by Pea starch is a commercially produced ingredient extracted from yellow peas. It is commonly used as a thickening agent and stabilizer in foods such as soups, sauces, gravies, and salad dressings. Additionally, pea starch is increasingly being used as a substitute for wheat or corn starch in gluten-free and plant-based products. With rising health concerns over gluten consumption and growth in veganism and flexitarian diets, demand for gluten-free and plant-based alternatives has surged in recent years. Pea starch provides texture and viscosity alongside being easily digestible, hypoallergenic, and having a neutral taste – making it suitable for a variety of foods. The global pea starch market is estimated to be valued at US$ 157.88 Bn in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Increased demand for gluten-free and plant-based products is expected to be a major driver for the pea starch market over the forecast period. According to research, over 30% of U.S. consumers actively try to limit gluten consumption. This growing focus on a gluten-free diet presents significant opportunities for pea starch as a suitable substitute in breads, pasta, baked goods and other food products. The flexitarian and vegan movement have further accelerated demand for plant-based alternatives to meat and dairy. Pea starch provides texture and functionality in meat substitutes and other vegan foods such as creamers and cheeses. This rising demand for plant-centric diets is thus fueling the need for plant-based ingredients like pea starch. These macro trends are enabling pea starch to flourish in the global food industry.
Segment Analysis
The pea starch market can be segmented by nature into organic pea starch and conventional pea starch. The conventional pea starch dominates the market as it is easily available and cost efficient. It is the most commonly used variant across various applications such as food, paper making, and textile sizing.
PEST Analysis
Political: There are no major political risks impacting the pea starch market. Supportive government policies towards the agriculture sector in major producing regions are aiding the market growth.
Economic: The global economy is witnessing steady growth providing stable demand for pea starch across industries. Additionally, the rising disposable income is increasing the spending on packaged and processed food items incorporating pea starch.
Social: Growing health consciousness among consumers is driving the demand for plant-based and gluten-free products. Pea starch being a vegetable-based ingredient appeals to health-savvy consumers.
Technological: Manufacturers are investing in innovative technologies to improve the functional properties and yield of pea starch. This is enabling new product development and expanding the application scope of pea starch.
Key Takeaways
The Global Pea Starch Market Demand is expected to witness high growth over the forecast period supported by the expanding food processing industry.
Regional analysis: The Asia Pacific dominates the global pea starch market with the largest share. China and India are the major producers and consumers of peas used for starch extraction. Growing food processing industry and rising disposable incomes are fueling product demand in the region.
Key players operating in the pea starch market are Roquette Freres, Meelunie BV, Emsland Group, Cosucra Groupe Warcoing SA, Vestkorn Milling AS, Ingredion Incorporated, Axiom Foods Inc., AGT Food and Ingredients, and Puris Foods.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
