Pea milk is also known as pea protein beverage which is a type of plant milk. It is made from the pea protein which are extracted from the yellow peas. It comes in four flavours which includes original flavour, unsweetened, vanilla and chocolate. The original flavour pea milk is creamy and lightly sweetened. The unsweetened pea milk is not sweet and has an earthier flavour. Vanilla and chocolate flavours are like milkshakes which are generally for the kids. The pea milk is used because it’s a rich source of plant-based protein and good source of important nutrients. It is marketed as a more environment-friendly substitute to almond milk and a non-GMO alternative to soya milk. The global pea milk market was valued at USD 122.9 million in 2019.
Rising demand for plant based dairy drinks is driving the pea milk market. The pea milk consists of various important nutrients which are necessary for the human health. In terms of protein content, the pea milk is comparable to cow milk. High protein content milk gives health benefits, such as lower body weight, increased muscle mass and better blood sugar control. Due to the high demand for the rich protein diets will fuels the growth of the market. The vegetarian people may lack the potassium, calcium, vitamin A, vitamin D and iron in the diet. So, for such people pea milk is an alternative. According to the National Centre for Biotechnology Information, in 2017, the rise in vegan population is expected to be 17% across the globe, increasing the demand for the pea milk in the forecast period.
Over 68% of the global population is affected by lactose intolerance. The lactose intolerant people must not take dairy products, including cow’s milk, to eliminate symptoms like bloating, gas, and diarrhoea. Such people can take the pea milk because it is dairy free. Further those who are having the bone health issues, nerve transmission and muscle contraction issues can consume the pea milk which is spurring the market growth.
In 2019, the plant-based milk industry was up to USD 5 billion and will reach a value of USD 26 billion in the next five years. Additionally, the number of children below age group of 5 is increasing day by day. The U.S. Census Bureau declared that the children below the age group of five were 23.3 million in 2017. Such factors play a major role in driving the pea milk market which is expected to grow at a high rate shortly.
Pea milk is 30% costly than organic milk which is limiting its consumption among cost-conscious consumers. Also, slow acceptance of this product is also expected to hinder its market revenue over the forecast period.
In terms of flavours, the original flavour segment was the most prominent in 2019, however, the vanilla flavour segment is expected to remain dominant during the forecast period due to its low cost. In terms of packaging type, the aseptic cartons segment was the highest contributor to the pea milk market in 2019. On the basis of distribution channel, the retail segment takes the more share in the pea milk market. The leading franchises in the retail sectors are focussing on the expansion of their network in emerging market. Thus, retail segment will be dominating in the pea milk market.
North America is expected to grow significantly in the global pea milk market. The consumers are more concern about the health. This concern is rising due to the increasing early age disease. So, the focus towards the plant-based milk is more in the North America. The trend of vegan is proliferating the pea milk market in North America. Nowadays, the consumers are looking towards the healthy lifestyle. The factors such as stressful environment, rising pollution and other factors which are affecting the health are increasing. So, consumers are also looking for some substitute in the diet which can minimize the chances of any allergy, disease through the food. Broader scope of products is available and improved product developments and innovations is the main focus for the manufacturer. In North America, consumers' preference towards plant-based milk is increasing because this act as an ideal solution that will surge a pea milk market in this region. In addition, rise in lactose intolerance and related disorders among consumers, will further fuels the pea milk market in the U.S and Canada.
The significant growth opportunities are there in the Europe, Asia Pacific and Middle East countries for the pea milk market because of development and innovations. Europe is showing the substantial growth in the forecast period. Further Asia Pacific will be the fastest growing market for pea milk due to increase in lactose free products coupled with non-GMO products in milk consumption.
Key Market Segments
By Packaging Type
- Aseptic Cartons
By Distribution Channel
- Supermarkets & Hypermarket
- Online Stores
- Convenience Stores
Few Key Players in Pea Milk Market
- Ripple Foods
- Snappea Foods
- Devon Garden Foods
- Qwrkee, Freedom Foods
- Vly Foods
- Nestle SA
- The Mighty Society
- Other Players
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