The global pea
starch market size is projected to grow from USD 136 million in 2020 to
USD 192 million by 2025, recording a compound annual growth rate (CAGR) of 7.0%
during the forecast period. Pea starch is a cost-effective, clean label
ingredient with high amylose content and numerous health benefits, due to which
it is projected to witness significant growth in the global food industry. The
increasing demand for clean label, high quality, gluten-free food products
across regions is a major factor projected to drive the growth of the pea
starch market. In addition, the increasing demand for convenience products and
high-quality clean label feed and pet food products in various regions across
the world are the key factors that are projected to drive the market growth.
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Some of the key players present in the pea starch market
include Emsland Group (Germany), Ingredion Incorporated (US), Cosucra Groupe
Warconing (Belgium), and Roquette Frères (France), Axiom Foods (US), and Yantai
Shuangta Food (China). New product launches and expansions are some of the
dominant strategies that are adopted by prominent players to strengthen their
presence in the pea starch market. These strategies have helped companies to
expand their product offerings for pea starch and are projected to drive market
growth.
On the basis of
source, the organic segment is projected to be the faster-growing during the
forecast period.
By source, the organic segment is projected to be the
faster-growing segment. The changing preferences and rising awareness about the
overall health of individuals have led to an increase in the number of people
opting for organic products over the inorganic ones. The trend of using clean
label products will further encourage the use of organic pea starch in the pea
starch market.
On the basis of
function, the binding & thickening segment is projected to hold the largest
market share during the forecast period.
On the basis of function, the binding & thickening
segment is projected to account for the largest market share due to the
excellent binding & thickening property and high amylose content of pea
starch. Pea starch helps in enhancing the texture, consistency, and quality of
products. The increased demand for convenience food products and better-quality
feed products is projected to contribute to the growth of this segment.
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The Asia Pacific
region is projected to be the fastest-growing market for pea starch during the
forecast period.
The Asia Pacific region is projected to be the
fastest-growing market for pea starch during the forecast period. Asia is among
the largest pea processing regions in the world. The growing disposable incomes
and appetites for convenience and comfort in a fast-paced, urbanized world have
caused a serious growth in the consumption of processed food products. This
will lead to the growth of the pea starch market in the region as pea starch
helps in enhancing the quality of processed food products.
