Pea Milk Market Size, Trend, Business Opportunities, Challenges, Drivers and Restraint Research Report by 2027
September 23, 2022
Global pea milk market was pegged at $122.9 million in 2019, and is anticipated to reach $251.2 million by 2027, registering a CAGR of 10.5% from 2021 to 2027.
PORTLAND, OREGON, UNITED STATES, September 22, 2022 /EINPresswire.com/ -- Pea milk is plant-based milk produced by the extraction process from the dried peas, especially the yellow peas. Pea milk contains the essential nutrition sources such as vitamin D, protein, fat, and calcium for toddlers and infants, which provide 50% more calcium and half the quantity of saturated fat in comparison to the other milk alternatives.
The growth of the global pea milk market is majorly driven by rise in number of vegan & diet-conscious consumers across the globe. Furthermore, health issues such as lactose intolerance owing to deficiency of intestinal enzyme lactase and alarming increase in cases of obesity across the globe due to high intake of fats fuel the demand for dairy-free or vegan food products, which, in turn, boosts the growth of the global pea milk market.
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The key market players analyzed in the global pea milk market report include Ripple Foods, Nestle SA, DrinkStar, Snappea Foods, Vly Foods, Devon Garden Foods, Sproud, Qwrkee, Freedom Foods, and The Mighty Society. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
The outbreak of covid-19 led has made people opt for healthy eating and drinking choices in order to perk up their overall health and immunity.
The manufacturing companies across the globe are also shooting up their investments in plant-based products to cater to the increasing consumer demand, and this drift is pretty likely to continue post pandemic as well.
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The global pea milk market is analyzed across flavor, packaging type, distribution channel, and region. Based on flavor, the original segment accounted for around one-third of the total market revenue in 2019, and is expected to dominate by the end of 2027. The vanilla segment, on the other hand, would exhibit the fastest CAGR of 11.8% throughout the forecast period.
Based on packaging type, the aseptic cartons segment contributed to more than two-fifths of the total market share in 2019, and is anticipated to lead the trail by 2027. The same segment would showcase the fastest CAGR of 10.8% during the forecast period.
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Based on geography, North America garnered the highest share in 2019, generating nearly two-fifths of the global market. Simultaneously, the market across Asia-Pacific would exhibit the fastest CAGR of 12.6% from 2021 to 2027. The other two provinces covered in the report include Europe and LAMEA.
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