Europe Pea Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 14.50 Billion |
| Market Size (2029) | USD 20.22 Billion |
| CAGR (2024 - 2029) | 6.88 % |
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Europe Pea Market Analysis
The Europe Pea Market size is estimated at USD 14.5 billion in 2024, and is expected to reach USD 20.22 billion by 2029, growing at a CAGR of 6.88% during the forecast period (2024-2029).
- Pea is one of the nutritional crops grown in the European region, which is rich in protein content and can be produced quickly. Peas are a rich source of proteins, amino acids, and sugars. Also, they are relatively low in calories and contain several vitamins, minerals, and antioxidants. Peas, a rich source of protein along with their nitrogen-fixing capacity, increase their regional demand, driving the market.
- Dried peas are commercially traded in the region in different varieties, including dried yellow peas, Austrian Winter, and dried green peas. In Europe, the excellent climatic environment of the area supports the high peas production.
- Further, pea crops are grain legumes that produce high protein feed for animals and human nutrition. Favorable climatic conditions and suitable soils support the cultivation of grain peas for livestock feed in southeast Europe. Additionally, pea provides valuable plant protein that can reduce the use of imported protein in livestock feeding.
- The crop is cultivated for dual purposes in various countries within the region, such as Bulgaria: firstly, as forage, which is harvested green, and secondly, for grain. The crop is rotated to exploit its fertility-raising features. Therefore, the increasing livestock production has also favored the growth of the market in the region.
Europe Pea Market Trends
This section covers the major market trends shaping the Europe Pea Market according to our research experts:
Growing Export Opportunity
Owing to their high nutritional qualities and increased western influence, pea proteins have gained popularity globally, even in developing countries, which has increased the potential for export from the region. According to the United Nations Commodity Trade Statistics Database, pea exports from the region increased by 15% in 2021. Netherlands, France, Germany, and Belgium account for the significant pea exporters in the area, accounting for nearly 30% of the total exports.
Further, the efforts of various governments to increase the acreage under pea production and the eventual growth in domestic production are anticipated to raise the scope for exports. For instance, in 2021, the Ministry of Agriculture Netherlands, which counts as one of the leading exporters in Europe, has initiated efforts to increase the area used to grow high-protein crops, including peas, by a factor of five. According to the ministry of Agriculture's National Protein Strategy, Dutch farmers should be using 100,000 hectares 10 years from now to grow legumes rich in protein, five times the area currently in use.
Moreover, the growing demand for peas from other countries encourages European exports. Turkey, India, Bangladesh, Pakistan, and the United Arab Emirates are some of the major export destinations for Europe. This growing export opportunity is driving the European pea market.
Russia to Dominate the Market in the Region
Russia dominates the pea market in Europe in terms of production. The favorable growth climate in the country has favored the rapid rise in production in recent years. Peas are traditionally grown in the southern parts of Russia, the Caucasus, and the Volga region. Due to growing production expenses for farmers and a decline in spring crop yields following unfavorable weather in 2021, the Volga region may expand production in the coming years. According to Russian statistics services data, the area under cultivation amounted to 1.45 million hectares in 2021. The country has become the largest producer of peas globally. According to the Global Pulse Confederation (GPC) article, Russia harvested a record 4.3 million metric ton of the crop in 2022, which tops the existing largest producer, Canada's estimated production of 3.59 million metric ton.
Further, the reduction in crops in the main pea-producing countries combined with the growing global interest in meat substitutes has resulted in higher exports of Russian peas. However, Russian pea exports slowed down in November, as farmers already sold a significant part of the 2021 crop against the background of high demand and attractive prices. In contrast to grains and oilseeds shipments, there is no export tax for this crop, which was attractive to Russian exporters. Also, high global demand opens new opportunities for Russian farmers and intensifies competition between exporters and processors in the short term. In addition, the high-value raw materials for the feed industry, that can be obtained through processing has also boosted the production and opened up a new dimension for the feed and pea industry in the country, in turn driving the market growth in the country.
Europe Pea Market News
- October 2022: Roquette, a global leader in plant-based ingredients and a pioneer of plant proteins, launched a new line of organic pea ingredients: organic pea starch and organic pea protein to the Europe market.
- September 2022: Lantmännen, an agricultural cooperative in Northern Europe, invested over SEK 1 billion (USD 95.7 million) in a new large-scale production facility for pea protein in Lidköping, Sweden, which is expected to be completed in early 2026.
- May 2022: China and Russia signed a phytosanitary protocol for peas opening the door for competition in Canada's top market. In the upcoming years, Russia will start exporting peas to China, increasing competition for Canadian exports.
Europe Pea Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
4.5 PESTLE Analysis
5. MARKET SEGMENTATION
5.1 Russia
5.1.1 Production Analysis
5.1.1.1 Consumption Analysis and Market Value
5.1.1.2 Import Market Analysis (Volume and Value)
5.1.1.3 Export Market Analysis (Volume and Value)
5.1.1.4 Price Trend Analysis
5.1.2 Ukraine
5.1.2.1 Production Analysis
5.1.2.2 Consumption Analysis and Market Value
5.1.2.3 Import Market Analysis (Volume and Value)
5.1.2.4 Export Market Analysis (Volume and Value)
5.1.2.5 Price Trend Analysis
5.1.3 France
5.1.3.1 Production Analysis
5.1.3.2 Consumption Analysis and Market Value
5.1.3.3 Import Market Analysis (Volume and Value)
5.1.3.4 Export Market Analysis (Volume and Value)
5.1.3.5 Price Trend Analysis
5.1.4 Spain
5.1.4.1 Production Analysis
5.1.4.2 Consumption Analysis and Market Value
5.1.4.3 Import Market Analysis (Volume and Value)
5.1.4.4 Export Market Analysis (Volume and Value)
5.1.4.5 Price Trend Analysis
5.1.5 Netherlands
5.1.5.1 Production Analysis
5.1.5.2 Consumption Analysis and Market Value
5.1.5.3 Import Market Analysis (Volume and Value)
5.1.5.4 Export Market Analysis (Volume and Value)
5.1.5.5 Price Trend Analysis
5.1.6 Rest of Europe
5.1.6.1 Production Analysis
5.1.6.2 Consumption Analysis and Market Value
5.1.6.3 Import Market Analysis (Volume and Value)
5.1.6.4 Export Market Analysis (Volume and Value)
5.1.6.5 Price Trend Analysis
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe Pea Industry Segmentation
The pea is the tiny, spherical seed or seed pod of the flowering plant Pisum sativum. And is the fourth-most important legume crop, following soybean, groundnut, and beans. Europe Pea Market is Analyzed by Production (Volume), Consumption (Volume & Value), Imports (Volume & Value), Exports (Volume & Value), and Price Trend Analysis. The report offers the market size and forecasts in terms of volume (Metric ton) and value (USD thousand) for all the above segments.
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Europe Pea Market Research FAQs
How big is the Europe Pea Market?
The Europe Pea Market size is expected to reach USD 14.50 billion in 2024 and grow at a CAGR of 6.88% to reach USD 20.22 billion by 2029.
What is the current Europe Pea Market size?
In 2024, the Europe Pea Market size is expected to reach USD 14.50 billion.
What years does this Europe Pea Market cover, and what was the market size in 2023?
In 2023, the Europe Pea Market size was estimated at USD 13.57 billion. The report covers the Europe Pea Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Pea Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Pea Europe Industry Report
Statistics for the 2024 Pea Europe market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Pea Europe analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
