The global pea milk market is poised to reach a value of USD 128.5 Million by 2024 and is projected to reach a value of USD 345.5 Million by 2034, reflecting a compound annual growth rate of 10.4% over the assessment period 2024 to 2034.
The global industry which focuses on a pea-based milk production has emerged rapidly as the plant-base diet trend increases. Evidently, to gain competitive advantages and increase market shares, firms are investing in new capacities and developing new products. Some companies are taking advantage of the growing vegan and environmentally friendly movement to sell pea milk as a better substitute for traditional dairy products and other plant-based milk producers.
As the consciousness regarding sustainability increases more companies point out the relatively lower environmental cost of peas compared to the production of plant-based milk such as almond or soy. Together with the significant nutritional content of milk produced from peas the latter can successfully take a greater share of the expanding circle of consumers.
The following is one of the leading reasons why there is enhanced consumption of this other type of milk; veganism and plant based diets. With consumers progressively turning vegan or flexitarian, they require milk products that are healthy and free from dairy products.
Pea milk contains far more protein than many other dairy and plant-based milk products and is sometimes even comparable to dairy milk. In addition, its lack of allergens also makes it suitable for lactose intolerants or anyone with nut allergies. The product also contains vitamin and mineral nutrients like calcium and vitamin D like dairy milk plus has no cholesterol and low saturated fats.
In order to meet this demand, it has remained a trend for manufacturers to scale up production rates. Greenfield investments are being made and current production locations are incorporating enhanced production methods that give increased productivity and better quality products.
Also, because the market is highly sensitive to new and novel products, manufacturers are introducing flavoured products and developing new formulations like protein enriched products with attention from sport personalities, products that are rich in nutrients for children and many others.
| Attributes | Description |
|---|---|
| Estimated Global Industry Size (2024E) | USD 128.5 million |
| Projected Global Industry Value (2034F) | USD 345.5 million |
| Value-based CAGR (2024 to 2034) | 10.4% |
Consumer preferences are another factor that are contributing to the growth of the industry. It consumes far less water and produces much less CO2 than other crops used in plant based milks, which would be good news for those interested in the environmental impact of their food. Given the increase in the consumption of green products in the market, manufacturers place pea milk under sustainable food products to suit consumers’ moral compass while enjoying its positive impacts on human health.
In general, it could be stated that these valuable properties, the opportunities provided by increasing of the production capacities, and the tendencies towards growing of people’s plant-based diets are the main factors which today stimulate the growth of the industry.
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Skyrocketing sales of plant based alternatives leveraging the industry
Due to the rise in consciousness level, people are switching towards the vegetarian diet and plant-based products which has also boosted the demand for pea milk. This pea milk is unique from other plant-based milk like almond or soy milk and has high-protein content comparable to milk. This trend is occasioned by the fact that pea milk is naturally free from allergens such as lactose, soy and nuts.
The growth of veganism and a change in diets toward being more flexitarian have also increased this demand and placed pea milk as a functional dairy substitute. The market is witnessing product introduction and brand developments due to customer consciousness moving towards healthier more protein packed products in the plant based beverage sector. This trend is expected to continue as people are turning to pea milk because of its environmental impact as well as its improved nutritional value.
Pea Milk as a Substituting Source of Protein
Pea milk is currently being developed as one of the richest sources of protein in the plant-based milk category, including the protein content of cow’s milk. This makes it a product of choice for consumers who are conscious of the type of protein that they take, athletes, body builders, and other fitness and health conscious individuals coming from the various parts of the globe. To that we can add that with more popularity of protein-based diets, pea milk with all the complete amino acid set is quite a valuable addition to the diets aimed at the muscle tissue recovery and overall well-being.
Companies are positioning pea milk for the consumers to act as better sources of protein than animal products. This trend is not as prevalent in the sports nutrition market as the use of pea milk as a base, ingredients in protein shakes and meal replacements. Growing consumer trends toward high protein alternative and sustainable livestock products has brought popularity of pea-protein milk to the forefront.
