The Global Pea Starch Market size is expected to reach $222.5 million by 2028, rising at a market growth of 6.1% CAGR during the forecast period
Carbohydrates called pea starch are taken from peas and utilized in the food and animal feed sectors. Due to their renewable and biodegradable qualities, they have been quickly embraced as a substitute for fossil fuels in several chemical applications.
New York, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Pea Starch Market Size, Share & Industry Trends Analysis Report By Source, By Grade, By Product Type, By Function, By Application, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06422597/?utm_source=GNW
Additionally, pea starch consistency increases the crispness of certain extruded snacks and foods to increase volume.
The demand for vegan-friendly, gluten-free, and non-GMO products is expanding as healthy eating becomes increasingly popular among consumers. An excellent food ingredient that satisfies all these requirements is pea starch. Contrary to other starches frequently used in the food business, pea starch offers outstanding thickening and gelling qualities since it is a rich source of amylose. The food & beverage, paper, textile, animal feed industries, and cosmetics are just a few of the businesses that use pea starch.
In addition, the baking industry is experiencing a considerable demand for pea starch, followed by food applications for meat and poultry. Due to the increased use of processed and convenience foods, pea starch has grown in demand. As a byproduct of the manufacture of pea protein and with minimal additional equipment and resources needed, pea starch is a cost-effective ingredient for application in packaged food items.
The businesses that produce pulse starches like pea starch have a significant opportunity to capture market share, given the increasing consumer preference for plant-based components and goods. The careful purchasing selections made by consumers inspired by environmental sustainability provide further support.
COVID-19 Impact Analysis
The COVID-19 pandemic had negative effects on many spheres of the economy. The pandemic caused a medical emergency, which increased the demand for sanitation products, food items, and medicinal supplies. However, the World Bank reports that export limitations followed by supply chain interruptions caused a reduction in the import of pulses and legumes (including peas). The price of many agricultural products like peas, was directly impacted by export limitations, which further have a negative impact on the cost of subsequently processed products, such as protein, fiber, and starch. Therefore, during and post pandemic, a significant obstacle for market growth has been the high cost of many pea-based products. This problem grew as a result of the recession brought on by the pandemic, which left many people with less disposable income.
Market Growth Factor
Rising consumer demand for clean-label food products
Clean-label replacements with many modified starches have been developed, and they are currently gaining popularity as consumers worldwide grow more health conscious. A more narrow focus on foods with fewer processed ingredients, more natural components, fewer synthetic additives, and foods without antibiotics is driving the demand for clean-label starches. Due to the growing demand for healthy products, the availability of processed foods containing pea protein has greatly expanded. In addition, due to the demand for pea protein, the range of alternative pea-based products based on fiber and starch has increased. Pea starch is a prominent non-GMO and clean-label ingredient that provides several consumers with low calories and fat options.
Increased demand for pea starch from the pet food sector
Two major developments are driving the pet food industry, which are premiumization and humanization. Owners are increasingly humanizing their pets and treating them like family members. As a result, there is an increase in demand for high-end pet food that offers nutritional advantages, greater digestibility, and superior ingredient quality. In pet food, pea starch has become a prominent source of carbohydrates. It has gelling and thickening qualities that improve the quality and flavor of the kibble. In addition, pea starch is an efficient stabilizer in pet food products and provides allergen-free alternatives.
Market Restraining Factor
High number of cheap alternatives available
The prevalence of cassava, corn, and potato starch in emerging as well as developed countries due to their high starch-yielding capacity and low cost is one of the major issues preventing the industry from expanding. The most starch of any cereal is found in maize, which is also one of the most widely consumed cereal grains. The starch percentage in corn is equivalent to 70 % of its weight. Due to their inherent gluten-free nature, economic viability, and high starch yield, corn, potato, and tapioca starches are increasingly used in gluten-free items such as custards, processed meats, snack foods, and shredded cheese.
Based on source, the pea starch market is categorized into organic and inorganic. The inorganic segment garnered the highest revenue share in the pea starch market in 2021. Due to increased consumer demand for gluten-free products, businesses are increasingly choosing traditional or inorganic pea starch as an ingredient, hence, augmenting the growth of the segment. Inorganic pea starch is less expensive than wheat, rice, and cassava as well as has less carbohydrate concentration than many well-known starches like corn and potato.
On the basis of grade, the pea starch market is divided into food, feed, and industrial. The feed segment recorded a significant revenue share in the pea starch market in 2021. The benefits of feeding peas and pea starch to animals around the world have been acknowledged by the feed industry, propelling the segment’s growth. Keeping up with present demand and a rise in raw pea production, peas and the components they make up in animal feed products have moved to numerous countries in the Asia Pacific and Latin America.
Product Type Outlook
Based on product type, the pea starch market is classified into native starch and modified starch. The native segment recorded the largest revenue share in the pea starch market in 2021. Since native starch is more biocompatible and environmentally benign than synthetic polymers, it has excellent prospects for industrial applications. The growth of the segment is attributed to the extensive use of native starch in several industries, including those in the textile, paper, food, and petroleum sectors.
Based on function, the pea starch market is segmented into binding & thickening, gelling, texturizing, film forming, and other functions. The gelling segment garnered a remarkable growth rate in the pea starch market in 2021. Pea starch is utilized as a gelling additive in the food and beverage industry for various food products because it helps water-based products maintain their consistency. It is used in various confectionary items like jellybeans, chocolates, and chewing gum.
On the basis of application, the pea starch market is fragmented into food & beverages, industrial, pet food, and feed. The food and beverage segment procured the highest revenue share in the pea starch market in 2021. Pea starch has many uses in the food and beverage industry, backed by its affordability and nutritional advantages, which also aid in the growth of the segment. It is utilized in various food applications, including bakery, confectionary, dairy, and processed food and beverage items. Pea starch is a clean-label alternative to potato, corn, and other modified starches.
On the basis of region, the pea starch market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment garnered the maximum revenue share in the pea starch market in 2021. Pea starch is in high demand in the Asia Pacific from nations like Japan, China, India, and other Southeast Asian nations. Due to the abundance of resources and labor in these nations, pea starch production has become more affordable. Therefore, the main application area for pea starch is food and beverage production. Due to its ability to reduce the price of finished goods, pea starch is being used as a replacement for normal starches by food makers. This is also relevant, given that consumers in the region are generally price-conscious.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ingredion Incorporated, Roquette Freres SA, Emsland Group, Dakota Dry Bean, Inc., The Scoular Company, Axiom Foods, Inc., Yantai Shuangta Food co., LTD, PURIS, NutriPea LP and Organicway Inc.
Scope of the Study
Market Segments covered in the Report:
By Product Type
• Binding & Thickening
• Fil Forming
• Food & Beverages
• Pet Food
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Ingredion Incorporated
• Roquette Freres SA
• Emsland Group
• Dakota Dry Bean, Inc.
• The Scoular Company
• Axiom Foods, Inc.
• Yantai Shuangta Food co., LTD
• NutriPea LP
• Organicway Inc.
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06422597/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001