Press release
Transformative Trends Impacting the Pea Flakes Market Landscape: New Pea Flakes Products Offer Versatility And Nutritional Benefits
Pea Flakes
How Large Will the Pea Flakes Market Size By 2025?
Rapid expansion has been observed in the pea flakes market size in the past few years. Its growth is anticipated to escalate from $2.07 billion in 2024 to $2.31 billion in 2025, marking a compound annual growth rate (CAGR) of 11.3%. The notable growth during the historic period is associated with health and wellness inclinations, vegetarian lifestyle movements, food industry evolution, consumer partiality towards natural constituents, sustainability issues, and allergen-free characteristics.
How Big Is the Pea Flakes Market Size Expected to Grow by 2029?
The market size of pea flakes is slated to experience swift expansion in the upcoming years, where it is predicted to reach a value of $3.47 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 10.7%. The surge during this forecasted period can be credited to an ongoing emphasis on health and wellness, proliferation of vegan and vegetarian markets, government regulations and subsidies, an upswing in environmental consciousness, and the broadening acceptance of alternative proteins. Key factors influencing the market during this period will include the requirement for clean label and natural ingredients, expansion of applications into pet food, investment in processing technologies, the rise of pea flakes as a texturizing tool, and the increased global penetration of the product.
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Which Key Market Drivers Powering Pea Flakes Market Expansion and Growth?
The growth of the pea flakes market is anticipated to be propelled by the increasing demand for convenience foods. These are foods that are almost ready to be eaten at the time of purchase and can be easily and quickly prepared. The busy lifestyle of modern consumers, increased urbanization, and the requirement for fast and straightforward meal solutions are fueling the demand for such foods. Pea flakes are finding more use in these convenience foods due to their nutritional value, versatility, and the fact that they can boost protein content in ready-to-consume meals and snacks. For instance, the Bank of Ayudhya Public Company Limited, a commercial banking entity based in Thailand, revealed in March 2024 that the local market for Thai-produced ready-to-consume foods is projected to experience an annual growth rate of 3.0-4.0% from 2024 to 2026. In addition, in 2022, the ready-to-consume food sector recorded a total of 482.4 thousand tons in domestic and export sales, totaling USD 2.0 billion in value. As a result, the rising demand for convenience foods is stimulating the growth of the pea flakes market.
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Which Fast-Growing Trends Are Poised to Disrupt the Pea Flakes Market?
Product innovation serves as a crucial trend that is swiftly gaining traction in the pea flakes market. Several prime businesses within this market are paying extra attention to launching creative innovations so as to fortify their market foothold. To illustrate, BENEO GmbH, a food firm headquartered in Germany, unveiled a variety of new plant-based innovations which prominently feature pea flakes as an essential ingredient during the Food Ingredients Europe (FiE) expo held in November 2023. The pea flakes were put to use in various products, including enhancing the juiciness of beef bites and bolstering the texture and cohesion of a meatless vegan binder. Beneo's innovations hint at the intensifying focus on plant-based ingredients revered for their versatility and nutritional value, thereby catering to consumers' preferences for texture and taste in vegan goods.
What Are the Emerging Segments in the Pea Flakes Market?
The pea flakes market covered in this report is segmented -
1) By Type: Yellow Pea, Green Pea
2) By Nature: Organic, Conventional
3) By Application: Food Processing, Animal Feed
4) By Distribution Channel: Hypermarket Or Supermarket, Convenience Stores, Online
Subsegments:
1) By Yellow Pea: Whole Yellow Pea Flakes, Split Yellow Pea Flakes
2) By Green Pea: Whole Green Pea Flakes, Split Green Pea Flakes
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Who Are the Global Leaders in the Pea Flakes Market?
Major companies operating in the pea flakes market are Gemef Industries, BP Milling Ltd., Danone SA, Dumoulin SA, Garden Valley Foods, Green Foods LLP, Inland Empire Foods Inc., Iovate Health Sciences International Inc., JR Farm GmbH, Nutiva Inc., Orgain Inc., The Simply Good Food Company, True Nutrition, Wheeky Pets LLC, Vestkorn Milling AS, Cosucra Groupe Warcoing SA, Emsland Group, Roquette Freres SA, Avena Foods Limited, Batory Foods Inc., Best Cooking Pulses Inc., CanMar Grain Products Ltd., Cargill Inc., Columbia Grain International Inc., Diefenbaker Spice & Pulse, Gavilon Group LLC, Global Grain Canada Ltd., Ingredion Incorporated, J.G. Boswell Company, Kashi Company, Kellogg Company
Which are the Top Profitable Regional Markets for the Pea Flakes Industry?
North America was the largest region in the pea flakes market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pea flakes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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