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 research 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,’ the pea starch market is projected to reach $307.4 million by 2029, at a CAGR of 7.7% from 2022 to 2029. The report provides an in-depth analysis of the pea starch market across five major geographies, emphasizing the current market trends, market size, and recent developments and providing the forecast till 2029.
Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, and challenges. This market is characterized by more diversified operations, which offer healthy products, mainly due to rising health consciousness among consumers and their preference for foods that contain healthy, clean-label ingredients.
The high growth of the pea starch market is mainly attributed to the growing demand for convenience and processed food products, increasing prevalence of celiac disease and other food allergies, rising demand for functional food products, and the growing vegan population. However, the availability of alternative starches and a decrease in the production of dry peas are expected to hinder the growth of this market to a notable extent.
Based on nature, the pea starch market is segmented into organic pea starch and conventional pea starch. In 2022, the conventional pea starch segment is expected to account for the larger share of the pea starch market. The large market share of this segment is mainly attributed to the wide availability of crops grown through traditional harvesting methods using chemical fertilizers, easy accessibility to cost-effective conventional peas, the longer shelf life of conventional pea starch, and the wide availability of substantial crop varieties.
Based on type, the pea starch market is segmented into native pea starch and modified pea starch. The native pea starch segment is projected to register the highest CAGR during the forecast period of 2022–2029. The fast growth of this segment is mainly attributed to the growing trend of sustainable and natural food, awareness about clean-label products, and the wide range of applications in the food and beverage industry due to its high functionality and support to non-GMO, gluten-free, grain-free, vegan, vegetarian, allergen-friendly, and kosher trend.
Based on function, the pea starch market is segmented into thickener & gelling agent, binder, stabilizers, disintegrants, and other functions. The thickener segment is projected to register the highest CAGR during the forecast period of 2022–2029. The growth of this segment is mainly attributed to the growing use of pea starch as a thickener and gelling agent in the food & beverage, pharmaceuticals, and pet food industries due to its enhanced functional properties. It primarily provides thickness and gelling texture in food products and maintains stable texture in various conditions.
Based on application, the pea starch market is segmented into food & beverage (bakery & confectionery products, dairy products, soups & sauces and savoury & prepared food products, meat & seafood products, and other food and beverage products); paper industry; pharmaceuticals & chemicals; animal feed and pet food; and other applications. In 2022, the food and beverage segment is expected to account for the largest share of the pea starch market. The large market share of this segment is mainly attributed to the wide range of pea starch applications in the food & beverage industry due to its functionality and use in non-GMO, gluten-free, grain-free, vegan, vegetarian, allergen-friendly, clean label, and kosher foods. Also, the rising demand for ready-to-eat and ready-to-cook food products, increasing consumer awareness regarding the consumption of food products with natural ingredients, and the growing consumer preference for clean label & healthy products further support the growth of this segment.
An in-depth geographic analysis of the industry provides detailed qualitative and quantitative insights into the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) and the coverage of major countries in each region. Asia-Pacific is projected to register the highest CAGR during the forecast period. The fast growth of this regional market is mainly attributed to rapid urbanization, growing young population, and increasing demand for processed food products in emerging countries. Additionally, changing lifestyles and the emerging trend of healthy food & food ingredients further support the growth of the pea starch market in the region.
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 Fr?res (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 value of revenue generated by the 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 segments in terms of nature, type, function and application create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the pea starch market?
- 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?
Scope of the Report:
Pea starch Market, by Nature
- Conventional Pea starch
- Organic Pea starch
Pea starch Market, by Type
- Native Pea starch
- Modified Pea starch
Pea starch Market, by Function
- Thickener & Gelling Agent
- Other Functions
Pea starch Market, by Application
- Food & Beverage
o Bakery & Confectionery Products
o Dairy Products
o Soups & Sauces and Savory & Prepared Food Products
o Meat & Seafood Products
o Other Food and Beverage Products
- Paper Industry
- Pharmaceuticals and Chemicals
- Animal Feed and Pet Food
- Other Applications
Pea starch Market, by Geography
? North America
o Rest of Europe (RoE)
o Rest of Asia-Pacific
? Latin America
Middle East & Africa