Pea Starch Market Sales to Soar at 13.1% CAGR Amid Growing Demand for Gluten-free Ingredients Globally | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
An In-depth market Insight of the Pea Starch Market including Organic, and Conventional Covering 30+ Countries like United States, United Kingdom, Germany, France, Norway, Sweden, Saudi Arabia, United Arab Emirates, Japan, Korea, Australia, New Zealand, and Others.
NEWARK, Del, July 28, 2024 (GLOBE NEWSWIRE) -- The global pea starch market value is slated to total USD 130 million in 2024 and USD 241 million. The global sales of pea starch are estimated to surge at a CAGR of around 13.1% during the assessment period.
Several factors are stimulating the growth of the pea starch market. These include rising demand for gluten-free ingredients, growing health and wellness trends, increasing interest in plant-based foods.
Pea starch’s popularity has a basis in peas’ public presence. The ingredient has been trusted for ages, whether it be their protein or flakes, and this trust is translating into the pea starch industry.
The pea starch industry is slated to progress rapidly through 2034. Pea starch’s status as a gluten-free ingredient is winning it a plethora of supporters. In addition to the already gluten intolerant people, many other people are embracing gluten-free diets.
A large contributor to this shift of people is the fitness and gym culture propagating throughout the world. Celebrity fads are also contributing to many consumers turning gluten-free. The status of the product as a non-GMO ingredient is also helping it become more of a common entity in food formulation.
Sales of Pea starch are also climbing in popularity as an ingredient in weight loss products. The inclination of fitness enthusiasts is for organic ingredients, and, thus the starch is being used more in weight loss regimes.
The promotion of starch as an alternative is also supposed to add significant value to the market. Pea starch is replacing potato and demand for tapioca starch in numerous food formulations. Similarly, high adoption of pea starch in bakery products will likely boost sales growth
Moreover, in the past few years, a huge consumer base around the globe has been suffering from several food allergies. Thus the demand for allergen-free food is increasing as a result demand for allergen-free food ingredients such as pea starch is also gaining traction
Key Takeaways from the Pea Starch Market
The pea starch market is expected to be USD 130 million in size in 2024.
Based on nature, conventional is expected to account for 81.5% of the market share in 2024.
By end use, the bakery products segment is anticipated to account for a share of 24.4% in 2024.
The United States is set to register a CAGR of 6.6% from 2024 to 2034.
Germany and the United Kingdom are predicted to record CAGRs of 5.6% and 4.3% respectively.
“Manufacturers in the pea starch market are relying on technology to get ahead in the market. The streamlining of production processes is a common strategy among industry players.,”– says Nandini Roy Choudhury, Client Partner at Future Market Insights
High Starch Content in Pea is Triggering Overall Pea Starch Market
The high amount of starch in peas is a major driving factor behind the worldwide pea starch market's expansion. In addition, the global food and beverage industry's increased health consciousness, as well as changes in flavour, quality, and taste, are all contributing to growth.
The global pea starch market has recently found applications in food processing, baking and pharmaceutical products, prompting end-product manufacturers to use larger amounts of pea starch, a trend driven by the popularity of sustainable and nutrition-rich foods without sacrificing convenience, which will contribute to the pea starch market's growth.
Furthermore, due to a growing population of gluten-sensitive, health-conscious people, the gluten-free pea starch trend is doing well, resulting in the rapid growth of gluten-free pea starch in a variety of bakery products. Pea starch also performs well in baked items in terms of structure and texture, making it a popular alternative to starch derived from traditional sources like maize, tapioca and potato.
Pea starch is an excellent extender ingredient for meat products including sliced turkey, sausages, chicken nuggets, beef burgers and chicken breasts because of its gel-like qualities.
Who is Winning?
The pea starch market is highly competitive, with players of all scales looking to establish themselves in the landscape. Top companies in the market are competing with smaller brands to establish themselves in the marketplace.
Industry Updates
In April 2024, French company Roquette launched the LYCAGEL Flex hydroxypropyl pea starch premix for pharmaceutical and nutraceutical softgel capsules. The new product launch is aimed to help the company expand its expertise and customer base as well as meet growing demand from several industries.
In May 2024, Canadian company BioNeutra Global Corporation started a collaboration with Protein Industries Canada. The collaboration also includes other parties, while the aim of it is to innovate in pea starch to make it more suitable as a food ingredient.
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global pea starch market presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights based on nature (organic and conventional), grade (feed grade, food grade, and industrial grade), application (thickening and binding, gelling, texturizing, and others), and end use (soups and sauces, snacks and savory, bakery products, food processing industry, cosmetics, pharmaceuticals, and pet food industry) across several regions.
Key Segments of Market Report
By Nature:
Based on its nature, the pea starch market is bifurcated into organic and conventional.
By Grade:
In terms of grade, the pea industry is categorized into feed grade, food grade, and industrial grade.
By Application:
Key product applications include thickening and binding, gelling, texturizing, and others.
By End Use:
When it comes to end use, the industry is segmented into soups and sauces, snacks and savory, bakery products, food processing industry, cosmetics, pharmaceuticals, and pet food industry.
By Region:
Analysis has been carried out in key countries of North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East and Africa.
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions, post-merger integration, and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
