Pea Milk Market

Pea Milk Market Analysis by Original Flavored, Vanilla Flavored, Chocolate Flavored, and Barista Flavored for Brick & Mortar Stores and Online Retail Channels from 2023 to 2033

Analysis of Pea Milk Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more.

Pea Milk Market Outlook (2023 to 2033)

The global pea milk market is estimated at US$ 51.55 billion in 2023 and is projected to expand at a robust CAGR of 13.1% to reach US$ 176.54 billion by 2033.

Plant-based milk replacements are becoming increasingly popular around the world, owing primarily to the growing demand for clean-label products. Today, customers all around the world are looking for organic and healthful drinks. Pea milk is a recent discovery in the dairy business, where manufacturers are looking for a low-cost solution to meet the world's expanding protein needs. Pea milk is made from yellow peas and contains the same amount of protein as cow milk, as well as significantly more protein than almond milk.

Milk produced from peas is less expensive, has a clear taste, and lacks the strong flavor seen in other plant-based dairy products in the market. Because of the widespread customer acceptability for pea milk, the market is expected to offer considerable growth prospects. Soy, almond, rice, coconut, oats, and other non-dairy milk options are already available in the market.

Increased health consciousness and disposable income and the introduction of healthy ingredients by various market competitors have contributed to the growth of the pea milk market. Rising cost of plant-based raw materials, as well as the intensive care required for pea production, are stifling the pea milk industry. The future expansion of the market is expected to be driven by the utilization of frozen peas as primary ingredients.

Several emerging enterprises are considering the potential of using pea milk as a substitute for infant formula (baby food), which presents a promising opportunity for growth in the pea milk industry in the future.

Report Attributes Details

Pea Milk Market Size (2022)

US$ 45.57 Million

Estimated Market Value (2023)

US$ 51.55 Million

Forecasted Market Value (2033)

US$ 176.54 Million

Global Market Growth Rate (2023 to 2033)

13.1% CAGR

China Market Value (2033)

US$ 16.06 Million

China Market Growth Rate (2023 to 2023)

11.1% CAGR

Japan Market Value (2033)

US$ 5.82 Million

Japan Market Growth Rate (2023 to 2033)

9.9% CAGR

Key Companies Profiled

  • Ripple Foods
  • Sproud
  • Bolthouse Farms
  • Snappea Foods
  • Qwrkee Foods Ltd.
  • Bayer AG
  • Abbott
  • DSM
  • DuPont
  • Amway
  • Nestle SA

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Will the World See a Rise in the Consumption of Pea Milk?

“Growing Vegan Population and Widespread Demand for Plant-based Milk”

As more individuals are looking for plant-based milk, the pea milk industry is expected to grow. Because plant-based milk is produced naturally, there has been a surge in its consumption in recent years, and this trend is expected to continue during the forecast period. Health and nutrition experts are also advising consumers to switch to plant-based milk, which is helping the pea milk business grow in developed countries.

Increasing number of people are adopting veganism. Consumers in nations such as Canada are shifting away from animal products and toward plant-based foods that are produced naturally and are healthier and cleaner.

  • In 2021, a record 500,000 people joined, more than double the previous year's figure. Veganuary encourages people to consume only plant-based cuisine for a month. Around 150,000 people from Latin America, 80,000 from the United States, and 50,000 from Germany participated in this year's global campaign.

"Increasing Prevalence of Lactose Intolerance and High Demand for Affordable Plant-Based Alternatives"

The increasing number of people with lactose intolerance worldwide, coupled with the need for affordable plant-based milk alternatives, is fueling the growth of the pea milk industry. The growing preference for pea milk as a substitute for dairy milk is contributing to the expansion of the market. Moreover, the environmentally sustainable production of pea milk, which can also be made at home at a reduced expense, serves as a significant catalyst for the market's promising growth in the coming years.

The growing number of vegan and diet-conscious consumers throughout the world is propelling the pea milk industry forward. Plant-based milk products are therefore gaining popularity in both developed and developing economies.

