According to the recent FMI report, the sales for pea starch is expected to surpass a value of US$ 115.9 Million in 2031, rising at a CAGR of around 5.2% through the end of 2031.
Due to applications such as thickening and texturizing, binding, gelling and other applications pea starch is widely used in a number of industries such as the food and beverage industry, pet food, cosmetics and pharmaceutical industry. Hence owing to the applications in a wide variety of industries pea starch market is expected to show significant growth.
For the past few years, a huge consumer base around the globe are suffering from food allergies. Thus, the demand for allergen-free and healthy food has shown significant growth which has positively affected the sales of pea starch. Moreover, pea starch is also used as an additional ingredient in a variety of gluten-free food and beverage preparations.
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Key Takeaways from the Pea Starch Market Study
- Pea Starch is widely consumed in food processing functions of thickening and binding, gelling and texturizing among others. While thickening and binding applications are dominating the application segment holding nearly 35% market share. However, gelling applications is expected to grow with a significant CAGR of 8.5% over the forecasted period.
- Pea starch is widely consumed in food processing end-use which is accounting for around 25% of the total market value. However, increased potential in the bakery products industry has led to an exceptional CAGR of around 9.8%.
- As the focus on food nutrition grows, non-GMO and clean label attributes are gaining traction. As a result, organic pea starch, which is rising at a rate of close to 8%, are posing a significant threat to conventional pea starch, which owns more than 85% of the market share.
- Due to a robust and active food processing industry, North America and Europe are the major markets for pea starch accounting for more than 54% of the global market. However, lucrative opportunities are now emerging in the APEJ and Latin American markets, which are developing at a CAGR of 9.7% and 8.0%, respectively.
“Manufacturers are seeking to produce pea starch-based products in order to meet rising customer demand for nutritious and sustainable foods. They are also providing convenience and on-the-go foods with a healthy twist to satisfy the demand of millennial customers, contributing to the worldwide pea starch market’s rise,” says the FMI analyst.
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Increased use for human consumption and application as a stabilizing agent in food processing is expected to drive growth in food-grade pea starch throughout the forecast period. Industrial grade pea starch, on the other hand, is predicted to expand at a faster rate of over 8%, with textile, adhesive, and cosmetic applications in packaging. These trends will be aided by the use of pea starch in the manufacturing of bioplastics.
Who is winning?
Key players operating in the global pea starch market are focusing on reaching a large consumer base by implementing various strategies such as marketing and promotional activity, strengthening distribution channels and adopting sustainable production.
Some of the leading companies offering pea starch are Axiom Foods Inc., Dakota Dry Bean, Parrheim Foods, Cargill Inc., Vestkorn, Roquette, Sanstar Bio-Polymers, Emsland Group, American Key Products and others.
Market Segments Covered in Pea Starch Industry Analysis
By Nature :
- Organic
- Conventional
By Application :
- Thickening and Binding
- Gelling
- Texturizing
- Others
By Grade :
- Feed Grade
- Food Grade
- Industrial Grade
By End-Use :
- Soups and Sauces
- Snacks and Savory
- Bakery Products
- Food Processing Industry
- Cosmetics
- Pharmaceuticals
- Pet Food Industry
By Region :
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
Summary
Diversified application of pea starch in wide variety of industries such as food and beverage, pet food, cosmetics, pharmaceuticals is one of the key reason behind the growing demand for pea starch market. In addition to this increasing awareness regarding health benefits of consumption of pea starch is also souring growth to the pea starch market.
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