing demand for packaged and convenience food across the globe is significantly contributing to the growth of the food emulsification market. Food emulsifiers are increasingly being used in packaged and convenience food products to prevent microbial spoilage. Demand for packaged and ready-to-eat food is growing due to busy lifestyles, changing eating habits of the population worldwide, and the spread of coronavirus pandemic. For instance, according to an Assocham (Associated Chamber of Commerce and Industry of India) survey conducted in 2020, roughly 79% of Indian households prefer instant food due to lack of time. Therefore, the increasing demand for packaged and ready-to-eat food is expected to drive the growth of the food emulsifiers market in the coming years. Food emulsifier manufacturers are using clear emulsion technology for safe and allergen-free emulsification of food products including beverages, nootropics, edibles, nutraceuticals, and topical. Clear emulsion technology features multiple benefits for food product developers including stability, safety, bioavailability, homogeneity, seamless integration, and others. For instance, in 2020, US-based water-soluble emulsion technology company, SORSE Technology developed SORSE Clear, a clear emulsion with a minimal sensory profile that is made with allergen-free and vegan-friendly ingredients. In December 2019, RPM International Inc., a US-based manufacturer of specialty sealants, coatings, and building materials acquired Profile Food Ingredients, LLC through its edible coatings business, Mantrose-Haeuser Co., Inc. for an undisclosed amount. Through this acquisition, Mantrose-Haeuser Co. will be able to grow its sales of specialty ingredients in the food industry and expand its international market. Profile Food Ingredients, LLC is a US-based manufacturer of dry stabilizers and emulsifier blends for the food industry. Major players in the food emulsifiers market are Dupont Nutrition And Biosciences, Palsgaard A/S, Riken Vitamin Co. Ltd., Cargill, Estelle Chemicals Pvt. Ltd., Kerry Group Inc., Tate & Lyle, Corbion N.V., Lonza Group Ltd., BASF SE, Puratos Group, Koninklijke DSM N.V., Beldem S.A., Lecico GmbH, Lasenor Emul, S.L., and ABITEC Corporation. Europe was the largest region in the food emulsifiers market in 2020. Asia Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the food emulsifiers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the food emulsifiers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global food emulsifiers market is segmented - 1) By Type: Lecithin, Monoglyceride, Diglyceride and Derivatives, Sorbitan Ester, Polyglycerol Ester, Others 2) By Nature: Natural, Synthetic 3) By Form: Fine Powder, Hydrate 4) By Application: Dairy And Frozen Products, Bakery, Meat, Poultry, And Seafood, Beverage, Confectionery, Others

