The global pea starch market size is expected to reach USD 150.7 million by 2028 according to a new study by Polaris Market Research. The report “Pea Starch Market Share, Size, Trends, Industry Analysis Report, By Type (Organic, Traditional); By Application (Gelling, Film Foaming, Binding & Thickening, Texturizing); By End-Use (Food & Beverages, Animal Feed, Pet Food, Cosmetics, Pharmaceutical, Textile); By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market is projected to witness growth over the forecast period owing to increasing demand for convenience food, hectic consumer lifestyle, and rising application in animal feed. The consumption of pea starch has also increased on account of the growing disposable income of consumers, increasing health concerns, and rising awareness regarding nutrition and fitness. Companies are introducing pea starch-based food products to enable consumers to maintain weight, provide nutritional requirements, and align with their health goals.
There has been an increasing shift towards the consumption of organic products. In August 2019, Cargill invested $75 million in PURIS to strengthen its offerings of pea proteins, starches, and fibers. This would enable the company to address the growing consumer demand for plant-based proteins to fulfill their nutritional needs. PURIS offers a wide portfolio of non-GMO and organic pea starch for multiple food and beverage categories.
The end-use for the market includes food & beverages, animal feed, pet food, cosmetics, pharmaceutical, textile, and others. The food & beverage industry uses pea starch in a wide range of products such as dairy, baked goods, meat products, soups, and canned goods. Increasing health concerns among adults as well as kids drive the growth of this segment.
Increasing consciousness towards physical appearance and fitness coupled with a hectic lifestyle has increased the demand for healthy snacks and meal replacements, supplementing the growth. The pet food segment is expected to experience significant growth during the forecast period owing to the shift towards grain-free pet food. Pea starch is increasingly being used in wet and dry pet food, snacks, and treats.
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The applications of pea starch include gelling, film foaming, binding and thickening, texturizing, and others. The gelling segment accounted for the highest share in 2019. The growth in the convenience food industry is expected to drive the market in this segment during the forecast period.
Pea starch is a major component in food products that require an elastic texture owing to its high amylose content. Growing industrial applications of pea starch for gelling, coupled with increasing demand from the animal feed sector are factors expected to provide numerous growth opportunities in the coming years.
Asia Pacific is expected to exhibit significant growth during the forecast period. Population growth, rising disposable incomes, and growing use in food products such as bakery, dairy, and confectionery drive the market growth in the region.
The population in the region is gradually moving from traditional food groups to a range of healthier food options and is willing to spend more on food that offers high nutritional value. With increasing consciousness regarding diet and lifestyle among youth, the market is expected to grow significantly in the coming years.
Some of the major market participants include Parrish and Heimbecker, Ltd., Axiom Foods, Inc., Dakota Dry Bean, Puris Foods, Vestkorn Milling AS, Roquette Freres, Meelunie B.V., AGT Food and Ingredients, Shandong Jianyuan Group, Emsland Group, Yantai Shuangta Food Co., Ltd., Cosucra Groupe Warconing SA, Felleskjøpet Rogaland Agder, and the Scoular Company.
Polaris Market Research has segmented the pea starch market report on the basis of type, application, end-use, and region:
Pea Starch Type Outlook (Revenue, USD Million, 2016 – 2028)
- Organic Pea Starch
- Traditional Pea Starch
Pea Starch Application Outlook (Revenue, USD Million, 2016 – 2028)
- Film Foaming
- Binding and Thickening
Pea Starch End-Use Outlook (Revenue, USD Million, 2016 – 2028)
- Food & Beverages
- Animal Feed
- Pet Food
Pea Starch Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa