Pea Milk Market Size, Share, Growth Analysis, By Flavor(Original, Unsweetened, Vanilla, and Chocolate), By Packaging type(Bottles and Aseptic Cartons), By Distribution Channel(Retail Stores, Supermarkets/Hypermarkets, E-commerce, and Others), By Region - Industry Forecast 2024-2031

Global Pea Milk Market size was valued at USD 14.04 billion in 2022 and is poised to grow from USD 15.50 billion in 2023 to USD 34.20 billion by 2031, growing at a CAGR of 10.4% in the forecast period (2024-2031).

The global pea milk market is witnessing exponential growth recently as a result of changing consumer preferences and rising demand for plant-based alternatives that do not contain dairy. The upscale of the market can be accredited to several factors, including an increasing awareness of health and environmental concerns resulting in a shift in consumer tastes.

Lactose intolerant consumers are on the lookout for products that are a tasty yet sustainable replacement of traditional dairy products. Keeping these developments in mind, producers are experimenting to enhance the taste and consistency of pea milk, turning it into a viable choice for a growing base of consumers.

A wide range of culinary applications use pea milk, such as cereal, coffee, and baking, proving the versatility of the product and furthering market growth. The previously mentioned pattern suggests the pea milk market is slated for continuous growth in coming years if it can easily adapt to the ever-evolving consumer preferences.

The steady growth of the global pea market can be seen clearly in North America, which holds the largest market share, due to rising demand for dairy substitutes and early adoption of plant-based diets. However, market growth can be shackled by a few restraints, and the industry must safeguard against those obstacles.

Limited consumer awareness poses a serious threat to the global pea milk market, though it can be fought with spreading knowledge about the benefits of the product to expand awareness. In conclusion, the global pea milk market is predicted to experience further growth in coming years.