Pea Starch Market worth $211 million by 2027 - Exclusive Report by MarketsandMarketstm

CHICAGO, Jan. 31, 2023 /PRNewswire/ -- The Pea Starch Market is projected to reach USD 211 million by 2027 and 156 million by 2022, growing at a CAGR of 6.2% from 2022 to 2027.

The pea starch market is growing at a significant pace with new product launches and distribution agreements to expand the market. In April 2022, Puris Foods partnered with Upcycled Food Association (UFA), an organization committed to combating food waste and loss to certify its Non-GMO and Organic Native Pea Starches. In September 2019, Axiom Foods entered into an agreement with Brenntag Food and Nutrition (Germany) to distribute plant-based products such as rice proteins, pea proteins, and pea starch in Europe, the Middle East, and Africa. The growing investments by the pea starch manufacturers are proliferating the market growth.

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Consumer awareness about nutritional benefits offered by pea and pea-based products

Green peas contain a considerable amount of healthy minerals that benefit cardiovascular operations, such as magnesium, potassium, and calcium. Yellow peas suppress high fiber that helps in digestion. Dry yellow peas are rich in lysine, iron, and carbohydrates. This enables them to be an alternative to other legumes, such as wheat, and rice. The consumption of pea and pea-based products is increasing due to various nutritional richness of vitamins C and E, zinc, and other antioxidants that strengthen the immune system. Pea starch acts as a potential food ingredient with 30%?60% dry weight. Pea starches contain a higher percentage of amylose in comparison with other starches. It has numerous beneficial properties, such as high resistance to shear-thinning and high gelatinization temperature, high elasticity of gel, and fast retrogradation. Pea starch is an efficient raw material for improving the consistency and texture of food products. Pea starch acts as an excellent alternative in these food products due to its gelling and binding properties imparted by the presence of high amylose content, which is not present in other starches, such as potatoes, corn, and wheat. Due to the benefits of starches in canned foods and extruded snacks, the demand for pea starch will increase in the coming years.

Growing vegan population and the popularity of plant-based food products

There has been a global change in the diet preferences of consumers. The consumers now prefer non-meat and non-animal origin products, including milk or even milk-based products, thereby leading to a growth in demand for pea-oriented ingredients, such as pea protein and pea starch. Key factors that have led to this shift include health conditions, such as lactose intolerance, meat allergies, and the increase in meat allergies, and increased health consciousness among consumers. These conditions have encouraged consumers to choose plant-based protein and starch with non-allergen ingredients. The use of plant-based proteins has become a trend, with the UN report dated August 2019 backing the claim that plant-based diets can benefit humans to combat climatic changes. It estimates that a quarter of global emissions come from food products, constituting over 26%, including more than half of the emissions from animal products (58%), particularly from beef and lamb. According to the World population review, in 2019, the UK had the highest population of vegans, followed by Australia, Israel, New Zealand, Switzerland, Austria & Germany, and Sweden.

Threat of substitute starches

Pea starch has numerous substitutes in the market, such as potato starch, corn starch, cassava starch, and others. These starches also come under the category of resistant starch. They help in resisting digestion in the gut. This results in numerous health benefits, such as improved absorption of nutrients, which acts as a prebiotic for supporting gut health. This helps in increasing metabolism with improving weight loss. Due to these numerous benefits, the pea starch market could face challenges in the coming years. Furthermore, cassava starch is witnessing high demand due to its easy availability and numerous applications in the food and non-food industries, such as adhesive, pharmaceutical, paper, and textile. Cassava is a good source of resistant starch, which helps manage blood sugar levels and gut health. It also contains vitamin C, a crucial component that can improve immune function and collagen production. The rise in demand for cassava starch can be a major challenge for the pea starch market.

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Asia Pacific held the largest market share in the pea starch market in 2021

Asia Pacific has a huge demand for pea starch from countries such as China, India, Japan, and other Southeast Asian countries. The production of pea starch becomes more economical in these countries due to the availability of ample resources and manpower. Food and beverage are the major application segment where pea starch is being used. Food manufacturers are increasingly using pea starch as a substitute for regular starches owing to their cost-effectiveness to minimize the cost of final products. This also comes up with the presence of price-sensitive consumers across the region. Additionally, the people across the countries in these regions are witnessing changing lifestyles such as growing urban and working populations leading to a shift towards convenience food thereby accelerating the use of pea starch in the market.

Key players in this market include Emsland Group (Germany), Ingredion Incorporated (US), Roquette Freres (France), Vestkorn (Norway), Axiom Foods (US), COSUCRA (Belgium), AGT Food & Ingredients (Canada), Puris Foods (US), NutriPea (Canada), and Organicway (China), among others.

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