Global Pea Starch Market Size is Estimated to Reach USD 246.43 billion by 2030, Growing at a CAGR of 8.45%: Straits Research
The global market for pea starch is growing due to increased flexitarianism and veganism acceptance, alongside a rising demand for dietary supplements. The surge in vegetarianism, driven by social media, is raising awareness about the potential downsides of meat and dairy consumption, contributing to market expansion.
New York, United States, Jan. 09, 2024 (GLOBE NEWSWIRE) -- Pea starch, processed differently than pea flour, the more popular product created from peas, is made from yellow peas. Approximately 40% of peas are made of starch, a white powder with no flavor or color. Non-GMO, non-allergenic, and gluten-free are all characteristics of this starch. Globally, the food and starch industries have seen a sharp rise in the use of pea starch. Pea starch is frequently used because it offers crucial performance and functionality benefits, from easy processing to hard gels.
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*Growing Preference of Consumers for Clean-Label Food Ingredients Drives the Global Market*
Clean-label alternatives to modified starches have been developed, and they are currently gaining popularity as consumers worldwide grow more health conscious. The increased emphasis on minimally processed foods, more natural and whole ingredients, the absence of synthetic additives, and antibiotic-free foods is driving the global demand for clean-label starches. Due to the need for pea protein being addressed, the range of alternative pea-based products focused on fiber and starch has increased. Pea starch is a non-GMO, clean-label ingredient that provides several consumers with options that are gluten-free, allergen-free, low in calories, and low in fat.
Pea starch provides several unique advantages for the food industry, especially as an alternative to chemically modified starch. For example, it can be used to make pastes with high viscosity and more durable gels. The main factors driving growth in the worldwide pea starch market are the rising popularity of flexitarianism and veganism and the rising need for dietary supplements.
*Extensive Application with Functional Value Creates Tremendous Opportunities *
According to Straits Research, *"The global pea starch market size was valued at USD 118.75 million in 2021. It is projected to reach USD 246.43 billion by 2030, growing at a CAGR of 8.45% during the forecast period (2022-2030).”* There is a growing demand for pea starch due to its multifunctionality properties, including gelling, texturizing, binding, coating, thickening, and film-forming. This has helped manufacturers focus on pea starch and register many product launches in various end-user industries. Pea starch is used more frequently in processed foods, including functional items, due to consumers' increasing preference for low-carb and high-protein diets. According to a Roquette Frères survey, one-third of consumers in the European Union buy meals with sports nutrition to satisfy their daily energy needs. However, customers concerned about their health actively seek substitute sources of carbs in functional food products, such as active nutrition products with a low glycemic index.
*Regional Analysis *
European pea starch industry share is booming at a CAGR of 9.00% during the forecast period. The demand for low-calorie, nutrient-dense food has increased due to Spanish consumers' increased health consciousness, which has increased the usage of beneficial food ingredients like pea starch. The rising demand for vegan food that has been noticed in the nation is another factor affecting the use of pea starch in the country's food and beverage industry. For instance, Lidl's new own label, Next Level Meat, debuted a vegan burger in 2020. This business imitates the recipe employed by Spain's now-famous Beyond Meat brand and uses pea starch as a binder.
North America is anticipated to grow at a CAGR of 9.50%, generating USD 78.22 million during the forecast period. Food manufacturers are using pea starch in many food and beverage products. These products range from nutritional bars and breading to ready-to-drink beverages, powders, pasta, and batters. Pea-based ingredients are also rising in popularity among several end-user industries, such as sports nutrition and weight management, thanks to their clean-label claim and anti-allergic properties. One of the key factors driving the expansion of the pea starch market is the rising understanding of pea starch's flexibility and multifunctional features (low carb, low calorie, high amylose content, binding/thickening) in the formulation of human and animal food. The robust pea production base is yet another crucial element.
*Key Highlights*
· Based on the source, the market is classified into organic and conventional. The conventional segment owns the highest market share and is expected to grow at a CAGR of 7.95% during the forecast period.
· Based on the application, the market is bifurcated into food and beverage, animal feed and pet food, and clinical nutrition and cosmetics. The food and beverage segment is the highest contributor to the market and is expected to grow at a CAGR of 8.40% during the forecast period.
· Europe is the most significant shareholder in the global pea starch market and is expected to grow at a CAGR of 9.00% during the forecast period.
*Competitive Players*
The global pea starch market’s major key players are *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*.
*Market News*
· September 2022- AGT Food and Ingredients Inc. (AGT), one of the largest suppliers of value-added plant-based food products and ingredients derived from pulses, and Equinom announced an agreement to accelerate the development, validation, and commercialization of co-branded functional ingredients made from Equinom ultra-high protein yellow pea varieties. The companies will collaborate to develop a portfolio of minimally processed plant protein ingredients, optimized from the source crops themselves, to enhance the flavor, nutrition, accessibility, and carbon footprint of various foods and beverages. This partnership represents a significant commitment to building an efficient and sustainable supply chain for plant-based products for the food industry.
· August 2022- A leading global provider of specialty ingredient solutions to the food and beverage manufacturing sector, Ingredion Incorporated, released the findings of its most thorough environmental life cycle evaluation of stevia. The goal of the global study was to better understand the environmental performance of PureCircleTM by Ingredion's stevia portfolio and the sustainability of stevia compared to full-caloric options like cane sugar and beet sugar, and high fructose corn syrup throughout its product life cycle.
*Global Pea Starch Market: Segmentation*
*By Source*
· Organic
· Conventional
*By Applications*
· Food and Beverage
· Animal Feed and Pet Food
· Clinical Nutrition and Cosmetics
*By Regions*
· North America
· Europe
· Asia-Pacific
· LAMEA
*Get Detailed Market Segmentation @* *https://straitsresearch.com/report/pea-starch-market/segmentation*
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