Asia-Pacific Peas Market Size (2024 - 2029)

Asia-Pacific Peas Market Size Summary

The Asia Pacific peas market is experiencing a steady growth trajectory, driven by increasing demand for plant-based protein sources. Peas, originally cultivated in China and India, have become a significant commercial crop in the region, with these countries leading in production and consumption. Despite their substantial output, India and China still rely on imports to satisfy their domestic needs, highlighting a gap between production and consumption. This demand is fueled by rising incomes and a growing trend towards vegan diets, as more consumers shift from meat to plant-based proteins. The popularity of pea protein, due to its nutritional benefits and Western influence, is creating new opportunities for producers and food manufacturers, enhancing the market's growth prospects.

To bolster domestic production and reduce reliance on imports, countries like India have implemented supportive policies. These include imposing import duties and providing financial incentives such as Minimum Support Prices (MSPs) to stabilize market prices. Additionally, the Indian government has expanded buffer stocks through its Central Warehousing Cooperation to further support the market. These strategic measures aim to strengthen the local pea industry, ensuring it can meet the rising consumer demand and capitalize on the growing trend of plant-based diets in the Asia Pacific region.