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Field Peas Market Research Report – Global Forecast till 2027

Field Peas Market for Pet Food Research Report: by Type (Peas, Chickpeas, Others), by Application (Dog Food, Cat Food, Others), and Region - Global Forecast till 2027

ID: MRFR/AGR/5860-CR | January 2019 | Region: Global | 114 Pages         

Field Peas Market

Field Peas Market is expected to grow at a 7.43% CAGR and reach USD 5,523.2 Million by 2030.

Segmentation

By Type Peas Chickpeas Others
By Application Dog Food Cat Food Others

Key Players

  • AGT Food and Ingredients Inc. (Canada)
  • Palouse Brand (U.S.)
  • Ceres Global Ag Corp (U.S.)
  • Crites Seed Inc. (Europe)
  • George F. Brocke & Sons Inc. (U.S.)
  • Columbia Grain International LLC (U.S. Great Northern AG (U.S.)

Drivers

  • Increased pet population
  • Nutritional benefits
  • Product innovation

Market Overview:
The global field peas market is expected to reach USD 2,417.6 million USD by the end of 2024. In the forecast period of 2018-2024, the field peas market is expected to have a CAGR of 5.85%. This high rate is because of the rapid increase in the adoption of pets across the world. Other factors that contribute to the growth of the field peas industry value are the increase in the owners' per capita income and the rapid increase in urbanization. The major reason for field peas gaining so much popularity as a portion of pet food is their nutritional value. These can fulfil the need for vitamins and minerals for the pets, subsequently proving the health benefits of field peas. Not to forget the fiber they contain, which helps in the proper digestion in the pets.


According to the reports, the field peas market is expected to touch 3,869.4 thousand tons by the year 2024. This growth is majorly the beach of the manufacturing units that have been catering to the let owners' demands very well. But some pets are allergic to peas which create an instruction up the growth of the market.


COVID-19 Analysis:
COVID era has been unpredictable when not just the individuals but even the business at all levels have suffered badly. They seem to have lost a crucial period that obviously won't come back, but one thing that can be made sure of is that they can be restored to the place where they were before the Covid times and then slowly move towards the growth from there. The reports that have been prepared are the work of the experienced analyst. The in-depth analysis and the research has been taught in the reports provided to them. The reports provide the methods to self-abuse themselves by looking at the current field peas market and related scenarios. Also, the strategies and plans implemented by the major players have been included in the reports. The reports also have qualitative and quantitative insights into the global field peas market for the good of the business owners.


Market Dynamics:
The market dynamics of the field global market research is dependent upon many driving factors, which are:



  • Increased pet population: Most of the regions worldwide have been experiencing an increase in the population of pets. With this increase, the owners have also been getting more vigilant about making sure that their pet gets the best food and hence have been moving towards the option of field peas and snaps for their food.

  • Nutritional benefits: The health benefits of field peas for pets are numerous like regulating their blood sugar and boosting immunity and ensuring that the pets' protein requirements are fulfilled completely.

  • Product innovation: The manufacturers of pet food have been making regular pet food innovation using field peas. This has been one of the major factors which are responsible for the growth of the market.


On the other hand, some factors have been his training regrowth of the field peas market. The major one is the fact that few of the pets are allergic to peas. Moreover, the cost of the field peas food is competitively higher than the other pet food, which comes as another restraint in the market's growth.

Regulatory Implications:
The regulatory implications on the field pea market are not very supportive as they should have been. They are an alternative to the meat products for providing the protein requirements to the animals should have more support from the regulatory bodies. However, these are being promoted but not to the expected level. There are no such laws against the market because of such high nutritional value of field peas and the supplements they have been providing.


Segmentation Overview:
The field peas market can be classified into two major types of field peas:



  1. Based on types

  2. Based on application


Based on Types: This segmentation further has the following subdivisions:



  • Chickpeas

  • Peas

  • Others


Among all the types of field peas, the chickpeas segment is expected to witness a CAGR OF 6.51% over the forecast period. It has also been estimated that this segment would demand almost 956.8 thousand tins by the end of 2024. The major factors that chickpeas are gaining so much importance are their high nutritious value. Also, the legumes can maintain high immunity and regulate the blood sugar levels in pets. At the same time, the peas segment is expected to touch 1535.7 million USD by 2024.


Based on Application: The market can be subdivided into the following categories based on the application:



  • Dog food

  • Car food

  • Others


Dog food is the largest segment in the field peas industry value based on the application. It is expected to be close to a value of around 1,475.9 million by 2024. It is expected to reach a CAGR of 4.84% in the forecast period. Simultaneously, the CAGR of the cat food segment in the global field peas market is estimated to reach a value of 654.7 million by 2024.


Regional Analysis:
Based on the regions, the field peas market is divided into the following:



  • North America

  • Europe

  • Asia Pacific

  • Rest of the world


The region that is expected to dominate the market is Europe. North America then follows it. The brands involved in pet foods production have been engaged in bringing new products and food that are grain-free. These have been the biggest driving factors in the areas that dominate the market. A lot of emphases are given to pet care and well-being in North America, and therefore, the region is expected to gain more popularity in the market.


Europe exhibits a CAGR of 5.71%, the value in North America is 5.56%, whereas the value of CAGR in the Asia Pacific is 6.51%. Europe accounts for almost 34.5% of the toal market, North America has a 31.1% share, and Asia Pacific has a share of 22.1%. The remaining 12.3%share one that the rest of the world has.


