Pea starch is extracted from yellow peas and find applications in diversified industries including food, textile, paper making, pharmaceuticals among others. It has various functional properties such as thickening, moisture retention, elasticity, adhesion and emulsification. In food industry, pea starch is commonly used as a stabilizer and thickener in sauces, soups, gravies, bakery products as well as meat products. It has become an alternative for corn and potato starches owing to its neutral taste and ease of digestibility making it suitable for gluten-free and vegan diets. 

The global Pea Starch Market is estimated to be valued at Us$ 137.04 Mn in 2023 and is expected to exhibit a CAGR Of 21.% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The wide applications of pea starch in food industry acts as a key driver for the market. Food industry utilizes pea starch as a thickening agent and stabilizer in variety of products including sauces, soups, gravies, baked goods and meat products due to its neutral taste and ease of digestion. According to research conducted by European Starch Industry Association, food industry accounted for over 80% of total pea starch consumption globally. Growth of food processing sector has further propelled the demand for pea starch. The augmenting demand for plant-based, gluten-free and non-GMO ingredients has led food manufacturers to replace corn and potato starches partially or fully with pea starch in their formulations, thereby supplementing market revenue growth over the forecast period.

SWOT Analysis

Strength: Pea starch is a natural and plant-based ingredient which makes it highly desirable for use in foods and other applications where sustainability is valued. It provides texture and palatability to foods without strong flavors of its own. The global demand for plant-based and sustainable ingredients is increasing which works as a strength for pea starch market.

Weakness: Pea starch production requires a large agricultural base and depends on climatic conditions which can impact the supply. It faces competition from other starches such as corn and potato starch. The pea farming and processing also requires significant capital investments and resources.

Opportunity: The rise in vegan and gluten-free food trends provides an opportunity to increase the use of pea starch as an alternative. It can replace starch from rice, corn, tapioca or wheat in many products. The emerging markets in Asia Pacific and Middle East regions offer high growth potential for pea starch.

Threats: Factors such as climate change and unpredictable weather patterns can negatively impact pea crop yield and availability. Price volatility of peas in the international market also poses uncertainty for pea starch producers. Strict environmental regulations around agriculture can increase production costs.

Key Takeaways

The Global Pea Starch Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 137.04 million by 2024. The growth can be attributed to rising demand for plant-based and sustainable ingredients across food and other industries.

Regional analysis:

North America currently dominates the pea starch market owing to large production of peas and established pea processing industry in Canada. Europe is another major producer and consumer, led by countries like France and Germany. Asia Pacific region is expected to see the fastest growth in demand and emerging as a major market for pea starch. This is due to increasing health consciousness and expanding food processing sector in countries like India and China.

Key players:

Key players operating in the pea starch market include Roquette Freres, Cosucra Groupe Warcoing SA, Emsland Group, Meelunie etc. Roquette Freres is one of the largest producers of pea starch globally with processing facilities in multiple countries including Canada, France and China. Cosucra operates the largest pea splitting facility in the world based in Belgium.

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