Global Ready-to-Drink Pea Protein-based Beverages Market is projected to reach the value of $125.55 Billion by 2030

According to the report published by Virtue Market Research in 2024, the Global Ready-to-Drink Pea Protein-based Beverages Market was valued at $83.50 Billion, and is projected to reach a market size of $125.55 Billion by 2030. Over the forecast period of 2025-2030, market is projected to grow at a CAGR of 6%.

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The Global Ready-to-Drink Pea Protein-based Beverages Market has experienced significant growth in recent years, driven by various market drivers and trends. One long-term market driver is the increasing consumer demand for plant-based protein beverages. Consumers are increasingly seeking healthier and more sustainable alternatives to traditional dairy-based beverages, leading to a rise in demand for pea protein-based beverages. However, the market has also been impacted by the COVID-19 pandemic, which led to disruptions in the supply chain and changes in consumer behavior. Despite these challenges, the market is expected to recover as the economy stabilizes and consumer demand for healthier beverage options continues to grow.

In the short term, one market driver is the increasing availability of pea protein-based beverages in retail outlets and online channels. This has made it easier for consumers to access these beverages, leading to an increase in sales. An opportunity in the market lies in the growing trend of customization and personalization. Companies are increasingly offering customizable options for pea protein-based beverages, allowing consumers to choose the ingredients and flavors that best suit their preferences. This trend is driven by consumer demand for personalized products that cater to their specific dietary needs and preferences.

One trend observed in the industry is the growing focus on sustainability. Companies are increasingly adopting sustainable practices in the production and packaging of pea protein-based beverages, in response to consumer demand for environmentally friendly products. This trend is driven by increasing awareness of the environmental impact of food production and consumption, leading consumers to seek out products that are produced in a sustainable manner. Overall, the Global Ready-to-Drink Pea Protein-based Beverages Market is poised for continued growth, driven by consumer demand for healthier and more sustainable beverage options, as well as ongoing innovations in product development and marketing strategies.

Segmentation Analysis:
The global Ready-to-Drink Pea Protein-based Beverages Market segmentation includes:
By Flavor: Plain, Chocolate, Mango, Strawberry, Vanilla, Others.
The chocolate segment is the largest in the Global Ready-to-Drink Pea Protein-based Beverages Market, holding the highest market share in 2022. This growth is driven by the exceptional taste and popularity of chocolate flavor among consumers, providing a delightful sensory experience in these beverages. The fastest-growing segment, however, is the mango flavor. The tropical and refreshing taste of mango has gained popularity among consumers, especially in regions where mangoes are widely cultivated. Manufacturers are introducing new mango-flavored pea protein-based beverages to cater to this growing demand, contributing to the segment's rapid growth.

By Source : Green Pea, Yellow Split Pea.
The yellow split pea segment is the largest, holding the largest share of the total market in 2022. This segment's growth is attributed to the higher protein content of yellow split peas compared to green peas, making them a more appealing choice for consumers looking for protein-rich beverages. The fastest-growing segment, however, is the green pea segment. Green peas are gaining popularity among consumers due to their perceived health benefits and sustainability. Manufacturers are increasingly using green peas as a source of protein in ready-to-drink beverages, leading to the segment's rapid growth.

By Distribution Channel: Convenience Stores, Supermarkets/Hypermarkets, E-commerce, Others.
Supermarkets and hypermarkets are the largest segment, holding the highest market share. This is due to their wider reach and accessibility, attracting a larger consumer base. These stores offer a variety of products at competitive prices, making them a preferred choice for consumers. The fastest-growing segment, however, is the e-commerce segment. The convenience of online shopping and the increasing availability of pea protein-based beverages on e-commerce platforms have contributed to the segment's rapid growth. Consumers can now easily purchase these beverages online, driving the growth of this distribution channel.

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Regional Analysis:
North America dominates the Global Ready-to-Drink Pea Protein-based Beverages Market, holding the largest share. The region's growth is driven by the increasing demand for plant-based protein products, the growing adoption of vegan and vegetarian lifestyles, and the rising number of health-conscious individuals. North America is also home to several major market players, contributing to its market dominance. Asia-Pacific is expected to witness the fastest growth rate, driven by the increasing number of health-conscious individuals and the rising adoption of pea protein products for their nutritional benefits.

Latest Industry Developments:
1. Product Innovation: Companies are focusing on innovation to differentiate their products and attract consumers. This includes developing new flavors, improving taste and texture, and incorporating functional ingredients to enhance the nutritional profile of their beverages. Recent developments in product innovation include the introduction of unique flavors such as mango and strawberry, as well as the use of innovative packaging to improve convenience and shelf-life.

2. Strategic Partnerships: Companies are forming strategic partnerships and collaborations to expand their market reach and distribution channels. This includes partnerships with retailers, e-commerce platforms, and other beverage companies to increase their visibility and availability to consumers. Collaborations with ingredient suppliers and research institutions are also helping companies develop new formulations and improve the quality of their products.

3. Marketing and Branding: Companies are investing in marketing and branding initiatives to build brand awareness and loyalty among consumers. This includes digital marketing campaigns, social media engagement, and sponsorship of events and influencers. Companies are also focusing on promoting the health and sustainability benefits of pea protein-based beverages to attract health-conscious consumers

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This release was published on openPR.