Global Pea Milk Market 2024–2033

Reports Description

As per the current market research conducted by the CMI Team, the global Pea Milk Market is expected to record a CAGR of 8.5% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 230.8 Million. By 2033, the valuation is anticipated to reach USD 481.1 Million.

The pea milk market refers to the segment of the plant-based milk industry that focuses on beverages made from pea protein. Pea milk is derived from yellow peas and is gaining popularity as a dairy-free alternative due to its nutritional benefits, including being lactose-free, rich in protein, and containing essential vitamins and minerals.

Market growth is driven by factors such as increasing health consciousness, rising consumer demand for sustainable and eco-friendly products, and innovations in flavor profiles and formulations. Pea milk is increasingly available in various distribution channels, including supermarkets, specialty stores, and online platforms, catering to a diverse consumer base.

Pea Milk Market – Significant Growth Factors

The Pea Milk Market presents significant growth opportunities due to several factors:

• Rising Health Consciousness: Increasing awareness about the health benefits of plant-based diets is driving demand for pea milk, which is perceived as a nutritious and sustainable alternative to dairy milk.

• Growing Lactose Intolerance and Dairy Allergies: The prevalence of lactose intolerance and dairy allergies among consumers is fueling the demand for non-dairy milk alternatives like pea milk.

• Expansion of Plant-Based Food Market: The broader trend towards plant-based eating is creating opportunities for pea milk, as consumers seek out alternatives to animal products for health, environmental, and ethical reasons.

• Innovations in Product Formulations: Continuous innovation in flavors, textures, and formulations of pea milk products are attracting consumers looking for diverse and appealing plant-based beverage options.

• Expansion into New Markets: There is an opportunity for pea milk manufacturers to expand into new geographical markets where the demand for plant-based milk alternatives is growing, tapping into emerging consumer demographics and preferences.

• Product Diversification and Brand Extension: Manufacturers can capitalize on the growing popularity of pea milk by diversifying their product offerings and extending their brand presence into related categories such as flavored variants, fortified options, or ready-to-drink beverages, catering to diverse consumer preferences and usage occasions.

Pea Milk Market – Mergers and Acquisitions

The Pea Milk Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Pea Milk Market include:

• In 2022, Snappea Foods expanded its operations and sales networks in Singapore to gain control of the South-East Asian market. This strategic move allowed the company to establish a stronger presence and reach consumers more effectively in the region.

• In 2022, Molson Coors Beverage entered the plant-based milk market with the launch of Golden Wing Barley Milk. Consumers can purchase this product directly from the manufacturer’s website or at select Whole Foods Market stores, marking their foray into the growing dairy-free beverage sector.

• In 2022, To stimulate innovations in Beauty Activations, Symrise AG introduced a brand accelerator. This initiative aims to foster collaboration with emerging brands, providing resources and support to accelerate the development and launch of innovative beauty products and solutions.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Pea Milk Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Pea Milk Market	Pea Fiber Market	Pea Flakes Market
CAGR 8.5% (Approx)	CAGR 6.3% (Approx)	CAGR 4.1% (Approx)
USD 481.1 Million by 2033	USD 39,548.2 Million by 2033	USD 3,226.1 Million by 2033

Pea Milk Market – Significant Threats

The Pea Milk Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

• Competition from Other Plant-Based Milk Alternatives: The pea milk market faces intense competition from other plant-based milk alternatives such as almond milk, soy milk, oat milk, and coconut milk. Consumers have a wide range of options to choose from, posing a threat to the market share of pea milk.

• Allergen Labeling and Cross-Contamination Concerns: Pea milk may pose allergen risks for individuals with allergies to peas or other legumes. Strict allergen labeling requirements and concerns about cross-contamination in manufacturing facilities may deter some consumers from purchasing pea milk products.

• Supply Chain Vulnerabilities: Disruptions in the supply chain, including fluctuations in the availability and cost of raw materials (such as yellow peas), transportation challenges, and geopolitical factors, can impact the production and distribution of pea milk, posing a threat to market stability.

• Regulatory Challenges and Labeling Regulations: Evolving regulatory requirements related to food labeling, safety standards, and nutritional claims may pose compliance challenges for pea milk manufacturers. Non-compliance with regulations or failure to meet labeling requirements could result in fines, legal repercussions, and reputational damage.

• Consumer Perception and Taste Preferences: Despite its nutritional benefits, pea milk may face challenges related to consumer perception and taste preferences. Some consumers may perceive pea milk as having a distinct taste or texture compared to traditional dairy milk, leading to lower acceptance and adoption rates. Addressing taste preferences and improving product palatability is essential to mitigate this threat.

