Pea Starch Market Growth Driven by Increasing Demand for Functional Foods
Meticulous Research® recently published an in-depth report titled ‘Pea Starch Market by Nature, Type, Function, and Application – Global Forecasts to 2029,’ offering valuable insights into the fast-evolving pea starch market.
According to the report, the pea starch market is forecasted to reach $307.4 million by 2029, growing at a compound annual growth rate (CAGR) of 7.7% from 2022 to 2029. The increasing demand for functional and processed food products is a primary driver of this growth. As consumers become more health-conscious, the demand for foods that offer both convenience and nutritional benefits has surged, positioning pea starch as a critical ingredient in various food formulations. Additionally, the growing prevalence of food allergies, especially celiac disease, has contributed to the adoption of gluten-free and allergen-friendly products, further boosting the demand for pea starch. The expanding vegan population also favors the growth of this market, as pea starch aligns with plant-based and non-GMO trends. However, the availability of alternative starches and a decrease in dry pea production pose challenges that could limit market expansion.
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Market Segmentation Highlights
The pea starch market is categorized based on nature, type, function, application, and geography, providing a comprehensive view of the market landscape. The segmentation by nature differentiates between conventional and organic pea starch, while type-based segmentation focuses on native and modified starch. Functional segmentation covers its various uses as a thickener, gelling agent, binder, and stabilizer, and the application segmentation spans the food & beverage, pharmaceuticals, paper industry, and animal feed sectors.
Conventional Pea Starch Dominates the Market
In 2022, conventional pea starch accounted for the largest market share, primarily due to its affordability and widespread availability. Conventional starch benefits from the extensive use of traditional farming methods, which ensures cost-effective production and consistent supply. Additionally, conventional pea starch enjoys a longer shelf life, making it a preferred choice for manufacturers seeking reliable ingredients. Its lower cost compared to organic options further supports its dominance in the market, particularly in regions where cost-efficiency is a major purchasing factor.
Rapid Growth of Native Pea Starch
Within the type segmentation, native pea starch is expected to exhibit the highest growth rate during the forecast period. This growth is largely driven by the increasing demand for clean-label and natural food products. Consumers today are more inclined toward transparent ingredients and sustainable food sources, favoring native pea starch due to its natural extraction process and minimal processing. Its compatibility with a variety of dietary preferences, including vegan, gluten-free, and kosher, also enhances its appeal in the food & beverage sector, where natural and allergen-friendly options are in high demand.
Applications in Food & Beverage Drive Market Expansion
The food & beverage segment held the largest share of the pea starch market in 2022, driven by its widespread use in bakery, dairy, soups, sauces, and ready-to-eat food products. As consumers seek healthier and more natural options, the use of pea starch in non-GMO, gluten-free, and allergen-friendly products is gaining traction. Additionally, pea starch’s functional properties, such as its ability to enhance texture and stability, make it an essential ingredient in various formulations. The rising demand for convenience foods, coupled with increasing consumer awareness of clean-label products, is expected to further boost the adoption of pea starch in this segment.
Conclusion: A Growing Market with Diverse Opportunities
The pea starch market is set to experience significant growth, fueled by the increasing demand for functional, allergen-friendly, and plant-based food products. While the market faces challenges from alternative starches and production issues, the expanding applications of pea starch in industries such as food & beverage, pharmaceuticals, and animal feed provide substantial growth opportunities. As consumers continue to prioritize health and sustainability, pea starch will likely remain a vital component in future food innovations.
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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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