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| Pea Starch Market |
Market Overview:
The global pea starch market is estimated to be valued at US$ 126.73 million in 2022 and is expected to exhibit a CAGR of 8.16% over the forecast period
of 2022-2030. Pea starch is a versatile ingredient derived from peas, offering
various advantages such as high amylose content, excellent thickening
properties, and good stability, among others. The increasing demand for natural
and gluten-free products has significantly contributed to the growth of the pea
starch market. Pea starch is widely used in various industries such as food and
beverages, pharmaceuticals, and cosmetics, due to its functional properties and
health benefits.
Market Key Trends:
One key trend in the pea starch market is the growing demand for plant-based
alternatives in the food industry. With the rising health-consciousness among
consumers, there is a shift towards vegetarian and vegan diets. Pea starch,
being a plant-based ingredient, offers a sustainable and healthier alternative
to animal-based products. It is used as a thickening and binding agent in
various food applications, such as soups, sauces, bakery products, and
confectionery, among others. The increasing adoption of pea starch by food
manufacturers to develop clean-label and sustainable products is expected to
drive the market growth in the coming years.
Note: The details about key players are not included in the report.
Segment Analysis:
The pea starch market can be segmented based on application and region. In
terms of application, the dominating segment is the food and beverage industry.
This is primarily due to the increasing consumer demand for healthy and natural
ingredients in food products. Pea starch is a versatile ingredient that can be
used as a thickening agent, emulsifier, and stabilizer in various food and
beverage products such as soups, sauces, bakery goods, and dairy products. Its
superior properties, such as high freeze-thaw stability, excellent texture, and
good water-binding capacity, make it a preferred choice for food manufacturers.
Additionally, the rising trend of vegan and plant-based diets is further
driving the demand for pea starch as a substitute for animal-based ingredients.
Key Takeaways:
The global Pea
Starch Market Growth is expected
to witness high growth, exhibiting a compound annual growth rate (CAGR) of 8.16% over the forecast
period (2022-2030). This growth can be attributed to several factors. Firstly,
the increasing health consciousness among consumers and the growing demand for
natural and clean label products are driving the demand for pea starch in the
food and beverage industry. Secondly, the rising prevalence of various health
issues, such as gluten intolerance and allergies, is leading to the adoption of
gluten-free alternatives, including pea starch. Furthermore, the expanding
vegan population and the shift towards plant-based diets are also contributing
to the market growth.
In terms of regional analysis, North America is expected to emerge as the
fastest-growing and dominating region in the pea starch market. The region has
a well-established food and beverage industry with a high demand for natural
and clean label ingredients. The growing trend of veganism, along with the
increasing preference for gluten-free products, is driving the demand for pea
starch in this region. Additionally, the presence of key players in the pea
starch market, such as Ingredion Incorporated and Scoular Company, further
supports the market growth in North America.
Key players operating in the pea starch market include Groupe Emsland, Roquette
Frères, The Scoular Company, COSUCRA - Groupe Warcoing, Ingredion
Incorporated, Axiom Foods Inc., Yantai Shuangta Food Co. Ltd, Vestkorn Milling
AS, Puris, Meelunie BV, AGT Food and Ingredients Inc., and Shandong Jianyuan
Bioengineering Co. Ltd. These companies are focusing on expanding their product
portfolios, enhancing their distribution networks, and investing in research
and development activities to gain a competitive edge in the market. The
growing demand for pea starch and the increasing number of applications in
various industries present lucrative opportunities for these key players.
Read More,
https://www.newsstatix.com/pea-starch-market-size-and-share-analysis/
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