Newark, NJ, July 28, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global pea starch market is expected to grow from USD 91.23 million in 2019 and to reach USD 155.81 million by 2027, growing at a CAGR of 6.92% during the forecast period 2020-2027.
The high starch yield found in pea has increased the demand for the product, which has led to market growth. The pea starch provides fibre and protein which are essential for health, and thus consumers are increasingly using pea starch as a food ingredient. It is useful for the preparation of gluten-free, lactose-free and allergen-free solutions.
Pea starch is derived from the yellow peas and is a white powder which has a neutral taste. It is different from the other starch as it has a rich source of amylose and functions as a carbohydrate store. It consists of medium viscosity and strong gelling properties. Moreover, it has a better shear ability and contains acid. Pea starch is used in many food products which require elastic texture. Further, it is used to provide clean labels to food products. These properties of pea starch make it useful for different verticals. It has many nutritional benefits which are used in the pharmaceutical industries.
The major driving factor for the market growth is the growing use of pea starch in the production of the convenience foods. The popularity of pea starch is growing among the manufacturers, especially in baking and textile industry. The reason can be attributed to the growing demand for sustainable and nutritional foods by the consumers due to the ever-increasing heart diseases. However, the retrogradation process which is done by the manufacturers affects the functionality of pea starch, which is hindering the market growth.
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Key players operating in the pea starch market are Roquette Frères, Cosucra Groupe Warcoing, Emsland Group, Ingredion Incorporated, Yantai Shuangta Food Co. Ltd., Axiom Foods Inc. and others. The manufacturers of the pea starch market are focusing on the strategies which will help them expand and gain higher market shares. Some of the expansionary policies which the companies are adopting are mergers & acquisitions, recent developments, joint venture, collaborations, product innovations and partnership. Roquette Frères and Ingredion Incorporated are some of the biggest manufacturers and suppliers of pea starch in the global market.
- In April 2019, Roquette Frères, a leading manufacturer, launched a new pea starch especially for the cosmetics market, named as 'Beaute by Rouquette ST 720.'
- In December 2018, Emsland Group made an agreement with the IMPAG Group for distribution of the pea starch.
The organic segment dominated the market and held the largest market share of 63.72% in the year 2019
On the basis of the source segment, the global pea starch market includes organic and inorganic. The organic segment dominated the market and held the largest market share of 63.72% in the year 2019. Organic products are preferred by the consumers more as compared to the inorganic products. The rising awareness among the consumers about the growing health diseases is the primary factor for market growth.
Binding and thickening segment dominated the market and held the largest market share of 31.82% in the year 2019
On the basis of the function segment, the global pea starch market is segmented into gelling, texturizing, binding & thickening and film-forming. Binding & thickening dominated the market and held the largest market share of 31.82% in the year 2019. The high content of amylase present in the pea starch is useful for the purpose of binding and thickening. It is used in many end-user industries for safeguarding the consistency and enhancing the texture of the product.
Food segment dominated the market and held the largest market share of 41.02% in the year 2019
The grade segment includes food, feed and industrial. The food segment dominated the market and held the largest market share of 41.02% in the year 2019. The nutritional benefit offered by pea starch has increased the demand for it in the convenience food. It increases the consistency and stability of the product and makes it fit for human consumption.
Food segment dominated the market and held the largest market share of 38.21% in the year 2019
The end-user is categorized into food and beverage, pharmaceutical, animal feed, paper, textiles, pet food and cosmetics. The food and beverage segment dominated the market and held the largest market share of 38.21% in the year 2019. The food and beverage industry is using pea starch increasingly in the production process. It is a nutrition-rich ingredient which does not cause any harm to the health and thus is considered safe for consumption.
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Regional Segment Analysis of the Pea Starch Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global pea starch market is classified into North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Asia-Pacific region accounted for the significant market share of 33.54% in the year 2019. The reason for the same can be attributed to the growing demand for convenience food in the region. Further, the growing health awareness among the consumers has led to an increase in usage of the pea starch by the manufacturers. Moreover, the extended attributes of the product make it suitable for application in different industries. Apart from this, North America is expected to be the fastest-growing region during the forecast period. The growing consumption of processed food has led to the market growth of the market in the region.
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About the report:
The global pea starch market is analyzed on the basis of value (USD Million) volume (Tons), export (Tons), and import (Tons). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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