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The peas market share in APAC is expected to increase by USD 267.04 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.51%.
This peas market in APAC research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers peas market segmentation in APAC by type (conventional and organic) and geography (China, Australia, India, and Rest of APAC). The peas market in APAC report also offers information on several market vendors, including B and G Foods Inc., BONDUELLE SA, Conagra Brands Inc., Heinz Watties Ltd., McCain Foods Ltd., Meijer Inc., Waitrose Ltd., Walmart Inc., Wm Morrison Supermarkets Ltd., and Woolworths Group Ltd. among others.
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The expanding global vegan population base is notably driving the peas market growth in APAC, although factors such as distribution challenges may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the peas industry in APAC. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Peas Market Driver in APAC
One of the key factors driving growth in the peas market in APAC is the expanding global vegan population base. The expanding global vegan population base is one of the primary growth drivers of the peas market in APAC. With the rising awareness about the various health benefits of vegan diets, the number of people adopting vegan lifestyles is increasing around the globe. Vegan diets provide more fiber, antioxidants, and beneficial plant compounds. They are also rich in potassium, magnesium, folate, and vitamins A, C, and E. Vegan diets help to improve kidney function, lower blood sugar levels, and vegan diets lower the risk of heart diseases. It is estimated that the number of consumers opting for plant-based diets such as peas proteins over animal-based diets is increasing, and the trend is more common among millennials. The number of millennials adopting the vegan lifestyle is also increasing in various countries. Thus, the growing vegan population will drive the growth of the peas market during the forecast period.
Key Peas Market Trend in APAC
The increasing health consciousness is a peas market trend in APAC that is expected to have a positive impact in the coming years. The increasing instances of obesity and related diseases are making consumers more health-conscious, and they are demanding food and beverage products that are natural and low in fat and calorie content. To cater to the changing consumer demands, players have started coming up with new plant-based products that have lower fat and calorie content. The health and wellness trend is gaining popularity among consumers, especially young consumers, in the age group of 18-32 years. Many consumers are also ready to pay a premium price for healthy products that offer various functional benefits. Thus, the increasing demand for healthy food and beverage products will drive the growth of the peas market in APAC during the forecast period.
Key Peas Market Challenge in APAC
The distribution challenges will be a major challenge for the peas market in APAC during the forecast period. Retail stores such as supermarkets and large chains of discount or convenience stores are important distribution portals for manufacturers of peas-based products. However, this presents some serious challenges for the manufacturers, such as pressure on the manufacturers regarding the prices and margins from the product as retail stores operate at a lower profit margin, rising demands from retailers to manufacturers for frequent and smaller product deliveries to reduce warehousing costs, increasing expectations from retailers for manufacturers to come up with innovative merchandising units like movable shelves that can be rolled when fully stocked to reduce the replenishment cost of the store and the growing eagerness of retailers to avoid the decline in revenues resulting from the gaps in inventory by making the order fulfillment rate a key factor in developing a relationship with a vendor. Channel shifts by consumers force manufacturers to develop new skills in category management. Shoppers have shown more inclination toward convenience stores, which has forced manufacturers to find a suitable balance between price and volume. These factors can restrict the growth of the peas market in APAC.
This peas market in APAC analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the peas market in APAC as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the peas market in APAC during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the peas market in APAC encompasses successful business strategies deployed by the key vendors. The peas market in APAC is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
B and G Foods Inc. -The company offers peas which is easy to prepare to add in a variety of recipes and has less sodium, under the brand name of Le Sueur.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The peas market in APAC forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the peas market in APAC, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of packaged foods and meats market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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27% of the market's growth will originate from China during the forecast period. Market growth in this region will be slower than the growth of the market in other regions.
The growth of the plant-based protein products market will facilitate the peas market growth in China over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic has compelled Chinese consumers to change their eating habits and embrace new shopping practices to cope with the global outbreak. The threat of infection reinforces the importance of a healthy immune system, unlocking new opportunities for brands to innovate immunity to ward off future diseases. Due to the outbreak, the demand for pea proteins and pea products has increased to boost immunity, increasing the demand for healthy food products. However, the demand-supply gap due to the imposition of nationwide lockdowns hindered the growth of the regional organic products market in 2020 and 2021.
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The peas market share growth in APAC by the conventional segment will be significant during the forecast period. In the peas market, peas are produced through conventional farming. In conventional farming, chemical intervention is there to control pests and weeds and promote plant growth. Conventional farming products are cheap as compared to organic products. As the majority of the population is shifting toward healthy and chemical-free food, the demand for conventional peas is expected to decrease during the forecast period in APAC region.
