Global Split Pea Market Size Likely to Grow at a CAGR of 4.8% By 2033

As per the current market research conducted by the CMI search Team, the global Split Pea Market size is expected to record a CAGR of 4.8% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 508.5 Million. By 2033, the valuation is anticipated to reach USD 775.4 Million.

Split Pea Market: Growth Factors and Dynamics

• Increasing Health Consciousness: Growing awareness about the nutritional benefits of split peas, including their high fiber and protein content, is driving consumer demand. Split peas are perceived as a healthy and sustainable protein source, appealing to health-conscious consumers seeking plant-based alternatives.

• Rising Vegan and Vegetarian Population: The expanding vegan and vegetarian demographics worldwide are contributing to the growth of the split pea market. Split peas serve as a versatile ingredient in plant-based diets, offering a meat-free protein option for consumers seeking alternatives to animal products.

• Demand for Convenience Foods: Busy lifestyles and changing dietary habits are fueling the demand for convenient food options. Split pea-based products such as soups, ready-to-eat meals, and snack foods provide convenient and nutritious choices for consumers looking for quick meal solutions without compromising on health benefits.

• Expanding Food Service Industry: The growth of the food service industry, including restaurants, cafeterias, and catering services, is driving the demand for split peas as a versatile ingredient in various culinary applications. Split pea-based dishes are increasingly featured on menus as part of the growing trend towards plant-forward cuisine.

• Sustainable Agriculture Practices: With increasing emphasis on sustainability and environmental responsibility, split peas are gaining traction as a sustainable crop. They require fewer resources such as water and fertilizer compared to animal-based protein sources, making them environmentally friendly options for both consumers and producers.

• Innovative Product Development: Continuous innovation in product development and processing techniques is expanding the market for split pea-based products. Manufacturers are introducing new formulations, flavors, and formats to cater to evolving consumer preferences, driving market growth and diversification.

• Government Initiatives Promoting Healthy Eating: Government initiatives aimed at promoting healthy eating habits and reducing the consumption of processed foods are bolstering the demand for nutritious, plant-based ingredients like split peas. Policies promoting sustainable agriculture, food security, and public health are creating a supportive regulatory environment for the growth of the split pea market, encouraging both producers and consumers to embrace healthier dietary choices.

Split Pea Market: Partnership and Acquisitions

• In 2022, Royal DSM, a Dutch multinational company, finalized the acquisition of Vestkorn Milling, a prominent European producer of pea-derived products. The transaction, valued at US$ 79.97 million, strengthens DSM’s position in the market for plant-based ingredients and aligns with its sustainability-focused growth strategy.

• In 2020, Cargill, a US-based food company, invested US$ 75 million in PURIS to enhance pea protein production capacity at a Dawson, Minnesota facility. This investment aims to meet the increasing global demand for pea protein, starch, and fiber, supporting PURIS’ growth strategy.

Report Scope

Split Pea Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Split Pea 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 led to disruptions in global supply chains, affecting the production and distribution of split peas. Restrictions on transportation and labor shortages hindered the movement of goods, leading to supply chain bottlenecks and fluctuations in market availability.

• Shift in Consumer Preferences: During the pandemic, there was a shift in consumer preferences towards shelf-stable and pantry essentials. While split peas are a staple ingredient with a long shelf life, fluctuations in consumer demand and purchasing behavior impacted the market dynamics, with fluctuations in sales patterns observed across different regions.

• Diversification of Distribution Channels: To mitigate the impact of future disruptions, stakeholders in the split pea market can diversify their distribution channels. This includes expanding into online retail platforms, direct-to-consumer sales, and forging partnerships with e-commerce platforms to reach a broader customer base and reduce dependence on traditional brick-and-mortar outlets.

• Product Innovation and Development: Investing in product innovation and development can help rejuvenate the split pea market post-COVID-19. Manufacturers can introduce new split pea-based products, such as convenience meals, snacks, and value-added offerings, catering to evolving consumer preferences for healthy, convenient, and innovative food options.

• Emphasis on Food Safety and Hygiene: Given heightened consumer awareness of food safety and hygiene in the wake of the pandemic, industry players should prioritize stringent quality control measures and adherence to safety standards throughout the production and distribution process. Transparent communication regarding food safety practices can help rebuild consumer trust and confidence in split pea products.

• Promotion of Health and Wellness: Leveraging the growing consumer interest in health and wellness, stakeholders can promote the nutritional benefits of split peas as part of a balanced diet. Marketing campaigns highlighting the high protein, fiber-rich, and plant-based nature of split peas can resonate with health-conscious consumers seeking nutritious and sustainable food options.

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

List of the prominent players in the Split Pea Market:

• Archer Daniels Midland Company
• AGT Food and Ingredients Inc.
• Conagra Brands Inc.
• Groupe Ebro Puleva
• Ingredion Incorporated
• AGF Group
• Puris Foods
• Blue Ribbon
• The Scoular Company
• Olam International Ltd
• SunOpta Inc.
• Roquette Frères
• Vestkorn Milling AS
• Cargill Incorporated
• Bob’s Red Mill Natural Foods
• Others

The Split Pea Market is segmented as follows:

By Type

• Green Split Peas
• Yellow Split Peas

By Application

• Food Industry
  • Soups
  • Stews
  • Side Dishes
  • Snack Foods
  • Baby Food
• Food Service Industry
• Household/Consumer Use

By Distribution Channel

• Supermarkets/Hypermarkets
• Convenience Stores
• Online Retail
• Specialty Stores
• Direct Sales
• Food Service Providers

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