New Zealand markets closed
  • NZX 50

    12,550.39
    +32.38 (+0.26%)
     
  • NZD/USD

    0.7130
    -0.0070 (-0.98%)
     
  • NZD/EUR

    0.5881
    -0.0027 (-0.46%)
     
  • ALL ORDS

    7,577.20
    +18.40 (+0.24%)
     
  • ASX 200

    7,312.30
    +9.80 (+0.13%)
     
  • OIL

    70.78
    +0.49 (+0.70%)
     
  • GOLD

    1,879.50
    -16.90 (-0.89%)
     
  • NASDAQ

    13,998.30
    +37.95 (+0.27%)
     
  • FTSE

    7,134.06
    +45.88 (+0.65%)
     
  • Dow Jones

    34,479.60
    +13.36 (+0.04%)
     
  • DAX

    15,693.27
    +122.05 (+0.78%)
     
  • Hang Seng

    28,842.13
    +103.25 (+0.36%)
     
  • NIKKEI 225

    28,948.73
    -9.83 (-0.03%)
     
  • NZD/JPY

    78.1530
    -0.5300 (-0.67%)
     

Global Pea Milk Market (2021 to 2027) - by Flavor, Packaging Type, Distribution Channel and Region - ResearchAndMarkets.com

·4-min read

The "Pea Milk Market by Flavor, Packaging Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.

Dried peas or yellow peas are harder legume. Dried peas belong to the same family as beans and lentils but they are usually known as a separate group due to the ways in which they are prepared. Dried peas are generally produced by harvesting the peapods when they are fully mature and subsequently drying them. Once they are dried and the skins removed, they split naturally. Dried yellow peas are high in protein, exhibit low allergenic property, and are clean label.

In the dairy industry, pea milk is one of the recent innovations wherein manufacturers are seeking for inexpensive solution to meet the growing demand for protein across the globe. Pea milk is extracted from yellow peas, and it constitutes the same amount of protein as delivered by cow milk and a lot more than that present in almond milk. The milk that is extracted from peas is cost-effective, offers original taste, and does not deliver strong flavor as other plant-based milk available in the market.

The growth of the global pea milk market is attributed to increase in number of vegan & diet-conscious consumers across the globe. Furthermore, rise in issues of lactose intolerance fuels the demand for dairy-free or vegan food products. In addition, pea milk has been witnessing increased popularity in mature and emerging markets, owing to rise in number of people allergic to dairy products. Moreover, increase in health awareness and surge in disposable income have supplemented the pea milk market growth. Introduction of additional healthy ingredients by different market players further augments the growth of the market. However, fluctuation in prices of raw materials and high cost of plant-based milk extraction act as the major restraints of the global market. On the contrary, upsurge in demand for dairy-free products by vegan population and introduction of new flavors & varieties of pea milk are anticipated to provide potential opportunities for the expansion of the global pea milk market. Furthermore, rise in acceptance of pea milk among consumers is anticipated to notably contribute toward the growth of the market during the forecast period.

The global pea milk market is segmented into flavor, packaging type, distribution channel, and region. On the basis of flavor, it is classified into original, unsweetened, vanilla, and chocolate. Depending on packaging type, it is segregated into bottles, and aseptic cartons. In terms of distribution channel, it is fragmented into retail stores, supermarkets/hypermarkets, E-commerce, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The players in the market have adopted product launch, acquisition, and collaboration as their key development strategies to increase profitability and strengthen their foothold in the competitive pea milk market. The key players profiled in the report include Sproud, Ripple Foods, Snappea Foods, Devon Garden Foods, Qwrkee, Freedom Foods, Vly Foods, Nestle SA, The Mighty Society, and DrinkStar.

Key Benefits

  • The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019-2027.

  • Porter's five forces analysis highlights the potency of the buyers and supplier's tenable stakeholder's make profit-oriented business decisions and strengthen their supplier-buyer network.

  • In-depth analysis of the size and segmentation assist to determine the prevailing market opportunities.

  • The major countries in each region are mapped according their revenue contribution the industry.

  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the pea milk industry.

Market Dynamics

Drivers

  • Rise in Demand for Plant-Based Milk

  • Increase in Disposable Income

  • Growth in Vegan Population

Restraint

  • High Price of Plant-Based Products

Opportunity

  • Increase in Number of Consumers Allergic to Dairy Products

Companies Profiled

  • Sproud International Ab

  • Ripple Foods Pbc.

  • Snappea Foods

  • Devon Garden Food Limited

  • Qwrkee Foods Ltd

  • Freedom Foods Group Limited

  • Nestle S. A.

  • the Mighty Society

  • Symrise Ag

  • Vf Nutrition GmbH

For more information about this report visit https://www.researchandmarkets.com/r/6prf1v

View source version on businesswire.com: https://www.businesswire.com/news/home/20210512005627/en/

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900