Market Trends of North America Peas Industry
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.
