Global Pea Starch Market Size, Share, Growth Analysis, By Type(Feed, Food), By Function(Binding & Thickening, Gelling) - Industry Forecast 2024-2031

Report ID: SQMIG30I2271 | Region: Global | Published Date: March, 2024
Pages: 198 | Tables: 65 | Figures: 75

Global Pea Starch Market Insights

Global Pea Starch Market size was valued at USD 70.78 Billion in 2022 and is poised to grow from USD 74.89 Billion in 2023 to USD 117.57 Billion by 2031, at a CAGR of 5.8% during the forecast period (2024-2031).

The purpose of the pea starch market is to meet the growing demand for plant-based and natural ingredients in various industries. Pea starch serves as an alternative to traditional starches derived from corn, wheat, and potatoes. Several factors drive the growth of the pea starch market. The increasing consumer preference for clean label and plant-based products fuels the demand for pea starch as a natural ingredient. The pea starch market faces several challenges. One significant challenge is the competition from other plant-based starches, such as tapioca starch and potato starch, which are widely available and established in the market. The pea starch market presents several opportunities for growth. The rising demand for gluten-free and allergen-free products opens avenues for the application of pea starch in the food industry. The increasing consumer awareness of sustainable and eco-friendly ingredients creates opportunities for pea starch as a renewable and plant-based alternative. The global pea starch market caters to the demand for plant-based and natural ingredients across various industries. With driving factors like consumer preferences for clean label products and the nutritional benefits of peas, the market shows promise. However, challenges such as raw material availability and competition from other starches need to be addressed. By seizing opportunities in gluten-free and sustainable product trends, and investing in research and development, market players can capitalize on the growing demand for pea starch and drive its market growth.

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The global pea starch market is highly competitive, with several key players vying for market share. These companies are actively engaged in strategic initiatives such as mergers and acquisitions, collaborations, product launches, and expansions to strengthen their market position. Additionally, they focus on research and development activities to enhance their product offerings and cater to the evolving consumer demands. companies have extensive distribution networks and a wide range of product portfolios to serve various industries, including food and beverages, pharmaceuticals, cosmetics, and others. They strive to maintain quality standards, ensure a sustainable supply chain, and meet regulatory requirements to gain a competitive edge. 'Roquette Frères (France)', 'Ingredion Incorporated (US)', 'Emsland Group (Germany)', 'Cosucra Groupe Warcoing (Belgium)', 'Meelunie B.V. (Netherlands)', 'PURIS (US)', 'Vestkorn Milling AS (Norway)', 'AGT Food and Ingredients (Canada)', 'Parrheim Foods (Canada)', 'Dakota Dry Bean (US)', 'Yantai Shuangta Food Co., Ltd. (China)', 'Sanstar Bio-Polymers Ltd. (India)', 'Shandong Jianyuan Group (China)', 'COSUN Beet Company (Netherlands)', 'Prairie Fava (Canada)', 'American Key Food Products (US)', 'Tereos Group (France)', 'Inner Mongolia Qiaqia Food Co., Ltd. (China)', 'Yunnan GreenLand Biotech Co., Ltd. (China)', 'Archer Daniels Midland Company (US)'

The rising awareness among consumers regarding the health and wellness benefits of natural and clean label products drove the demand for pea starch as a plant-based ingredient in various food and beverage products.

Innovation in Product Development: Companies in the pea starch market focused on product innovation to cater to the evolving consumer demands. This included developing modified pea starches with improved functionalities, such as enhanced stability, better texture, and increased solubility, to meet the specific requirements of various applications.

Asia Pacific emerged as a significant player in the global pea starch market and is poised to witness the fastest growth rate during the forecast period. The region's substantial market share can be attributed to the rising demand for convenience foods, including confectionery, sauces, and soups. The increased utilization of pea starch in processed food manufacturing, coupled with a large consumer base and a growing preference for native starches, are the primary drivers propelling the market's growth in this region.

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Global Pea Starch Market Size, Share, Growth Analysis, By Type(Feed, Food), By Function(Binding & Thickening, Gelling) - Industry Forecast 2024-2031

Global Pea Starch Market Insights

Global Pea Starch Market Report Snapshots

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