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Pea Flakes Market Size, Top Key Players, Growth, Trend Analysis And Forecast To 2033
Pea Flakes Market
Pea Flakes Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $150.38 billion In 2028 At A CAGR Of 13.6% :
The pea flakes market size has grown rapidly in recent years. It will grow from $1.86 billion in 2023 to $2.07 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to health and wellness trends, vegetarian lifestyle trends, food industry innovation, consumer preference for natural ingredients, sustainability concerns, allergen-free nature.
The pea flakes market size is expected to see rapid growth in the next few years. It will grow to $3.14 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to continued health and wellness focus, expanding vegan and vegetarian markets, government policies and subsidies, rising environmental awareness, increased acceptance of alternative proteins. Major trends in the forecast period include demand for clean label and natural ingredients, expansion of pet food applications, investments in processing technologies, emergence of pea flakes as a texturizing agent, global market penetration.
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Pea Flakes Market Major Segments
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
Key Driver - Pea Flakes Market Growth Driven By Superfood Trend
The increasing expenditure on superfoods or healthy food products is expected to propel the growth of the pea flakes market going forward. Superfoods or healthy food products are defined as nutrient-dense meal, such as salmon, broccoli, or blueberries, that are thought to be good for one's health because it contains antioxidants, fiber, or fatty acids. The increasing expenditure on superfoods or healthy food products will create demand for pea flakes as they are one of the nutritional foods that have health benefits. For instance, according to Medical News Today, a UK-based web-based outlet for medical information and news, the global superfoods or healthy food products market expenditure was found to be USD 6.57 billion in 2022, which is expected to reach a value of USD 11.50 billion in 2030 with a compound annual growth rate (CAGR) of 7.2%. Therefore, the increasing expenditure on superfoods or healthy food products is driving the growth of the pea flakes market.
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Prominent Trend - New Pea Flakes Products Offer Versatility And Nutritional Benefits
Product innovation is a key trend gaining popularity in the pea flakes market. Major companies operating in the pea flakes market are focused on developing innovative products to strengthen their market position. For instance, in December 2021, Gold&Green, a Finland-based Finnish food technology company launched protein granules and protein flakes made from oat bran, pea, and fava bean protein. The plant-based ingredients have a neutral flavor profile and texture that can be adjusted to fit different uses. They have fiber, potassium, and iron, and are a rich source of protein. The components can be used to make shaped foods such as falafel, veggie burgers, balls, and patties. They can be used in deli salads, baked goods, frozen dinners, and plant-based substitutes for dairy, meat, and fish as well as a source of protein.
Pea Flakes Market Players
Major companies operating in the pea flakes market report 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
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Largest And Fastest Growing Region In The Market
North America was the largest region in the pea flakes market share in 2023. 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.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Pea Flakes Market Report Structure
3. Pea Flakes Market Trends And Strategies
4. Pea Flakes Market - Macro Economic Scenario
5. Pea Flakes Market Size And Growth
…..
27. Pea Flakes Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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