Press release
Pea Flakes Market Set to Reach $3.47 Billion by 2029 with 11% Yearly Growth
Pea Flakes Market Share
The surge in demand for easy-to-prepare foods is set to boost the pea flakes market in the future. Such foods, which require minimal preparation efforts, are becoming increasingly popular due to hectic lifestyles, urban expansion, and the need for speedy and simple meal solutions. Pea flakes have become a common ingredient in these types of foods due to their nutritional value, versatility, and capacity to increase the protein content of ready-to-consume meals and snacks. As an illustration, in March 2024, the Bank of Ayudhya Public Company Limited, a commercial banking corporation based in Thailand, stated that the domestic market for ready-to-eat meals manufactured in Thailand is projected to expand by 3.0-4.0% per year from 2024 to 2026. Furthermore, in 2022, the ready-to-eat food sector registered a total domestic and export sales volume of 482.4 thousand tons, achieving a value of USD 2.0 billion. Therefore, the escalating demand for easy-to-prepare foods is the key driver behind the growth of the pea flakes market.
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What growth opportunities are expected to drive the pea flakes market's CAGR through 2034?
Over the past few years, there has been a swift expansion in the market size of pea flakes. The market is expected to escalate from $2.07 billion in 2024 to $2.31 billion in 2025, with a compound annual growth rate (CAGR) of 11.3%. Factors such as health and wellness trends, vegetarian lifestyles, innovative developments in the food industry, consumer inclination towards natural ingredients, sustainability issues, and allergen-free characteristics can be credited for the growth during the historic period.
In the upcoming years, the pea flakes market is anticipated to witness a swift expansion. The predicted growth will bring the market's worth to approximately $3.47 billion in 2029 with a compound annual growth rate (CAGR) of 10.7%. This market growth over the anticipated period is linked to ongoing health-conscious trends, further spread of vegan and vegetarian lifestyles, government legislation and financial aid, heightened consciousness of environmental concerns, alongside the increased recognition of substitute proteins. Key trends forecasted for this period encompass a rising demand for products with clean and natural labels, expansion into pet food applications, investments into process technologies, the recognition of pea flakes as a texturizing agent and their worldwide market penetration.
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What are the emerging trends shaping the future of the pea flakes market?
In the pea flakes market, product innovation is becoming a crucial trend. To fortify their market presence, major corporations in this industry are concentrating on producing unique products. To illustrate, in November 2023, BENEO GmbH, based in Germany, revealed new plant-derived innovations at the Food Ingredients Europe (FiE) expo, putting pea flakes in the spotlight as a main ingredient. These pea flakes were used to enhance the juiciness of products such as beef bites, as well as to increase the texture and cohesiveness of a vegan binder devoid of meat. These developments by Beneo echo an increased emphasis on plant-derived ingredients that offer both versatility and nutrition to meet the consumer's preference for vegan products with excellent taste and texture.
Which growth-oriented segments of the pea flakes market are leading the industry's development?
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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What regions are leading the charge in the pea flakes market?
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.
What companies are at the forefront of innovation 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
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What Is Covered In The Pea Flakes Global Market Report?
• Market Size Forecast: Examine the pea flakes market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the pea flakes market for a structured understanding.
• Key Players Overview: Analyze major players in the pea flakes market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the pea flakes market.
• Segment Contributions: Evaluate how different segments drive overall growth in the pea flakes market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the pea flakes market.
• Industry Challenges: Identify potential risks and obstacles affecting the pea flakes market.
• Competitive Landscape: Review strategic developments in the pea flakes market, including expansions, agreements, and new product launches.
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