The functional food ingredients market consists of sales of functional food ingredients by entities (organizations, sole traders, and partnerships) that are bioactive compounds or ingredients used in manufacturing functional food products. Vitamins, minerals, antioxidants, hydrocolloids, prebiotics, amino acids, plant extracts, and carotenoids are some examples of functional food ingredients. The ingredients in functional foods provide health benefits, and some of them include supplements or other additives. The main types of functional food ingredients are probiotics and prebiotics, carotenoids, dietary fibers fatty acids, vitamins, minerals, and others. Carotenoids are fat-soluble pigments found generally in fruits, flowers, plants, algae, and photosynthetic bacteria. They are also found in some non-photosynthetic bacteria, molds, and yeasts. Carotenoids act as a type of antioxidant for humans and are important for human health. It protects the human body against serious disorders such as heart disease, cancer, and degenerative eye disease. The different sources include natural, synthetic and are used in beverages, dairy products, infant food, bakery and confectionery, others. The global functional food ingredient market is expected to grow from $84.74 billion in 2020 to $93.09 billion in 2021 at a compound annual growth rate (CAGR) of 9.9%. The growth in the functional food ingredients market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The functional food ingredients market is expected to reach $125.65 billion in 2025 at a CAGR of 7.8%. The rise in demand for fortified food & beverage products is expected to contribute to the growth of the functional food ingredients market. Fortified foods are functional foods that lack natural nutrients; nutrients are added to them. These foods boost nutrition and provide health advantages. Fortified foods are functional foods without natural nutrients in them, nutrients are added to them, and these foods then improve nutrition and add health benefits. Fortified foods and beverage products consumption is increasing due to growing health consciousness in consumers, increasing disease occurrences, increasing consumers' disposable income. The medicinal properties of these foods in providing healing benefits apart from energy and essential nutrients are motivating consumers to spend more on healthy food products. According to the Kerry Group study, in 2019, 65% of consumers seek functional benefits in their food & beverages and apple cider vinegar as a grown-up by 86% for its digestive and blood sugar managing properties. Therefore, the rise in demand for fortified food & beverage products will drive the functional food ingredients market growth. Collaborations and partnerships are are key trends gaining popularity in shaping the functional food ingredients market. Major companies operating in the functional food ingredients sector are focused on partnering or collaborating with other companies to develop innovative solutions for functional food ingredients. For instance, in December 2019, Cargill, a US-based food company, and Renmatix, a US-based plant ingredient innovations company, signed a joint development agreement (JDA) to explore a novel approach for making functional food ingredients from unutilized plant material. This agreement was to manufacture highly functional food ingredients. The companies will use Renmatix’s Plantrose Process, which is a proprietary water-based technology, and Cargill’s preferred feedstocks. In July 2021, Kerry Group, an Irish-based food company announced that it is acquiring Biosearch Life for a $150 million deal amount. Through this acquisition, Kerry Group can expand its healthy ingredient portfolios such as probiotics and omega-3. The expansion of a healthy ingredient portfolio can boost its capabilities within functional foods and proactive health ingredients. Biosearch Life, based in Spain, is a biotechnology company that manufactures healthy natural ingredients such as Omega-3, Probiotics, Botanical Extracts. Major players in the functional food ingredients market are Cargill, BASF, Archer Daniels Midland, DuPont Nutrition & Biosciences, Arla Foods, Kerry Group, Ajinomoto, DSM, Ingredion Incorporated, Tate & Lyle, Roquette Frères, Nestle, Fuerst Day Lawson, Ashland, A&B Ingredients, and Royal Cosun. North America was the largest region in the functional food ingredients market in 2020. Europe was the second-largest market in the functional food ingredients market. The regions covered in the functional food ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the functional food ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global functional food ingredients market is segmented - 1) By Type: Probiotics And Prebiotics, Carotenoids, Dietary Fibers, Fatty Acids, Vitamins, Minerals, Others 2) By Source: Natural, Synthetic 3) By Application: Beverages, Dairy Products, Infant Food, Bakery And Confectionery, Others

The food ingredients market consists of food ingredients sales by entities (organizations, sole proprietorships, and partnerships) that produce food ingredients that are added to food to improve taste, texture, and appearance. Food additives are substances applied to foods to achieve specific technical or functional goals during production, storage, or packaging. Food ingredients are used to improve safety and freshness and maintain the nutritional value of the food.

The main types of products in food ingredients are starches, vegetable oils and fats, natural sweeteners, enzymes and antioxidants, natural flavorings and colors, functional ingredients, and others. Starches are used as an additive for food processing and are typically used as thickeners and stabilizers in puddings, custard, soups, sauces, gravies, pie fillings, salad dressing, noodles, meat products, and many more. The different functional types include sweeteners, emulsifiers, flavors, and color additives, preservatives, fat replacers, nutrients, stabilizers, thickeners, binders, and texturizers, pH control agents & acidulants, others and are used in pharmaceuticals, food & beverages, animal feed, others.

The global food ingredients market is expected to grow from $38.86 billion in 2020 to $42.88 billion in 2021 at a compound annual growth rate (CAGR) of 10.3%. The growth in the food ingredients market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The food ingredients market is expected to reach $59.83 billion in 2025 at a CAGR of 8.7%.

The increase in the awareness of fitness among people and the growing number of health-conscious consumers are expected to drive the market for food ingredients during the forecast period. Consumers are incorporating bioactive food ingredients such as omega-3 fatty acids, antioxidants, probiotics, soy protein, and beta-carotene into their meals to maintain good health. According to International Food Information Council’s (IFIC) 2020 Food and Health Survey, 8 out of 10 American consumers have changed their eating or food preparation habits as a result of COVID-19. Furthermore, according to the 2021 survey by Moneydasher, in the USA and Europe, health-conscious shoppers cover 25-30% of all supermarket buyers.

