Pea Starch Market Booms with $307.4 Million Valuation by 2029

Deeya5220

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Explore $307.4 million Pea Starch Market: Get exclusive insights on key market trends, segments, geographical analysis, & competitive analysis!

Overview of the Pea Starch Market Report

Meticulous Research®, a top-tier global market research firm, recently unveiled a detailed report titled " Pea Starch Market by Nature (Conventional, Organic); Type (Modified, Native); Function (Thickener, Gelling, Binder, Stabilizer); Application (Food [Bakery, Dairy], Beverage, Pharmaceuticals, Paper Industry, Animal Feed) - Global Forecasts to 2029." According to this report, the pea starch market is expected to reach $307.4 million by 2029, expanding at a compound annual growth rate (CAGR) of 7.7% between 2022 and 2029.

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Factors Fueling Market Growth

The rapid growth of the pea starch market is largely driven by the increasing demand for processed and convenience foods. Consumers are shifting towards quicker meal options, where pea starch plays a vital role as a food ingredient. Additionally, the rising incidence of food allergies, particularly celiac disease, has contributed to the demand for alternative, gluten-free starches like pea starch. Furthermore, the growing adoption of vegan and plant-based diets has made pea starch a favored ingredient in many products. Despite these positive drivers, the availability of alternative starches and declining dry pea production pose challenges to market growth.

Nature and Type-Based Segmentation of the Market

The pea starch market is segmented by nature into organic and conventional categories. In 2022, the conventional pea starch segment dominated the market, owing to the widespread availability of crops grown using traditional agricultural methods. This segment's growth is also supported by the extended shelf life of conventional pea starch and its cost-effectiveness compared to organic varieties.

Based on type, the market is divided into native and modified pea starch. The native pea starch segment is expected to witness the fastest growth over the forecast period. This can be attributed to the increasing preference for natural and sustainable food products. Native pea starch offers high functionality in food processing while supporting the non-GMO, gluten-free, and allergen-friendly trends in the food and beverage industry.

Functional Segmentation of the Market

Functionally, the market is divided into categories such as thickener & gelling agents, binders, stabilizers, disintegrants, and others. In 2022, the thickener & gelling agent segment led the market, driven by its widespread use in the food and beverage industry, as well as in pharmaceuticals and pet food. Pea starch's ability to provide a consistent texture in food products makes it highly valued in these sectors.

Application in Various Industries

The application of pea starch spans multiple industries, with the food and beverage sector accounting for the largest market share in 2022. The use of pea starch in bakery, confectionery, dairy, soups, sauces, and savory products has grown substantially. Its functionality in creating gluten-free, vegan, and allergen-free products has contributed to its widespread adoption. Additionally, the demand for ready-to-eat and ready-to-cook meals has driven growth in the food and beverage segment. Other industries, such as pharmaceuticals, paper, and animal feed, also utilize pea starch for its binding and stabilizing properties.

Geographical Insights

Geographically, North America dominated the pea starch market in 2022, thanks to its large-scale production of dry peas and a robust food and beverage sector. The demand for gluten-free and organic food products in the region has also propelled market growth. Meanwhile, the Asia-Pacific region is expected to register the highest CAGR during the forecast period due to the increasing demand for convenience foods, rising health awareness, and expanding production capacity in countries like China and India.

Conclusion

The pea starch market is set for significant growth, supported by increasing consumer demand for clean-label, allergen-friendly, and plant-based products. With its wide range of applications across multiple industries, the market is well-positioned for future expansion. However, challenges such as alternative starch availability and production limitations will require careful management to sustain growth over the coming years.

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Key Players:

The pea starch market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the pea starch market are Axiom Foods Inc. (U.S.), Dakota Dry Bean Inc. (U.S.), American Key Products, Inc. (U.S.), Roquette Frères (France), Vestkorn Milling AS (Norway), Yantai Shuangta Food co., LTD (China), Cosucra Groupe Warcoing SA (Belgium), Ingredion Incorporated (U.S.), NutriPea LP (Canada), Shandong Jianyuan Foods Co., Ltd. (China), Puris Proteins, LLC (U.S.), Emsland Group (Germany), Meelunie B.V. (Netherlands), Agridient B.V. (Netherlands), Aminola B.V. (Netherlands), and Ebro Foods, S.A. (Spain).

Key Questions Answered in the Report-

What is the current value of revenue generated by the global pea starch market?
At what rate is the global demand for pea starch projected to grow for the next 5-7 years?
What is the historical market size and growth rate for the pea starch market?
What are the major factors impacting the growth of this market at global and regional levels? What are the major opportunities for existing players and new entrants in the market?
What impact does the current COVID-19 pandemic have on the pea starch market?
Which nature, type, function, and application segments create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are likely to offer significant growth opportunities for the manufacturers in this market during the analysis period?
Who are the major players in the pea starch market? What are their specific product offerings in this market?
What recent developments have taken place in the pea starch market? What impact have these strategic developments created on the market?