Pea Starch Market on the Path of Growth, Estimated to Reach $400 Million by 2026
MarkWide Research’s latest report titled “Pea Starch Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023-2026” reveals steady growth prospects for the global pea starch market. The market is anticipated to reach a valuation of $195 million by 2026, exhibiting a steady CAGR of 6.2% during the forecast period.
The report highlights the factors driving the growth of the pea starch market. One of the key drivers is the increasing demand for clean-label, plant-based ingredients in various food and beverage applications. Pea starch is gaining popularity as a versatile ingredient due to its functional properties, including thickening, gelling, and stabilizing capabilities.
The shift towards healthier eating habits and dietary preferences is driving the demand for pea starch, as it aligns with consumer demand for natural and sustainable ingredients. The market is further propelled by the rising trend of gluten-free and allergen-free diets, where pea starch serves as a suitable alternative to traditional starches.
The market is segmented based on type, application, and region. On the basis of type, the report covers native pea starch and modified pea starch. Native pea starch is anticipated to hold a significant market share due to its natural and unmodified properties, making it a preferred choice for clean-label products.
In terms of application, the report covers segments including food and beverages, pet food, industrial, and others. The food and beverages segment is projected to dominate the market share, driven by the incorporation of pea starch in a wide range of products, including bakery goods, dairy products, and snacks.
Geographically, the report covers regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Europe is expected to lead the pea starch market due to the region’s strong emphasis on clean-label ingredients, sustainable practices, and the presence of major food and beverage manufacturers.
The competitive landscape of the global pea starch market features both established players and emerging entrants. Leading companies profiled in the report include Roquette Frères S.A., Emsland Group, Cosucra Groupe Warcoing SA, and Ingredion Incorporated, among others. These players are focusing on expanding their pea processing capabilities, product innovation, and market collaborations to cater to the growing demand.
In conclusion, the global pea starch market is poised for steady growth as the food and beverage industry seeks natural, functional, and sustainable ingredients. The report by MarkWide Research provides valuable insights into market trends, growth drivers, challenges, and opportunities for industry stakeholders and investors.