This report provides an accurate prediction of the contribution of all the segments to the growth of the peas market size in APAC and actionable market insights on post COVID-19 impact on each segment.
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Peas Market Scope in APAC |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.51% |
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Market growth 2022-2026 |
$ 267.04 million |
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Market structure |
Fragmented |
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YoY growth (%) |
2.98 |
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Regional analysis |
APAC |
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Performing market contribution |
China at 27% |
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Key consumer countries |
China, Australia, India, and Rest of APAC |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
B and G Foods Inc., BONDUELLE SA, Conagra Brands Inc., Heinz Watties Ltd., McCain Foods Ltd., Meijer Inc., Waitrose Ltd., Walmart Inc., Wm Morrison Supermarkets Ltd., and Woolworths Group Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
***1. Executive Summary
**1.1 Market Overview
*Exhibit 01: Key Finding 1
*Exhibit 02: Key Finding 2
*Exhibit 03: Key Finding 3
*Exhibit 04: Key Finding 5
*Exhibit 05: Key Finding 6
*Exhibit 06: Key Finding 7
***2. Market Landscape
**2.1 Market ecosystem
*Exhibit 07 Parent market
*Exhibit 08: Market characteristics
**2.2 Value Chain Analysis
*Exhibit 09: Value Chain Analysis: Packaged foods and meats
*2.2.1 Input
*2.2.2 Inbound logistics
*2.2.3 Primary processing
*2.2.4 Secondary and tertiary processing
*2.2.5 Outbound logistics
*2.2.6 End-customers
*2.2.7 Marketing and sales
*2.2.8 Services
*2.2.9 Innovations
***3. Market Sizing
**3.1 Market definition
*Exhibit 10: Offerings of vendors included in the market definition
**3.2 Market segment analysis
*Exhibit 11: Market segments
**3.3 Market size 2021
**3.4 Market outlook: Forecast for 2021 - 2026
*Exhibit 12: Global - Market size and forecast 2021 - 2026 ($ million)
*Exhibit 13: Global market: Year-over-year growth 2021 - 2026 (%)
***4. Five Forces Analysis
**4.1 Five Forces Summary
*Exhibit 14: Five forces analysis 2021 - 2026
**4.2 Bargaining power of buyers
*Exhibit 15: Bargaining power of the buyer
**4.3 Bargaining power of suppliers
*Exhibit 16: Bargaining power of the supplier
**4.4 Threat of new entrants
*Exhibit 17: Threat of new entrants
**4.5 Threat of substitutes
*Exhibit 18: Threat of substitutes
**4.6 Threat of rivalry
*Exhibit 19: Threat of rivalry
**4.7 Market condition
*Exhibit 20: Market condition - Five forces 2021
***5. Market Segmentation by Type
**5.1 Market segments
*The segments covered in this chapter are:
*Exhibit 20: Type - Market share 2021-2026 (%)
**5.2 Comparison by Type
*Exhibit 21: Comparison by Type
**5.3 Conventional - Market size and forecast 2021-2026
*Exhibit 23: Conventional - Market size and forecast 2021-2026 ($ million)
*Exhibit 24: Conventional - Year-over-year growth 2021-2026 (%)
**5.4 Organic - Market size and forecast 2021-2026
*Exhibit 25: Organic - Market size and forecast 2021-2026 ($ million)
*Exhibit 26: Organic - Year-over-year growth 2021-2026 (%)
**5.5 Market opportunity by Type
*Exhibit 27: Market opportunity by Material
***6. Customer landscape
*Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
**6.1 Overview
*Exhibit 28: Customer landscape
***7. Geographic Landscape
**7.1 Geographic segmentation
*The regions covered in the report are:
*Exhibit 29: Market share by geography 2021-2026 (%)
**7.2 Geographic comparison
*Exhibit 30: Geographic comparison
**7.3 China - Market size and forecast 2021-2026
*Exhibit 31: China - Market size and forecast 2021-2026 ($ million)
*Exhibit 32: China - Year-over-year growth 2021-2026 (%)
**7.4 Australia - Market size and forecast 2021-2026
*Exhibit 33: Australia - Market size and forecast 2021-2026 ($ million)
*Exhibit 34: Australia - Year-over-year growth 2021-2026 (%)
**7.5 India - Market size and forecast 2021-2026
*Exhibit 35: India - Market size and forecast 2021-2026 ($ million)
*Exhibit 36: India - Year-over-year growth 2021-2026 (%)
**7.6 Rest of APAC - Market size and forecast 2021-2026
*Exhibit 37: Rest of APAC - Market size and forecast 2021-2026 ($ million)
*Exhibit 38: Rest of APAC - Year-over-year growth 2021-2026 (%)
**7.7 Market opportunity by geography
*Exhibit 39: Market opportunity by geography ($ million)
***8. Drivers, Challenges, and Trends
**8.1 Market drivers
*8.1.1 Expanding global vegan population base
*8.1.2 Growing consumption due to health benefits
*8.1.3 Increasing adoption of legumes for various applications
**8.2 Market challenges
*8.2.1 Distribution challenges
*8.2.2 Presence of various substitutes
*8.2.3 Presence of stringent government regulations
*Exhibit 40: Impact of drivers and challenges
**8.3 Market trends
*8.3.1 Increasing health consciousness
*8.3.2 High consumption of pea-based snacking items
*8.3.3 Growing popularity of veganism
***9. Vendor Landscape
**9.1 Overview
*Exhibit 41: Vendor landscape
**9.2 Landscape disruption
*Exhibit 42: Landscape disruption
*Exhibit 43: Industry Risk
***10. Vendor Analysis
**10.1 Vendors covered
*Exhibit 44: Vendors covered
**10.2 Market positioning of vendors
*Exhibit 46: ?Market positioning of vendors?
