Global Pea Starch Market Size, Share, Growth Analysis, By Type(Feed, Food), By Function(Binding & Thickening, Gelling) - Industry Forecast 2023-2030

Global Pea Starch Market size was valued at USD 70.78 Billion in 2022 and is poised to grow from USD 74.89 Billion in 2023 to USD 117.57 Billion by 2031, at a CAGR of 5.80% during the forecast period (2024-2031).

The pea starch market aims to satisfy the increasing need for plant-based and natural components across diverse sectors. Pea starch offers an alternative to conventional starches derived from sources like corn, wheat, and potatoes. Several factors propel the expansion of this market, including heightened consumer interest in clean label and plant-based items, which drives the demand for pea starch as a natural ingredient. However, the market encounters challenges, notably competition from established plant-based starches like tapioca and potato starch. Nonetheless, opportunities for growth abound, particularly in responding to the rising demand for gluten-free and allergen-free products and leveraging pea starch as a renewable and eco-friendly option. Despite challenges such as raw material availability and stiff competition, the pea starch market shows promise, especially with strategic initiatives focusing on gluten-free and sustainable product trends, alongside investments in research and development to meet growing demands.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Pea Starch Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.

Global Pea Starch Market Segmental Analysis

The global pea starch market is segmented on the basis of type, function, and region. Based on type, the market is segmented into feed, food, and industrial. In terms of function, the market is segmented into binding & thickening, gelling, texturizing, film forming, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Pea Starch Market

Increasing consumer awareness about the health and wellness advantages of natural and clean label items led to a surge in demand for pea starch as a plant-based ingredient in a wide range of food and beverage products.

The growing occurrence of gluten intolerance and celiac disease resulted in heightened demand for gluten-free ingredients, such as pea starch. Its gluten-free characteristics and functional properties rendered it an appealing option for manufacturers seeking to create gluten-free products.

Restraints in the Global Pea Starch Market

Price variations in raw materials like peas may present difficulties for the pea starch market. Significant shifts in raw material costs can influence the pricing and profitability of pea starch products as a whole.

Although pea starch is gaining traction, its restricted awareness and availability in certain areas could impede market expansion. Limited consumer and manufacturer knowledge regarding the advantages and uses of pea starch might hinder its adoption in the market.

Market Trends of the Global Pea Starch Market

Product development innovation was a key focus for companies operating in the pea starch market, aiming to meet changing consumer needs. This involved creating modified pea starches with enhanced functionalities, including improved stability, texture, and solubility, tailored to meet the diverse demands of various applications.

There was an increasing focus within the industry on sustainable sourcing and production practices. Companies implemented measures to responsibly source peas, streamline processing methods, and minimize environmental impact across the supply chain. These sustainability efforts were in line with the growing consumer preference for eco-friendly products.