Meticulous Research®, a prominent global market research firm, has released an in-depth 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 Meticulous Research®, the pea starch market is projected to reach $307.4 million by 2029, expanding at a CAGR of 7.7% from 2022 to 2029.
The market's growth is largely driven by the rising demand for convenience and processed foods, the growing prevalence of celiac disease and food allergies, increasing demand for functional food products, and a growing vegan population. However, challenges such as the availability of alternative starches and reduced dry pea production may impede market growth.
The report categorizes the market by nature, type, function, application, and geography.
Nature segments include conventional and organic pea starch. In 2022, conventional pea starch holds the largest market share due to its broad availability and cost-effectiveness.
Type segments are divided into native and modified pea starch. Native pea starch is expected to grow the fastest due to the trend towards natural and sustainable food products.
Function segments include thickener & gelling agent, binder, stabilizer, disintegrant, and others. The thickener & gelling agent segment leads due to its extensive use in the food & beverage, pharmaceutical, and pet food industries.
Application segments encompass food & beverage, paper industry, pharmaceuticals & chemicals, animal feed and pet food, and other uses. The food & beverage segment dominates the market due to the high demand for clean-label products.
Geographically, North America is the largest market in 2022 due to its robust food industry, but the Asia-Pacific region is expected to register the highest growth rate during the forecast period.
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).
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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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