Meticulous Research®—a leading global market research company, published a 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.'
According to this latest publication from Meticulous Research®, the pea starch market is projected to reach $307.4 million by 2029, at a CAGR of 7.7% from 2022 to 2029. The growth of this 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
The pea starch market is segmented by nature (conventional, organic), type (modified pea starch, native pea starch), function (thickener & gelling agent, binder, stabilizer, disintegrant, and other functions), application (food & beverage (bakery & confectionery products, dairy products, soups & sauces and savory & prepared food products, meat & seafood products, other food products), paper industry, pharmaceuticals & chemicals, animal feed and pet food, and other applications), and geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.
Based on nature, the pea starch market is segmented into organic and conventional. In 2022, the conventional pea starch 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 availability of crops grown through traditional harvesting methods (using chemical fertilizers) and easy accessibility to cost-effective conventional peas. Additionally, the longer shelf life of conventional pea starch and the wide availability of substantial crop varieties further support the growth of this segment.
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. The fast growth of this segment is mainly attributed to the trend of sustainable and natural food, awareness about clean-label products, and a wide range of applications of native pea starch in the food & 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, stabilizer, disintegrant, and other functions. In 2022, the thickener & gelling agent 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 growing use of pea starch as a thickener & 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 savory & prepared food products, meat & seafood products, and other food & beverage products); paper industry; pharmaceuticals & chemicals; animal feed and pet food; and other applications. In 2022, the food & beverage segment is expected to dominate the pea starch market. The dominant position 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. Additionally, 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.
This research report analyzes major geographies and provides a comprehensive analysis of North America (the U.S. and Canada), Europe (Germany, U.K., France, Italy, Spain, and RoE), Asia-Pacific (China, India, Japan, Australia, and RoAPAC), Latin America (Brazil, Mexico, Argentina, RoLATAM), and the Middle East & Africa. In 2022, North America is expected to account for the largest share of the pea starch market. The large share of this market is mainly attributed to the large-scale production of dry peas, the well-established food & beverage industry, rising demand for convenience and processed foods, an increase in demand for gluten-free food products, and strong demand for organic and free-from food. However, the Asia-Pacific region is projected to register the highest CAGR during the forecast period.
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).
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