The global pea milk market is anticipated to surpass a valuation of US$ 138 million by the end of 2030. The spread of COVID-19 is bringing about declining supply of pea milk from one country to another country due to global lockdowns, which eventually diminishes the consumption of pea milk among end consumers. Likewise, declining requests from consumers attributable to the shutdown of hotels, restaurants, and eateries, combined with decrease in production capacity, are factors adversely affecting the growth of the pea milk market.
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However, the market will experience a comeback once the COVID-19 pandemic is brought under control, as the resuming of F&B establishments universally will enhance the development of the global pea milk market.
Key Takeaways from Pea Milk Market Study
- North America is dominating the global pea milk market with a share of around 60%. Primary reason being, easy availability of the product due to high number of brick and mortar stores.
- The pea milk market in Asia Pacific is likely to register an absolute dollar opportunity of over US$ 10 million from 2020 to 2030, due to increasing demand for plant-based dairy alternatives in the region.
- Pea milk offered in packaging sizes of 48 oz are expected to show strongest growth, owing to its cost efficiency, applicability, and availability.
- Rising inclination towards plant-based products among fitness enthusiasts can be one of the factors that will increase demand for health drinks based on pea milk.
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Pea Milk Market: Segmentation
Fact.MR has studied the pea milk market with detailed segmentation on the basis of flavor, sweetness, pack size, packaging material, end user, sales channel and region.
| Flavor |
- Original
- Vanilla
- Chocolate
- Barista
|
| Sweetness |
|
| Pack Size |
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Product Launches to Enhance Market Resiliency
Key players in the pea milk market are Ripple Foods, Sproud, Bolthouse Farms, Devon Gardens, Snappea, Freedom foods, Mighty pea, Qwrkee, DrinkStar GmbH, and Vly Foods, among others.
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