Pea Starch Market Demand, Size, Portfolio, Top Companies, Regional Growth | Forecast
Market Overview
Peas are a rich source of starch, containing 40% starch. This starch is in high demand as it has no color or taste. Therefore, it can be used in many end-use industries. A new report on the global pea starch market, published by Market Research Future (MRFR), says that this market can achieve 11.3% CAGR during the forecast period (2018-2023). In terms of valuation, the market can be worth USD 165.2 Mn by the end of the forecast period.
The most important driver for the global pea starch market growth is gluten-free nature. The rising trend of gluten-free diet among health-conscious consumers is inducing high demand for pea starch in the food & beverage industry. Therefore, pea starch is being used for preparing various food products. Pea starch used for preparing different protein shakes too. Its use is increasing in the industrial sector too, especially in industrial biorefineries. Other drivers for the global pea starch market growth include high nutritional value and low-calorie formulation. However, the allergic reaction caused by peas can restrain the global pea starch market growth.
Key Players
Big players in the global pea starch market are AGT Food & Ingredients (Canada), Axiom Foods Inc. (USA), Cosucra Groupe Warcoing SA (Belgium), Dakota Dry Bean (USA), Emsland Group (Germany), Felleskjøpet Rogaland Agder (Norway), Meelunie B.V. (Holland), Parrish & Heimbecker Ltd. (Canada), Puris Foods (USA), Roquette Freres (France), The Scoular Company (USA), Shandong Jianyuan Group (China), Qingdao CBH Co. Ltd. (China), Vestkorn Milling AS (Norway), and Yantai Oriental Protein Tech Co. Ltd. (China).
Market Segmentation
The global pea starch market analysis segmentation encompasses application, function, and grade. MRFR’s research on the market highlights many facets of the market in-depth.
The application-based segmentation of this market is covering food & beverages, industrial application, pet food, and others. Among these segments, the food & beverages segment has the largest market share due to the high demand for pea starch for the preparation of various food products. During the forecast period, the industrial application segment can be the fastest-growing segment in the market.
Regarding function, the pea starch market share has been segmented into binding & thickening, film-forming, gelling, texturizing, and others. Among these segments, binding & thickening segment dominates the market. The gelling segment has been anticipated to rise as the fastest-growing market segment.
Based on grade, the market has been segmented into food, feed, and industrial. Among these segments, food is the largest market segment due to the high demand for pea starch market revenue in the food and beverages industry. However, the industrial segment can be the fastest-growing segment due to the increasing demand for pea starch in many end-use industries.
Regional Segmentation
A geographical outlining of the global pea starch market size covers Asia Pacific, North America, Europe, and Rest of the World (RoW).
During the review period, the market in the Asia Pacific region can expand significantly due to the heavy use of pea starch to prepare noodles and vermicelli. The rapid expansion of the food & beverages industry in this region is also aiding the market growth in this region. Other countries that are important markets in this region are China, India, and Japan. An examination of the remaining countries in the Asia Pacific region featured in this report sums up the additional market revenue from some other countries.
In North America, the market is surging due to heavy demand for pea starch as animal feed and increased consumption of processed food. As most of the market players are based in the USA and Canada, maximum revenue comes from these countries. Mexico is the third-largest market in terms of revenue.
In Europe, the expansion of the market can be noteworthy during the forecast period due to the rising demand for processed food. The increasing utilization of pea starch in many end-use industries for multiple purposes. Other countries that are important markets in this region are France, Germany, Italy, and Spain. Research on the remaining countries in Europe featured in this report estimate the strong addition to market revenue from various other countries in this region.
The RoW segment covers South America, Africa, and the Middle East. Africa market has low income, low availability of technology, and low production rate. The Middle East market has many religious restrictions. Therefore, South America is the better market due to its economic stability.
Latest Industry News
Cargill is set to invest USD 75 Mn to help Puris Foods, the largest North American producer of pea protein to renovate the latter's former cheese plant in western Minnesota. Puris Foods has plans to retrofit the shuttered AMPI plant outside Dawson to produce the pea protein. 29 AUG 2019
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