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.
What will the Peas Market Size in APAC be During the Forecast Period?
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Peas Market in APAC: Key Drivers, Trends, and Challenges
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.
Parent Market Analysis
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.
Who are the Major Peas Market Vendors in APAC?
The report analyzes the market’s competitive landscape and 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.
- Woolworths Group Ltd.
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.
Product Insights and News
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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.
Peas Market in APAC Value Chain Analysis
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:
- Inputs
- Inbound logistics
- Primary processing
- Secondary and tertiary processing
- Outbound logistics
- End-customers
- Marketing and sales
- Service
- Innovation
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Peas Market in APAC?
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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.
What are the Revenue-generating Type Segments in the Peas Market in APAC?
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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. |
What are the Key Data Covered in this Peas Market in APAC Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive peas market growth in APAC during the next five years
- Precise estimation of the peas market size in APAC and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the peas industry in APAC across China, Australia, India, and Rest of APAC
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of peas market vendors in APAC
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