Pea Milk Market

Pea Milk Market Outlook (2022 to 2032)

The global Pea Milk Market is expected to reach a market valuation of USD 105.4 Million by the year 2022, accelerating with a CAGR of 10.4% by 2022 to 2032. Pea milk market sales are likely to account for a part of the demand in the global plant-based milk market, valued at USD 14 Billion in 2022.

Attribute	Details
Pea Milk Market Size (2022E)	USD 105.4 Million
Pea Milk Market Projected Size (2032F)	USD 283.5 Million
Value CAGR (2022 to 2032)	10.4%
Top 3 Countries Marketing Share	34.7%

FMI analysis indicates that the segment of original flavor was the most significant category in 2022, but the segment of vanilla flavor is expected to maintain its dominance throughout the forecasted period. Vanilla, as a relatively inexpensive flavor, is widely consumed globally and is likely to see a switch in the pea milk market.

How Does Pea Milk Market Historic and Future Outlook Compare?

Pea milk is made from dry peas and comes in a variety of flavors including original, unsweetened, vanilla, and chocolate. The product's cream-like texture and healthy content than other plant-based milk are the primary reasons for consumer preference, which contributes to the growth of the pea milk market in the coming years.

The increase in the number of diet-conscious and vegan consumers around the world is driving the growth of the pea milk industry. Furthermore, the increased concern about lactose intolerance as a result of a lack of the intestinal enzyme lactase, which is fuelling the demand for vegan food and dairy-free products. Plant-based milk products are becoming more popular in both emerging and mature markets.

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People who are allergic to dairy products are increasing in number day by day. Furthermore, an increase in disposable income and health awareness have increased the size of the pea milk market. Furthermore, the introduction of new healthy ingredients by various market players contributes significantly to the growth of the pea milk market.

However, fluctuating raw material prices and the high cost of extraction and production of pea milk are major global market restraints. On the contrary, an increase in demand for dairy-free products by the vegan population, as well as the introduction of varieties and new flavors of pea milk, are expected to provide leveraging market opportunities.

Is the growing vegan population and lactose intolerance stimulating the consumption of pea milk?

Growing animal welfare concerns around the world are promoting meat eaters and animal product consumers to switch to plant-based and other naturally sourced product lines, including plant-based milk consumption.

According to the Vegan Society, only 5% of the world's domesticated animals live freely, while 95% of them survive in captivity under deplorable conditions. Recognizing this, consumers are avoiding animal-based products, increasing demand for pea milk.

Lactose intolerance has become more common in recent years, particularly in Europe, North America, and Asia. After infancy, approximately 65 percent of the human population has a reduced ability to digest lactose. However, the prevalence varies depending on where you live.

Pea milk is quickly gaining popularity as a dairy substitute. Pea milk is also a good option for people who are allergic to other plant-based products like pea, whey, almonds, or nuts.

Country-wise Insights

What are the chances of Pea Milk in the United States?

The market for pea milk in the United States is expected to grow rapidly, expanding at a CAGR of nearly 8.2% between 2022 and 2032. The US market is expected to have a market share of 60%.

According to a recent study, the number of Americans eating plant-based diets has increased by nearly 9.6 million in the last 15 years. This is a 300 percent increase and accounts for nearly 3% of the US population. As a result, pea milk is quickly disappearing from store shelves across the country.

How is the United Kingdom Creating Opportunities for Pea Milk Producers?

The United Kingdom is one of Europe's most promising markets for pea milk. An increasing proportion of the British population will switch to a vegan, vegetarian, or pescatarian diet by 2022.

At the start of 2020, approximately 1.1 million people followed a plant-based diet. One year later, the figure has risen to nearly 1.5 million people. This equates to a 40% increase in the vegan population. In addition, the Vegan Society reported a fourfold increase in vegans.

Category-wise Insights

Why will PET Bottles Make More Money?

PET bottles, which are primarily used in the packaging of drinking water and beverages, are becoming increasingly popular in the pea milk industry. The segment is expected to grow at a CAGR of 15.3% during the forecasted period.

