Meticulous Research®, a renowned global market research firm, has released a 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.’
The pea starch market is anticipated to reach $307.4 million by 2029, growing at a CAGR of 7.7% from 2022 to 2029.
Growth drivers include the demand for convenience foods, increasing food allergies, the popularity of functional foods, and a growing vegan population. However, the market may face challenges from alternative starches and declining dry pea production.
The market is divided by nature, type, function, application, and region.
By nature, segments include conventional and organic pea starch, with conventional holding the largest share in 2022 due to its availability and cost-effectiveness.
By type, the market is split into native and modified pea starch, with native pea starch expected to grow fastest due to the demand for natural food products.
By function, segments include thickener & gelling agent, binder, stabilizer, disintegrant, and others. Thickener & gelling agent is the largest segment due to its use in various industries.
By application, segments include food & beverage, paper industry, pharmaceuticals & chemicals, animal feed and pet food, and other uses. Food & beverage is the leading segment due to the demand for clean-label products.
Geographically, North America holds the largest market share in 2022, but Asia-Pacific is expected to register 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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