Market Size of North America Peas Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 3.46 Billion |
| Market Size (2029) | USD 6.32 Billion |
| CAGR (2024 - 2029) | 12.80 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
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North America Peas Market Analysis
The North America Peas Market size is estimated at USD 3.46 billion in 2024, and is expected to reach USD 6.32 billion by 2029, growing at a CAGR of 12.80% during the forecast period (2024-2029).
- Peas are annual pulse legume crops consumed throughout North America and grown in cold climates. Peas are the second most valuable canned food after tomatoes in the United States. The region's economic and sustainable land base with a good transportation network makes it an ideal location to grow peas.
- According to the FAO, in the United States, the total area harvested for green peas accounted for 51,193 hectares in 2020, followed by 52,448 hectares in 2021. Rising adoption of frozen vegetable imports rose by 9% to USD 1.4 billion. Imports continued to garner ever-larger shares of domestic markets for frozen green peas in 2022.
- The demand for plant protein has gained traction in North America. North America accounted for the major global revenue share, dominating the pea protein industry. Consumption of high-protein food has increased rapidly in response to rising health consciousness. Consumers are driven to find nutrients in packaged food products, creating a significant market for pea protein powder and driving the region's pea market.
- North America is the world's largest producer and exporter of dried peas. Canada dominates the region's pea production and export market, with a volume of 2.2 million metric ton production in 2021, followed by the United States. The varieties of peas grown in the region are yellow, green, and Austrian winter peas. Yellow and green peas account for two-thirds of North American peas production.
North America Peas Industry Segmentation
Pea is a small round green seed eaten as a vegetable. Pea protein is popularly added to veggie burgers, energy bars, and popcorn to milk, yogurt, and ice cream.
The North American peas market includes a detailed analysis of production (volume), consumption (volume and value), import (volume and value), export (volume and value), and price trends. The market size is provided in USD million in terms of value and volume in metric ton for the above-mentioned segments.
| United States | |
| Production Analysis | |
| Consumption Analysis | |
| Import Analysis by Volume and Value | |
| Export Analysis by Volume and Value | |
| Price Trend Analysis |
| Canada | |
| Production Analysis | |
| Consumption Analysis | |
| Import Analysis by Volume and Value | |
| Export Analysis by Volume and Value | |
| Price Trend Analysis |
| Mexico | |
| Production Analysis | |
| Consumption Analysis | |
| Import Analysis by Volume and Value | |
| Export Analysis by Volume and Value | |
| Price Trend Analysis |
North America Peas Market Size Summary
The North America peas market is poised for significant growth, driven by increasing consumer demand for plant-based proteins and health-conscious food options. Peas, as a staple pulse legume, are extensively cultivated in the region's cold climates and are a key component of the canned food industry, second only to tomatoes in the United States. The region's robust transportation infrastructure and favorable economic conditions make it an ideal hub for pea production. The rising popularity of vegan diets and the global trend towards non-GMO and gluten-free products are further propelling the market. North America, particularly Canada, leads in pea production and export, with yellow and green peas dominating the output. The market is also benefiting from the liberalization of trade agreements like NAFTA and USMCA, which enhance trade dynamics within North America.
The demand for pea protein is on the rise, fueled by a growing health consciousness and the need for sustainable protein sources. This trend is reflected in the increasing consumption of high-protein foods and the introduction of new plant-based products. The market is also seeing a surge in interest from developing countries, where peas are crucial in addressing protein-energy malnutrition. Despite fluctuations in production and export volumes, the market remains resilient, with Canada and the United States playing pivotal roles in global trade. The focus on organic and textured pea protein, along with strategic trade agreements, is expected to sustain the market's growth trajectory in the coming years.
North America Peas Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Value Chain Analysis
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2. MARKET SEGMENTATION
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2.1 United States
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2.1.1 Production Analysis
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2.1.2 Consumption Analysis
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2.1.3 Import Analysis by Volume and Value
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2.1.4 Export Analysis by Volume and Value
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2.1.5 Price Trend Analysis
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2.2 Canada
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2.2.1 Production Analysis
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2.2.2 Consumption Analysis
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2.2.3 Import Analysis by Volume and Value
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2.2.4 Export Analysis by Volume and Value
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2.2.5 Price Trend Analysis
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2.3 Mexico
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2.3.1 Production Analysis
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2.3.2 Consumption Analysis
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2.3.3 Import Analysis by Volume and Value
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2.3.4 Export Analysis by Volume and Value
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2.3.5 Price Trend Analysis
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North America Peas Market Size FAQs
How big is the North America Peas Market?
The North America Peas Market size is expected to reach USD 3.46 billion in 2024 and grow at a CAGR of 12.80% to reach USD 6.32 billion by 2029.
What is the current North America Peas Market size?
In 2024, the North America Peas Market size is expected to reach USD 3.46 billion.