Category-Wise Insights:

By Product Type

• Original/Plain Pea Milk: Original pea milk refers to the unflavored, basic form of pea milk made from pea protein and water. This variant emphasizes simplicity and purity, appealing to consumers seeking clean-label products with minimal processing. A trend in this segment is the growing demand for transparency in ingredient sourcing and production methods, with consumers increasingly prioritizing products that are free from additives, preservatives, and artificial flavors.

• Flavored Pea Milk: Flavored pea milk includes varieties with added flavors such as chocolate, vanilla, or strawberry. These options offer a diverse range of taste experiences, catering to different consumer preferences and expanding the appeal of pea milk beyond traditional dairy alternatives. A trend is the introduction of innovative flavor combinations, incorporating exotic fruits, spices, and botanical extracts to create unique and indulgent beverage options that stand out in the crowded plant-based milk market.

• Sweetened Pea Milk: Sweetened pea milk contains added sugars or sweeteners to enhance taste and sweetness. This variant provides a satisfyingly sweet flavor profile, appealing to consumers with a preference for sweeter beverages. A trend is the use of natural sweeteners like cane sugar, agave syrup, or dates, aligning with consumer preferences for healthier sweetening options that offer a more wholesome and natural taste experience.

• Unsweetened Pea Milk: Unsweetened pea milk is free from added sugars or sweeteners, appealing to consumers seeking low-sugar or sugar-free beverage options. This variant provides a clean and pure taste, allowing the natural flavor of the peas to shine through. A trend is the growing demand for unsweetened plant-based milk alternatives among health-conscious consumers who prioritize products with minimal added sugars and lower overall calorie content.

• Fortified Pea Milk: Fortified pea milk is enriched with additional nutrients such as vitamins, minerals, or protein to enhance its nutritional value. This variant offers an added health benefit, providing consumers with an easy and convenient way to meet their daily nutrient requirements. A trend is the fortification of pea milk with essential nutrients such as calcium, vitamin D, and omega-3 fatty acids, addressing specific dietary needs and preferences while appealing to a wider audience of health-conscious consumers.

• Others: This category includes niche or specialty pea milk products, such as organic, low-fat, or high-protein variants, catering to specific dietary preferences or nutritional requirements. A trend is the development of customized pea milk formulations to target niche consumer segments and differentiate brands in the competitive market landscape. Manufacturers are also exploring innovative processing techniques and ingredient combinations to create unique and value-added pea milk products that stand out in the market.

By Packaging Type

• Cartons: Pea milk packaged in cartons offers convenience and sustainability, with recyclable materials and easy pourability. Trends include the rise of eco-friendly packaging made from renewable resources, such as plant-based cartons, and innovative designs for shelf appeal.

• Bottles: Bottled pea milk provides portability and convenience for on-the-go consumption. Trends include the use of lightweight and shatterproof PET bottles, as well as the introduction of ergonomic designs and resealable caps for enhanced consumer convenience.

• Pouches: Pea milk in pouches offers flexibility and portion control, making it ideal for single servings or travel. Trends include the emergence of eco-friendly pouch materials, such as compostable or biodegradable options, and convenient spout designs for easy pouring and consumption.

• Bulk Packaging: Bulk packaging of pea milk caters to institutional or commercial consumers, offering cost-effective solutions and reduced packaging waste. Trends include the use of sustainable materials for bulk containers, such as recyclable plastic drums or cardboard boxes, and customizable packaging options to meet the specific needs of food service establishments and manufacturing facilities.

By End Use

• Direct Consumption: Pea milk is consumed as a standalone beverage, offering a creamy texture and nutty flavor. Trends include the rise of single-serve packaging for on-the-go consumption, innovative flavor profiles to enhance palatability, and marketing campaigns emphasizing its nutritional benefits as a dairy-free alternative.

• Coffee/Tea: Pea milk is increasingly used as a dairy-free option in coffee and tea beverages. Trends include barista-grade formulations for optimal frothing, unsweetened variants to complement the natural flavors of coffee and tea, and partnerships with coffee shops and cafes to expand market presence.

• Cooking/Baking Ingredient: Pea milk serves as a versatile ingredient in cooking and baking applications. Trends include the development of thick and creamy formulations for culinary applications, unsweetened varieties for savory dishes, and fortified options to enhance nutritional value in recipes.

• Smoothies and Shakes: Pea milk is a popular choice for blending into smoothies and shakes. Trends include the introduction of flavored variants specifically tailored for smoothie recipes, high-protein formulations to enhance post-workout recovery, and collaborations with fitness influencers to promote pea milk as a nutritious and sustainable ingredient.

• Others: Pea milk finds diverse applications beyond traditional categories. Trends include the incorporation of pea milk into breakfast cereals, granolas, and desserts, innovative uses in savory dishes such as soups and sauces, and product development targeting niche markets such as infant nutrition and pet food.

