Global Dried Peas Market Research Analysis 2020-2025
Global Dried Peas Market was at USD 4.5 billion in 2020 and is anticipated to reach over USD 6 billion by the end of the assessment period, growing at a CAGR of 2.9% throughout the conjecture period (2020-2025).
Dried peas have been around for thousands of years. Depending on the variety, dried peas begin to flower after reaching a specific number of nodes (that is, part of the plant stem that has a leaf). The flowers are generally white, with the exception of Austrian winter peas, which are reddish-purple in color, and flowering normally occurs 2 to 4 weeks after germination, depending on variety and climate. Flowering continues until drought or nitrogen deficiency ends. Dried pea varieties are distinguished by fixed or indeterminate flowering. Dried peas grow best when planted in a seedbed with minimal soil surface residue. Good soil contact with the seed is also important; therefore, firm and well-cared nurseries tend to be favored. These characteristics of the soil environment can have an impact on the percentage of seedlings that emerge. Seed and soil pathogens can have a major effect on emergence. If uneven pigmentation is evident in a given batch of seeds from a single-stage crop, it may be due to the different maturity of the seeds.
Recent Developments in the Global Dried Peas Market
- In August 2020, The United States Department of Agriculture (USDA) announced plans to purchase edible dried beans, peas, and lentils for distribution to various food nutrition assistance programs. Purchases will be made under article 32 of the law of August 24, 1935, with the aim of encouraging the continuation of internal consumption of these products by diverting them from the normal circuits of commerce and trade.
- In December 2019, during a hearing with the Subcommittee on National Agriculture and the Subcommittee on Foreign Agriculture on the implementation of the food aid provisions in the 2018 Farm Bill, Peterson asked why USAID was reducing procurement while demand in recipient countries had not diminished.
- In September 2018, Roquette, a renowned company in plant-based ingredients, confirmed the purchase of a plant specializing in the extrusion of plant-based proteins. With this acquisition, the group wants to expand its range of high-end textured vegetable ingredients for the global meat substitute market.
Market Drivers and Restraints:
There is a huge spike in demand for pea protein powder in the last few years. To meet this demand, manufacturers in the dried pea market are launching products that can be incorporated into ready-to-drink beverages, baked goods, and dairy products. For example, global food giant Cargill has announced the launch of its versatile Radipure pea protein powder, which is made from non-GMO dried peas. The increasing number of patients with cardiovascular disease (CVD) worldwide is considered a critical aspect in the development of the global dried peas market. Beans, peas, and legumes are the unsung champions of plant-based diets and are beneficial in reducing the risk of cardiovascular disease in people. There is a growing awareness of the health risks associated with red meat. Thus, manufacturers in the dried pea market are taking advantage of this trend to innovate in protein products that serve as meat substitutes. Food startups are taking advantage of business opportunities due to the growing demand for herbal products. Manufacturers adopt different techniques such as roasting dried peas to enhance their flavor. Companies in the dried peas market are expanding their presence in the burgeoning Asian market. It is a phenomenon on the rise, as consumers demand plant-based, healthy, and highly nutritious foods. In order to bolster their credibility in the global market for dried peas, manufacturers are using low allergy and protein legumes to produce pea protein powders. These powders are gaining popularity because they function as highly adaptable ingredients. However, the F&B industry is expected to face serious challenges, with most companies affected by manufacturing, demand issues, and supply chain disruptions, especially in Asia. The prices of raw materials and finished products have increased due to the shortage of products. It affects both production and sales. It is analyzed that if this situation persists, companies will have difficulties in the near future to continue with their activities unless assistance is provided by the regulatory authorities.
Market Segmentation Overview:
The global Dried Peas Market can be segmented based on Nature, Application, and Sales Channel. On the basis of Nature, the market is segmented into Conventional and Organic. On the basis of Product Type, the market is divided into Yellow Peas and Green Peas. On the basis of Application, the market is separated as Household/Retail, Foodservice/HoReCa, Animal Feed, Pharmaceuticals & Supplements, Cosmetics, and Personal Care, and Food and Beverage Processing. Depending on the sales channel, the worldwide market can be bifurcated as Direct Sales and Indirect Sales.
