Global Pea Milk Market Forecast to 2030 - COVID-19 Impact and Analysis by Flavor (Original, Vanilla, Chocolate, and Others); Sweetness (Sweetened and Unsweetened); Packaging Type (Bottles and Aseptic Cartons); Distribution Channel (Supermarkets & Hypermarkets, Retail Stores, Online, and Others); and Geography
Global Pea Milk Market Introduction
Pea milk is a pea protein beverage, which is prepared by the use of pea. The pea milk is available in different flavors such as chocolate, vanilla, original, and others. Pea milk is marketed as an eco-friendly alternative to animal-based milk. A rise in the number of vegan and diet-conscious consumers across the world is the major driving factor for the growth of the global pea milk market. The growing popularity of plant-based milk products in the mature and emerging markets is also propelling the growth of the pea milk market during the forecast period 2021-2030. Furthermore, the rise in the number of people allergic to dairy products coupled with the growing concern of lactose intolerance, due to the deficiency of the intestinal enzyme, lactase fuels the demand for the pea milk market. However, the high cost of plant-based milk extraction in the pea milk production process and fluctuation in prices of raw materials may act as the major restraints for the global pea milk market.
An increasing investment in plant-based products to meet surging consumer demand for alternative protein sources along with the growing consumers' focus on improving health and immunity are positively impacts on the growth of the market. Moreover, the increasing lactose intolerant population and rising demand for drinks that are protein enriched with minimal sugar content are further spurring the market growth of the global pea milk. On the contrary, the introduction of new flavors & varieties of pea milk and an upsurge in demand for dairy-free products by the vegan population is expected to provide lucrative growth opportunities for the market player of the pea milk market in the near future.
Global Pea Milk Market Overview
The global pea milk market provides an in-depth analysis of segments and sub-segments, region, and country analysis of the overall growth prospects in the market. The report offers a complete overview of the industry, including both qualitative and quantitative information. The pea milk market report covers a complete analysis and provides market size and forecast estimation from the year 2017 to 2030 based on various segments and sub-segments with respect to four major regions, including North America, Europe, Asia-Pacific (APAC), Latin America & Middle East and Africa (LAMEA). The research report highlights underlying factors such as the drivers, restraints, opportunities, and trends of the global pea milk market over the long as well as short period of time. Furthermore, the global pea milk market report offers PEST analysis, NOISE analysis, improvement Venn diagram, brand recall, perceptual mapping, ecosystem/value chain analysis, Porters five forces analysis, and investment pocket analysis with respect to the market. By examining the data collected from primary and secondary methods, the report offers actionable insights into future growth based on inputs from industry experts to help readers formulate effective strategies. This information can help stakeholders to make appropriate decisions before investing.
Global Pea Milk Market Insights
The market study offers a complete overview of leading companies and their successful marketing strategies and market contribution, such as business overview, financial information, SWOT analysis, and key strategies, such as recent developments, market expansion, partnership, merger & acquisitions, product launch, product update, and other contexts. Players operating in the global pea milk market mainly focus on the adoption of various strategies to expand their footprint across the world and take the initiative for the development of innovative, efficient, and advanced products.
Market mapping or perceptual mapping is the graphical representation of where a brand, product, or service stands among competitors. Market mapping analysis helps to understand the client how their customers perceive their product offering with their competitors for the pea milk market. By identifying their current products and competitor products on the market map, the business can fill an identified gap to compete with the competition actively.
COVID-19 Impact on Global Pea Milk Market
The COVID-19 pandemic has largely impacted globally since December 2019. According to the World Health Organization (WHO) report, the US, India, Russia, Brazil, Italy, France, Argentina, Spain, Colombia, the UK, Germany, and Mexico are some of the worst affected countries due to the COVID-19. The pandemic is hampering the growth of economies worldwide, and it is likely to continue in 2021. The outbreak disrupts various industries, such as manufacturing, construction, automotive, textiles, chemicals, cosmetics, tourism, hospitality, consumer goods, transportation, IT and telecom, pharmaceutical, and among others. This results in several obstacles in the supply chain of raw materials required for packaging, resulting in demand-supply gaps. This scenario is expected to have a large impact on the global pea milk market.
With Corona Virus Disease 2019 (COVID-19) pandemic, the world is fighting against Covid-19 pandemic and also economic pandemic, almost impacting trillions of dollars of revenues. Our company brings a high-level insight as well as very deep insights relevant to several promising markets. The study will cover:
· Rapid shifts in top 100 companies across each sector
· Growth and decline in each sector due to the COVID-19 pandemic
Global Pea Milk Market Segmentation
Global Pea Milk Market by Flavor
Global Pea Milk Market by Sweetness
Global Pea Milk Market by Packaging Type
· Aseptic Cartons
Global Pea Milk Market by Distribution Channel
· Supermarkets & Hypermarkets
· Retail Stores
Global Pea Milk Market by Region
· North America
o Rest of Europe
· Asia-Pacific (APAC)
o South Korea
o Rest of APAC
o Latin America
o Middle East
1. Bolthouse Farms
2. Devon Garden Foods Limited
3. DrinkStar GmbH
4. Euroduna Food Ingredients
5. Freedom Foods Group
7. Kerry Group
8. Mighty Pea (Watkins Drinks Limited)
9. Nestle SA
11. Ripple Foods
12. Snappea Foods
14. SUJA LIFE, LLC
15. Vly Foods
Brand awareness is the methodology by which customers are able to recall or recognize a brand (unaided/aided) under several different conditions with respect to the market. These strategies will help the company make people more aware of your brand, especially by targeting relevant, high-quality audiences for the pea milk market.
Key Questions Answered
· Which region provides more business opportunities for the global pea milk market in the upcoming years?
· Who is the leading overall pea milk market, and what strategies have been adopted by them?
· Which segment accounted for the largest pea milk market share?
· What are the upcoming trends in the global pea milk market? What impact would these trends make in the coming years for the pea milk market?
· Which player offering the best product range for the global pea milk market?
Key Benefits for Stakeholders
· This study presents the analytical description of the pea milk market analysis along with the current trends and future estimations to describe coming up investment pockets
· The complete pea milk market opportunity is resolute by knowing profitable trends to gain a stronger foothold
· The report describes insights associated with key drivers, restraints, opportunities, and trends of the global pea milk market with thorough impact analysis
· The global pea milk market is quantitatively analyzed from 2017 to 2030 to focus on the monetary ability
· PEST analysis defines the potency of the consumers and suppliers in the global pea milk market
· Porters five forces analysis examines the five forces that make a competitive company while identifying its strength and weakness. The analysis will also identify competition, new entrants in the market, supplier power, buyer power, and threat of substitute products and services in the global pea milk market
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