Pioneering Pathways in the Dried Peas Market: An In-depth Exploration Unveiling Market Dynamics, Competitive Strategies, and Future Growth Potential

The dried peas market size has grown strongly in recent years. It will grow from $5.16 billion in 2023 to $5.54 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to traditional culinary use, long shelf life and storage, culinary versatility, agricultural practices, economic factors, historical trade and distribution.

The dried peas market size is expected to see strong growth in the next few years. It will grow to $7.51 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to consumer education and marketing, changing dietary preferences, innovations in processing and packaging, sustainable agriculture practices, growing plant-based diets. Major trends in the forecast period include plant-based protein demand, snacking and convenience, expansion of meat alternatives, sustainable agriculture practices, innovation in product forms.

Market Overview -
Dried peas are defined as peas that are preserved by dehydrating or drying to concentrate the flavor and extend the shelf life. They are used in food preparation, such as pasta, cereals, and soups.

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Dried Peas Market Thrives As Consumers Embrace Health-Conscious Lifestyles
The increasing number of individuals preferring a healthy lifestyle is expected to propel the growth of the dried peas market in the coming years. A healthy lifestyle in people nowadays helps fight illness, focuses on a strong immune system to prevent fight infections, and more energy. In recent years, people have been taking care of their health and hence a lot of them are shifting towards a vegetarian diet as it would lead to lower blood pressure, and improved cholesterol levels, which reduces the chance of a heart attack and stroke. For instance, in 2021, according to The British Nutrition Foundation, a UK-based company reported that 62% of Britons have changed their diets to become healthier. This has increased the dried peas market for plant-based proteins as well which include, peas, lentils, beans, and soy products.

Competitive Landscape -
Major companies operating in the dried peas market report are The Kraft Heinz Company, Simplot Company, Ingredion Inc., Roquette Frères S.A., Del Monte Foods Inc., Greenyard Foods NV, TreeHouse Foods Inc., ConAgra Brands Inc., Bonduelle S.A., Keystone Foods LLC, Goya Foods Inc., Seneca Foods Corporation, Premier Foods plc, AGT Food and Ingredients Inc., Conserve Italia S.p.A., Findus France SAS, The Scoular Company, Euroma (Netherlands) BV, C. F. Sauer Company, Cosucra Groupe Warcoing S.A., Meelunie BV, Herba Ingredients Limited, North Bay Trading Company, Vestkorn Milling AS, L.H. Hayward Ltd., Dakota Ingredients LLC, Green Giant Foods LLC, AM Nutrition LLC, Burlingame Foods Inc., Erbsen-Vertriebs-Zentrale eG (EVZ)

Dried Peas Firms Redefine Product Offerings For Diverse Applications
Dried peas companies are increasingly offering pea protein-based powder which can be incorporated in ready-to-drink beverages, baked goods, and dairy foods. Pea protein has a higher concentration of protein and a well-balanced profile of amino acids and can be used as a substitute for egg protein in products such as mayonnaise and as an alternative to soy and wheat gluten. For instance, in September 2022, Tata Consumer Product (TCP), an India-based consumer products company including food and beverages, launched Tata GoFit. Tata GoFit plant protein powder is plant-based, devoid of soy, lactose, and added sugar, and contains ingredients like peas and brown in rice ready-to-mix formula with added probiotics to enhance gut health.

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Key Segments -

The dried peas market covered in this report is segmented -

1) By Product Type: Yellow Peas, Green Peas
2) By Nature: Conventional, Organic
3) By Application: Household Or Retail, Foodservice Or HoReCa, Animal Feed, Pharmaceuticals And Supplements, Cosmetics And Personal Care, Food And Beverage Processing

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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