The new report by Expert Market Research titled, ‘The Global Pea Starch Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global pea starch market, assessing the market based on its segments like applications, manufacturing process and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 343 million
- Forecast CAGR (2023-2028): 4%
- Forecast Market Size (2026): USD 557 million
Increased consumer demand for pea fiber and protein has fueled the growth of the global pea starch market. In the feed and food industries, the product is regarded as one of the newest starch-based additives. It has numerous nutritional benefits and can be used to make lactose-free, gluten-free, and allergen-free dishes. Because of its organic origins, pea starch also aids in the production of clean labels for processed foods such as baked goods and meat products. The need for high-quality pea starch for diverse food applications has increased. Furthermore, these food products are non-GMO, non-allergenic, gluten-free, and have a neutral taste, all of which contribute to pea starch’s increased demand in the food and beverage industry. The industry is also growing due to rising demand for minimally processed foods with more authentic and natural components. Furthermore, advances in the food processing industry are projected to benefit the market throughout the forecast period.
Industry Definition and Major Segments
Pea starch is superior to commonly used starch because it contains 35% amylose, which gives it excellent gelling and thickening qualities. Furthermore, natural pea starch has qualities such as greater temperature, acid, and better stability. Pea starch is a non-GMO, clean-label ingredient that can be used to make allergen-free, low-calorie, low-fat, gluten-free products. Because it is high in amylase, pea starch is frequently used as a thickening solution to generate gel-like mixtures. It’s also commonly utilized in the food sector because of its nutritional benefits and capacity to assist in the preparation of gluten- and lactose-free solutions. Pea starch is used in a variety of products, including bakery, noodles, soup, pasta, and vermicelli, to name a few. It’s also useful in the textile business, where it’s commonly used for textile sizing and cotton yards.
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By types, the market is divided into:
- Organic/Non-GMO
- Conventional
By applications, the market is divided into:
- Food and Beverages
- Feed
By region, the industry is categorized into:
- North America
- Europe
- The Asia Pacific
- Latin America
- The Middle East and Africa
Market Trends
The global pea starch market is fuelled by rising demand for pea starch in a variety of applications, thanks to its superior thickening and gelling qualities over other commonly used starches. Many culinary products, such as confectionary, dairy, snacks, potato goods, meats, seafood, bakery products, pasta, noodles, soups, sauces, and snacks, can employ pea starch as a binding and thickening additive to impart good texture and expand their regulating capabilities. Pea starch is hypoallergenic. There has been an increase in demand for gluten-free products as a result of the growing number of health-conscious clients. Pea starch is also a highly functional starch that mixes well with other starches to achieve certain formulation objectives. All of these reasons are contributing to propel the pea starch market forward. The pea starch market can be divided into three types: food, feed, and industrial. The food grade segment is expected to develop significantly during the forecast period, owing to the product’s increased acceptability as a consumable.
The Asia Pacific region holds a substantial part of the market. China, India, Japan, and other Southeast Asian countries are expected to be the primary drivers of growth of the market. Meanwhile, due to rising customer health consciousness and a growing demand for clean-labelled food goods, Europe is likely to see significant growth throughout the forecast period. Because it is the world’s largest producer and exporter of pea starch, North America is expected to have the largest market share by 2025. Due to rising consumption of processed foods and rising demand for adhesives in a wide range of industrial applications, the region is likely to be a key consumer in the market. The growth of the baked goods and processed meats industry segments is expected to be driven by a significant increase in the output of the food processing sector in Mexico, primarily due to an increase in the number of machinery imports, resulting in a robust demand for pea starch as a texturizing agent in baked goods and meat products over the forecast period.
Key Market Players
The major players in the market are Ingredion Incorporated, Roquette Frères, Yantai Shuangta Food co., LTD, PURIS, Emsland Group, Axiom Foods, Inc., among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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