The introduction to technologically advanced solutions is an emerging trend in the food ingredients market. Major food ingredients firms are concentrating on developing innovative solutions for food ingredients to provide global food industries with next-generation alternative proteins and other ingredients. For instance, in February 2019, Motif Ingredients, a US-based food ingredients company is leveraging biotechnology to develop unique food solutions that provide consumers more options without sacrificing taste or nutrition.

In June 2021, Kerry Group, an Ireland-based food company offering food and beverage ingredients acquired Niacet for $1,011.80 million (€853 million). Through this acquisition, Kerry integrated Niacet into its global food protection and preservation platform, enhancing its food protection, food ingredient, and preservation strategy to offer new products and technologies in a broader market. Niacet is a US-based company that offers food ingredients.

Major players in the food ingredients market are Kerry Group, Cargill Inc., Archer Daniels Midland, Stevia First Corporation, Hermes Sweeteners Ltd, Riken Vitamin, Koninklijke DSM N.V, Palsgaard, Danisco, Angel Yeast Co. Ltd., Aral Foods amber, Bunge Limited, Glanbia Plc, Ingredion Incorporated, and Corbion Purac.

North America was the largest region in the food ingredients market in 2020. Europe was the second-largest market in the food ingredients market. The regions covered in the food ingredients market report report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the food ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The global food ingredients market is segmented -

1) By Product Type: Starches, Vegetable Oils And Fats, Natural Sweeteners, Enzymes And Antioxidants, Natural Flavorings And Colours, Functional Ingredients, Others

2) By Function: Sweeteners, Emulsifier, Flavors And Color Additives, Preservatives, Fat Replacers, Nutrients, Stabilizers, Thickeners, Binders, And Texturizers, pH Control Agents And Acidulants, Others

3) By Application: Pharmaceuticals, Food And Beverages, Animal Feed, Others

The agave nectar market consists of sales of agave nectar by entities (organizations, sole traders, and partnerships) that are commercially produced from several species of agave, including agave tequilana and agave salmiana. Agave nectar is a sweetener used as a natural substitute for artificial sweeteners and refined sugars. It has a low glycemic index, which does not cause high blood glucose and helps prevent problems such as metabolic syndrome and insulin resistance.

The main types of agave nectar are light agave nectar and dark agave nectar. The lighter agave nectar grades are flavor neutral, complementing the natural flavors of coffee, tea, fruit drinks, bakery items, fresh fruits, fruit smoothies, salad dressings jams and jellies, ice cream, yogurts, and other prepared meals without changing their flavor. The different functional types include emulsifier, sweeteners, flavor enhancers and are made available to customers through various distribution channels such as supermarkets, online stores, retail stores, others. It is used in bakeries, beverages, confectionery, and others.

The global agave nectar market is expected to grow from $178.87 million in 2020 to $194.55 million in 2021 at a compound annual growth rate (CAGR) of 8.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The agave nectar market is expected to reach $296.44 million in 2025 at a CAGR of 11.1%.

Increasing awareness of fitness among people coupled with a surge in the number of health-conscious consumers is expected to drive the market for agave nectar during the forecast period. Consumers are moving towards maintaining good health through various diets including keto, vegan, and fitness training including gyms. Agave nectar is a tasty natural sweetener that can be substituted for high-glycemic and refined sugars by dieters, diabetics, and health-conscious cooks in proportion. According to a new survey conducted in 2021 by biotechnology company Gelesis, 60% of Americans desire to feel healthier and 51% want to reduce weight by exercising and modifying their diets including attempting to eat more plant-based foods. Therefore, the increasing awareness of fitness among people and the growing number of health-conscious consumers propels the growth of the agave nectar market.

