Global Dry Peas Market 2024

Dry Peas Market Size

After four years of growth, the global dry peas market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2017 to 2023, the growth of the global market failed to regain momentum.

Dry Peas Production

In value terms, dry peas production reduced to $X in 2023 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2018 to 2023, global production growth failed to regain momentum.

The countries with the highest volumes of production in 2023 were Canada (X tons), Russia (X tons) and China (X tons), together accounting for X% of global production. India, the United States, France, Ukraine, Ethiopia, Australia, Germany and Argentina lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Germany (with a CAGR of X%), while production for the other global leaders experienced more modest paces of growth.

In 2023, the global average dry peas yield declined slightly to X tons per ha, remaining stable against the previous year's figure. The yield figure increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 with an increase of X%. The global yield peaked at X tons per ha in 2020; afterwards, it flattened through to 2023. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, the global harvested area of peas (dry) fell modestly to X ha, standing approx. at the previous year. Over the period under review, the harvested area, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X%. The global harvested area peaked at X ha in 2017; however, from 2018 to 2023, the harvested area stood at a somewhat lower figure.

Dry Peas Exports

Exports

In 2023, overseas shipments of peas (dry) were finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The global exports peaked at X tons in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

In value terms, dry peas exports declined slightly to $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then declined modestly in the following year.

Exports by Country

Canada (X tons) and Russia (X tons) were the largest exporters of peas (dry) in 2023, finishing at approx. X% and X% of total exports, respectively. Turkey (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by the United States (X%). Ukraine (X tons), France (X tons), Latvia (X tons), Australia (X tons) and Lithuania (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Latvia (with a CAGR of X%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Canada ($X), Russia ($X) and the United States ($X) appeared to be the countries with the highest levels of exports in 2023, together comprising X% of global exports. Turkey, France, Ukraine, Latvia, Australia and Lithuania lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Latvia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average dry peas export price stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The global export price peaked at $X per ton in 2022, and then dropped markedly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the other global leaders experienced more modest paces of growth.

Dry Peas Imports

Imports

In 2023, supplies from abroad of peas (dry) was finally on the rise to reach X tons after two years of decline. Over the period under review, total imports indicated resilient growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Global imports peaked at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, dry peas imports rose to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Global imports peaked in 2023 and are likely to see steady growth in the near future.

Imports by Country

In 2023, China (X tons) represented the largest importer of peas (dry), committing X% of total imports. Spain (X tons) held the second position in the ranking, followed by Bangladesh (X tons) and Turkey (X tons). All these countries together took approx. X% share of total imports. The United States (X tons), Italy (X tons), Pakistan (X tons), Latvia (X tons), Germany (X tons), the Netherlands (X tons) and Norway (X tons) followed a long way behind the leaders.

Imports into China increased at an average annual rate of X% from 2012 to 2023. At the same time, Latvia (X%), Turkey (X%), the United States (X%), Norway (X%), Spain (X%), Germany (X%), Italy (X%), Bangladesh (X%) and the Netherlands (X%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2023. Pakistan experienced a relatively flat trend pattern. While the share of China (X p.p.), Turkey (X p.p.), Spain (X p.p.), Latvia (X p.p.) and the United States (X p.p.) increased significantly in terms of the global imports from 2012-2023, the share of Pakistan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported peas (dry) worldwide, comprising X% of global imports. The second position in the ranking was taken by Spain ($X), with a X% share of global imports. It was followed by Bangladesh, with a X% share.

In China, dry peas imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Spain (X% per year) and Bangladesh (X% per year).

Import Prices by Country

The average dry peas import price stood at $X per ton in 2023, waning by X% against the previous year. In general, the import price showed a slight contraction. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2022, and then fell sharply in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Pakistan ($X per ton), while Latvia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform