South Korea Pigeon Pea Market was valued at USD 0.1 Billion in 2022 and is projected to reach USD 0.2 Billion by 2030, growing at a CAGR of 7.0% from 2024 to 2030.
The South Korea pigeon pea market has witnessed notable growth in recent years, driven by increasing demand from various industries. Pigeon peas, also known as Cajanus cajan, are a key legume used in numerous food products, particularly in Asia. This market has evolved as an essential player in the agricultural sector of South Korea, with both traditional and modern industries relying on pigeon peas for a variety of applications.
The primary industries driving the demand for pigeon peas in South Korea include the food industry, animal feed production, and pharmaceuticals. The food industry remains the largest consumer of pigeon peas, using them in a variety of dishes such as soups, curries, and stews. Additionally, pigeon peas are increasingly used in processed food products like snacks and protein bars, owing to their high nutritional value, including protein and fiber.
Animal feed production is another key area where the demand for pigeon peas is growing. With South Korea's robust poultry and livestock industries, pigeon peas are used to supplement animal feed, as they provide essential nutrients that promote growth and development in animals. The demand from the pharmaceutical sector is also on the rise, as pigeon peas contain bioactive compounds that are of interest for developing natural remedies and dietary supplements.
Despite the growing demand, the pigeon pea market in South Korea faces challenges. One of the primary concerns is the limited domestic production, which has led to an increased reliance on imports. This has created a competitive market with various international suppliers vying for market share. Additionally, fluctuating prices of pigeon peas have affected industry stability, with supply chain disruptions causing delays and price hikes.
The future of the South Korea pigeon pea market looks promising, with more research and development being conducted to improve crop yields and reduce dependency on imports. Industry stakeholders are focusing on sustainability, with initiatives to increase local production and improve distribution networks. The ongoing demand from industries such as food, animal feed, and pharmaceuticals is expected to continue driving the market's growth in the coming years.
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SYMAF
Sun Impex
Interamsa Agroindustrial SAC
A.B.agro Company
Arvind Limited
Akyurek Kardesler
Taj Foods
Pulses Splitting & Processing Industry Pvt Ltd
Unitex Tanzania Limited
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Pigeon Pea Market
Whole Pigeon Pea
Pigeon Pea Flour
Split Pigeon Pea
Food Industry
Animal Feed
Industrial Use
Online Retail
Supermarkets & Hypermarkets
Convenience Stores
Direct Sales
Households
Food Manufacturers
Animal Feed Producers
Drying
Roasting
Boiling
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Pigeon Pea Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Pigeon Pea Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Pigeon Pea Market, By Type
6. South Korea Pigeon Pea Market, By Application
7. South Korea Pigeon Pea Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Pigeon Pea Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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