The introduction of biodegradable agave-based straws is an emerging trend in the agave nectar market. Major companies operating in the agave nectar sector are focused on introducing biodegradable agave-based straws as an alternative to conventional plastic straws. For instance, in December 2019, Jose Cuervo, a US-based producer of tequila, launched biodegradable agave-based straws which will decompose up to 200 times faster than regular plastic. The new straws, which are made from an agave bio-based composite, substitute around a third of the polymers utilized in conventional straw manufacture and may be fed to microorganisms to completely biodegrade under landfill settings within one to five years. The agave-based straws have a mouthfeel and texture comparable to regular plastic straws, with a natural, organic tan hue created by the agave fibers.

In December 2020, Whole Earth Brands, a US-based company that focuses on consumer transition towards natural alternatives, plant-based, clean label, and non-sugar products acquired Wholesome Sweeteners, Inc. for $180 million-plus an earnout. This acquisition will help Whole Earth Brands to enhance its competitive position and expand consumers’ access to delicious foods. Wholesome Sweeteners, Inc. is a US-based manufacturer of organic sweeteners, including sugar, honey, agave, allulose, and other liquid products.

Major players in the agave nectar market are Whole Earth Brands, Pura Foods Ltd., Malt Products Corporation, The Groovy Food Company, Sisana Sweetener, Domino Foods Inc, The IIDEA Company, Madhava Foods, The Agave Sweetener Company, Nekutli, The Tierra Group, and LOC Industries Inc.

Asia Pacific was the largest region in the agave nectar market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the agave nectar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The global agave nectar market is segmented -

1) By Product: Light Agave Nectar, Dark Agave Nectar

2) By Functional: Emulsifier, Sweetener, Flavor Enhancer

3) By Distribution Channel: Supermarkets, Online Stores, Retail Stores, Others

4) By Application: Bakery, Beverages, Confectionery, Others

Organic Soft Drinks Market Definition

The organic soft drinks market consists of sales of organic soft drinks by entities (organizations, sole traders, and partnerships) that produce such beverages from natural sweeteners or other wholesome ingredients. Only goods and services traded between entities or sold to end consumers are included. An organic soft drink is a type of non-alcoholic beverage usually made from fresh organic fruits or vegetables grown on farms without insecticides or pesticides, made without ionizing radiation, without genetic modification and without the use of a wide variety of food additives.

The non-alcoholic beer market consists of sales of non-alcoholic beer by entities (organizations, sole traders, and partnerships) that manufacture non-alcoholic beer. Non-alcoholic beer contains 0% to 1.2% of alcohol and it is generally manufactured by removing alcohol from the finished product or by boiling beer to evaporate the alcohol.

The main types of non-alcoholic beer are alcohol-free and low alcohol. Low alcohol beers are those that taste similar to beer but contain a significantly less amount of alcohol. The main types of materials used in producing non-alcoholic beer include malted grains, hops, yeasts, enzymes, others. The various categories of non-alcoholic beer are plain and flavored. These types of beer are sold to consumers through store-based and non-store-based sales channels.

The global non-alcoholic beer market is expected to grow from $15.09 billion in 2020 to $16.65 billion in 2021 at a compound annual growth rate (CAGR) of 10.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The non-alcoholic beer market is expected to reach $23.27 billion in 2025 at a CAGR of 8.7%.

The growing awareness of the benefits of alcohol-free beverages supported the growth of the non-alcoholic beer market in the historic period. Alcohol-free beer or non-alcoholic beer generally contains negligible or very little alcohol, which usually ranges from 0% to 1.2%. According to an article by Upstream Brewing Company, alcohol-free beer improves cardiovascular health, increases bone mineral density, reduces the risk of osteoporosis, and also stimulates breast milk production. For instance, according to a 2021 survey, 38% of Indians wish to switch from standard strength beer to no or low-alcohol beer. The trend is prevalent among young consumers in the 25 to 34 age group with 41% of young beer consumers willing to switch to no or low-alcohol beers. Therefore, growing awareness of the benefits of alcohol-free beverages supported the growth of the non-alcoholic beer market.

