Market Research Report
Global Pea Starch Market Forecast 2019-2028
|Global Pea Starch Market Forecast 2019-2028|
Published: September 20, 2020
Content info: 122 Pages
Delivery time: 2-3 business days
The global pea starch market is projected to register a CAGR of 8.16% during the forecast period, 2019-2028. The factors estimated to propel the market growth are the rising consumer preference for clean label food products, the growing adoption of convenience food, increasing demand for modified starch from emerging countries, and high demand for pea starch in industrial applications.
Pea starch is available as a by-product of protein extraction. It is a relatively cheap source of starch in comparison to wheat, corn, and potato starches. It is used in dairy, coating, confectionery, bakery products, pasta & noodles, soups & sauces, poultry, meat, etc. There is a continuous preference for healthy, fresh, and appetizing food products, among consumers. The demands for convenience food have gone up due to changing eating habits, rising disposable income, and rapid urbanization. Such factors have resulted in increased consumption of on-the-go meals, which are majorly plant-based. The demand also entails improved taste experience with sustainable and quality diets. As a result, there has been a noticeable shift from unhealthy products to healthy food products. All these factors are projected to have a positive influence in terms of demand in the global market. Starch retrogradation leads to undesirable effects on starch-rich foods, which is a challenge for food processors. This can prove to be a setback for market growth.
The global pea starch market growth analysis, with regard to geography, includes the evaluation of Europe, North America, Asia Pacific, and the rest of the world. North America dominated the global market in 2019. The countries in the region have been engaged in the manufacturing of protein concentrated from pea by air classification techniques. Such factors contribute to its market growth aspects.
The low supply-demand gap and a large number of market players have led to a highly competitive environment in the market. American Key Products Inc, Meelunie B.V., Cosucra - Groupe Warcoing SA, Emsland Group, Agridient Inc, etc. are some of the major players in the market.