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“Growth in demand for gluten-free food products to drive the market growth for pea starch.”
The global pea starch market size is projected to grow from USD136million in 2020 to USD 192million by 2025, recording a compound annual growth rate (CAGR) of 7.0% during the forecast period. The rising health consciousness and awareness among the consumers about the problems related to gluten are the main reasons for the growth in the demand for pea starch. As pea starch provides gluten-free solutions to food manufacturers with other nutritional benefits such as low-fat, low-calorie, lactose-free, and allergen-free solutions, the market for pea starch is expected to experience growth. Using gluten-free solutions in the production of bakery products helps in reducing the fat content and improving the cholesterol levels, along with boosting the metabolic rate and promoting healthy digestion. Gluten-free diets help in reducing the risk of digestive disorders, diabetes, and cardiovascular diseases. Owing to these benefits of a gluten-free diet, the pea starch market has a high potential for growth.
“The food & beverages segment is projected to dominate the market during the forecast period.”
Pea starch is majorly used in food & beverages, owing to its various functional benefits. It helps in improving the texture, consistency, and quality of food products. Pea starch provides low-fat, low-calorie, gluten-free, allergen-free, GMO-free solutions to food & beverage manufacturers. This helps manufacturers meeting the changing consumer demands of healthy and clean label products. This is the key factor driving the growth of the food & beverages segment in the pea starch market.
“The organic segment is projected to grow at a higher growth rate during the forecast period.”
By source, the organic segment is projected to be the faster-growing segment. The changing preferences and rising awareness about the overall health of individuals have led to an increase in the number of people opting for organic products over the inorganic ones. The trend of using clean-label will further encourage the use of organic pea starch in the pea starch market.
“The binding & thickening segment is projected to record the highest growth rate during the forecast period.”
On the basis of function, the binding & thickening segment is projected to account for the largest market share due to the excellent binding & thickening property and high amylose content of pea starch. Pea starch helps in enhancing the quality of the products. The increased demand for convenience food products and better-quality feed products is projected to contribute to the growth of this segment.
“Asia Pacific is projected to account for the fastest growth in the pea starch market during the forecast period.”
The Asia Pacific region is projected to be the fastest-growing market during the forecast period. Pea starch helps provide clean labels for processed food product manufacturers, such as baked goods and meat products, owing to its organic origins. With the increase in consumption of processed food, the demand for pea starch is expected to grow, as is also used as a thickening agent in numerous agri-food applications, such as delicatessen, sauces, creams, meats, noodles, and pasta.
In-depth interviews were conducted with CXOs, managers, and key executives from various key organizations operating in the pea starch market.
- By Value Chain: Supply-side: 66.0% and Demand-side: 34.0%
- By Designation: Managers:44.5%, CXOs: 33.2%, and Executives: 22.3%
- By Region: Asia Pacific: 35%, Europe: 20%, South America: 10%, North America: 25%, and RoW: 10%
The pea starch market comprises of major players, such as Emsland Group (Belgium), Roquette Fr?res (France), Vestkorn Milling AS (Norway), Ingredion Incorporated (US), Axiom Foods (US), and Yantai Shuangta Food (China). The study includes an in-depth competitive analysis of these players in the pea starch market, with their company profiles, recent developments, and key market strategies.
The study covers the pea starch market across segments. It aims at estimating the market size and its growth potential across different segments, such as application, grade, source, function, and region. The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
- The report will help market leaders/new entrants with information on the closest approximations of revenue numbers for the overall pea starch market and subsegments.
- This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
- The report will also help stakeholders understand the pulse of the market and will provide them with information on key market drivers, restraints, challenges, and opportunities.