Pea Flakes Market: Current Analysis and Forecast (2024-2032)
Emphasis on Type (Green Pea, Yellow Pea); Application (Animal Feed, Food Processing, Other Application); Distribution Channel (Supermarkets, Online Stores, Other Channels); and Region/Country
Pea Flakes Market Size & Forecast
The Pea Flakes Market was valued at approximately USD 1.92 billion in 2023 and is expected to grow at a substantial CAGR of around 7.6% during the forecast period (2024-2032) owing to the increasing health consciousness among individuals and rising awareness about the nutritional content of food.
Pea Flakes Market Analysis
Pea flakes are a nutritious food made from yellow and green peas, which are made by husking and flaying their layers, later by flattening and drying it. They are proteinaceous, fibrous, vitamin, and mineral making them the buyer’s choice. They are used as a chewable for the animals and as the food processing ingredient for the soups, stews, and snacks. Nowadays they have gained immense popularity among their consumers due to their health consciousness and plant-based sources. The growing demand for natural, eco-friendly, and vegan products has outstandingly contributed to the growth of the pea flakes market.
The ongoing research and developments in the pea flakes processing technology through enhancements of new features have tremendously grown the market. For instance, in December 2021, Finnish food technology company Gold & Green Foods launched protein granules and protein flakes made from oat bran, pea, and fava bean protein. The plant-based ingredients have a neutral flavor profile and texture that can be manipulated to adapt to various applications, according to the company. They are a good source of protein and contain fiber, potassium, and iron.
Pea Flakes Market Trends
This section discusses the key market trends influencing the various segments of the pea flakes market as identified by our research experts.
Expansion of snack industry Transforming Pea Flakes Industry
The snack industry is outstandingly changing the pea flakes industry by incorporating innumerable snack products. These pea flakes possess high protein and fiber content, which are used as the raw material in many ready-to-eat products such as soups, bars, granules, chips, etc. Pea flakes can be seen as the best alternative and an emerging snack who wish to buy a plant-based and clean-label snack. Moreover, it focuses on sustainable sourcing and minimal processing, with no further additives or chemical content. Pea-flakes with high nutrition perfectly cogent with the buyer’s consumption mindset.
North America leads the market in 2023.
North America had a significant share of the market in 2023 because of the high consumer demand for plant-based proteins and a strong focus on health and sustainability. The region has a well-established food industry owing to its innovative research and developments. The high-quality and durable pea flakes are boosting the growth of the market. Moreover, the presence of strong distribution networks via retail shops and superstores makes the availability and sale of pea flakes accessible and affordable to its customers in the North American region.
Major agro-based companies and organizations in North America are now using pea flakes in their food and snacks.
The need for healthy, vegan, and nutritious food products has further expanded this market. With the growing older population, consumers are now more reliant on vegan and easily digestible fibers, which pea flakes offer to its consumers. Moreover, COVID-19 has strongly boosted the pea flakes market’s growth. Furthermore, the compliance standards, and food certifications of North America along with the health concerns have influenced North America’s leadership in the consumption of Pea Flakes products.
Pea Flakes Industry Competitive Landscape
The pea flakes market is competitive, with several global and international players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions.
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Some of the major players operating in the market are Garden Valley Foods, Sotexpro (Gemef Industries), Kessler Zoologiegroßhandel GmbH & Co. KG, Exotic Nutrition Pet Supply, Inland Empire Foods Inc., Wheeeky Pets, Mealberry, Novofarina, OM Foods Inc., Small Pet Select U.S.
Pea Flakes Market News
In June 2024: Lovingly Made Flour Mills, TMRW Foods, and Dutton Farms announced to combine their expertise to add value to Canadian pea and fava crops.
Pea Flakes Market Report Coverage
Report Attribute | Details |
Base year | 2023 |
Forecast period | 2024-2032 |
Growth momentum | Accelerate at a CAGR of 7.6% |
Market size 2023 | USD 1.92 billion |
Regional analysis | North America, Europe, Asia-Pacific, Rest of the World |
Major contributing region | Asia-Pacific is expected to grow at the highest CAGR during the forecasted period. |
Key countries covered | U.S., Canada, Germany, France, UK, Spain, Italy, China, Japan, and India |
Companies profiled | Garden Valley Foods, Sotexpro (Gemef Industries), Kessler Zoologiegroßhandel GmbH & Co. KG, Exotic Nutrition Pet Supply, Inland Empire Foods Inc., Wheeeky Pets, Mealberry, Novofarina, OM Foods Inc., Small Pet Select U.S. |
Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
Segments Covered | By Type, By Application, By Distribution Channel, By Region/Country |
Reasons to buy this report:
The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
The report presents a quick review of overall industry performance at one glance.
The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
The study comprehensively covers the market across different segments.
Deep dive regional level analysis of the industry.
Customization Options:
The global Pea Flakes market can be customized further as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Pea Flakes Market Analysis (2022-2032)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global pea flakes market were the three major steps undertaken to create and analyze the adoption of pea flakes in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global pea flakes market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the pea flakes market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the pea flakes market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, application, distribution channel, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the pea flakes market. Further, we conducted factor analysis using dependent and independent variables such as type, application, distribution channel, and regions of the pea flakes market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the pea flakes market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global pea flakes market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
The industry’s market size, in terms of revenue (USD) and the adoption rate of the pea flakes market across the major markets domestically
All percentage shares, splits, and breakdowns of market segments and sub-segments
Key players in the global pea flakes market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global pea flakes market. Data was split into several segments and sub-segments after studying various parameters and trends in the type, application, distribution Channel, and regions of the global pea flakes market.
The main objective of the Global Pea Flakes Market Study
The current & future market trends of the global pea flakes market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Analyze the current and forecast market size of the pea flakes market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
Segments in the study include areas of the type, application, distribution channel, and regions.
Define and analyze the regulatory framework for the pea flakes
Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
Analyze the current and forecast market size of the pea flakes market for the major region.
Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
Company profiles of the pea flakes market and the growth strategies adopted by the market players to sustain the fast-growing market.
Deep dive regional level analysis of the industry.
Frequently Asked Questions FAQs
Q1: What is the Pea Flakes market's current size and growth potential?
The Pea Flakes market was valued at USD 1.92 billion in 2023 and is expected to grow at a CAGR of 7.6% during the forecast period (2024-2032).
Q2: What are the driving factors for the growth of the Pea Flakes market?
Q3: Which segment has the largest share of the Pea Flakes market by application?
The Food processing segment has the largest share of the pea flakes market by application.
Q4: What are the major trends in the Pea Flakes market?
The Expansion of the snack industry is the major trend in the pea flakes market.
Q5: Which region will dominate the Pea Flakes market?
North America is expected to dominate the market in 2023.
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