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Global Pea Starch Market to Grow at a CAGR of 8.4% During 2021-2026, Aided by the Increasing Health Consciousness

According to a new report by EMR titled, ‘Global Pea Starch Market Report and Forecast 2021-2026’, the market attained a value of about USD 343 million in 2020. The industry is further expected to grow at a CAGR of 8.4% in the forecast period of 2021-2026 to reach a value of USD 557 million by 2026.

The increasing health consciousness among consumers is driving the market growth. Pea starch’s excellent gelling and thickening properties help maintain consistency of food product formulations. Nowadays, people are shifting to gluten-free bakery products, which, in turn, is enhancing the demand for pea starch. Pea starch can be used to prepare many food items like baked goods, pasta, noodles, soup, sauces, and snacks. Further, it blends well with other starch formulations to meet specific requirements.

With the increasing consumer demand to reduce the usage of modified starches, pea starch has come into greater focus. The presence of various nutrients, minerals, and phytonutrients in peas makes it a healthier option. Moreover, the growing popularity of veganism and flexitarian diet is significantly contributing to the demand for plant-based food products and dietary supplements, acting as a catalyst for the growth of the global pea starch industry. The easy availability of these plant-based products and dietary supplements through e-commerce platforms like Amazon (NASDAQ: AMZN) and Alibaba (NYSE: BABA) is expected to enhance the demand for pea starch in the forecast period.

Market Analysis by Type, Application, and Region:

  • The market on the basis of type can be divided into organic/non-GMO and conventional.
  • Based on application, the industry can be segmented into food and beverages, feed, and others.
  • The regional markets for pea starch include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The increase in the number of health-conscious customers is driving the market growth.
  • Pea starch is highly functional and blends well with other starch formulations, thus, leading to an increase in the consumption and demand for pea starch.
  • The unique thickening and gelling properties of pea starch that help maintain the consistency of food products significantly contribute to the product demand, thus, aiding the market.
  • The growing innovations by the leading players to develop clean label products are expected to further propel the market forward.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for pea starch for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the types, applications, and regions of pea starch.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global pea starch market are Ingredion Incorporated, Roquette Frères, Yantai Shuangta Food co., LTD, PURIS, Emsland Group, and Axiom Foods, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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