Introduction to the Pea Starch Market Report
Meticulous Research®, a prominent global market research firm, has recently published an in-depth 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 the latest projections from this report, the global pea starch market is expected to grow significantly, reaching a market value of $307.4 million by 2029. The market is forecasted to expand at a compound annual growth rate (CAGR) of 7.7% from 2022 to 2029.
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Key Drivers Behind Market Growth
Several factors are driving the growth of the pea starch market. One of the most significant contributors is the increasing consumer demand for convenience and processed food products. As lifestyles become busier, consumers are seeking easy-to-prepare meals, and pea starch is often a key ingredient in many of these products. Additionally, the rising incidence of celiac disease and other food allergies has fueled demand for alternative starches, such as pea starch, which is gluten-free. Moreover, the growing trend of health-conscious eating, particularly the increasing popularity of vegan diets, has further accelerated the adoption of pea starch as a functional ingredient in plant-based products. However, market growth is tempered by factors such as the availability of alternative starches and a decline in dry pea production, which poses challenges to the overall market expansion.
Segmentation Based on Nature and Type
The pea starch market can be divided into two primary categories based on nature: conventional and organic. In 2022, the conventional segment held the largest market share. This is largely attributed to the widespread availability of crops cultivated through traditional farming practices, which often rely on chemical fertilizers. Conventional pea starch is not only more accessible but also offers a longer shelf life, making it a preferred option for many manufacturers. Furthermore, the cost-effectiveness of conventional pea starch compared to its organic counterpart contributes to its dominance in the market.
On the basis of type, the market is segmented into native and modified pea starch. The native pea starch segment is projected to experience the highest growth rate during the forecast period. This growth is driven by the increasing consumer demand for sustainable, natural food products and clean-label options. Native pea starch has gained popularity due to its wide range of applications in the food and beverage industry, where it supports trends such as non-GMO, gluten-free, vegan, and allergen-friendly products.
Functional Segmentation of the Market
In terms of functionality, the pea starch market is categorized into thickener & gelling agents, binders, stabilizers, disintegrants, and other functions. The thickener & gelling agent segment accounted for the largest share of the market in 2022. The increasing use of pea starch as a thickener and gelling agent in food and beverage products, as well as in pharmaceuticals and pet food, has driven the demand in this segment. Pea starch is highly valued for its ability to provide a thick, stable texture in food products, even under varying environmental conditions, making it an essential component in many formulations.
Applications of Pea Starch Across Industries
The pea starch market serves a wide array of industries, with the food and beverage sector dominating the landscape. In 2022, this segment accounted for the largest share of the market, owing to the diverse applications of pea starch in bakery and confectionery products, dairy items, soups, sauces, and meat substitutes. Pea starch is particularly valued for its functionality in creating non-GMO, gluten-free, vegan, and allergen-friendly products, aligning with the increasing demand for clean-label and natural ingredients. The growing popularity of ready-to-eat and ready-to-cook meals has also boosted the demand for pea starch in this sector.
Apart from food and beverages, pea starch is also widely used in the pharmaceutical, paper, and animal feed industries. Its ability to act as a binder, disintegrant, and stabilizer in various formulations makes it a highly versatile ingredient across multiple applications.
Geographical Market Insights
The report provides a comprehensive analysis of key geographical markets, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, North America held the largest market share, largely due to the region’s large-scale production of dry peas and its well-established food and beverage industry. The demand for gluten-free and organic products in North America has further propelled the growth of the pea starch market. However, the Asia-Pacific region is anticipated to register the highest growth rate over the forecast period, driven by the increasing demand for convenience foods, growing health consciousness, and expanding production capabilities in countries like China and India.
Conclusion
The pea starch market is poised for steady growth over the coming years, driven by evolving consumer preferences for clean-label, gluten-free, and plant-based products. The market’s expansion is fueled by rising demand across multiple industries, including food and beverage, pharmaceuticals, and animal feed. Although challenges such as the availability of alternative starches and fluctuating production levels may impact growth, the market’s overall trajectory remains positive, with opportunities for continued innovation and development.
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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?
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