Market Size of Peas Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.30 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
Peas Market Analysis
The peas market is projected to register a CAGR of 4.3% during the forecast period.
- The increasing world population, mainly in the developing regions, is continuously driving the consumption demand for peas, which also acts as a major driving force behind the growth of the peas market. Yellow peas and green peas are commercially grown varieties, with yellow peas dominating global production.
- The various commercial varieties of peas, such as dry peas, yellow, green, maple, green marrowfat, and Austrian winter peas, are grown globally. The growing risk of obesity and other health issues among the population has shifted them toward a healthy diet. Dried peas, rich in nutrients such as calories, carbs, protein, vitamins, and fibers, help reduce cholesterol levels and the risk of cardiovascular diseases. This is driving the demand for consumption among the population around the globe.
- Besides human consumption, dried peas are also hugely utilized in the medical industry and animal feeds. The multipurpose uses drive the demand for peas.
- The increasing shift to plant-based protein, easy availability, and rising awareness about health are anticipated to drive the consumption of fresh peas globally in the upcoming years.
Peas Industry Segmentation
Peas are among the most important legume crops grown globally. It is the small spherical seed or the seed pod of the flowering plant species Pisum sativum. It has numerous usages for food and animal feed.
The global peas market includes production analysis (volume), consumption analysis (value and volume), export analysis (value and volume), import analysis (value and volume), and price trend analysis across the globe. The market is segmented by geography into North America, Europe, Asia-Pacific, South America, and Africa.
The report offers the market size and forecasts in terms of volume in metric tons and value in USD thousand for all the above segments.
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Peas Market Size Summary
The peas market is experiencing steady growth, driven by increasing global consumption demand, particularly in developing regions. This demand is fueled by the rising awareness of health benefits associated with peas, such as their role in reducing cholesterol and cardiovascular disease risks. The market is characterized by a variety of commercially grown peas, including yellow and green peas, with yellow peas leading in global production. The shift towards plant-based diets and the growing popularity of pea protein, especially in developed countries, are significant factors propelling market expansion. Pea proteins, derived mainly from yellow peas, are increasingly used in a wide range of food products, replacing traditional ingredients like soy protein isolates. This trend is supported by the launch of new products and ingredients by key market players to cater to the growing demand for protein-rich and health-oriented food options.
Asia-Pacific stands as the largest producer of peas, with China and India leading in production volumes. Despite significant production, India remains a major importer due to its large and rising population's demand for dried peas. The favorable climatic conditions for pea cultivation and the expanding area under cultivation are contributing to the market's growth in this region. The development of new pea varieties and the introduction of innovative products by companies like Roquette further support the market's expansion. These developments are anticipated to continue driving the peas market globally, with a focus on meeting the increasing consumer demand for plant-based proteins and health-conscious food products.
Peas Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Value Chain / Supply Chain Analysis
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2. MARKET SEGMENTATION
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2.1 Geography (Production Analysis, Consumption Analysis by Volume and Value, Import Analysis by Volume and Value, Export Analysis by Volume and Value, and Price Trend analysis)
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2.1.1 North America
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2.1.1.1 United States
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2.1.1.2 Canada
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2.1.2 Europe
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2.1.2.1 Russia
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2.1.2.2 United Kingdom
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2.1.2.3 France
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2.1.2.4 Ukraine
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2.1.3 Asia-Pacific
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2.1.3.1 China
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2.1.3.2 Australia
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2.1.3.3 India
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2.1.4 South America
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2.1.4.1 Brazil
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2.1.4.2 Argentina
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2.1.5 Africa
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2.1.5.1 South Africa
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2.1.5.2 Egypt
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Peas Market Size FAQs
What is the current Peas Market size?
The Peas Market is projected to register a CAGR of 4.30% during the forecast period (2024-2029)
Which is the fastest growing region in Peas Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
