Meticulous Research®, a premier global market research firm, has unveiled 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.’
According to Meticulous Research®, the pea starch market is forecasted to hit $307.4 million by 2029, growing at a CAGR of 7.7% from 2022 to 2029.
This growth is driven by increasing demand for convenience foods, a rise in celiac disease and food allergies, the popularity of functional foods, and a growing vegan demographic. However, the market may face challenges from alternative starches and a decline in dry pea production.
The report segments the market by nature, type, function, application, and geography.
By nature, the market includes organic and conventional pea starch. In 2022, conventional pea starch holds the largest market share due to its widespread availability, cost-effectiveness, and longer shelf life.
By type, the market is divided into native and modified pea starch. Native pea starch is expected to grow fastest due to the demand for natural and sustainable food products.
By function, the market is categorized into thickener & gelling agent, binder, stabilizer, disintegrant, and others. The thickener & gelling agent segment dominates due to its extensive use in food & beverage, pharmaceuticals, and pet food industries.
By application, the market includes food & beverage, paper industry, pharmaceuticals & chemicals, animal feed and pet food, and other uses. The food & beverage segment leads the market, driven by the demand for non-GMO, gluten-free, and clean-label products.
Geographically, North America leads the market in 2022 due to its large dry pea production and strong food industry. However, Asia-Pacific is expected to grow at the highest CAGR 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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