Global Pea Milk Market Size Likely to Expand at a CAGR of 8.5% By 2033

As per the current market research conducted by the CMI Team, the global Pea Milk Market size 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.

Pea Milk Market: Growth Factors and Dynamics

• Increasing Demand for Plant-Based Alternatives: The growing trend towards plant-based diets, driven by health, environmental, and ethical concerns, is boosting the demand for pea milk as a dairy alternative.

• Rising Health Consciousness: Consumers are increasingly seeking healthier beverage options, leading to a surge in demand for pea milk due to its perceived health benefits, including being lactose-free, cholesterol-free, and rich in protein and nutrients.

• Product Innovation and Development: Continuous innovation in flavors, formulations, and packaging formats by manufacturers is driving market growth, catering to diverse consumer preferences and expanding the application of pea milk in various food and beverage products.

• Expansion of Distribution Channels: The availability of pea milk through various distribution channels, including supermarkets, specialty stores, online platforms, and cafes/restaurants, is expanding rapidly, making it more accessible to consumers and driving market penetration.

• Supportive Regulatory Environment: Favorable government regulations and policies promoting plant-based diets and sustainable food production are creating a conducive environment for the growth of the pea milk market, encouraging investment and innovation in the sector.

• Consumer Awareness and Education: Increasing consumer awareness about the environmental impact of animal agriculture, coupled with educational campaigns highlighting the health benefits of plant-based diets, is driving consumer interest and adoption of pea milk as a sustainable and nutritious beverage option.

• Retail Expansion and Globalization: Pea milk manufacturers are increasingly expanding their presence in international markets, leveraging global distribution networks and partnerships to tap into new consumer demographics and drive market growth across regions.

• Competitive Pricing and Affordability: As competition in the plant-based milk market intensifies, manufacturers are focusing on offering competitively priced pea milk products to attract price-conscious consumers. Affordable pricing strategies, along with promotional offers and discounts, are driving increased affordability and consumption of pea milk among a broader consumer base.

Pea Milk Market: Partnership and Acquisitions

• In 2022, Nestle S.A. strengthened its knowledge in agricultural science by entering a cooperative agreement with research institutes. This partnership facilitates knowledge exchange, research collaboration, and access to cutting-edge agricultural technologies, enabling Nestle to enhance sustainability and quality in its agricultural supply chain.

• In 2022, Devon Garden Food Ltd. developed a novel sustainable plant-based milk product with funds obtained. This innovation underscores their commitment to sustainability and addresses growing consumer demand for environmentally friendly alternatives in the dairy industry.

• In 2021, Blue Diamond launched Almond Breeze, an exceptionally creamy almond milk crafted from high-quality almonds grown in California. The luxurious texture is achieved through the inclusion of almond oil derived from Blue Diamond’s premium almonds, offering a rich and indulgent dairy-free alternative.

Report Scope

Pea Milk Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Pea Milk Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Disruption in Supply Chains: The COVID-19 pandemic disrupted supply chains, leading to logistical challenges and shortages of raw materials. This affected the production and distribution of pea milk, causing delays and impacting market availability.

• Shift in Consumer Behavior: During the pandemic, there was a shift in consumer behavior towards essential items, resulting in changes in purchasing patterns and preferences. This affected demand for niche products like pea milk, as consumers focused more on staple goods.

• E-commerce Expansion: Pea milk manufacturers can recover by expanding their presence on e-commerce platforms, enabling consumers to purchase their products online. This allows for direct-to-consumer sales and mitigates the impact of disruptions in traditional retail channels.

• Product Innovation: Introducing new flavors, formulations, and packaging options can rejuvenate consumer interest in pea milk post-pandemic. Innovation in product offerings can attract new consumers and re-engage existing ones, driving market recovery.

• Marketing Campaigns: Implementing targeted marketing campaigns emphasizing the health benefits, sustainability, and versatility of pea milk can help rebuild consumer confidence and stimulate demand in the market.

• Supply Chain Optimization: Pea milk manufacturers should focus on optimizing their supply chains, diversifying sourcing strategies, and implementing contingency plans to mitigate future disruptions and ensure consistent product availability.

• Partnerships and Collaborations: Collaborating with retailers, food service providers, and distribution partners can enhance market reach and facilitate the reintroduction of pea milk products into various channels. Strategic partnerships can also enable joint marketing efforts and promotional activities to drive consumer awareness and demand.

• Educational Initiatives: Implementing educational initiatives to raise awareness about the nutritional benefits and versatility of pea milk can help rebuild consumer trust and stimulate demand. Providing informative content through social media, blogs, and other platforms can educate consumers about the health advantages, culinary uses, and environmental sustainability of pea milk, encouraging them to incorporate it into their diets.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Pea Milk Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the Pea Milk Market:

• 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

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