North America Peas Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| Market Size (2024) | USD 3.46 Billion |
| Market Size (2029) | USD 6.32 Billion |
| CAGR (2024 - 2029) | 12.80 % |
North America Peas Market Analysis
The North America Peas Market size is estimated at USD 3.46 billion in 2024, and is expected to reach USD 6.32 billion by 2029, at a CAGR of 12.80% during the forecast period (2024-2029).
- Peas, annual pulse legume crops, are widely consumed across North America and thrive in cold climates. In the United States, peas rank as the second most valuable canned food after tomatoes. The region's economic stability, sustainable land base, and efficient transportation network make it an ideal location for pea cultivation.
- According to FAO data, the United States harvested green peas from over 50,684 hectares in 2023. Between 2021 and 2023, frozen vegetable imports increased by 13.4%, reaching USD 1.43 billion. In 2023, imports continued to capture larger shares of domestic markets for frozen green peas.
- Plant protein demand has grown significantly in North America, with the region dominating the global pea protein industry in terms of revenue. The increasing health consciousness has led to a rapid rise in high-protein food consumption. Consumers' desire for nutrient-rich packaged food products has created a substantial market for pea protein powder, driving the region's overall pea market.
- North America stands as the world's largest producer and exporter of dried peas. Canada leads the region's pea production and export market, producing 3.42 million metric tons in 2023, followed by the United States, according to FAO Statistics. The main pea varieties grown in the region include yellow, green, and Austrian winter peas, with yellow and green peas accounting for two-thirds of North American pea production.
North America Peas Market Trends
Increasing Export Demand of Peas from United States and Canada
The liberalization of the United States-Mexico dry bean trade under the North American Free Trade Agreement (NAFTA) has facilitated US dry bean exports to Mexico and Canada. This agreement has opened new opportunities for United States producers in the North American market.
Canadian pea exports have consistently reached about three million metric tonnes annually. China, the United States, Bangladesh, and India are the primary importers, with China being the largest buyer of both yellow and green peas. India has re-emerged as a significant buyer after reducing its import tariffs. In recent years, Russia has become a major competitor in the Chinese and Indian markets, with its production now exceeding that of Canada. Other key competitors for Canada in the global pea export market include Ukraine, France, the United States, and Australia.
In 2023, the United States exported 51,531.8 metric tons of dry peas, representing a 13.7% decrease from the previous year. According to the Food and Agriculture Organization of the United Nations, the area seeded to dry peas in the United States decreased by 6.4% between 2021 and 2023, primarily due to higher abandonment rates and lower yields. Despite this decline, the United States maintains a significant share of the global market, exporting primarily to Canada, Mexico, Colombia, the Bahamas, and the United Kingdom.
Growing Demand for Pea Protein
Global demand for healthy, low-fat food has increased due to growing health consciousness among consumers, leading to a rise in vegan diet adoption. This trend is fueling plant protein-based product growth in countries like the United States and Canada.
Yellow peas have played a crucial role in addressing protein-energy malnutrition in developing and underdeveloped countries, contributing to the global yellow peas market growth. The introduction of new plant protein-based products and increased demand from a growing vegetarian population have boosted the yellow peas market during the study period.
A survey by Myco Technology revealed that 17% of respondents who use pea protein identify as vegan, indicating a strong appeal among those committed to plant-based diets in 2022. Additionally, 38% of consumers mix pea protein products with dairy milk, driven by factors such as taste, texture, and quality. These results highlight a growing consumer interest in pea protein, not only for its alignment with vegan and plant-based preferences but also for its versatility in different dietary combinations.
Consumer demand and focus on non-GMO and gluten-free products are estimated to stimulate the pea protein market's growth. Organic pea protein costs are influenced by manufacturing methods, product qualities, and demand for textured pea protein in meat processing, creating significant opportunities for pea protein ingredients.
North America Peas Market News
- February 2024: Louis Dreyfus Company (LDC) announced the construction of a pea protein isolate production plant for its Plant Proteins business at its existing industrial complex in Yorkton, Saskatchewan, Canada. Scheduled for completion by the end of 2025, the new facility will enable LDC to provide customers with highly functional, taste-neutral, and nutritious pea protein.
- November 2021: The Minister of Agriculture and Agri-Food Canada invested over USD 3.2 million to support Canada's pea and pulse farmers in meeting the growing consumer demand for sustainable, high-quality plant-based protein. The investments will fund international marketing activities to secure foreign buyers, enhance transportation network performance, and mitigate risks associated with international trade barriers.
North America Peas Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Demand for Pea Protein
4.2.2 Growing Preference for Plant-Based Diets
4.2.3 Increasing Application in Processed Food and Snacks
4.3 Market Restraints
4.3.1 High Production Costs
4.3.2 Limited Awareness in Certain Areas
4.4 Value Chain Analysis
5. MARKET SEGMENTATION
5.1 United States
5.1.1 Production Analysis
5.1.2 Consumption Analysis
5.1.3 Import Analysis by Volume and Value
5.1.4 Export Analysis by Volume and Value
5.1.5 Price Trend Analysis
5.2 Canada
5.2.1 Production Analysis
5.2.2 Consumption Analysis
5.2.3 Import Analysis by Volume and Value
5.2.4 Export Analysis by Volume and Value
5.2.5 Price Trend Analysis
5.3 Mexico
5.3.1 Production Analysis
5.3.2 Consumption Analysis
5.3.3 Import Analysis by Volume and Value
5.3.4 Export Analysis by Volume and Value
5.3.5 Price Trend Analysis
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Peas Industry Segmentation
A pea is a small round green seed eaten as a vegetable. Pea protein is popularly added to veggie burgers, energy bars, and popcorn to milk, yogurt, and ice cream. The North American peas market includes a detailed analysis of production (volume), consumption (volume and value), import (volume and value), export (volume and value), and price trends. The market size is provided in terms of value (USD) and volume (Metric Tons) for the above-mentioned segments.
| United States | |
| Production Analysis | |
| Consumption Analysis | |
| Import Analysis by Volume and Value | |
| Export Analysis by Volume and Value | |
| Price Trend Analysis |
| Canada | |
| Production Analysis | |
| Consumption Analysis | |
| Import Analysis by Volume and Value | |
| Export Analysis by Volume and Value | |
| Price Trend Analysis |
| Mexico | |
| Production Analysis | |
| Consumption Analysis | |
| Import Analysis by Volume and Value | |
| Export Analysis by Volume and Value | |
| Price Trend Analysis |
North America Peas Market Research FAQs
How big is the North America Peas Market?
The North America Peas Market size is expected to reach USD 3.46 billion in 2024 and grow at a CAGR of 12.80% to reach USD 6.32 billion by 2029.
What is the current North America Peas Market size?
In 2024, the North America Peas Market size is expected to reach USD 3.46 billion.
What years does this North America Peas Market cover, and what was the market size in 2023?
In 2023, the North America Peas Market size was estimated at USD 3.02 billion. The report covers the North America Peas Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Peas Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Peas Industry Report
Statistics for the 2024 North America Peas market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Peas analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