What are the Key Challenges Faced by Pea Milk Producers?

"Higher Cost of Pea Milk Compared to Conventional Dairy Products"

The price of pea milk is currently 30% higher than conventional dairy products due to increasing costs of raw materials and plant-based components, along with limited consumer acceptance of pea milk worldwide. Additionally, the significant consumption of dairy products by a large number of people and concerns regarding the quality of plant-based alternatives pose challenges to the acceptance of pea milk. Increasing advertising efforts for pea milk are expected to contribute to the future expansion of the market.

“Lack of Awareness of Benefits of Pea Milk and Limited Product Availability”

While there is tremendous demand for pea milk in North America and Europe, the awareness of its benefits remains limited in emerging markets. Educating people about the benefits of pea milk and overcoming cultural barriers continue to be significant hurdles.

Due to the complex production process and the cost of sourcing high-quality components, pea milk is more expensive than conventional dairy milk. This price discrepancy may dissuade price-conscious consumers from switching to pea milk.

Accessibility of pea milk products through retail stores and distribution channels is a concern in certain regions. Limited shelf space and the dominance of established dairy brands can make pea milk products less visible and accessible.

Pea Milk Market Size, Share, Trends, Growth, Demand and Sales Forecast Report by Fact.MR

Country-wise Insights

Why are Pea Milk Sales Rising across the United States?

"Increasing Prevalence of Obesity and Related Disorders Pushing Sales of Pea Milk"

Demand for pea milk in the United States is expected to increase at an impressive CAGR of 14.1% over the forecast period. The market in the United States is anticipated to reach US$ 70.97 million by the end of 2033. This is due to the large obese population in the United States. Obesity has forced people to eat cholesterol-free, naturally cooked plant-based foods.

The United States has emerged as a dominant player in the pea milk industry due to several factors, including the high prevalence of lactose intolerance, the presence of key market players, and strong consumer awareness of plant-based diets.

What are the Opportunities on Offer for Pea Milk Producers in Germany?

"Government Initiatives Supporting Adoption of Plant-based Diets"

Germany is expected to occupy a sizable market share. This is due to the large number of people who are sensitive to dairy-based milk products, as well as rising disposable income.

Introduction of pea milk by discount supermarkets in Germany is one of the primary causes driving the expansion of the European market. Products with fresh tastes and flavors are projected to open up prospects for market participants in the near future.

The country's emphasis on sustainable food options, as well as its expanding vegan population and government initiatives supporting plant-based diets, contribute to market expansion.

What are the Sales Growth Prospects for Pea Milk in China?

"Rising Health-consciousness Propelling Sales of Pea Milk"

Sales of pea milk in China are projected to reach US$ 16.06 million by the end of the forecast period.

The market in China is expanding, with more people becoming aware of the benefits of pea milk. Health-consciousness and a desire for organic products also contribute to market growth.

Anticipated enhancements in the taste and quality of pea milk are likely to create fresh economic prospects for the local market. In China, the competition within the pea milk market has been steadily intensifying in recent years, primarily due to the entry of several new companies into the market. These factors are expected to propel the growth of the market.

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Category-wise Insights

Why are PET Bottles Extensively Used for Packaging Pea Milk?

"Recyclability of PET Bottles Driving Their Adoption for Pea Milk Packaging"

Demand for PET bottles designed for pea milk is anticipated to rise at a prolific CAGR of 11.7% over the projected period.

As the consumption of pea milk continues to rise, the industry is actively seeking sustainable packaging options to meet consumers’ expectations and reduce environmental impact. In this context, PET (polyethylene terephthalate) bottles have emerged as a promising solution for packaging pea milk.

PET bottles offer several advantages that make them suitable for the packaging of pea milk. First, PET is a lightweight and durable material, ensuring the safety and protection of the product throughout its shelf life. This characteristic is crucial, as pea milk requires proper preservation to maintain its freshness and nutritional qualities.

These bottles are transparent, allowing consumers to visually assess the product's quality and freshness before purchase. This transparency also aligns with the growing trend of transparency and ingredient awareness among consumers.

