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Market OverviewGlobal Field Peas Market for is getting ample traction from pet food segment. Market Research Future (MRFR) published a report recently saying that the market has ample chance of growth in the said direction along with other prominent areas due to the rising demand for nutrition in several sectors. By 2024, the global field peas market can reach up to a valuation of USD 2417.6 million. The report focuses on a time period of 2020 to 2024 during which it may gain a CAGR of 5.85%.
Rise in per capita income, better awareness regarding the nutritional value, growing demand from the pet food segment, and others are expected to keep the field peas market on its track. Its antioxidant property also plays a prominent role in increasing its market reach.
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Competitive Landscape
Global Field Peas Market for can be assessed on the basis of a contribution made by companies like Ceres Global Ag Corp (U.S.), AGT Food and Ingredients, Inc. (Canada), Great Northern AG (U.S.), Crites Seed Inc. (Europe), Columbia Grain International, LLC (U.S.), George F. Brocke & Sons Inc. (U.S.), and Palouse Brand (U.S.). These companies are relying on methods like mergers, collaborations, acquisitions, innovations, better plans for investment in the research and development sector, launching patterns, branding, and others to boost the expansion process. These will also help in setting a wider portfolio for the companies and ensure better traction in the coming days. MRFR recorded the latest steps taken by these companies to gauge the market in a better way.
Industry News
In May 2020, researchers from the Clemson Plant and Environmental Sciences Department revealed that they would help the regional farmers of North Carolina with various technological supports. The researchers are mainly focusing on the distribution of phosphorous as it increases the soil quality and helps in yielding nutritious products and curb the production cost significantly. Researchers are supporting the idea of growing field peas as these offer superior protein quality and better nutrition.
In May 2020, research papers suggested that the aquaculture process involving various Pacific shrimps can benefit from the use of field peas. Field peas are a rich source of terrestrial protein using which the cultivation process can be boosted.
Segmentation
Global Field Peas Market has been segmented on the basis of type and application by the experts from MRFR to facilitate an easy understanding of the market. This report also includes charts and graphs showing the volumes and values of different areas, which will make it more credible. Future understanding of the market can rely on this report and develop strategies accordingly.
By type, the global market for field peas has been segmented into peas, chickpeas, and others. Peas and chickpeas contain valuable nutrients that are necessary to maintain the health standard of pets. The segment is expected to gain traction from people using organic routes to launch better products. This also has a niche customer base who are more concerned about the health of their pets.
By application, the global field peas market has been segmented into cat food, dog food, and others. A hike in the use of grain-free diets is showing better prospects for the field peas market.
Regional Landscape
The global market for field peas is all set to gain traction from Europe ad it would be followed closely by North America. Both these regions are providing support to their agricultural sector. A proper influx of investment for the production and technological support can help these regional markets grow.
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