Portland, OR, February 23, 2021 (GLOBE NEWSWIRE) – According to a report published by Allied Market Research, a global milk pea market was tied to $ 122.9 million in 2019 and is expected to reach $ 251.2 million by 2027, recording a CAGR of 10.5% from 2021 to 2027. The report provides a detailed analysis of major investment pockets , best winning strategies, drivers and opportunities, market size and estimates, competitive scenario and different market trends.
Rising demand for vegetable milk, increasing disposable income and increasing the vegan population will spur the growth of the global pea market with milk. On the other hand, the high price of plant products somewhat hampers growth. However, the increase in the number of consumers allergic to dairy products is expected to create lucrative opportunities in the coming years.
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- The outbreak of covid-19 ice has forced people to opt for a healthy diet and drink to improve their overall health and immunity.
- Manufacturing companies around the world are also investing in plant products to meet growing consumer demand, and this surge is quite likely to continue after the pandemic.
The global pea market with milk is analyzed by taste, type of packaging, distribution channel and region. Based on taste, the original segment accounted for about one-third of total market revenue in 2019 and is expected to dominate by the end of 2027. The vanilla segment, on the other hand, would have the fastest CAGR of 11.8% over the entire forecast period.
Based on the type of packaging, the aseptic cartons segment contributed with more than two-fifths of the total market share in 2019, and is expected to lead the trail until 2027. The same segment will show the fastest CAGR of 10.8% over the forecast period.
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Based on geography, North America collected the largest share in 2019, generating nearly two-fifths of the global market. At the same time, the market across the Asia-Pacific region would show the fastest CAGR of 12.6% from 2021 to 2027. The other two provinces covered by the report include Europe and LAMEA.
Key market players analyzed in the global pea milk market report include Ripple Foods, Nestle SA, DrinkStar, Snappea Foods, Vly Foods, Devon Garden Foods, Sproud, Qwrkee, Freedom Foods and The Mighty Society. These market players have embraced several strategies, including partnership, expansion, collaboration, joint ventures and others to prove their feel in the industry.
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Allied Market Research (AMR) is the market research and business consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global companies, as well as medium and small companies, with the unsurpassed quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their market domains. AMR offers its services in 11 industries, including life sciences, consumer goods, materials and chemicals, construction and manufacturing, food and beverage, energy and energy, semiconductors and electronics, the automotive and transportation industries, the aerospace and defense industries, and the BFSI.
We are in a professional corporate relationship with various companies and this helps us to extract market data that help us to generate accurate research data tables and confirm the ultimate accuracy in our market forecasting. All the data presented in the reports we published were extracted through primary interviews with top officials of the leading companies of the respective domain. Our secondary data acquisition methodology includes in-depth online and offline research and interviews with industry professionals and analysts.
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