The global pea starch market size is projected to grow from USD 136 million in 2020 to USD 192 million by 2025, recording a compound annual growth rate (CAGR) of 7.0% during the forecast period. Pea starch is a cost-effective, clean label ingredient with high amylose content and numerous health benefits, due to which it is projected to witness significant growth in the global food industry. The increasing demand for clean label, high quality, gluten-free food products across regions is a major factor projected to drive the growth of the pea starch market. In addition, the increasing demand for convenience products and high-quality clean label feed and pet food products in various regions across the world are the key factors that are projected to drive the market growth.
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Some of the key players present in the pea starch market include Emsland Group (Germany), Ingredion Incorporated (US), Cosucra Groupe Warconing (Belgium), and Roquette Frères (France), Axiom Foods (US), and Yantai Shuangta Food (China). New product launches and expansions are some of the dominant strategies that are adopted by prominent players to strengthen their presence in the pea starch market. These strategies have helped companies to expand their product offerings for pea starch and are projected to drive market growth.
Asia Pacific is projected to account for the fastest growth in the market during the forecast period.
The Asia Pacific region is projected to be the fastest-growing market during the forecast period. Pea starch helps provide clean labels for processed food product manufacturers, such as baked goods and meat products, owing to its organic origins. With the increase in consumption of processed food, the demand for pea starch is expected to grow, as it is also used as a thickening agent in numerous agri-food applications, such as delicatessen, sauces, creams, meats, and pasta.
The food segment is projected to account for the largest share in the pea starch market, followed by the feed segment during the forecast period.
Pea starch provides a gluten-free, allergen-free, low-calorie, low-fat solution to food manufacturers. It also helps in enhancing the texture, consistency, and quality of food products. Moreover, the trends of clean label and gluten-free products are increasing. These trends are projected to favor the growth of pea starch market.
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The inorganic segment is projected to account for a larger share in the pea starch market during the forecast period.
The inorganic segment is projected to dominate the market during the forecast period due to its low cost, easy processing, which are appealing for manufacturers of paper, textile, and biotechnological applications. They are also of the same quality as organic pea starch. However, the substitution by organic pea starch in food applications, owing to the increasing consumer awareness about the health benefits of organic products, may hinder the growth of the segment in the upcoming years as consumers are becoming increasingly health-conscious.