(MENAFN - GetNews) Pea Starch Market Research Report by Grade (Food, Feed and Industrial), Application (Industrial, Food & Beverages, Pet Food and others), Function (Film Forming, Binding & Thickening, Gelling, Texturizing and others) and Region (North America, Europe, Asia Pacific, Middle East and Africa) – Forecast to 2023
Pea Starch Market is marked to expand remarkably at a CAGR of 11.3% during the forecast period of 2018-2023 and reach the valuation of USD 165.2 Mn by the end of the forecast period form USD 86.5 Mn in 2017. High starch content of about 40% makes peas a rich source of natural starch. Increasing demand for processed food due to changing lifestyle and rise in trend of gluten-free diet are inducing high demand for pea starch in the global market, resulting in the significant expansion of the global pea starch market.
The low-calorie formulation and high nutritional value pea starch make it an excellent additive for the diet conscious population. Hence, rise in popularity of the concept of dieting in order to maintain a healthy lifestyle is fuelling the expansion of the global pea starch market. However, allergic reaction caused by peas are likely to act as restraining factor on the expansion of teh global pea starch market during the forecast period.
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Major Key Players
The key players operating in the Global Pea Starch Market are
- Parrish and Heimbecker, ltd.,
- Cosucra Groupe Warconing SA,
- Yantai Oriental Protein Tech co., ltd.,
- The Scoular Company, Inc.,
- AGT Food and Ingredients,
- Felleskjøpet Rogaland Agder,
- Vestkorn Milling AS,
- Shandong Jianyuan Group,
- Meelunie B.V.,
- Axiom Foods,
- Emsland Group,
- Roquette Freres,
- Puris Foods,
- Dakota Dry Bean
- Qingdao CBH Co., Ltd.
The players in the global pea starch market are aiming towards the expansion of their businesses through strategic mergers and acquisitions, which are also aiding them for sustaining the competitive environment of the global pea starch market.
Pea Starch Market has been segmented based on Grade, Application and Function. Based on grade, the global pea starch market has been segmented into food, feed and industrial. Among these, the food segment commands the major share in the global pea starch market owing to the high demand for this product in the food and beverages industry. The industrial segment is forecasted to be the fastest growing segment in the global pea starch market owing to the increasing demand for pea starch in various end-use industries.
Based on application, the global pea starch market has been segmented into food and beverages, industrial, pet food and others. Among these, the food and beverages segment commands the major share in the global pea starch market owing to the high demand for pea starch for preparation of various food products. The industrial application segment is forecasted to be the fastest growing segment in the global pea starch market. Based on function, the global pea starch market has been segmented into binding and texturing, gelling, film forming, texturizing and others. Among these, the binding and thickening segment is dominating the global pea starch market. Whereas, the gelling segment is anticipated to be the fastest growing segment in the global pea starch market during the forecast period.
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Geographically, the Global Pea Starch Market has been segmented into four major regions such as North America, Europe, Asia Pacific and the Middle East and Africa. The Asia Pacific region is marked to expand significantly in the global pea starch market owing to the high consumption of pea starch for the preparation of noodles and vermicelli. Rapid expansion of food and beverages industry in this region is also aiding the growth of the pea starch market in the Asia Pacific region. High demand for pea starch as animal feed and increased consumption of processed food as a result of changing lifestyle are propelling the growth of the pea starch market in the North America region. The pea starch market in the Europe region is projecting noteworthy expansion owing to the rise in demand for processed food and increasing utilization of pea starch in various end-use industries multiple purposes in this region.
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