Pea Starch Market Value to Top $307.4 Million by 2029: What’s Shaping Growth?
Rising Demand for Gluten-Free Products Fuels Pea Starch Market Growth
Meticulous Research® has unveiled a detailed study titled ‘Pea Starch Market by Nature, Type, Function, and Application - Global Forecasts to 2029,’ which outlines the promising future of the pea starch industry.
The global pea starch market is expected to reach $307.4 million by 2029, with a CAGR of 7.7% from 2022 to 2029. One of the primary factors driving this growth is the increasing demand for gluten-free products, particularly among individuals diagnosed with celiac disease and other food allergies. As the population of health-conscious consumers grows, the need for functional food products that offer both health benefits and convenience has surged. Pea starch, recognized for its natural, allergen-friendly properties, is being incorporated into a wide range of products to meet this demand. Additionally, the rise in veganism and plant-based diets has created new opportunities for the pea starch market, particularly as consumers seek out non-GMO, vegan, and gluten-free ingredients. Despite these positive trends, the availability of alternative starches and fluctuations in dry pea production are potential obstacles to growth.
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Detailed Market Segmentation
The pea starch market is segmented into various categories, including nature, type, function, application, and geography. The nature-based segment distinguishes between organic and conventional pea starch, while type-based segmentation separates native from modified starch. Functional segmentation highlights pea starch’s role as a thickener, binder, stabilizer, and gelling agent. Application-based segmentation covers food & beverage, pharmaceuticals, paper industry, and animal feed.
Conventional Pea Starch Leads the Market
Conventional pea starch held the largest market share in 2022, primarily due to its affordability and ease of production. Conventional farming methods that involve the use of chemical fertilizers allow for large-scale production, ensuring a steady supply of cost-effective pea starch. Additionally, the extended shelf life of conventional starch makes it a preferred choice for food manufacturers looking to optimize storage and reduce costs. The dominance of this segment is further supported by the wide availability of conventional peas and the variety of crops produced through traditional agricultural practices.
Native Pea Starch Gaining Popularity
The native pea starch segment is anticipated to grow at the fastest rate over the forecast period, driven by the increasing trend toward clean-label and natural food products. Native pea starch, known for its minimal processing and natural extraction methods, aligns well with consumer demand for transparency and sustainability in food production. Its use in non-GMO, vegan, gluten-free, and allergen-friendly products has further increased its popularity, particularly in the food & beverage sector, where health-conscious consumers are seeking out wholesome ingredients.
Food & Beverage Sector Dominates the Market
In 2022, the food & beverage segment emerged as the largest consumer of pea starch, thanks to its functional properties that enhance the texture and stability of various food products. From bakery and dairy products to soups, sauces, and ready-to-eat meals, pea starch plays a crucial role in improving the quality of gluten-free and allergen-friendly foods. The increasing demand for clean-label products and the rising popularity of plant-based diets have further fueled the adoption of pea starch in the food industry, as manufacturers strive to meet the growing consumer preference for healthier and more natural options.
Conclusion: Bright Future for the Pea Starch Market
The pea starch market is on an upward trajectory, driven by the growing demand for gluten-free, allergen-friendly, and plant-based food products. While challenges such as alternative starches and declining dry pea production may impact the market, the expanding applications of pea starch across various industries present numerous growth opportunities. As the demand for natural and sustainable ingredients continues to rise, pea starch is expected to play a critical role in meeting the evolving needs of consumers worldwide.
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Key Players:
The pea starch market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. 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 Frères (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 current value of revenue generated by the global 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 nature, type, function, and application segments create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are likely to offer significant growth opportunities for the manufacturers in this market during the analysis period?
- 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?
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