Global Pea Flakes Market Size To Exceed USD 5.51 Billion By 2033 | CAGR of 10.45%
Category: Food & BeveragesGlobal Pea Flakes Market Size To Exceed USD 5.51 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Pea Flakes Market Size is Expected to Grow from USD 2.04 Billion in 2023 to USD 5.51 Billion By 2033, at a CAGR of 10.45% during the Forecast period 2023-2033.
Get more details on this report -
Browse key industry insights spread across 230 pages with 115 Market data tables and figures & charts from the report on the "Global Pea Flakes Market Size, Share, and COVID-19 Impact Analysis By Type (Yellow, and Green), By Application (Food Processing, Animal Feed, Aqua Feed, Households/Retail, and Others), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online Retail Platforms, Convenience Stores, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/pea-flakes-market
The pea flakes product market refers to a healthy food item composed of crushed and flatted peas, making them easier to digest. Pea flakes contain lysine, essential minerals, amino acids, and dietary fiber. They are utilized in food processing, animal feed, as well as supplementary snacks. The fast expansion of the snack food industry, driven by hectic lifestyles and convenience consumption patterns, offers a huge opportunity for pea flakes to be used in a range of snack foods. Additionally, ongoing innovation in taste, formulation, and packaging formats by companies is propelling market growth, meeting varied consumer tastes, and increasing the use of pea flakes in various food items. Furthermore, there is a potential for pea flake producers to expand into emerging markets with increased demand for sustainable and healthy food choices. Moreover, the Environmental Protection Agency's Energy Star program establishes minimum energy efficiency requirements for the food production processes, such as those involved in the production of pea flakes. The program further offers incentives and rebates to motivate manufacturers to employ more energy-efficient equipment and processes. However, the pea flakes market is challenged by other vegetable protein sources, including soy, lentils, and chickpeas. These products can be used by consumers in place of pea flakes, depending on taste, access, or health benefits, and thus challenge the market position of pea flakes.
The yellow segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the type, the global pea flakes market is divided into yellow and green. Among these, the yellow segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is driven by the higher protein contents of the product, the large amount of fiber offered, and the increasing demand for plant-based foods by urban consumers are likely to add growth to this segment.
The food processing segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the application, the global pea flakes market is categorized into food processing, animal feed, aqua feed, households/retail, and others. Among these, the food processing segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth is due to flakes being commonly used as ingredients in food processing operations, such as soups, snacks, bakery products, and meat alternatives.
The supermarket/hypermarket segment held the largest share of the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on distribution channels, the pea flakes product market is segmented into supermarket/hypermarket, specialty stores, online retail platforms, convenience stores, and others. Among these, the supermarket/hypermarket segment held the largest share of the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to increasing availability from hypermarkets/supermarkets, rising demand by urban pet owners, and ease of access. Effective distribution through hypermarkets/supermarkets is preferred by brands as it boosts brand visibility.
North America is expected to hold the majority share of the global pea flakes market during the forecast period.
Get more details on this report -
North America is expected to hold the majority share of the global pea flakes market during the forecast period. North America dominates the market because pea flakes are known to be used in controlling health ailments like high blood pressure and obesity and, thus are a sought-after product among health-conscious consumers. Increasing knowledge of plant-based diets and their nutritional benefits further drives demand in this market
Europe is anticipated to grow at the fastest pace in the global pea flakes market during the forecast period. Europe is rapidly growing due to rising awareness of the benefits involved with the product, rising usage by pet owners, and increased usage in soups, sauces, dips, and other foods.
Major vendors in the global pea flakes market are B P Milling Ltd., Garden Valley Foods, GEMEF INDUSTRIES (SOTEXPRO), JR Farm, Exotic Nutrition Pet Supply, Inland Empire Foods Inc., Wheeeky Pets, Kessler Zoologiegroßhandel GmbH & Co. KG, Mealberry, True Nutrition, SOTEXPRO (France), and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Devlopment
- In November 2024, Origin Nutrition launched high-protein popped pes chips to target indian healthy snacking market
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the pea flakes market based on the below-mentioned segments:
Global Pea Flakes Market, By Type
- Yellow
- Green
Global Pea Flakes Market, By Application
- Food Processing
- Animal Feed
- Aqua Feed
- Households/Retail
- Others
Global Pea Flakes Market, By Distribution Channels
- Supermarkets/Hypermarkets
- Specialty Stores
- Online Retail Platforms
- Convenience Stores
- Others
Global Pea Flakes Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Need help to buy this report?