Market overview:
Dried Peas Market has been valued $xx billion in the year 2019 and it is estimated to reach $xx billion by the year 2026, with a CAGR of xx% from 2021 to 2026. Dried Peas having readily discernible cracked seed coats or peas which have all or a part of the seed coat removed, and broken peas which are more than one-half of a whole pea; these are the main factors that have considerably increased the demand for the Dried Peas in the market, thereby driving the huge growth of the Dried Peas market in the upcoming years
Market Drivers and Restrains:
The main factors that have considerably increased the demand for the Dried Peas in the market is mainly due to the food & beverages sector has held up relatively well, as it is less exposed to a near-term contraction in consumer spending. However, the Fib sector is expected to face severe challenges, with majority of companies being affected by manufacturing, demand issues, and supply chain disruption, especially in Asia. The prices of the raw materials as well as finished goods have increased due to the shortage of products. This is affecting the production as well as sales. It is analyzed that if this situation persists, companies will have a hard time in the near future to continue operations unless an aid is provided by regulatory authorities or if the company is present on a global scale; these are the main factors that have considerably increased the demand for the Dried Peas in the market, thereby driving the huge growth of the Dried Peas market in the upcoming years
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Report is segmented as:
Dried Peas Market is segmented on the basis of by:
By Nature (Conventional and Organic),
By Product Type (Yellow Peas and Green Peas),
By Application (Household/Retail, Foodservice/Horace, Animal Feed, Pharmaceuticals & Supplements, Cosmetics and Personal Care, and Food and Beverage Processing),
By Sales Channel (Direct Sales and Indirect Sales)
Geographical Segmentation:
Dried Peas Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. North America has the dominant share in the Dried Peas is due to the growing demand for pea protein powder these are the main factors that have considerably increased the demand for the Dried Peas in the North America, followed by Europe, Asia Pacific, Latin America and Middle East & Africa will register a slower increase in the Dried Peas Market
Impact of COVID-19 on Market
Coved -19 pandemic has affected almost every industry, and the long-term effects are projected to impact growth of Dried Peas during the forecast period. Covid-19 pandemic has impacted huge on the sales revenue of Dried Peas market, Due to the government restrictions like lockdown in many countries has stopped the production of products by the manufacturing companies. Companies have started opening their manufacturing units after taking all the necessary preventive measures. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus.
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