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Dried Peas Market Size, Share, Industry Trends and Forecast to 2033

This report provides a comprehensive analysis of the dried peas market, covering market size, segmentation, industry trends, and regional insights. The forecast period spans from 2023 to 2033, highlighting growth opportunities and challenges within the sector.

Metric Value
Study Period 2023 - 2033
2023 Market Size $1.10 Billion
CAGR (2023-2033) 4.8%
2033 Market Size $1.77 Billion
Top Companies Hurst's Foods, Truco Enterprises, The Green Pea Company, Pacific Pea Company
Last Modified Date 15 Nov 2024

Dried Peas Market Report (2023 - 2033)

Dried Peas Market Overview

The dried peas industry encompasses various stakeholders, including farmers, processors, distributors, and retailers. The supply chain is increasingly focusing on sustainable practices, with organic farming gaining momentum. Technological advancements in drying and storage methods also contribute to improved product quality and shelf life. Furthermore, the industry is gradually adapting to consumer preferences, emphasizing product transparency and quality, which drives innovation in product offerings. The backdrop of changing global dietary patterns favors plant-based proteins, positioning dried peas as strategic ingredients in health-centric food products.

What is the Market Size & CAGR of Dried Peas market in 2023?

As of 2023, the global dried peas market is valued at approximately $1.38 billion, with projections suggesting a CAGR of around 5.4% from 2023 to 2033. Factors contributing to this growth include a rising population, increased interest in plant-based proteins, and the expansion of the food processing industry, which leverages dried peas in various culinary applications.

Dried Peas Industry Analysis

The dried peas industry encompasses various stakeholders, including farmers, processors, distributors, and retailers. The supply chain is increasingly focusing on sustainable practices, with organic farming gaining momentum. Technological advancements in drying and storage methods also contribute to improved product quality and shelf life. Furthermore, the industry is gradually adapting to consumer preferences, emphasizing product transparency and quality, which drives innovation in product offerings. The backdrop of changing global dietary patterns favors plant-based proteins, positioning dried peas as strategic ingredients in health-centric food products.

Dried Peas Market Segmentation and Scope

The dried peas market is primarily segmented by variety, processing method, application, and distribution channel. Key varieties include green peas, yellow peas, and organic peas, which cater to different consumer demands. Processing methods involve whole and split peas, while applications cover food, animal feed, and cosmetics. Distribution channels encompass online and offline retail, with online sales gaining significant traction due to changing shopping behaviors. This segmentation allows for targeted marketing strategies, catering to diverse consumer needs and market opportunities.

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Dried Peas Market Analysis Report by Region

Europe Dried Peas Market Report:

Europe remains a key player in the dried peas sector, with market growth anticipated from $0.38 billion in 2023 to $0.61 billion in 2033. The European Union's focus on sustainable agriculture and healthy diets amongst consumers is fueling demand, presenting numerous opportunities for producers and suppliers.

Asia Pacific Dried Peas Market Report:

The Dried Peas market in Asia Pacific is expected to grow from $0.21 billion in 2023 to $0.33 billion by 2033, driven by increasing demand for plant-based protein sources and rising health consciousness among consumers in countries like India and China. The region is also witnessing growth in the food processing sector, enhancing the usage of dried peas in various food products.

North America Dried Peas Market Report:

The North American market for dried peas is forecasted to increase from $0.37 billion in 2023 to $0.59 billion by 2033, largely due to the rising trend of vegan and vegetarian diets and an increasing focus on protein diversification. The US and Canada are leading this trend, with a growing number of companies innovating with dried pea products.

South America Dried Peas Market Report:

In South America, the dried peas market is projected to rise from $0.07 billion in 2023 to $0.11 billion in 2033. The growth in this region can be attributed to expanding agricultural capabilities and a shift toward healthier eating habits, encouraging higher consumption of legumes and pulses.

Middle East & Africa Dried Peas Market Report:

In the Middle East and Africa, the dried peas market is projected to grow from $0.08 billion in 2023 to $0.13 billion by 2033. The region's growing population and increasing awareness regarding nutrition are contributing factors to the rising consumption of dried peas, with potential growth in value-added products.

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Dried Peas Market Analysis By Variety

Global Dried Peas Market, By Variety Market Analysis (2023 - 2033)

The market for dried peas is largely driven by the variety segment, with green peas leading the market at $0.72 billion in 2023, projected to reach $1.16 billion by 2033, holding a share of 65.4% throughout the decade. Yellow peas follow with a size of $0.26 billion growing to $0.42 billion, while organic peas are also gaining traction, expected to grow from $0.12 billion to $0.19 billion.

Dried Peas Market Analysis By Processing Method

Global Dried Peas Market, By Processing Method Market Analysis (2023 - 2033)

The processing method segment highlights the dominance of whole dried peas, being valued at $0.94 billion in 2023 and projected to reach $1.52 billion by 2033, representing a significant 85.38% market share. Split dried peas, although smaller, are growing steadily, expected to increase from $0.16 billion to $0.26 billion.

Dried Peas Market Analysis By Application

Global Dried Peas Market, By Application Market Analysis (2023 - 2033)

The applications of dried peas are predominantly in the food industry with a market size of $0.72 billion in 2023, expected to rise to $1.16 billion by 2033 (65.4% share). The animal feed segment accounts for $0.26 billion, projected to reach $0.42 billion, evidencing the versatility of dried peas across sectors.

Dried Peas Market Analysis By Distribution Channel

Global Dried Peas Market, By Distribution Channel Market Analysis (2023 - 2033)

The distribution channels reveal a strong preference for online retail, which commands a significant portion of the market with $0.94 billion in 2023 and projected growth to $1.52 billion by 2033. Offline retail continues to serve the market effectively, although its share is smaller.

Dried Peas Market Analysis By Region

Global Dried Peas Market, By Region Market Analysis (2023 - 2033)

Regional analysis confirms that markets in North America and Europe are leading in volume and value due to higher consumption rates and established supply chains. In contrast, markets in Asia Pacific and the Middle East are witnessing rapid growth due to surging demand for plant-based proteins, highlighting geographic differences in consumer preferences and market dynamics.

Dried Peas Market Trends and Future Forecast

The dried peas market is set for a promising future with expected growth fueled by increasing general health consciousness, the shift toward plant-based diets, and product innovations. By 2033, we can anticipate not only higher demand but also the introduction of new product lines that include pea proteins and snacks targeting health-focused consumers. Challenges may include fluctuations in raw material supply and competition from other protein sources, which could influence pricing and availability.

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Global Market Leaders and Top Companies in Dried Peas Industry

Hurst's Foods:

Hurst's Foods specializes in pulse-based food products, including dried peas, focusing on sustainable farming practices and innovation in product development.

Truco Enterprises:

Truco Enterprises is engaged in the supply of dried peas globally, emphasizing quality and consistency in product offerings for both the food service and retail sectors.

The Green Pea Company:

This company is known for its extensive product range of dried peas and is committed to high standards in agricultural practices and ethical sourcing.

Pacific Pea Company:

Pacific Pea Company focuses on organic and non-GMO dried pea products, tapping into the health-conscious market to provide nutritious options.

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