Portland, OR, March 30, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global pea starch market generated $292.9 million in 2018, and is estimated to reach $544.7 million by 2026, witnessing a CAGR of 8.3% from 2019 to 2026. The report offers extensive analysis of changing market trends, key segments, competitive scenario, top investment pockets, and regional landscape.
Inclination toward clean label food products, demand from industrial applications, and implementation in convenience food fuel the growth of the global pea starch market. However, retrogradation effects on foods due to starch restrain the market growth. Contrarily, surge in demand for organic pea starch and modified starch from developing nations presents new opportunities in the next few years.
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Covid-19 Scenario:
- The pea starch demand reduced significantly during the lockdown in many countries. In addition, the demand lowered from the end-user industries such as food & beverages, skincare & hair care product manufacturing, and others due to entire or partial closedown.
- Expansion strategies of manufacturers have been hindered and they have to postpone the plans of expansion due to economic turbulence and locking of funds by investors.
The report offers detailed segmentation of the global pea starch market based on type, application, and region.
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By type, the conventional segment held nearly 88% of the total share of the market in 2019, and is projected to maintain dominance in terms of revenue during the forecast period. However, the organic/non-GMO segment is projected to witness the largest CAGR of 9.7% from 2019 to 2026.
By application, the food and beverages segment accounted for the largest share in 2019, contributing to more than three-fifths of the global pea starch market, and is projected to maintain its leadership status during the forecast period. Moreover, this segment is estimated to portray the highest CAGR of 8.3% during the forecast period. The research also discusses segments including feed and others.
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By region, North America contributed to the largest share in terms of revenue, holding more than two-fifths of the total share in 2019, and is projected to continue its lead position during the forecast period. However, Asia-Pacific is expected to portray the fastest CAGR of 10.5% from 2019 to 2026.
Leading players of the global pea starch market analyzed in the research include Agridient, Cosucra Groupe Warconing SA, American Key Food Products, Meelunie B.V., Emsland Group, Roquette Frères, Puris Foods, the Scoular Company, Shanghai Bichain Industrial Chemical, and Vestkorn Milling AS.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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