Rising Allergen-Free Appeal by consumers elevating the innovation
Pea milk is a novel category of milks, it does not contain some of the most prevalent allergens that are found in alternatives such as almond, soy, and other milks. Since the number of people with food allergies and sensitivities continues to grow, the social trend towards products free from allergens is increasing. Pea milk meets the needs of various dietary restrictions as it does not contain the main proteins found in traditional milk, lactose, nuts or soy.
It is gradually being embraced by schools, hospitals and other public institutions where products free from allergens are very critical in meal preparation for learners and patients. This has made the pea milk useful for everyone in different families and every person who has such different diets as vegan, lactose-intolerant or diabetic. The fact that pea milk is utterly free from allergens makes it an ideal product in its current and emerging markets especially in areas where food safety and the inclusion of people with restricted diets is of paramount importance.
New Developments in Flavoured and Fortified Pea Milk
It has established that even as the pea milk market develops, challenges such as new flavoured and nutrient enrichment is arising. Consumers are not only in search of their regular milk substitutes but also are looking for products with more nutritional values and different tastes. Brands are trying to satisfy customers with new flavors including chocolate, vanilla and even coffee flavoured pea milk.
Pea milk fortified for improved nutritional quality is also beginning to be consumed as it contains added vitamins, minerals and omega 3 to give a nutritional backbone as it does the dairy milk. This is more so to families and health conscious people since the products are not just trend setting beverages to quench thirst.
This, through adding flavour and making pea milk have a fortified version, the companies behind them are gradually popularizing pea milk beyond the regular vegan and lactose intolerance markets. Pea milk firm is using this innovation to create a market different from other plant-based beverages producers that flooded the market.
Increase in Private Label Pea Milk Manufacturers
Newcomers to the pea milk market gain a foothold in the market and use promotions to challenge branded producers. Private labels in pea milk products are also coming to the market with supermarkets and retailers expanding into the sector due to increased demand for plant-based milk by consumers. This trend is increasing the portfolio of pea milk available into the market across all price segments hence reaching more consumers.
Food product private label brands also enable the retailer to diversify products and create brand preference among health conscious consumers. Private label pea milk is increasing competition and influencing the prices as the average consumer can afford pea milk. Such a trend also fits into the growth of popularity of private label plant-based products, as retailers strive to take advantage of the growing demand for dairy products’ substitutes while bearing the costs and controlling product strategies.
Growing in the Foodservice and Cafes division
The fuss around pea milk is that it is gradually finding its way into cafes, coffee shops, and other food services as a plant-based milk for drinks such as lattes, smoothies, or shakes. The surge of non-dairy milk in the foodservice segment will introduce more possibilities of pea milk as the substitute to almond, soy, or oat milk. Specialty coffee stakeholders like baristas have hailed pea milk mainly because it froths and mixes well with coffee, resulting in satisfying creaminess in specialty products.
In the process of finding new milk options in restaurants and cafes, including pea milk in its menu list is becoming more and more common. This trend is also predicted to remain steady since more foodservice establishments introduce vegan and lactose-free options for the increasing vegan, Latino, and health-sensitive customers.
During the period 2019 to 2023, the sales grew at a CAGR of 8.9%, and it is predicted to continue to grow at a CAGR of 10.4% during the forecast period of 2024 to 2034.
People who follows the vegan diets have been shown to possess higher levels of empathy towards animals than those who do not have any at all. As animal lovers, it is only natural for them to prefer diets that promote their general well-being. Nevertheless, this ambition often collides with philosophies promoting zero/low consumption of animal-based products. Often times referred to as “the vegetarian’s dilemma,” such ethical conflicts are common among those who maintain vegetarian diets themselves.
