Pea Starch Market Size, Share & Trends Analysis Report By Type (Food, Feed), By Function (Gelling, Thickeners, Texturizing, Film Forming), By End-use (Food & Beverage, Animal Feed), By Region, And Segment Forecasts, 2024 - 2030

Pea Starch Market Growth & Trends

The global pea starch market size is expected to reach USD 203.6 million by 2030, expanding at a revenue-based CAGR of 12.1% over the forecast period, according to a new report published by Grand View Research, Inc. The growth is majorly driven by the rising demand from nutraceuticals industry coupled with growing consumer inclination toward non-GMO and gluten free diets.

Pea starch is mostly accessible as a by-product of protein extraction. As a result, it is considered to be an economical source of starch as opposed to wheat, potato, and corn starches. Furthermore, growing demand of pea starch from the sum of applicable industries and augmented manufacturing of pea is also anticipated to propel the market growth. However, rising occurrence of retrogradation effects of the functional characteristics of pea starch, may significantly hinder the market growth.

Pea starch is considered to be gluten free as well as non-GMO. It is different from other native starches as it has high amylose content. It can also form a gel in water at a much lower dosage than other variants. It is considered to be an ideal ingredient for food products that require less elastic texture for gums, meats, extruded cereals, coatings, and others.

On the basis of type, the market is segmented into food grade, feed grade, and industrial grade. The product has been progressively used in foods grade segment on account of its capability to supplement protein content in foods, which makes it best for soups and sauces, confectionery, noodles, pastas, meat bakery, and sea foods, among other applications. The market is strengthened as a thickening, texturing, and gelling agent in the production of bakery goods like dressings, cakes, and desserts on account of its encompassing gluten-free properties.

On the basis of application, the market is segmented into food and beverage, animal feed, paper, pharmaceuticals, and textiles segments. Food and beverage segment held a dominant market share of 39.19% in 2018. The product is widely used in food and beverage items, such as confectionary, pasta, dairy, snacks, bakery products, soups and sauces, potato products, poultry, meat, and fish, as a binding and thickening agent. Growing population along with rising demand for healthy food products with good taste and texture is a key factors positively influencing market growth.

Asia Pacific is anticipated to hold a significant market share over the upcoming years especially in the developing markets, such as India and China. Moreover, allergen-friendly food products are projected to enhance growth of the regional market in near future. Favorable regulations in China and India aimed at agricultural industry growth will result in sufficient raw material supply for pea starch producers during the forecast period.

Pea Starch Market Report Highlights

• Gelling functions accounted for the largest market revenue share of 36.3% in 2023. The factors behind this growth are the excellent performance of pea starch as a gelling agent in the food & beverage industry.
• The paper segment is expected to grow at the fastest CAGR of 12.3% from 2024 to 2030. This is driven by the natural, biodegradable properties of pea starch.
• The food segment dominated the market and accounted for a share of 35.1% in 2023. This growth can be attributed to several driving forces, such as the unique properties of pea starch.
• Distribution agreements, product innovations, and strong marketing strategies are the key methods adopted by the market players to expand their competitive positions and visibility in the market.
• The North American pea starch market dominated in 2023. This growth can be attributed to the widespread adoption of advanced industrial applications and manufacturing technologies throughout the region.

Why should you buy this report?

• Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
• Competitive Landscape: Explore the market presence of key players worldwide.
• Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
• Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.

This report addresses:

• Market intelligence to enable effective decision-making
• Market estimates and forecasts from 2018 to 2030
• Growth opportunities and trend analyses
• Segment and regional revenue forecasts for market assessment
• Competition strategy and market share analysis
• Product innovation listing for you to stay ahead of the curve
• COVID-19's impact and how to sustain in these fast-evolving markets

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