Peas market in Eastern Asia

Earlier Report Observations

The market for fresh or chilled peas in Eastern Asia showed steady growth in volume and value from 2018 to 2020. Market volume increased from 11.8 million t in 2018 to 12.2 million t in 2020, while market value rose more sharply from 16.7 billion USD to 20.9 billion USD over the same period. This growth was driven by rising consumer demand for healthy eating and diverse foods, as well as increased attention to pea protein as a plant-based alternative. Policy support for green agriculture in China also contributed to the expansion of pea cultivation and processing.

After 2020, market volume dipped slightly to 12.0 million t in 2021 but recovered to 12.1 million t by 2023, while value continued climbing to 24.0 billion USD in 2023. Product innovations such as concentrated pea protein and food-grade protein powder, along with increased R&D investment by key companies, stimulated demand. In 2023, a 12% expansion in sweet crisp pea cultivation area in some regions and the spread of mechanized sowing boosted production efficiency. Major players like Yuwang Group and Harbin Hi-tech Soybean Food strengthened their market presence, intensifying competition.

Throughout the period, the development of processed pea products, including starch and fiber for use in food and industrial sectors, diversified the market. Improvements in global supply chains and logistics infrastructure facilitated product distribution. Consumer preferences shifted towards low-sugar, high-dietary-fiber products, supporting company innovation and marketing efforts.

Production peas in Eastern Asia

In kind, 2017-2020, K t

Top producers of peas, 2017-2020

World map of production of peas, 2017-2020

Eastern Asia's pea production has grown for the third year in a row. In 2020, the region produced 12,224 thousand tonnes of peas, marking a 2.0% increase from 2019. Over the 2017-2020 period, production rose by 5%, with an average annual growth rate of 1.6%.

Annual dynamics of production in Eastern Asia in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Pea production in Eastern Asia has increased for the second consecutive year. In 2020, the output was valued at 20,966 million US dollars, up 21.5% from the previous year. Between 2017 and 2020, production grew by 17.1%, translating to an annualized rate of 5.4%. The lowest value was recorded in 2018 at 16,760 million US dollars, which also saw the largest decline of 6.4%.

Annual dynamics of production in Eastern Asia in value, 2017-2020, M $ US

Exports peas from Eastern Asia

Exports in kind, t

After two years of growth, Eastern Asia's pea exports declined in volume. In 2020, exports totaled 17,676 tonnes, down 4.7% from the previous year. Over the 2017-2020 period, exports increased by 14.1%, with an annualized rate of 4.5%. The peak was in 2019 at 18,553 tonnes, which also experienced the largest increase of 13.3%.

Annual dynamics of product's exports from Eastern Asia in kind, 2017-2020, t

From 2017 to 2020, three key markets—Thailand, Vietnam, and Malaysia—accounted for 82.8% of Eastern Asia's total pea exports in volume.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Eastern Asia in kind, 2017-2020

Exports in value, K $ US

Pea exports from Eastern Asia have risen for the second year in a row. In 2020, the region exported 30,317 thousand US dollars worth of peas, a 13.5% increase from the previous year. Between 2017 and 2020, exports grew by 27.3%, with an annualized rate of 8.4%. The lowest value was in 2018 at 23,293 thousand US dollars, which saw a decline of 2.2%, while the largest increase of 14.6% occurred in 2019.

Annual dynamics of product's exports from Eastern Asia in value, 2017-2020, K $ US

From 2017 to 2020, Thailand (35.3% of export value), Vietnam (28.1%), and Malaysia (14.4%) were the main markets for Eastern Asia's pea exports, together making up 77.7% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Eastern Asia in value, 2017-2020

Imports peas to Eastern Asia

Imports in kind, t

Following two years of decline, Eastern Asia's pea imports increased in volume. In 2020, imports reached 1,214 tonnes, remaining relatively stable compared to the previous year. Over the 2017-2020 period, imports fell by 12.5%, with an average annual decline of 4.3%. The lowest point was in 2019 at 1,210 tonnes, which also saw the largest drop of 7.9%.

Annual dynamics of product's imports to Eastern Asia in kind, 2017-2020, t

During 2017-2020, peas were imported into Eastern Asia from many different markets. Even the top destinations—Peru, Thailand, and Guatemala—together represented only 46.7% of total imports in volume.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Eastern Asia in kind, 2017-2020

Imports in value, K $ US

Foreign pea supplies to Eastern Asia have decreased for the second consecutive year. In 2020, the region imported 4,732 thousand US dollars worth of peas, down 9.3% from the previous year. Over the 2017-2020 period, imports increased by 8.8%, with an average annual growth rate of 2.9%. The highest value was recorded in 2018 at 5,238 thousand US dollars, which also experienced the largest increase of 20.5%.

Annual dynamics of product's imports to Eastern Asia in value, 2017-2020, K $ US

From 2017 to 2020, Peru (44.9% of import value), Thailand (14.8%), and Guatemala (13.8%) formed the main group of destinations for pea imports into Eastern Asia, with a combined share of 73.5% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Eastern Asia in value, 2017-2020