Non-alcoholic beer manufacturers are introducing innovative products into the market owing to a significant rise in awareness of health consciousness among consumers. Consumers are more concerned about their health and are accepting paying more for food that is specifically good for health. There is an increase in demand for low-alcohol and no-alcohol items from people with the health illness. To capitalize on this, many companies are launching new products into the market to increase their share. For instance, in 2021, UNLTD IPA., an alcohol-free beer manufacturer launched a non-alcoholic beer that has only 13 calories per bottle, is vegan friendly, and gluten-free. Similarly, Athletic Brewing Company, a non-alcoholic beer producer has launched All Out, an extra dark stout with a full-bodied mouthfeel and toasty finish, accented with coffee and bittersweet chocolate.

In November 2019, Lion Little World Beverages Pty Ltd., an Australia-based beverage and hospitality company has acquired New Belgium Brewing for an undisclosed amount. The acquisition would enable Lion Little World Beverages Pty Ltd. to establish a leading craft beverage business in the USA. New Belgium Brewing is a US-based beverage company that produces and distributes various types of beers including a range of non-alcoholic beers.

Major players in the non-alcoholic beer market are Anheuser-Busch InBev, BERNARD Family Brewery Inc., Big Drop Brewing Co., Carlsberg Breweries Group, Coors Brewing Company, Erdinger Weibbrau, Heineken N.V., Krombacher Brauerei, Moscow Brewing Company, Royal Swinkels Family Brewers, Suntory Holdings Limited, Kirin Brewery Company, and The Bayerische Staatsbrauerei Weihenstephan.

North America was the largest region in the non-alcoholic beer market in 2020. The regions covered in the non-alcoholic beer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the non-alcoholic beer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The global non-alcoholic beer market is segmented -

1) By Product: Alcohol Free, Low Alcohol

2) By Material: Malted Grains, Hops, Yeasts, Enzymes, Others

3) By Category: Plain, Flavored

4) By Distribution Channel: Store-Based, Non-Store-Based

The dried fruits market consists of sales of dried fruits. The market consists of revenue generated by establishments that are engaged in the production of dried fruits. Dried fruit is a fruit that has been preserved by dehydrating or drying to concentrate the flavor or sweetness and to extend the shelf life. In dried fruits, the bulk of its original water content is removed, either naturally, by sun drying, or artificially, by using specialized dryers or dehydrators.

The main types of dried fruits are apricots, dates, raisins, figs, berries, and others. Apricots, sometimes known as Armenian plums, are a type of stone fruit. Dried apricots are used to improve bone mineral density and helps in promoting eye health. The different categories include conventional, organic and are used in confectioneries, dairy products, bakery products, snacks and bars, desserts, cereals, others.

The global dried fruits market is expected to grow from $6.34 billion in 2020 to $7.05 billion in 2021 at a compound annual growth rate (CAGR) of 11.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The dried fruits market is expected to reach $9.50 billion in 2025 at a CAGR of 7.8%.

The growing population of healthier consumers is expected to propel the growth of the dried fruits market in the coming years. Healthy eating has become the norm, with most customers intending foods and beverages to meet progressively nuanced health, wellness morality, and sustainability criteria. Dry fruits are a good source of protein, vitamins, minerals, and dietary fiber and are considered a good replacement for high-calorie snacks. According to the survey commissioned by biotechnology startup Gelesis in January 2021, 60% of Americans would like to feel healthier and 51% want to reduce weight by practicing and modifying their diets, which includes attempting to eat more plant-based foods. Therefore, the growing population of healthier consumers drives the growth of the dried fruits market.

The launch of new flavored dried fruits has emerged as a key trend in the dried fruits market. Major players operating in the dried fruits sector are focused on introducing new flavored dried fruits into the market to strengthen their position. For instance, in April 2019, Traina, a US-based company that produces dried fruits launched two new flavors such as Natural Cherry and the Summer Blend for summer. Natural Cherry is made with cherries, whereas Summer Blend is made with dried peaches, nectarines, and plums.

In April 2021, Hyle Capital Partners, a private equity firm based in Italy acquired a majority stake in Manuzzi for an undisclosed amount. This acquisition helps to accelerate growth and strengthen Manuzzi’s position within the major retail chains in Italy. Manuzzi is an Italy-based company that produces dried fruit and nuts.