By Distribution Channel

• Supermarkets/Hypermarkets: These large-scale retail outlets offer a wide range of pea milk brands, providing convenience and accessibility to consumers. Trends include increased shelf space for plant-based products, prominent display of pea milk in health food aisles, and partnerships with manufacturers for exclusive product offerings.

• Specialty Stores: Specialty stores focus on niche markets, offering premium and organic pea milk variants. Trends include curated selections, emphasis on product quality and uniqueness, and personalized shopping experiences catering to health-conscious consumers.

• Online Retail Platforms: Online platforms provide convenience and accessibility, offering a wide range of pea milk brands with doorstep delivery. Trends include the rise of e-commerce, targeted marketing campaigns, and subscription services catering to busy lifestyles and health-conscious consumers.

• Convenience Stores: These small-scale retail outlets offer convenience and accessibility to consumers seeking on-the-go beverages. Trends include the introduction of single-serve pea milk packs, placement near checkout counters for impulse purchases, and collaborations with manufacturers for exclusive product offerings.

• Others: This category includes channels such as direct sales, farmer’s markets, or specialty food fairs, offering unique opportunities for direct consumer engagement and niche marketing strategies tailored to specific consumer preferences and demographics. Trends may include experiential marketing, product sampling, and community-driven initiatives to create brand loyalty and awareness.

Report Scope

Feature of the Report	Details
Market Size in 2024	USD 230.8 Million
Projected Market Size in 2033	USD 481.1 Million
Market Size in 2023	USD 212.8 Million
CAGR Growth Rate	8.5% CAGR
Base Year	2023
Forecast Period	2024-2033
Key Segment	By Product, Packaging Type, End User, Distribution Channel and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

Pea Milk Market – Regional Analysis

The Pea Milk Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

• North America: In North America, there is a growing trend towards plant-based diets and sustainable living. Pea milk consumption is rising as consumers seek dairy alternatives that are not only nutritious but also environmentally friendly. Additionally, there’s a focus on product innovation, with companies introducing flavored and fortified pea milk options to cater to diverse consumer preferences.

• Europe: In Europe, the trend towards plant-based eating is driving the demand for pea milk. Consumers are increasingly concerned about animal welfare and environmental sustainability, leading to a shift away from dairy products. As a result, there’s a growing market for organic and locally sourced pea milk. Additionally, there’s an emphasis on premiumization, with brands offering artisanal and high-quality pea milk products.

• Asia-Pacific: In the Asia-Pacific region, there’s a growing awareness of health and wellness, leading to increased consumption of plant-based foods like pea milk. However, the market is still in the nascent stage, with opportunities for growth and expansion. Key trends include the introduction of innovative flavors and packaging formats to appeal to Asian palates and preferences.

• LAMEA (Latin America, Middle East, and Africa): In the LAMEA region, the pea milk market is driven by factors such as rising disposable incomes, urbanization, and changing dietary habits. There’s a growing demand for convenient and nutritious food and beverage options, including plant-based milk alternatives like pea milk. Additionally, there’s a trend towards fortified pea milk products, targeting consumers looking for added health benefits.

Competitive Landscape – Pea Milk Market

The Pea Milk Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:

• Ripple Foods
• Bolthouse Farms
• Sproud
• Milkadamia
• Forager Project
• Elmhurst Milked
• Happy Planet Foods
• Vly Foods
• Qwrkee Foods
• Nutpods
• Califia Farms
• Hope & Sesame
• Oatly
• Goodmylk Co.
• Mooala
• Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

Several new players are adopting innovation and development strategies to enter the pea milk market, including startups focusing on unique formulations, flavors, and sustainable packaging solutions. These companies leverage advancements in food technology to create differentiated products that appeal to health-conscious consumers.

Key players dominating the market include established brands such as Ripple Foods, Bolthouse Farms, and Sproud. These companies have a strong presence in retail channels, extensive distribution networks, and robust marketing strategies. They maintain market dominance through continuous product innovation, brand recognition, and strategic partnerships with retailers and distributors.

The Pea Milk Market is segmented as follows:

By Product

• Original/Plain Pea Milk
• Flavored Pea Milk
• Sweetened Pea Milk
• Unsweetened Pea Milk
• Fortified Pea Milk
• Others

By Packaging Type

• Cartons
• Bottles
• Pouches
• Bulk Packaging

By End User

• Direct Consumption
• Coffee/Tea
• Cooking/Baking Ingredient
• Smoothies and Shakes
• Others

By Distribution Channel

• Supermarkets/Hypermarkets
• Specialty Stores
• Online Retail Platforms
• Convenience Stores
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America