PET bottles outlast glass bottles because they are clearer, lighter, non-reactive, cost-effective, and thermally stable. Furthermore, PET bottles are in high demand in the pea milk industry due to their environmental friendliness and ability to be recycled multiple times, lowering production costs.

Why are Pea Milk Tetra Packs being encouraged?

Tetra packs of pea milk are expected to account for 40% of global market demand over the next decade. Sales are being boosted by the high convenience attributed to its lightweight and durability.

Tetra pack pea milk is expected to grow rapidly due to its environmentally friendly, lightweight, and low-cost packaging. The tetra pack pea milk's rapid growth is also due to the product's extended shelf life under adverse environmental conditions, as well as its healthy and safe packaging.

Is vanilla flavor going to dominate the market by flavor?

Pea milk has an unpleasant taste and odor at first, so the extracted protein is decomposed and then fermented to improve the milk quality and texture. Vanilla flavor pea milk accounts for 65% of the entire revenue share for the pea milk market due to its sweet taste and soothing aroma. The vanilla flavor is becoming more popular in Europe and North America as there is a greater demand for aromatic foods and plant-based milk.

Competitive Landscape

Key pea milk manufacturers are emphasizing the penetration of mainstream retail markets by introducing a diverse range of product offerings. In addition, they are focusing on forming alliances with leading players as well as acquisitions.

• Wunda, a new pea-based beverage from Nestlé, is "epic in everything" that milk is used for. That is, it can be eaten plain, poured over cereal, mixed into hot beverages, frosted, cooked with, and so on.
• Sproud Original Drink is a plant-based milk that tastes like milk. It is as white as milk and contains no allergens, lactose, nuts, Pea, or genetically modified organisms. Furthermore, it is high in protein and has a very low sugar content. Ideal for a healthy diet.

Scope of the Report

Attribute	Details
Forecast Period	2022 to 2032
Historical Data Available for	2017 to 2022
Market Analysis	USD Million for Value and Million. Sq. M. for Volume
Key Regions Covered	North America; Latin America; Europe; East Asia; South Asia; and the Middle East & Africa
Key Countries Covered	US, Brazil, Mexico, Germany, UK., China, India, Japan, Australia, and GCC Countries
Key Segments Covered	Flavor, Packaging Material, End User, Sales Channel, Region
Key Companies Profiled	Ripple Foods; Sproud; Bolthouse Farms; Snappea Foods; Qwrkee Foods Ltd; Devon Garden Foods; VLY Foods; Nestle SA; Freedom Foods; Mighty Pea; Drinkstar; Asia Pte Ltd
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing	Available upon Request

Pea Milk Market by Category

By Flavor:

• Original Flavored Pea Milk
• Vanilla Flavored Pea Milk
• Chocolate Flavored Pea Milk
• Barista Flavored Pea Milk

By Packaging Material:

• Tetra Packs
• PET Bottles

By End-User:

• Individual Consumers
• HoReCa
• Gyms & Cafes

By Sales Channel:

• Brick & Mortar Stores
• Online Retail Channels

By Region:

• North America
• Latin America
• Europe
• Middle east and Africa
• East Asia
• South Asia
• Oceania

Frequently Asked Questions

At what rate will the Pea Milk Market grow?

Throughout the forecast period, the Pea Milk Market is expected to grow at a CAGR of 10.4%.

What is the expected value of the Pea Milk Market by 2032?

By 2032, the Pea Milk Market is expected to be worth USD 283.5 Million.

What are the key factors driving the Pea Milk Market?

Demand for non-dairy or plant-based cereal milk, growing vegan diet practice, and low-cost availability.

Which region adds to the highest Pea Milk Market Valuation?

The North American region is one of the most important consumers and has the largest market share.

What are the key strategies adopted by the major players of the Pea Milk Market?

Major market players use strategies such as introducing new products and improving them, as well as investing in research and development.

Who are the key players in the 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.