Competitive Landscape:
The major players in the field peas market are:


AGT Food and Ingredients, Inc. (Canada), Palouse Brand (U.S.), Ceres Global Ag Corp (U.S.), Crites Seed Inc. (Europe), George F. Brocke & Sons Inc. (U.S.), Columbia Grain International, LLC (U.S. and Great Northern AG (U.S.)


All these key players have always made sure to maintain integrity and professionalism in the field peas market. The strategies planning and the implementations have led them to reach the heights of success. They have been the role model for many new startups and small scale industries. Not only for themselves, but they have always looked after the market as a whole and have been able to take the market to such heights. Innovations have been the driving factor in the growth of the market.


Recent Developments:
Few recent developments in the field peas market are:



  1. Advancements have been made in the cultivation process of the field peas and snaps. The hybrids with desirable characteristics have been cultivated that have been yielding good results.

  2. The advancement in technologies has also been administered in the processing stage of the field peas.

  3. Various manufacturing units have been working in innovating different foods using the field peas.

  4. New advancements have been bought at all levels starting from cultivating to manufacturing and even in the packaging.

  5. The nutritional value of field peas has been restored, if not increased, in all the foods that the field peas have prepared.


Report Overview:
The report provided to the business owners and the associates has everything they would look for to ensure they are up to date with the market standards. Apart from studying the market size and the recent trends in the market, it also gives the field pea market's development status. Other things included in the report are the opportunities for investments, the policies laid down by the government and the market dynamics. The reason that the technological advancements have been added in the report is mainly to ensure that the organisations can optimize their products' quality and performance. The reports have been prepared after the in-depth study and analysis by the experts of the industry. The present market scenario and the qualitative and quantitative analysis of the market is also covered in all the reports.



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Frequently Asked Questions (FAQ) :

During the forecast period, the expected CAGR of the global field peas market is 5.85%

The expected CAGR of the global field peas market is 2,417.6 million by 2024

The region that is expected to lead the global field peas market is Europe.

The primary application of field oasis Dog food, cat food and others

High prices and pet allergies to peas the major factors that limit the growth of the field peas market

Continuous product innovation in the pet food has resulted to increase the usage of field peas in the production process of pet food


Major key players listed in the global field peas market for pet food include AGT Food and Ingredients Inc. (Canada), Ceres Global Ag Corp. (US), George F. Brocke & Sons Inc. (US), Great Northern AG. (US), Columbia Grain International, LLC (Oregon), and among others. North America is the attractive regions among the manufacturers of field peas. North America region has accounted for 31.00% of market proportion in the year of 2018 and it is projected to expand at a moderate growth during the forecast period of 2018-2024.  Expanding product portfolio of field peas by the key manufacturers is one of the significant factors for the rising growth of the market in North America region. Moreover, increasing pet humanization in North American countries, especially in the U.S. is expected to fuel the growth of field peas during the forecast period of 2018-2024. Rising popularity of grain-free pet food products is considered to be one of the major factors for the increasing growth of the market. Private labels stores are focusing on unique product portfolio which is expected to enhance the growth of field peas market in pet food.


Major manufacturers also are found to have high focus on expansion in order to tap all markets across the globe with the support of strategic distribution agreement which will further support the company to expand and reach out to consumers across the regions. Promotional activities and high investment in joint ventures is also witnessed in this market through which the companies are trying to increase its visibility and impact on the consumer’s mind than that of their competitors.


AGT Food and Ingredients are the suppliers of value-added pulses, staple food, and food ingredients in the world. They buy lentils, peas, beans and chickpeas from farmers around 40+ facilities located in Canada, the United States, Turkey, Australia, China and South Africa and ship their products to over 120 countries around the globe. In March 2016, the company announced its fourth manufacturing facility. In October 2015, the company completed the acquisition of Mobil Capital Holdings Ltd. (Mobil) and its subsidiaries for $57.5 million.  


Ceres Global as a company primarily operates into agriculture and commodity logistics. The company is involved in the grain storage, procurement, and merchandising of specialty grains and oilseeds, such as oats, barley, rye, hard red spring wheat, durum wheat, canola, and pulses through six grain storage and handling facilities based in Minnesota, Saskatchewan, as well as Ontario. The company also owns commodities logistics centre, a grain, oil, natural gas liquids, and fertilizer terminal. In May 2018, the company announced that it would jointly own and operate with Consolidated Grain and Barge Co. ("CGB") and form a new company named as Savage Riverport, LLC. The purpose of partnership is to buy, store and ship wheat, corn, soybeans, oats, rye and other products loaded on the TCWR, BNSF, UP and CP railroads, as well as receive truck grain.


George F. Brocke & Sons started initially with processing facilities for small seeds and grass seeds. It then expanded the product line into peas, lentils, rapeseed and garbanzo beans. The company currently has four processing facilities in Kendrick and storage facilities in Kendrick, Juliaetta, Southwick, Troy, Viola and Kennedy Ford Idaho. Peas, lentils, rapeseed and garbanzo beans are presently shipped all over the United States and to nearly every continent in the world, shipping to 51 different ports in 38 different countries. The company majorly emphasize on increasing the product offerings for which it is highly involved in R&D activities. Moreover, the company is continuously focusing on product innovations. Additionally, owing to increasing demand for its products, the company is undergoing production expansions by increasing the capacity of its plant. It is also looking for opportunities to attain geographical expansion both domestically and internationally.


Other major manufacturers include Crites Seed Inc. (Russia), Palouse Brand (US). These companies are focusing on strategic product launch in order to gain the consumer’s acceptance. Moreover, manufacturers are inclined towards the innovative product promotions to strengthen the customer base both in developed and developing economies.