Pea Flakes Global Market Report 2024

The global pea flakes market has grown rapidly in recent years. It will grow from $1.86 billion in 2023 to $2.07 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth observed in the historical period can be ascribed to various factors, including the rise of health and wellness trends, a shift toward vegetarian lifestyles, continual innovation within the food industry, consumer preferences leaning toward natural ingredients, heightened concerns regarding sustainability, and the appeal of allergen-free products. These combined elements contributed significantly to the market's expansion during that period.

The global pea flakes market is expected to see rapid growth in the next few years. It will grow to $3.14 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The anticipated growth in the forecasted period is linked to sustained attention on health and wellness, the continual expansion of vegan and vegetarian markets, supportive government policies and subsidies, heightened environmental consciousness, and a growing acceptance of alternative proteins. Notable trends expected in this period encompass the increasing demand for clean label and natural ingredients, the broadening application of alternative proteins in pet food, investments directed toward processing technologies, the emergence of pea flakes as a texturizing agent, and an emphasis on global market expansion.

The escalating expenditure on superfoods or health-oriented food items is poised to drive the growth of the pea flakes market. Superfoods encompass nutrient-rich meals such as salmon, broccoli, or blueberries, lauded for their health benefits due to their antioxidant, fiber, or fatty acid content. The growing investment in these superfoods or healthy food products fosters demand for pea flakes, recognized as a nutritional food with inherent health advantages. According to Medical News Today, the global expenditure on superfoods or healthy food products was USD 6.57 billion in 2022 and is anticipated to soar to USD 11.50 billion by 2030, marking a Compound Annual Growth Rate (CAGR) of 7.2%. Thus, the increased spending on health-focused food products fuels growth in the pea flakes market.

The burgeoning vegetarian populace is anticipated to propel the expansion of the pea flakes market. This demographic comprises individuals adhering to a vegetarian diet, wherein pea flakes hold significance by offering a plant-based, protein-rich snack alternative aligned with ethical, health, and sustainability considerations. As reported by the U.S. Department of Agriculture's Foreign Agricultural Service in January 2023, Germany exhibited the highest rate of vegetarianism, with over 1.5 million identified as vegans in 2022, a significant increase compared to a decade ago. This shift in dietary preferences, with nearly 8 million consumers opting for vegetarian food, underscores the driving force behind the growth of the pea flakes market.

Innovation stands as a pivotal trend gaining traction within the pea flakes market. Key companies operating in this sphere prioritize developing pioneering products to fortify their market positions. For example, in December 2021, Gold&Green, a Finnish food technology company, introduced protein granules and flakes crafted from oat bran, pea, and fava bean protein. These plant-based ingredients boast a neutral flavor and versatile texture adaptable to various uses, rich in fiber, potassium, iron, and a substantial protein source. These components find applications in shaping foods like falafel, veggie burgers, balls, and patties, suitable for deli salads, baked goods, frozen dinners, and as plant-based alternatives to dairy, meat, and fish proteins.

Major players in the pea flakes market are intensifying their focus on introducing innovative products such as gluten-free snacks to gain a competitive edge. Gluten-free snacks, devoid of proteins found in wheat, barley, and rye, stand as a focus area for these companies. For instance, in August 2023, Calbee Inc., a Japanese food company, collaborated with Walmart to launch a new flavor of Harvest Snaps snacks. This range of plant-based options includes the popular Snapea Crisps, renowned for their light salting and baked preparation, offering a healthier snacking choice. Harvest Snaps, made from green peas, are celebrated for their satisfying crunch and delightful taste, offering seven distinct flavors in a sampler package, presenting a diverse range of plant-based baked snacks.

In January 2022, Benson Hill, Inc., a US-based crop design platform provider, acquired ZFS Creston LLC for an undisclosed sum. This acquisition positions Benson Hill to deliver an array of enhanced ingredients, offering innovative solutions to challenges within the rapidly growing yet capacity-limited plant-based sector. ZFS Creston LLC, based in the US, specializes in producing food-grade pea flake and soy flour.

Major companies operating in the pea flakes market report are Gemef Industries, BP Milling Ltd., Danone SA, Dumoulin SA, Garden Valley Foods, Green Foods LLP, Inland Empire Foods Inc., Iovate Health Sciences International Inc., JR Farm GmbH, Nutiva Inc., Orgain Inc., The Simply Good Food Company, True Nutrition, Wheeky Pets LLC, Vestkorn Milling AS, Cosucra Groupe Warcoing SA, Emsland Group, Roquette Freres SA, Avena Foods Limited, Batory Foods Inc., Best Cooking Pulses Inc., CanMar Grain Products Ltd., Cargill Inc., Columbia Grain International Inc., Diefenbaker Spice & Pulse, Gavilon Group LLC, Global Grain Canada Ltd., Ingredion Incorporated, J.G. Boswell Company, Kashi Company, Kellogg Company

North America was the largest region in the pea flakes market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pea flakes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the pea flakes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary variations of pea flakes include yellow peas and green peas. Yellow peas, characterized by yellow flowers resembling peas, represent one of the varieties within the pea flakes category. These products originate from both organic and conventional sources, and their distribution spans hypermarkets, supermarkets, convenience stores, and online channels. They find utility in food processing, animal and aqua feed, as well as household or rental applications.

This report provides pea flakes market statistics, including pea flakes industry global market size, regional shares, competitors with pea flakes market share, detailed pea flakes market segments, market trends, and opportunities, and any further data you may need to thrive in the pea flakes industry. This pea flakes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The pea flakes market consists of sales of human-grade pea flakes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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