Major players in the dried fruits market are Sunbeam Foods Group Ltd., Sun-Maid, Bergin Fruit and Nut Company, Traina Foods, Sunsweet, Lion Raisins Inc, Murray River Organics Gr, National Raisin Company, Geobres, Angas Park, AL FOAH, Royal Nut Company, Tulsi Nuts and Dryfruits, Valley Harvest Nut Company, Paradise Fruits, and Kiantama Oy.

Asia Pacific was the largest region in the dried fruits market in 2020. North America was the second-largest region in the dried fruits market. The regions covered in the dried fruits market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the dried fruits market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The global dried fruits market is segmented -

1) By Type: Apricots, Dates, Raisins, Figs, Berries, Others

2) By Category: Conventional, Organic

3) By Application: Confectioneries, Dairy Products, Bakery Products, Snacks And Bars, Desserts, Cereals, Others

The dried peas market consists of sales of dried peas by entities (organizations, sole traders, and partnerships) that are engaged in the production of dried peas. Dried peas, also known as field peas, when dried are used in food preparation such as pasta, cereals, and soups. Dried peas are considered a very good source of potassium, cholesterol-lowering fiber, and two B–Vitamins, protein, and contain almost no fat. They help lower cholesterol, maintain blood sugar levels, and lower high blood pressure.

The main product types of dried peas are yellow peas and green peas. Yellow peas are small peas with a round shape and a mild flavor and is a good source of cholesterol-lowering fiber. Green peas are small peas with round shape and a nuttier flavor. Before being sold, they are normally dried and then cut in half. It has both conventional and organic nature and is used in household and retail, foodservice or HoReCa, animal feed, pharmaceuticals and supplements, cosmetics and personal care, food and beverage processing.

The global dried peas market is expected to grow from $4.01 billion in 2020 to $4.37 billion in 2021 at a compound annual growth rate (CAGR) of 9.12%. The growth in the dried peas market is mainly due to increasing number of people shifting to veganism and increasing health-conscious customers. The market is expected to reach $5.58 billion in 2025 at a CAGR of 6.29%.

The increasing number of individuals preferring a healthy lifestyle is expected to propel the growth of the dried peas market in the coming years. A healthy lifestyle in people nowadays helps fight illness, focuses on a strong immune system to prevent fight infections, and more energy. In recent years, people have been taking care of their health and hence lot of them are shifting towards a vegetarian diet as it would lead to lower blood pressure, improved cholesterol levels, which reduces the chance of a heart attack and stroke. For instance, according to FMCG Gurus 2020 survey report, 59% of consumers around the world have become more conscious about their health. This has increased the market for plant-based proteins as well which include, peas, lentils, beans, and soy products.

Dried peas companies are increasingly offering pea protein-based powder which can be incorporated in ready-to-drink beverages, baked goods, and dairy foods. Pea protein has a higher concentration of protein and well-balanced profile of amino acids and can be used as a substitute for egg protein in products such as mayonnaise and as an alternative to soy and wheat gluten. For instance, in 2019, US based food company, Cargill launched a new versatile pea protein powder Radipure, which is made from non-GMO (Genetically Modified Organisms) dried peas.

In November 2020, Ingredion Inc., a US-based ingredient solutions company acquired Verdient Foods for an undisclosed amount. The acquisition will enable Ingredion Inc. to accelerate net sales growth, expand manufacturing capabilities, and collaborate with customers to meet the rising demand for plant-based foods. Verdient Foods is a Canada-based company that produces plant-based proteins derived by producing peas, lentils, faba beans, and other sources.

Major players in the dried peas market are Vestkorn Milling AS, AGT Food and Ingredients, Cosucra Groupe Warcoing S.A., Dakota Ingredients, Goya Foods Inc., Ingredion Inc., Roquette Frères, and The Scoular Company.

Asia Pacific was the largest region in the dried peas market in 2020. The regions covered in the dried peas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the dried peas market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The global dried peas market is segmented -

1) By Product Type: Yellow Peas, Green Peas

2) By Nature: Conventional, Organic

3) By Application: Household Or Retail, Foodservice Or HoReCa, Animal Feed, Pharmaceuticals And Supplements, Cosmetics And Personal Care, Food And Beverage Processing