The global pea starch market was valued at USD 118.75 million in 2021 and is projected to reach USD 246.43 million by 2030, growing at a robust CAGR of 8.45% during the forecast period (2022-2030). The market is driven by increasing demand for clean label products and the growing adoption of pea starch in a variety of industries such as food and beverages, pharmaceuticals, and cosmetics.
Market Definition: Pea starch is a natural carbohydrate extracted from peas, primarily used as a thickener, stabilizer, and gelling agent. It is increasingly used in food products like soups, sauces, and processed snacks due to its clean label nature. Additionally, pea starch is employed in the pharmaceutical industry for tablet formulations, as a binding agent, and in the cosmetics industry for its gentle properties.
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Market Highlights:
- The global pea starch market is expected to experience substantial growth, with a projected value of USD 246.43 million by 2030.
- The growing popularity of plant-based ingredients is driving demand for pea starch as a natural, gluten-free alternative.
- The increasing use of pea starch in clean label food products is further boosting market growth.
- The rise in demand for healthier and organic food choices is contributing to the growing interest in pea starch.
- Asia-Pacific is the dominant region in the global pea starch market, with Europe emerging as the fastest-growing region.
- The pharmaceutical industry’s increased focus on natural and sustainable ingredients is expected to propel the use of pea starch.
Frequently Asked Questions (FAQs)
What is the current size of the global pea starch market?
- The global pea starch market was valued at USD 118.75 million in 2021.
What is the projected market size for pea starch by 2030?
- The pea starch market is projected to reach USD 246.43 million by 2030, growing at a CAGR of 8.45%.
What factors are driving the growth of the pea starch market?
- The demand for clean label products, the rising adoption of plant-based ingredients, and the increasing use of pea starch in the food, pharmaceutical, and cosmetic industries are key growth drivers.
Which regions dominate the pea starch market?
- The Asia-Pacific region dominates the pea starch market, while Europe is expected to be the fastest-growing region.
What industries are driving the demand for pea starch?
- The food and beverages, pharmaceutical, and cosmetics industries are the major sectors driving the demand for pea starch.
Market Segmentation: To understand the market in more detail, the report provides a breakdown based on the following segmentation:
- By Application:
- Food and Beverages
- Pharmaceuticals
- Cosmetics and Personal Care
- Industrial Uses
- By Source:
- Yellow Peas
- Green Peas
- By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
For a detailed segmentation analysis, visit: https://straitsresearch.com/report/pea-starch-market/segmentation
Key Players in the Pea Starch Market: The pea starch market is highly competitive, with several key players dominating the landscape. The following companies are some of the major contributors in the pea starch market:
- Roquette Frères
- The Green Labs LLC
- Cosucra Groupe Warcoing SA
- Ingredion Incorporated
- Cargill, Incorporated
- Tereos SA
- Emsland Group
- Pea Protein Inc.
- Farmers Cooperative Company
- Zhangjiagang Hengyi Chemical Co., Ltd.
Dominated Region: Asia-Pacific The Asia-Pacific region is currently the dominant player in the global pea starch market. The region’s large population, growing industrialization, and increasing demand for plant-based ingredients and clean label products contribute to its dominance. Moreover, the rise in health-conscious consumers and the growth of the processed food sector are expected to continue to drive demand for pea starch in the region.
Fastest Growing Region: Europe Europe is expected to be the fastest-growing region in the pea starch market. With a growing emphasis on plant-based ingredients and sustainable food solutions, Europe is witnessing a surge in demand for pea starch, especially in the food and beverage industry. The increasing trend toward organic food products and clean label initiatives is also fueling market growth.
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As the global demand for clean, sustainable, and plant-based ingredients continues to rise, the pea starch market is poised for remarkable growth in the coming years. Straits Research’s comprehensive report on the pea starch market provides in-depth insights into the market’s size, share, trends, and future projections, enabling businesses and investors to make informed decisions in this expanding industry.