Dublin, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The "Pea Starch Market by Nature; Type; Function; Application - Global Forecasts to 2029" report has been added to ResearchAndMarkets.com's offering.
According to the research report, the pea starch market is projected to reach $307.4 million by 2029, at a CAGR of 7.7% from 2022 to 2029. The report provides an in-depth analysis of the pea starch market across five major geographies, emphasizing the current market trends, market size, and recent developments and providing the forecast till 2029.
The high growth of the pea starch 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.
Based on nature, the pea starch market is segmented into organic pea starch and conventional pea starch. In 2022, the conventional pea starch segment is expected to account for the larger 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, easy accessibility to cost-effective conventional peas, the longer shelf life of conventional pea starch, and the wide availability of substantial crop varieties.
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 of 2022-2029. The fast growth of this segment is mainly attributed to the growing trend of sustainable and natural food, awareness about clean-label products, and the wide range of applications in the food and 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, stabilizers, disintegrants, and other functions. The thickener segment is projected to register the highest CAGR during the forecast period of 2022-2029. The growth of this segment is mainly attributed to the growing use of pea starch as a thickener and 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 savoury & prepared food products, meat & seafood products, and other food and beverage products); paper industry; pharmaceuticals & chemicals; animal feed and pet food; and other applications. In 2022, the food and beverage 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 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. Also, 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.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Insights
5. The Impact of Covid-19 on the Pea Starch Market
6. Pea Starch Market, by Nature
7. Global Pea Starch Market, by Type
8. Global Pea Starch Market, by Function
9. Global Pea Starch Market, by Application
10. Pea Starch Market, by Geography
11. Competitive Landscape
12. Company Profiles (Business Overview, Product Portfolio, Financial Overview, and Strategic Developments)
Axiom Foods Inc. (U.S.)
Dakota Dry Bean Inc. (U.S.)
American Key Products Inc. (U.S.)
Roquette Freres (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)
Ebro Foods S.A. (Spain).
For more information about this report visit https://www.researchandmarkets.com/r/cg7q2e-starch-market?w=12
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