New York, United States , May 25, 2023 (GLOBE NEWSWIRE) -- The Global Pea Starch Market Size is to grow from USD 149 Million in 2022 to USD 277 Million by 2032, at a Compound Annual Growth Rate (CAGR) of 6.4% over the study period.
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Pea starch is a carbohydrate obtained from yellow peas that is commonly used in bakeries, confectionery, snacks, and beverages as a thickener, stabilizer, and gelling agent. The global pea starch market is expected to expand in the coming years, driven by rising demand for plant-based foods, increased awareness of the health benefits of pea starch consumption, and rising demand for gluten-free and clean-label food products. The market is highly competitive, with several key players operating in it, and significant investments in research and development activities are expected to bring innovative products to market.
As healthy eating becomes more popular, consumer demand for gluten-free, vegan-friendly, and non-GMO products is increasing. All of these requirements are met by pea starch, which is an excellent dietary additive. The significant increase in global demand for convenience food is expected to drive the market's expansion. Pea starch is increasingly being used in pet food and animal feed due to its health benefits. However, dry peas are the primary raw material for pea starch. Pea starch prices may fluctuate if production declines along a curve. Manufacturers may switch to other pea starch alternatives for identical functional advantages as raw material prices fluctuate. As a result, a drop-in pea production is a significant constraint on the pea starch market.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on "Global Pea Starch Market Size, Share, and COVID-19 Impact Analysis, By Source (Organic and Inorganic), By Function (Gelling, Binding & thickening, Texturizing, Fil forming, and Others), By Application (Industrial, Food & Beverages, Pet Food, and Feed), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:
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The organic segment is expected to hold the largest share of the global pea starch market during the forecast period.
The global pea starch market is classified as organic or inorganic, depending on the source. The organic segment is projected to account for the majority of the global pea starch market during the forecast period. The rise is due to an increase in demand for organic pea starch as consumers' health consciousness grows. Furthermore, demand for organic pea starch is projected to grow as consumers become more willing to pay higher prices for organic food products associated with health and nutrition.
The gelling segment is expected to grow at the fastest rate in the global pea starch market over the projected period.
The global pea starch market is classified into gelling, binding & thickening, texturizing, fil forming, and others based on function. The gelling segment is projected to grow the fastest in the global pea starch market over the forecast period. The increasing use of gelling agents in confectionery items can be attributed to the growth.
The food & beverages segment is expected to hold the largest share of the global pea starch market during the forecast period.
The global pea starch market is divided into four applications: industrial, food & beverages, pet food, and feed. The food and beverages segment is expected to have the largest share of the worldwide pea starch market throughout the forecast period. Due to the growing demand for healthy and natural ingredients in the food industry, the food & beverages segment dominates the pea starch market.
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Europe is estimated to hold the largest share of the global pea starch market over the predicted timeframe.
Europe is anticipated to hold the largest share of the global pea starch market during the forecast period. The rising trend of veganism and vegetarianism, as well as the growing demand for plant-based proteins, are driving demand for pea starch in the region. Europe leads the global pea starch market due to the high demand for gluten-free and non-GMO ingredients in the food sector. During the forecast period, North America is expected to grow at the fastest rate in the global pea starch market. The growing demand for natural and healthy food ingredients is driving the North American market for pea starch. The region is seeing an increase in demand for clean-label and non-GMO food products, which is driving up demand for pea starch.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Pea Starch Market include Roquette Freres, Yantai Shuangta Food Co., Ltd., Axiom Foods, Organicway, The Scoular Company, P&H Milling, Inc., NutriPea, Vestkorn, Dakota Dry Bean, Ingredion Incorporated, Puris Foods, Emsland Group, AGT Food & Ingredients, COSUCRA, and Others.
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Recent Developments
In October 2022, Roquette has introduced organic pea starch to the organic food and beverage market. These ingredients are produced at the company's plant in Canada by organic pea growers from the country. The new product will assist customers in selecting a clean-label organic product that will improve the nutritional value of the product.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Pea Starch Market based on the below-mentioned segments:
Global Pea Starch Market, By Source
- Organic
- Inorganic
Global Pea Starch Market, By Function
- Gelling
- Binding & thickening
- Texturizing
- Fil forming
- Others
Global Pea Starch Market, By Application
- Industrial
- Food & Beverages
- Pet Food
- Feed
Global Pea Starch Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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