Meticulous Research® has released a new market report entitled ‘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.’
The report forecasts that the pea starch market will reach $307.4 million by 2029, with a CAGR of 7.7% from 2022 to 2029. This growth is mainly driven by increasing consumer demand for convenience and processed foods, a rise in celiac disease and food allergies, a growing interest in functional foods, and a larger vegan population. However, competition from alternative starches and a reduction in dry pea production may pose challenges.
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The market is segmented by nature (conventional and organic), type (native and modified), function (thickener, gelling agent, binder, stabilizer, disintegrant, and more), and application (including food & beverage, paper industry, pharmaceuticals, animal feed, and other sectors). The report also includes an analysis of market competitors and regional insights.
In 2022, conventional pea starch is expected to dominate the market due to its wide availability and cost-effectiveness, attributed to traditional farming methods and a diverse range of crop varieties.
The native pea starch segment is projected to grow the fastest, driven by the demand for natural and clean-label products, with extensive applications across various sectors due to its high functionality and alignment with non-GMO and vegan standards.
Functionally, the thickener and gelling agent segment is expected to hold the largest market share in 2022, due to its essential role in enhancing food and beverage textures, as well as its use in pharmaceuticals and pet food.
In terms of application, the food and beverage sector is anticipated to lead, driven by the versatility of pea starch in different food products and its alignment with clean-label and dietary preferences. The increasing demand for natural ingredients and convenience foods further boosts this sector.
North America is projected to have the largest market share in 2022, supported by significant dry pea production and a strong food and beverage industry. The Asia-Pacific region, however, is expected to record the highest growth rate during the forecast period.
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).
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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?
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