**10.3 B and G Foods Inc.
*Exhibit 46: B and G Foods Inc. - Overview
*Exhibit 47: B and G Foods Inc. - Product and service
*Exhibit 48: B and G Foods Inc. - Key offerings
**10.4 BONDUELLE SA
*Exhibit 49: BONDUELLE SA - Overview
*Exhibit 50: BONDUELLE SA - Business segments
*Exhibit 51: BONDUELLE SA - Key offerings
*Exhibit 52: BONDUELLE SA - Segment focus
**10.5 Conagra Brands Inc.
*Exhibit 53: Conagra Brands Inc. - Overview
*Exhibit 54: Conagra Brands Inc. - Business segments
*Exhibit 55: Conagra Brands Inc. - Key offerings
*Exhibit 56: Conagra Brands Inc. - Segment focus
**10.6 Heinz Watties Ltd.
*Exhibit 57: Heinz Watties Ltd. - Overview
*Exhibit 58: Heinz Watties Ltd. - Product and service
*Exhibit 59: Heinz Watties Ltd. - Key offerings
**10.7 McCain Foods Ltd.
*Exhibit 60: McCain Foods Ltd. - Overview
*Exhibit 61: McCain Foods Ltd. - Product and service
*Exhibit 61: McCain Foods Ltd. - Product and service
*Exhibit 63: McCain Foods Ltd. - Key offerings
**10.8 Meijer Inc.
*Exhibit 64: Meijer Inc. - Overview
*Exhibit 65: Meijer Inc. - Product and service
*Exhibit 66: Meijer Inc. - Key offerings
**10.9 Waitrose Ltd.
*Exhibit 67: Waitrose Ltd. - Overview
*Exhibit 68: Waitrose Ltd. - Product and service
*Exhibit 69: Waitrose Ltd. - Key news
*Exhibit 70: Waitrose Ltd. - Key offerings
**10.10 Walmart Inc.
*Exhibit 71: Walmart Inc. - Overview
*Exhibit 72: Walmart Inc. - Business segments
*Exhibit 73: Walmart Inc. - Key offerings
*Exhibit 74: Walmart Inc. - Segment focus
**10.11 Wm Morrison Supermarkets Ltd.
*Exhibit 75: Wm Morrison Supermarkets Ltd. - Overview
*Exhibit 76: Wm Morrison Supermarkets Ltd. - Product and service
*Exhibit 77: Wm Morrison Supermarkets Ltd. - Key offerings
**10.12 Woolworths Group Ltd.
*Exhibit 78: Woolworths Group Ltd. - Overview
*Exhibit 79: Woolworths Group Ltd. - Business segments
*Exhibit 80: Woolworths Group Ltd. - Key offerings
*Exhibit 81: Woolworths Group Ltd. - Segment focus
***11. Appendix
**11.1 Scope of the report
*11.1.1 Market definition
*11.1.2 Objectives
*11.1.3 Notes and caveats
**11.2 Currency conversion rates for US$
*Exhibit 82: Currency conversion rates for US$
**11.3 Research methodology
*Exhibit 83: Research Methodology
*Exhibit 84: Validation techniques employed for market sizing
*Exhibit 85: ??Information sources
**11.4 List of abbreviations
*Exhibit 86: List of abbreviations
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