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| Pea Starch Market |
Pea starch is a carbohydrate extracted from yellow peas. It is used as a thickening and binding agent in food products. Pea starch offers several properties that make it a suitable substitute for corn, wheat, and potato starch. It is low in calories, fat-free, and gluten-free. It provides texture in sauces, soups, and gravies without altering the flavor. The growing vegan and gluten-free trends worldwide have increased the demand for plant-based food ingredients like pea starch.
The Global pea starch market is estimated to be valued at US$ 157.88 Bn in 2024 and is expected to exhibit a CAGR of 21. % over the forecast period
2024 to 2030.
Key Takeaways
Key players operating in the Pea Starch market are Tesla Inc., First Solar
Inc., Hanergy Thin Film Power Group, and Suntech Power Holdings Co., Ltd. These
players accounts for major share of the market.
There is high growth potential in application sectors like bakery, dairy, meat
alternatives, and soups & sauces. Growing health consciousness is driving
demand for plant-based meat substitutes made using pea starch.
North America and Europe currently dominate the pea starch market. However,
Asia Pacific is expected to exhibit fastest growth during the forecast period
supported by population and economic growth in countries like China and India.
Expanding food processing industry in developing nations offer lucrative
opportunities.
Market drivers:
- Growth of vegan and gluten-free food products is majorly fueling the demand
for pea starch as an alternative. Its distinctive properties makes it suitable
for wide range of applications.
- Improving standards of living in developing countries is increasing
expenditure on premium and health food products using pea starch.
Market restraints:
- High dependency on climate conditions for pea cultivation can challenge
consistent supply of pea starch. Natural calamities affect pea production.
- Price volatility of peas make pea starch production costly at times
restricting its widespread adoption in foods.
Segment Analysis
The pea starch market can be segmented by type, nature, grade, function, end
use and packaging. By type, the market is dominated by food grade segment as
pea starch finds extensive application in food products like soups, sauces,
gravies, bakery goods, confectionery products etc. It is preferred due to its
neutral flavor and ability to provide texture and consistency to food products.
By nature, conventional pea starch holds major share as it is cost effective
and easier to produce compared to organic pea starch. By grade, food grade pea
starch dominates as it complies with stringent purity standards of food
industry. By function, pea starch acts as a thickening and binding agent in
many food applications. By end use, food industry is the largest consumer of
pea starch owing to increased demand for plant-based ingredients. By packaging,
flexible packaging such as bags & pouches are commonly used to seal pea
starch.
Global Analysis
Regionally, Europe holds largest share in global Pea
Starch Market Share mainly attributed
to strong foothold of processed food industry and extensive application of pea
starch across various food products. U.K., France, Germany, Italy etc. are key
European markets for pea starch. North America is another major regional market
driven by increasing health consciousness and rise of veganism. U.S. and Canada
are major contributors to North American pea starch market growth. Asia Pacific
is fastest growing region on back of rapid expansion of food & beverage
sector in emerging economies such as China, India. Rising preference for
plant-based ingredients and surge in demand for convenience food also support
pea starch market growth in Asia Pacific region. Latin America and Middle East
& Africa are projected to witness moderate growth rate over forecast
period.
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Starch Market
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