Pea Starch Market Analysis: $544.7 Million By 2026, Growing At 8.3% CAGR - Organic Segment On The Rise

pea starch market

WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, July 30, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,“Pea Starch Market by Type and Application: globalOpportunity Analysis and industry Forecast, 2019–2026,” the global pea starch market was valued at $292.9 million in 2018, and is projected to reach $544.7 million by 2026, registering a CAGR of 8.3% from 2019 to 2026.

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The pea starch market possesses high growth potential, owing to increase in demand for pea starch in food & beverages industry. Furthermore, the pea starch market growth is driven by surge in global population and rise in per capita, thus increasing the production of pea starch. Change in taste and preference for healthy food of consumers positively affected the sales. In response to the dietary concerns of consumers, manufacturers are developing specialty differentiated products with pea starch. Numerous players are entering the market with innovative food product offerings, using peas as their base. Thus, emerging innovative food items are expected to increase the market competition in the years to come. Furthermore, upsurge in population in the developing countries, such as China and India, has increased the demand for pea starches and pea proteins to cater to increasing food requirements.

With consumers growing inclination toward organic food products and natural personal care products, the demand for organic and clean label ingredients is consequently gaining traction. Pea starch derived from non-GMO/organic peas delivers safe and sustainable part for clean label bars, baked goods, and beverages. This enables manufacturers to meet the organic food demand and aids in expansion of the market for organic pea starch. Thus, shift in consumer preference toward the adoption of organic pea starch is projected to offer remunerative opportunity for the expansion of the market during the forecast period.

The global pea starch market is segmented into type, application, and region. Depending on type, the market is bifurcated into organic/non-GMO and conventional. The applications covered in the study include food & beverages, feed, and others. Region wise, the market for pea starch is analyzed across North America, Europe, Asia-Pacific and LAMEA.

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On the basis of type, according to the pea starch market forecast the conventional segment was valued at $259.9 million, and is expected to growt with a CAGR of 8.1% to reach $544.7 million by 2026. The organic segment is expected to grow at a fastest CAGR of 9.7% during the forecast period, attributed to increase in demand of consumers for different types of pea starches made by organic methods.

Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa.). Countries such as Australia, the U.S., the UK, NORDIC countries, India, China, and ASEAN countries are the largest spenders on pea starch. In addition, factors such as easy product availability, high per capita expenditure, and increase in consumer purchasing power significantly contribute toward the growth of market.

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Key Findings of the Study

Depending on type, the conventional segment accounted for the highest share in 2018, growing at a CAGR of 9.7%.

By application, the food & beverages segment accounted for about 62.3% of the pea starch market share in 2018. However, the others segment is expected to grow fastest at a CAGR of 8.6% during the forecast period.

Region wise, North America accounted for about 42.1% of the market by share and is expected to grow at a CAGR of 7.3%. However, the Asia-Pacific region is anticipated to grow at the highest CAGR of 10.5% during the forecast period.

Leading Market Players

. Agridient

. American Key Food Products

. Cosucra Groupe Warconing SA

. Emsland Group

. Meelunie B.V.

. Puris Foods

. Roquette Frères

. Shanghai Bichain Industrial Chemical

. The Scoular Company

. 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.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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