One of the key benefits of PET bottles is their recyclability. PET is highly recyclable, and the infrastructure for PET bottle recycling is well-established in many regions. This aligns with the industry's commitment to sustainable practices and supports the circular economy by reducing waste and conserving resources.

How are Individual Customers Expected to Contribute to Pea Milk Sales Growth?

"Increasing Focus of Manufacturers on Catering to Individual Customers with Specific Dietary Restrictions"

Adoption of pea milk by individual consumers is projected to increase at a robust CAGR of 14.3% over the projected timeframe.

Pea milk, a plant-based alternative to dairy milk, has gained significant traction among individual consumers worldwide. As more individuals are embracing a plant-based lifestyle, seeking healthier options, or addressing specific dietary needs, the market continues to expand.

The individual consumers segment represents a diverse range of individuals with varying preferences, motivations, and dietary requirements. By understanding and catering to their needs, companies in the pea milk industry can expand their profit margins.

Health-conscious consumers are a key demographic within the individual consumer segment. They prioritize nutrition, seek dairy alternatives, and actively choose plant-based products like pea milk to support their healthy lifestyle choices. These consumers value the nutritional profile of pea milk, including its high protein content, absence of cholesterol, and lower saturated fat content compared to dairy milk.

Another important consumer group is individuals with dietary restrictions or allergies, such as lactose intolerance or dairy allergies. For them, pea milk provides a convenient and palatable option that allows them to enjoy milk-like beverages without experiencing adverse reactions.

Competitive Landscape

The pea milk market has witnessed a surge in competition as more companies recognize the growing consumption of plant-based milk alternatives. As a result, the competitive landscape has become increasingly dynamic and diverse.

Companies strive to differentiate themselves through product innovation, introducing new flavors, fortified options, and improved taste profiles to attract a wider consumer base. Effective branding and marketing campaigns play a crucial role in capturing consumers’ attention and building brand loyalty. Companies invest in marketing strategies that highlight the unique selling points of their pea milk products.

Established brands and dairy industry giants have an advantage in terms of extensive distribution networks, allowing them to reach a larger consumer base. However, regional players and start-ups can leverage online platforms and strategic partnerships to enhance their distribution capabilities.

  • In November 2021, Blue Diamond introduced Almond Breeze, an extremely creamy milk created from almonds. The extra-creamy texture of this product is due to the use of almond oil made from quality Blue Diamond almonds grown in California.
  • Molson Coors Beverage’s Golden Wing Barley Milk launch in May 2022 marked the company's entry into the plant-based milk market. This item is available for purchase straight from the manufacturer's website as well as at select Whole Foods Market stores.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Key Segments of Pea Milk Industry Research

  • By Flavor :

    • Original Flavored
    • Vanilla Flavored
    • Chocolate Flavored
    • Barista Flavored
  • By Sweetness :

    • Sweetened
    • Unsweetened
  • By Pack Size :

    • 8 oz
    • 25 to 32 oz
    • 48 oz
  • By Packaging Material :

    • Tetra Packs
    • PET Bottles
  • By End User :

    • Individual Consumers
    • HoReCa
    • Gyms & Cafés
  • By Sales Channel :

    • Brick & Mortar Stores
    • Online Retail Channels
  • By Region :

    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East & Africa

- FAQs -

What is the estimated market value of pea milk in 2023?

The global pea milk market is valued at US$ 51.55 billion as of 2023.

What is the anticipated growth rate for the pea milk market?

The market for pea milk is predicted to expand rapidly at a CAGR of 13.1% from 2023 to 2033.

What is the demand outlook for pea milk for 2033?

Demand for pea milk is anticipated to reach a market value of US$ 176.54 billion by 2033.

What is the projected growth rate for the Japanese market?

The market in Japan is forecasted to rise at a CAGR of 9.9% through 2033.

What is the forecasted growth rate for the pea milk market in South Korea?

The market in South Korea is projected to expand at a CAGR of 10.7% through 2033.

Pea Milk Market

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