Pea Milk Market Projected to Reach $251.2 Million by 2027
A new report from Allied Market Research forecasts steady growth for the global pea milk sector, driven by rising plant-based consumption and increasing instances of lactose intolerance.
The global pea milk market is forecast to grow from a valuation of $122.9 million in 2019 to $251.2 million by 2027, according to research published by Allied Market Research. This expansion represents a compound annual growth rate of 10.5%.
Market demand is primarily fueled by a shift toward plant-based diets and a rise in the global vegan population. Health-related factors, including the prevalence of lactose intolerance and concerns regarding fat intake, are further incentivizing consumers to switch to dairy-free alternatives. Yellow peas, the primary ingredient, are often highlighted for their nutritional profile.
North America led the global market in 2019 and is expected to maintain this position due to regional consumer openness to natural ingredients. While the market sees growth through new product varieties and improved packaging, industry expansion faces headwinds from raw material price volatility and high extraction costs.
Key industry players, including Nestlé SA, Ripple Foods, and Sproud, are leveraging acquisitions and product launches to consolidate their market presence. The report identifies retail stores as a primary distribution channel, though e-commerce is also contributing to overall sector growth.