Plant based milk alternatives are gaining immense popularity across the globe mainly attributed to growing trend towards clean label products. Today consumers worldwide are demanding for drinks that are organic and at the same time healthy. Growing demand for plant based dairy drinks is delivering incremental growth to the overall market for pea milk. Increasing demand for drinks that are protein enriched with minimal sugar content coupled with increasing lactose intolerant population is further spurring the market revenues of the global pea milk market.
The toughest challenge hindering the growth of pea milk is its cost. Pea milk is priced 30% more than organic dairy milk which is limiting its consumption among cost-conscious consumers. Also, slow acceptance of this product among the consumers is also expected to hinder its market revenue generation over the forecast period.
Global Pea Milk market is anticipated to embark on growth trajectory identified with several core factors and elements such as dominant trends and technological developments, along with prominent growth drivers and retardants that collectively influence overall growth scenario in global Pea Milk market.Further in the report readers are offered details on competition mapping that includes details on complete overview of major players. This section of the report categorically focuses on the versatility of manufacturer segment, highlighting prominent players. Each vendor profile has been assessed on the basis of stringent analytical parameters and research practices such as SWOT analysis.
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Pea Milk Market Key Players:
Key player operating in the global pea milk market includes, Ripple Foods. The company bought the product to the market place in 2015 with the aim to provide plant based dairy products. Pea milk is a rich source of protein, vitamin D, iron and DHA omega-3s, which are essential fatty acids. Other manufacturers are trying to incorporate the technology in order to bring other pea based dairy drinks in the market.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
Pea Milk Market Segmentation:
The global pea milk market is segmented by packaging, by end user, by flavor, sales channels by region. By packaging the global pea milk market is segmented into, carton packaging and bottles. Manufacturer of pea milk are targeting kids by launching pea milk in small carton packages in order to generate significant revenues. By end user the global pea milk market is segmented into, adults and children’s. By flavor the global pea milk market is segmented into, vanilla, chocolates and others. Growing demand for different flavors is pushing manufacturers to bring drinks with different flavors in the market which is further pushing the revenue generation from the segment. By sales channel the global pea milk market is segmented into, supermarkets/hypermarkets, e-Commerce, convenience stores and other retail formats. Supermarkets/ hypermarkets and e-commerce sales channel segments are expected to deliver strong opportunities in the overall pea milk market over the forecast period.
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Market Segmentation, by regions:
- North America (U.S., Canada, Mexico)
- South America (Cuba, Brazil, Argentina, and many others.)
- Europe (Germany, U.K., France, Italy, Russia, Spain, etc.)
- Asia (China, India, Russia, and many other Asian nations.)
- Pacific region (Indonesia, Japan, and many other Pacific nations.)
- Middle East & Africa (Saudi Arabia, South Africa, and many others.)
Major takeaways from Pea Milk market report:
- COVID-19 impact on the profit graph
- Detailed assessment of market size, sales volume, and gross market valuation
- Growth prospects
- Present market trends
- Growth rate predictions
- Advantages and disadvantages of direct & indirect sales channels
- Profiling of dealers, traders, and distributors in industry sphere
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