A new report from Meticulous Research® 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’ has been published.
The forecast predicts 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 primarily driven by increasing demand for convenience and processed foods, a rise in celiac disease and other food allergies, growing interest in functional foods, and a larger vegan population. However, the growth may be constrained by the availability of alternative starches and a decrease in dry pea production.
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The report segments the market by nature (conventional, organic), type (native, modified), function (thickener, gelling agent, binder, stabilizer, disintegrant, etc.), and application (food beverage, paper industry, pharmaceuticals, animal feed, and other sectors). It also provides an analysis of industry competitors and regional markets.
The conventional pea starch segment is expected to lead in 2022 due to its wide availability and lower cost, supported by traditional farming methods and a broad range of crop varieties.
The native pea starch segment is anticipated to grow the fastest, driven by the demand for natural and clean-label products, with its applications spanning across various sectors due to its high functionality and adherence to non-GMO and vegan standards.
Functionally, the thickener and gelling agent segment is expected to dominate the market in 2022, owing to its critical role in enhancing the texture and stability of food and beverages, pharmaceuticals, and pet foods.
In terms of application, the food and beverage sector is projected to lead, driven by the extensive use of pea starch in various food products and its compatibility with clean-label and dietary trends. The rising demand for natural ingredients and convenience foods further supports this sector.
North America is forecasted to hold the largest market share in 2022, supported by substantial dry pea production and a robust food and beverage sector. The Asia-Pacific region, however, is expected to experience 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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