To address this moral confusion over whether or not one should feed meatless meals made from vegetables only canines, vegetarian and vegan diets have been introduced to the ecosystem for human food consumption. At times, it is about social influences such as culture or religion that may determine whether an individual would buy plant-based food for himself or herself. For instance, people who follow religions like Buddhism, Seventh Day Adventists and Hare Krishna are likely to avoid meat and/or other animal products thereby making this decision when purchasing food.
Health benefits persuade consumers into choosing plant based food. The increase in demand of organic and high quality constituents has resulted in the popularity of plant-based diets. Such diets can help minimize allergies, skin concerns, improve bad breath, and maintain weight. Pea milk continues growing with more adoptions of vegetarianism, which has led to increased consumption. The two most influential groups in this expansion are Gen Z, single person households and aging population.
Principal Consultant
Tier 1 companies comprise industry leaders with revenue of above USD 3 million capturing a significant share of 50% to 60% in the global business landscape. High production capacity and a wide product portfolio characterize these leaders. These leaders are distinguished by their extensive expertise in manufacturing and reconditioning across multiple packaging formats and a broad geographical reach, underpinned by a robust consumer base.
They provide a wide range of series including reconditioning, recycling, and manufacturing utilizing the latest technology and meeting the regulatory standards providing the highest quality. Prominent companies within tier 1 include Ripple Foods, Sproud, Bolthouse Farms, Snappea Foods, Qwrkee Foods Ltd, Devon Garden Foods, Nestle SA and few others.
Tier 2 companies include mid-size players with revenue of USD 1 to 3 million having a presence in specific regions and highly influencing the local commerce. These are characterized by a strong presence overseas and strong business knowledge. These players in the arena have good technology and ensure regulatory compliance but may not have advanced technology and wide global reach. Prominent companies in tier 2 include Freedom Foods, Mighty Pea, Drinkstar, Asia Pte Ltd, and others.
Tier 3 includes the majority of small-scale companies operating at the local presence and serving niche economies having revenue below USD 1 million. These companies are notably oriented towards fulfilling local demands and are consequently classified within the tier 3 share segment.
They are small-scale players and have limited geographical reach. Tier 3, within this context, is recognized as an unorganized ecosystem, denoting a sector characterized by a lack of extensive structure and formalization when compared to organized competitors.
The following table shows the estimated growth rates of the significant three geographies sales. USA and Germany are set to exhibit high consumption, recording CAGRs of 8.3% and 7.9%, respectively, through 2034.
| Countries | CAGR 2024 to 2034 |
|---|---|
| United States | 8.3% |
| Germany | 7.9% |
| Russia | 9.4% |
In the country, for instance, there is growing shifted towards adding pea-based milk in functional beverages. With beverage consumers especially those within the health-conscious group looking for beverages that offer more than hydration value, manufacturers are combining the pea-based milk with functional ingredients like probiotics, adaptogens, and plant-based proteins. Pea milk that is wealthy in protein and free of allergens that are well-known today is an ideal candidate for this category of functional beverages.
These functional drinks target the consumers who are in look for foods and beverages that has lot of boosted up energy a muscular rebuildment. Pea milk is used for protein shakes, meal replacement drinks, and energy drinks, new platforms for its growth. As the global trend on taking plant-based protein continues to rise for everyday foods and functional foods the USA remains a strategic market for pea-based milk for functional beverages.
Currently in Germany the culture of sustainability and conscious consumption has prompted the consumption of pea-based milk. The consumers in Germany are rather conscious about the ecological footprint of the food products and thus, the milk produced from peas, which takes fewer resources to manufacture than almond or soy milk.
As a direct result of the country’s focus on both sight reduction of carbon footprints as well as advocacy for plant-rich diets, pea-based milk has found its place in both the retail and foodservice settings. Further, the preference toward ‘local sourcing’ in Germany has been a factor towards advocating for more pea based products as peas are locally sustainable in Europe.
This is in line with the current trend in the consumers’ preferences for environmentally friendly products thus making pea based milk one of the firm’s strategic products in the environmentally friendly plant based beverage market.