Impact of COVID-19 on Dried Peas Market
Buying and storing food and other essential items has been difficult during the coronavirus pandemic. This has increased sales of non-perishable items such as dried peas and canned beans. Due to the increasing number of coronavirus cases in Europe, companies in the dried pea market are seizing additional opportunities in the region. Also, many people still prefer to limit their trips to the grocery store. This trend is expected to increase the use of non-perishable products such as dried peas and beans. Due to the COVID-19 situation, retail stores have increased door-to-door deliveries with the help of their websites and applications to meet the need of consumers, supporting the dried pea products business. Therefore, companies in the dried pea market are taking advantage of opportunities through e-commerce, as people spend much of their time shopping online. Furthermore, the food and beverage sector has held up relatively well as it is less exposed to a short-term contraction in consumer spending.
Geographical Classification:
The global Dried Peas market has been categorized by geography;
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Regional Insights:
Asia-Pacific accounts for almost 50% of the dried peas market. Consumer awareness of healthy diets and micronutrient consumption is increasing the demand for dried peas in the region. Dry peas may be put through a splitting process and the split peas are then used in the popular North American dish, split pea soup. In many Asian countries, whole peas are roasted, salted, and consumed as snacks. In parts of the Mediterranean, they are added to meat and potatoes to make a hearty stew. Dry yellow split peas are used in the UK to make the traditional Pease pudding or porridge, while dried, rehydrated, and mashed marrowfat peas, known in England as “mushy peas,” are a common accompaniment to fish and chips and meat pie.
Leading Company
Goya Foods, Inc. had the largest share of the Dried Peas Market in terms of sales and revenue in 2020.
Key Players Covered in the market report are:
Major players in the Dry Peas Market include Vestkorn Milling AS, The Scoular Company, Goya Foods, Inc., Ingredion Inc., AM Nutrition, Herba Ingredients, Cosucra Groupe Warcoing S.A., Roquette Frères, Dakota Dry Bean, Premier Foods plc, AGT Food and Ingredients, Meelunie BV., L.H. Hayward and Company and among others.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Dried Peas Market, By Product Type
6.1.1 Yellow Peas
6.1.2 Green Peas
6.1.3 Market Size Estimations & Forecasts (2021-2026)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Dried Peas Market, By Application
6.2.1 Household/Retail
6.2.2 Foodservice/HoReCa
6.2.3 Animal Feed
6.2.4 Pharmaceuticals & Supplements
6.2.5 Cosmetics and Personal Care
6.2.6 Food and Beverage Processing
6.2.7 Market Size Estimations & Forecasts (2021-2026)
6.2.8 Y-o-Y Growth Rate Analysis
6.2.9 Market Attractiveness Index
6.3 Dried Peas Market, By Nature
6.3.1 Conventional
6.3.2 Organic
6.3.3 Market Size Estimations & Forecasts (2021-2026)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
6.4 Dried Peas Market, By Sales Channel
6.4.1 Direct Sales
6.4.2 Indirect Sales
6.4.3 Market Size Estimations & Forecasts (2021-2026)
6.4.4 Y-o-Y Growth Rate Analysis
6.4.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America – Market Analysis (2018 – 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Product Type
7.2.3 By Application
7.2.4 By Nature
7.2.5 By Sales Channel
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Product Type
7.3.3 By Application
7.3.4 By Nature
7.3.5 By Sales Channel
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Product Type
7.4.3 By Application
7.4.4 By Nature
7.4.5 By Sales Channel
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Product Type
7.5.3 By Application
7.5.4 By Nature
7.5.5 By Sales Channel
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Product Type
7.6.3 By Application
7.6.4 By Nature
7.6.5 By Sales Channel
8. Key Player Analysis
8.1 Goya Foods, Inc.
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Vestkorn Milling AS
8.3 The Scoular Company
8.4 Ingredion Inc
8.5 AM Nutrition
8.6 Herba Ingredients
8.7 Cosucra Groupe Warcoing S.A
8.8 Roquette Frères
8.9 Premier Foods plc
8.10 AGT Food and Ingredients
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
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