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Industry Insights, Market Size, CAGR, High-Level Analysis: Pea Flakes MarketThe global pea flakes market size was valued at USD 1.8 billion in 2018. Growing incorporation of pea flakes in a variety of food delicacies and increasing awareness regarding its health benefits among fitness enthusiasts are anticipated to boost the market growth in the forecast period. Demand for pea flakes in animal feed is rising as they are a proven source of essential nutrients and are easy to digest. Rising awareness among people regarding the healthy benefits of protein-rich pea flakes, especially in the developing economies such as India, China, and Brazil is expected to remain a key factor in drawing more demand.Over the past few years, demand for pea flakes has increased owing to their high nutritional value, easy to cook, and quick digestion capabilities. The high protein content in these products is boosting their demand amongst sportspersons, athletes, and people working out in gym. Furthermore, they are used in salad toppings, breadcrumbs, instant soups, and a variety of food products. Easy availability of these products that can be consumed directly by adding water to it is one of the key factors propelling the product demand. The presence of amino acid lysine in these products is an essential nutrient for animals, thus pea flakes are extensively used as an animal feed. During crushing and flattening of pea flakes, starch gets broken down, thereby making it easy to digest. Pea flakes are also high in calories and act as a tempting snack for pets since they are easily digestible. Moreover, they have more consistency and high solubility in water that makes them quite sustainable aqua feed and can be consumed by juvenile fishes as well. These factors are expected to generate more demand for this market over the coming years.
Type Insights of Pea Flakes MarketYellow pea flakes are high in protein and other nutritional essentials. A 100 gram of yellow pea flakes consists of 144 calories, less than 1 gram of fat, 10 grams of protein, 2 mg of sodium, 26 grams of cholesterol, 10 grams of protein, and no cholesterol. Yellow pea flakes are quite popular since yellow peas have been traditionally incorporated as a staple food as compared to green ones. Green pea flakes are equally rich in nutritional content and are widely accepted across the globe. A 100 gram of green pea flakes contains 81 Kcal of energy, 14.46 grams of carbohydrates, 5.42 grams of protein, 5.1 grams of dietary fibers, and zero cholesterol. Yellow pea flakes tend to have a milder flavor than the slightly sweeter green pea flakes. However, green pea flakes are expected to generate more demand in the coming years owing to their high nutritional value and presence of a fair amount of antioxidants and fiber.
Distribution Channel InsightsHypermarket/supermarket led the market in 2018 and generated a revenue of USD 765.7 million. This segment has been gaining traction owing to its benefits such as providing the customers an advantage of scanning the product before purchase. Convenience stores accounted for a significant pea flakes market share in 2018 owing to easy availability of pea flakes. The online segment is expected to expand at the fastest CAGR of 10.6% from 2019 to 2025. Emergence of e-commerce portals as a key selling medium on account of providing value-added services including free-home delivery, cash-on-delivery (COD), overseas shipment facilities, return/exchange policy, and coupon benefits is expected to remain a prominent market trend. Growing preference of consumers in developing economies such as India for Big Basket, Grofers, and Dunzo is driving the online segment.
Application Insights of Pea Flakes MarketApplication of pea flakes in food processing accounted for the largest share of 35.7% in 2018 since they are widely used in a variety of food products such as salads, sandwiches, and soups. They are known to be rich sources of vitamins and fiber. Moreover, they energize metabolism and help in converting food into energy. Application of pea flakes in animal feed is trending and has gained traction since they contain amino acid lysine and are easy to digest. Pea flakes have more consistency and high water solubility, which makes them a sustainable aqua feed that can be consumed by small fishes. In households, there has been an upscale in demand for pea flakes due to growing awareness regarding the health benefits offered by them. Fitness oriented people are using pea flakes as a substitute for breakfasts or meals owing to their high energy, protein, and low fat source.
Regional Insights of Pea Flakes MarketNorth America dominated the market, accounting for 35.2% share of the total revenue in 2018. Growing demand for pea flakes to tackle health issues like obesity, high blood pressure, and other nutritional deficiencies is expected to remain a key factor driving the market, especially in U.S. Furthermore, availability of these products at cheaper rates and high spending capacity of the people in developed economies are propelling the market growth in this region. Europe held a significant market share in 2018. Prominent markets of this region include Germany, Spain, France, and U.K. Increasing application of these products in a variety of food products, animal feed, and households is expected to drive the market in this region. Asia Pacific is anticipated to witness significant growth in the coming years owing to growing working class population and increasing disposable income in developing economies like China and India.
Market Share Insights of Pea Flakes MarketKey players in this market include Garden Valley Foods; Gemef Industries (Sotexpro); PE Levona; JR Farm; BP Milling; Dumoulin S.A.; Green Foods LLP; and Inland Empire Foods Inc. Companies are focusing on introducing natural ingredient based pea flakes, especially for the animal feed category. For instance, Wheeky Pea Flakes by Wheeky Pets, LLC are 100 percent natural ingredient based and are grown, processed, and packaged in U.S. This product is light and crispy and serves as a nice treat for the Wheeky Treat Balls suited especially for guinea pigs, rabbits, hamsters, and other small pets.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Pea Flakes Market Research ReportThis report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global pea flakes market report on the basis of application, type, distribution channel, and region:
Application Outlook (Revenue, USD Million, 2019 - 2030)
- Food Processing
- Animal Feed
- Aqua Feed
Type Outlook (Revenue, USD Million, 2019 - 2030)
Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030)
- Convenience Stores
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database 1.3.2. GVR’s Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization 1. | read more...