Philippines Dried Peas Market | Trends, Share, Forecast, Analysis, Size, Revenue, Growth, Value, Industry, Companies & COVID-19 IMPACT

Philippines Dried Peas Market Synopsis

The market for dried peas in Philippines is expected to reach a value of around US$ 51 million, growing at an estimated CAGR of 5.7%. The increasing demand for convenience food due to hectic lifestyles and rising disposable incomes are driving up the sales of dried peas in the country. Additionally, health consciousness among consumers has also led to increased consumption of this product as it is rich in proteins and fiber which makes it a healthier option than other snacks. Furthermore, rising exports from the Philippines are aiding market growth as well.

Drivers of the market

The growth of the Philippines dried peas market is propelled by several key drivers. Dried peas are valued for their versatility as an ingredient in various dishes, including soups, stews, and snacks. They are also recognized for their high protein and fiber content, appealing to health-conscious consumers seeking nutritious food options. The convenience of dried peas, which require less preparation compared to fresh peas, contributes to their popularity. Moreover, the cost-effectiveness of dried peas makes them an economical choice for both households and food manufacturers. As vegetarian and plant-based diets gain traction, dried peas serve as a valuable source of protein. The market is also influenced by innovations in packaging, making dried peas more accessible and attractive to consumers.

Challenges of the market

The Philippines dried peas market faces a range of challenges that impact cultivation, distribution, and consumption. One major challenge is ensuring a consistent supply of high-quality peas for drying, which can be affected by climate changes, pests, and disease. Processing and storage conditions are critical to maintaining the desired texture and flavor of dried peas. Market players must also navigate pricing volatility, as factors such as global demand and supply, transportation costs, and import regulations can influence pea prices. Moreover, raising awareness and consumer education about the versatility and nutritional benefits of dried peas can be challenging, especially in a market where traditional staples dominate.

Covid-19 Impact of the market

The Philippines dried peas market underwent a series of adjustments and adaptations due to the COVID-19 pandemic. With disruptions in supply chains, transportation, and changes in consumer behavior, the demand for dried peas faced challenges. The closure of restaurants, reduced foodservice operations, and shifts in snacking patterns impacted the demand for dried peas, often consumed as snacks or ingredients. However, the surge in home cooking and the need for shelf-stable ingredients led to increased demand for dried peas in retail channels. Suppliers and producers had to pivot toward retail distribution, adjusting packaging sizes and marketing strategies to target home cooks and health-conscious consumers. Ensuring a consistent supply of high-quality dried peas was a challenge, given disruptions in sourcing and transportation. Despite these obstacles, the market adapted to the evolving situation by catering to changing consumption patterns and emphasizing the versatility of dried peas.

Key Players of the market

Prominent players in the Philippines dried peas market are essential for providing a staple legume used in various culinary applications. Companies like PeaHarvest Farms, LegumeSource Growers, and PeaMaster Producers play a pivotal role in cultivating, processing, and supplying dried peas that are valued for their protein content and versatility in cooking.

Key Highlights of the Report:

• Philippines Dried Peas Market Outlook
• Market Size of Philippines Dried Peas Market, 2023
• Forecast of Philippines Dried Peas Market, 2030
• Historical Data and Forecast of Philippines Dried Peas Revenues & Volume for the Period 2020-2030
• Philippines Dried Peas Market Trend Evolution
• Philippines Dried Peas Market Drivers and Challenges
• Philippines Dried Peas Price Trends
• Philippines Dried Peas Porter's Five Forces
• Philippines Dried Peas Industry Life Cycle
• Historical Data and Forecast of Philippines Dried Peas Market Revenues & Volume By Nature for the Period 2020-2030
• Historical Data and Forecast of Philippines Dried Peas Market Revenues & Volume By Organic for the Period 2020-2030
• Historical Data and Forecast of Philippines Dried Peas Market Revenues & Volume By Conventional for the Period 2020-2030
• Historical Data and Forecast of Philippines Dried Peas Market Revenues & Volume By Product Type for the Period 2020-2030
• Historical Data and Forecast of Philippines Dried Peas Market Revenues & Volume By Green Peas for the Period 2020-2030
• Historical Data and Forecast of Philippines Dried Peas Market Revenues & Volume By Yellow Peas for the Period 2020-2030
• Historical Data and Forecast of Philippines Dried Peas Market Revenues & Volume By Application for the Period 2020-2030
• Historical Data and Forecast of Philippines Dried Peas Market Revenues & Volume By Food and Beverage Processing for the Period 2020-2030
• Historical Data and Forecast of Philippines Dried Peas Market Revenues & Volume By Cosmetics and Personal Care for the Period 2020-2030
• Historical Data and Forecast of Philippines Dried Peas Market Revenues & Volume By Pharmaceuticals & Supplements for the Period 2020-2030
• Historical Data and Forecast of Philippines Dried Peas Market Revenues & Volume By Animal Feed for the Period 2020-2030
• Historical Data and Forecast of Philippines Dried Peas Market Revenues & Volume By Foodservice/HoReCa for the Period 2020-2030
• Historical Data and Forecast of Philippines Dried Peas Market Revenues & Volume By Household/Retail for the Period 2020-2030
• Historical Data and Forecast of Philippines Dried Peas Market Revenues & Volume By Sales Channel for the Period 2020-2030
• Historical Data and Forecast of Philippines Dried Peas Market Revenues & Volume By Direct Sales for the Period 2020-2030
• Historical Data and Forecast of Philippines Dried Peas Market Revenues & Volume By Indirect Sales for the Period 2020-2030
• Philippines Dried Peas Import Export Trade Statistics
• Market Opportunity Assessment By Nature
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Application
• Market Opportunity Assessment By Sales Channel
• Philippines Dried Peas Top Companies Market Share
• Philippines Dried Peas Competitive Benchmarking By Technical and Operational Parameters
• Philippines Dried Peas Company Profiles
• Philippines Dried Peas Key Strategic Recommendations