Pea Starch Market Outlook: Competitor, Regional Revenue, and Forecast 2030
Pea Starch Market Overview
The global pea starch market is likely to expand at a CAGR of 10.3% over the forecast period of 2022-2030, affirms Market Research Future (MRFR) in an in-depth study. The global pea starch market is expected to catapult to USD 567 Mn by the end of 2030 from USD 86.5 Mn in 2022.
Pea starch is mainly available as a by-product during the process of protein extraction from peas which is a relatively cheap source of starch. Widespread acceptance of natural ingredients in food products has proven to be a plus for the growth of the pea starch market outlook.
Pea starch has superior gelling properties as compared to other native starches due to its high amylose content. The ability of pea starch to form gel in water at a much low dosage has helped it gain many accolades as an ideal food ingredient. It is widely used in the preparation of food products such as noodles, vermicelli, or gummy confectioneries.
Pea starch can withstand high-temperature cooking and remain stable under variant pH levels as compared to corn, tapioca, and potato native starches. Pea starch is applied to meat products for improvement of texture and mouthfeel and also used in bakery, dairy, and canned food products. Expanding food industry is generating persistent demand for pea starch which is majorly driving the growth of the market.
Pea starch is non-allergic, non-GMO, and gluten-free which makes them a preferred ingredient in various food products. The prevalent dietary trend of gluten-free food consumption is expected to further propel the demand for pea starch. Moreover, pea starch is high in nutritional content and low in calorie. Growing demand for functional and low-calories food ingredients coupled with the popularity of healthy dieting is expected to take the global pea starch market ahead.
Enticed by the growing popularity of pea starch, various food manufacturers are offering innovative food variants incorporated with pea starch which has further induced demand within the global pea starch market. Moreover, pea starch is almost exclusively utilized for industrial application which is another factor triggering growth within the global pea starch market. However, allergic reactions may be caused by pea starch which can inhibit the growth of the global pea starch market.
Competitive Landscape
Meelunie B.V., Emsland Group, Qingdao CBH Co., Ltd., Vestkorn Milling AS, Roquette Freres,
The Scoular Company, Axiom Foods, Inc., Shandong Jianyuan Group, Felleskjøpet Rogaland Agder, Puris Foods, Parrish And Heimbecker, Ltd., Dakota Dry Bean, Yantai Oriental Protein Tech co., Ltd., AGT Food and Ingredients, and Cosucra Groupe Warconing SA are the notable players in the global pea starch market.
Segmentation
The global pea starch market outlook has been segmented based on grade, application, and function.
By grade, the global pea starch market has been segmented into food, feed, and industrial. The food segment is leading the market owing to the high utilisation of pea starch in the food and beverage industry. However, the industrial segment is estimated to be the fastest growing segment since the application range of pea starch is expanding across multiple industries.
By application, the global pea starch market has been segmented into food and beverages, industrial, pet food, and others.
By function, the global pea starch market has been segmented into binding and texturing, gelling, film forming, texturizing, and others. The binding and thickening segment is leading the market, while the gelling segment is expected to capture the highest CAGR over the forecast period.
Regional Analysis
The pea starch market insights have been divided into four geographic regions: North America, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA).
APAC is the largest pea starch market. There is a high volume of consumption of noodles and vermicelli in the region, which are made of pea starch. Surging awareness regarding the health benefits associated with pea starch and the expanding food and beverage industry are favouring the growth of the market.
The trend of gluten-free food consumption and the growing use of pea starch as an animal feed are percolating in the North American region, which is auguring the growth of the market. Canada, being the largest producer and exporter of peas, is a key contributor to the North American pea starch market.
Europe market is expected to showcase remarkable growth in the next couple of years due to the high usage of pea starch in processed food items and expanding application in various end-use industries.
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