In Russia, there is growing trend in using vegetables in foods thus the push for products with high protein content such as pea milk. Since now more and more Russians start their flexible diets or switch to vegan diet the need of tasty and at the same time protein meals is increasing. Soy milk is turning out to be popular because of its higher protein content as compared to other plant based milks like almond milk or rice milk.
The Russian consumer, especially in large cities, notes an opportunity to make a perfect choice of pea-based milk that can help conclude a diet without involving animal-based foods. Therefore, due to its nutritional value and ease of access, the product fits well within the trend of a plant based diet for the conscious and enthusiastic clients. This trend raises awareness about the consumption of pea-based milk as a functional, protein drink within Russia’s developing market for plant-based milk.
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| Segment | Chocolate (Flavour) |
|---|---|
| Value Share (2024) | 32.3% |
Chocolate flavoured pea based milk is more acceptable to consumers than traditional plant based milk because it conceals the earthy note that comes with plant based products. The participants pointed out that this means that manufacturers are already able, through the familiar and indulgent taste, to appeal to more people-children and those who do not use plant-based milk daily. It also creates a solution for customers with the desire for regular dairy chocolate milk while being high in protein and low in sugar.
It is also considered to be more suitable for consumers with lactose intolerance and allergies, who have switched from dairy products to healthier veganism. These gradually improving shelves provide an indication of the increasing consumer popularity of plant products that hold quality and taste and are satisfying to the palate and are a perfect guilt-free chocolate pea milk.
| Segment | HoReCa (End-User) |
|---|---|
| Value Share (2024) | 42.3% |
The growing network of cafés globally is greatly increasing the demand for pea-based milk in the market. More consumers are using plant-based milk in their coffee and tea products, thus cafes are introducing pea milk as an option to dairy. The milk derived from peas that boasts of a rich texture and has high protein content is slowly taking space on lattes, cappuccino, and smoothens. That it can foam well, just like dairy milk, makes it a favourite for baristas and consumers in equal measure.
This of course is not just helping to increase awareness of pea based milk but is also helping to grow market for the product by presenting it to a new audience. The increasing trend of cafés along with the rising interest in vegan and plant-based products is helping pepper milk to become standard with coffee shops and enhancing its acceptance all over the world.
The global business landscape of pea milk is about to gain a significant traction in the plant based milk industry as the target products are at introductory stage. Several companies are coming up with advertising campaigns and new marketing strategies of participating in the global food events to attracts and increase consumer base. These strategies are not only helping the key manufacturers to increase their market share but also for the overall revenue growth.
Companies are coming up with strategic and innovative products with the consumer attractive claims like “high protein”, “allergen free”, “plant based”. Attractive packaging strategies and the forefront mention of nutritional ingredients that are helping these manufacturers to meet the rising consumer demand and increase their revenue.
By flavor industry has been categorized into Original Flavored, Vanilla Flavored, Chocolate Flavored, Barista Flavored.
Two packaging types Tetra Packs and PET Bottles are included in the report.
By end user industry has been categorized into Individual Consumers, HoReCa, Gyms & Cafes.
Two sales channels Brick & Mortar Stores and Online Retail Channels are included in the report.
Industry analysis has been carried out in key countries of North America, Latin America, Europe, Middle East and Africa, East Asia, South Asia, and Oceania.
The market is expected to grow at a CAGR of 10.4% throughout the forecast period.
By 2034, the sales value is expected to be worth USD 345.5 million.
Increased product innovation and demand for new products with nutritional balance are expected to boost sales.
Europe is expected to dominate the global consumption.
Some of the key players in manufacturing include Ripple Foods, Sproud, Bolthouse Farms, Snappea Foods, Qwrkee Foods Ltd, Devon Garden Foods, Nestle SA, Freedom Foods, Mighty Pea, Drinkstar, Asia Pte Ltd and a few others.
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