What Transformation Has the Dried Peas Market Undergone?
The dried peas market has seen considerable growth due to a variety of factors.
• The market for dried peas has seen hefty growth in recent times. Forecasts indicate it will expand from $5.54 billion in 2024, to $5.96 billion in 2025, signifying a compound annual growth rate (CAGR) of 7.5%.
Factors such as culinary traditions, longevity in terms of shelf-life and storage, versatility in cooking, farming methodologies, economic considerations and historical trade and distribution have caused growth in the previous period.
What is the Forecasted Market Size and CAGR for the Dried Peas Market?
The dried peas market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size for dried peas is predicted to witness substantial growth, with projections estimating a growth to $8.14 billion by 2029, reflecting a Compound Annual Growth Rate (CAGR) of 8.1%.
This growth in the anticipated period is due to factors like consumer awareness and marketing efforts, changing food preferences, advancements in processing and packaging methods, the implementation of sustainable farming practices, and the increased adoption of plant-based diets. The forecast period is expected to see trends like increased demand for plant-based proteins, preference for snacking and convenience, proliferation of meat substitutes, continued sustainability in farming practices, and innovative product forms.
What Are The Core Factors Supporting Growth In Dried Peas Market?
The growth of the dried peas market is predicted to be driven by a rising number of individuals opting for a healthy lifestyle in the future years. Being healthy nowadays aims at warding off diseases, boasts a robust immune system to resist infections, and promotes vitality. Recently, there has been an increased focus on health among people, causing a significant shift towards a vegetarian diet because it can lower blood pressure and improve cholesterol levels, decreasing the risk of heart attacks and strokes. As an example, Sport England, a non-departmental public body in the UK, demonstrated that from November 2022 to November 2023, 63.4% of adults adhered to the Chief Medical Officers' recommendation of engaging in a minimum of 150 minutes of moderate-intensity physical exercise every week.
What Are The Principal Market Segments In The Global Dried Peas Healthcare Industry?
The dried peas market covered in this report 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
Subsegments:
1) By Yellow Peas: Whole Yellow Peas, Split Yellow Peas, Yellow Pea Flour
2) By Green Peas: Whole Green Peas, Split Green Peas, Green Pea Flour
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Which Emerging Market Trends Are Altering The Dried Peas
Companies that deal with dried peas are progressively introducing pea protein-based powders that can be integrated into ready-to-drink beverages, baked goods, and dairy products. The concentration of protein in pea protein is relatively high, and it has a balanced array of amino acids, making it a suitable alternative for egg protein in items such as mayonnaise, and a potential replacement for soy and wheat gluten. For example, in September 2022, Tata Consumer Product (TCP), a company based in India that handles a variety of consumer goods including food and drinks, introduced Tata GoFit. Tata GoFit's plant protein powder is entirely plant-derived, free from soy, lactose, and additional sugar, and incorporates ingredients such as peas and brown rice in an easy-to-prepare blend that is enriched with probiotics to improve gut health.
Who Are the Key Players in the Dried Peas Market?
Major companies operating in the dried peas market include:
• The Kraft Heinz Company
• Simplot Company
• Ingredion Inc.
• Roquette Frères S.A.
• Del Monte Foods Inc.
• Greenyard Foods NV
• TreeHouse Foods Inc.
• ConAgra Brands Inc.
• Bonduelle S.A.
• Keystone Foods LLC
• Goya Foods Inc.
• Seneca Foods Corporation
• Premier Foods plc
• AGT Food and Ingredients Inc.
• Findus France SAS
• The Scoular Company
• Euroma (Netherlands) BV
• Cosucra Groupe Warcoing S.A.
• Meelunie BV
• Herba Ingredients Limited
• North Bay Trading Company
• Vestkorn Milling AS
• L.H. Hayward Ltd.
• Dakota Ingredients LLC
• Green Giant Foods LLC
• AM Nutrition LLC
• Burlingame Foods Inc.
• Erbsen-Vertriebs-Zentrale eG (EVZ)
What are the Regional Insights into the Dried Peas Market?
Asia-Pacific was the largest region in the dried peas market in 2024. The regions covered in the dried peas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
