The demand for peas in the US shows a consistent decline from 2024 to 2028, tapering from 273.0 to 271.0 thousand metric tons. The initial forecast for 2024 predicted a decrease from the 2023 level, reflecting a broader trend of stagnation and slight downturn projected over the upcoming five years. Between 2024 and 2027, demand declines by approximately 0.4% annually, indicating a frail growth trajectory. The last two years show no annual growth and a negative CAGR of 0.2% over the period from 2024 to 2028, pointing towards a plateau in consumption levels.
Future trends to watch:
- Emergence of plant-based diets might boost demand if new product innovations arise.
- Environmental and sustainability concerns could influence consumer choices.
- Domestic production improvements and changes in tariff policies could alter market dynamics.
