As of 2023, the U.S. peas market stood at approximately 196.0 thousand metric tons. The forecast for the market volume from 2024 to 2028 shows a period of stability with minor fluctuations. The market is expected to grow minimally by 0.51% between 2023 and 2024, then rise to 197.0 thousand metric tons by 2025 and maintain this level through 2028. Over the five-year period, the average annual growth rate (CAGR) will be a modest 0.20%.
Future trends to watch for include:
- Increased demand for plant-based proteins, driving moderate market growth.
- Potential effects of climatic changes on cultivation areas could impact supply stability.
- Advancements in agricultural technology may enhance yield and efficiency.