The global peas production is projected to register a CAGR of 4.3%, during the forecast period (2021-2026).
COVID-19 has impacted badly on agriculture commodity including pea production due to the unavailability of input and transport facilities, the spread of the virus had disrupted the supply of agro-products to markets and consumers, both within and across borders of countries.
The increasing world population, mainly in the developing regions, is continuously driving the consumption demand for dry peas which also acts as a major driving force behind the growth of the peas market. Dry peas are ranked fourth in terms of world production of legumes below soybeans, peanuts, and dry beans. Yellow peas and green peas are the commercially grown varieties, with yellow peas dominating the global production.
North America is the largest market due to the favorable climatic regions, where various commercial varieties of peas such as dry peas, yellow, green, maple, green marrowfat, and Austrian winter peas are grown. According to FAO, Albania is the largest producer of green peas, which produced around 13.3 million metric ton in 2019.
Key Market Trends
Growing Demand for Pea Protein Ingredients is Driving the Market
Pea proteins extracted from yellow peas dominate the food industry. It is added to veggie burgers, energy bars, and popcorn to milk, yogurt, and ice cream. Even in some cases, pea protein is replacing soy protein isolates in processed foods. The increasingly fitness-conscious population and a gradual shift to vegan protein diets from consuming meat products are the factors driving the demand for peas in the market. Owing to their high nutritional qualities and increased western influence, pea proteins have gained popularity even in the developing countries.
United States Dominate The North America Region
The United States, Canada, and Mexico are the leading producer of peas in North America. Minnesota is the largest pea-producing state in the United States. Other green pea-producing states following Minnesota are Washington, New York, Wisconsin, and Oregon. However, Montana, North Dakota, and Idaho are the major dry pea production states. According to the ITC Trade Map, the United States represents about 13.4% of global exports with USD 51,209.0 thousand in 2019. According to FAO, dry peas production in the United States increased from 643.0 thousand metric ton in 2017 to 1,013 thousand metric ton in 2019. The growing consumption of pea derived products in the region is driving the growth of the market
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