Pea Starch Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Relentless search for new, promising sources of plant protein has unlocked new starches in the market, pea starch being one of them. Pea starch is characteristically different from others, the reason having to do with its high amylose content. Endowed with good thickening and gelling properties, pea starch is extensively used in food products as a thickening and gelling ingredient. It displays gelatinization temperature of approximately 70°C. Other characteristics that drive their popularity among food producers are that they are hypoallergenic, non-GMO, and gluten-free, and have neutral taste. Further, food producers are utilizing the marked stability under high temperature and film-forming property of pea starch. Key demand for pea starch are in meat products, confectionary and bakery products, soups and sauces, and dairy. Sizable demands in food industry, pea starch are gathering popularity as a feed ingredient.
Over the years, numerous food ingredient producers are leaning on improving the nutritional profile of pea starch so that it can be used as a fiber in calorie control and digestive health.
Global Pea Starch Market: Growth Dynamics
Various brands are expanding their range of pea starch for the food industry, underpinning the growth in the pea starch market. They are focusing on meeting a wide cross-section of demands for lactose-free and gluten-free starch for food producers. Apart from their use in gelling and thickening, pea starch also has a role in improving the texture of food products to which they are applied. Over the years, growing consumptions of convenience food has spurred the uptake of pea starch among food producers in numerous developing economies.
Growing use of pea starch in high temperature cooking due to their outstanding stability has been significant in expanding the prospects of the pea starch market. Strides made by the feed industry have also indirectly stirred demands for pea starch. The demand is rising on the back of growing popularity of grain-free pet food applications.
The market is also witnessing impetus from the growth in pea production in various parts of the world. Growing use of pea starch in numerous other applications has boosted revenue generation. A case in point is the rising application in ethanol production. Growing consumption of pea starch in several industries other than food has also cemented the potential of the pea starch market.
A big, compelling drive for pea starch production has come from their use in clean labelling of products - a trend that is fast gathering steam among millennial.
The pea starch market has seen a lucrative avenue in the growing popularity of plant-based protein in numerous regions. A case in point is Canadian farmers pinning hopes on pea to meet the growing demands for plant-based protein. Growers are trying to utilize the attractive characteristics of pea starch and expand the potential of pea as a sustainable plant-based protein product. Overall, North America is still not very lucrative market for pea starch as the applications are expanding at relatively lackluster pace. However, pea producers in Canada are optimistic. The wave of optimism has also to do with substantial government initiatives in the country. Recent instance is the launch of Protein Supercluster in 2019.
Over the past few years, investments in pea production has also swelled substantially in developed regions of the world. Companies are eyeing the rising worldwide potential of plant-based protein. This is also a promising trend for cementing the growth potential of the pea starch market over the past few years.
Some of the player who are aiming at consolidating their shares in the pea starch market are Vestkorn Milling AS, Parrheim Foods, Cargill Inc., Sanstar Bio-Polymers, Roquette Frères, and Emsland Group.
On the regional front, Asia Pacific is emerging at a rapid pace. The flurry of opportunities is supported by widespread use application of pea starch in food and beverages application. In numerous economies of the region, confectionery products, convenience foods, and soups manufacturers are seeing vast potential for utilization of the characteristics of pea starch. Other promising markets are Europe and North America.
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Latest Trends and Cardinal Growth Prospects
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Existing and Future Insights in Growth
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Ascensions in Technology
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The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
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