Categories: Food & Beverages

Dried Peas Market | Size, Share, Growth | 2023–2028

The Dried Peas Global Market Report 2023 by The Business Research Company, provides dried peas market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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https://www.thebusinessresearchcompany.com/report/dried-peas-global-market-report

According to The Business Research Company’s Dried Peas Global Market Report 2023, the market size is expected to grow from $4.79 billion in 2022 to $5.22 billion in 2023 at a compound annual growth rate (CAGR) of 9.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global dried peas is expected to grow to $6.62 billion in 2027 at a CAGR of 6.1%.

The increasing number of individuals preferring a healthy lifestyle is expected to propel the growth of the dried peas market in the coming years. A healthy lifestyle in people nowadays helps fight illness, focuses on a strong immune system to prevent fight infections, and more energy. In recent years, people have been taking care of their health and hence a lot of them are shifting towards a vegetarian diet as it would lead to lower blood pressure, and improved cholesterol levels, which reduces the chance of a heart attack and stroke.

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The dried peas market is segmented:

1) By Product Type: Yellow Peas, Green Peas

2) By Nature: Conventional, Organic

3) By Application: Household Or Retail, Foodservice Or HoReCa, Animal Feed, Pharmaceuticals And Supplements, Cosmetics And Personal Care, Food And Beverage Processing

Dried peas companies are increasingly offering pea protein-based powder which can be incorporated in ready-to-drink beverages, baked goods, and dairy foods. Pea protein has a higher concentration of protein and a well-balanced profile of amino acids and can be used as a substitute for egg protein in products such as mayonnaise and as an alternative to soy and wheat gluten. For instance, in September 2022, Tata Consumer Product (TCP), an India-based consumer products company including food and beverages, launched Tata GoFit. Tata GoFit plant protein powder is plant-based, devoid of soy, lactose, and added sugar, and contains ingredients like peas and brown in rice ready-to-mix formula with added probiotics to enhance gut health.

The dried peas market report table of contents includes: