The global pea starch concentrate market is expected to be valued at US$ 1247.5 million in 2023 and reach a valuation of US$ 1987.4 million by 2033. The demand for pea starch concentrate is estimated to grow at a steady 4.8% CAGR.
There has been a huge uptick in the use of pea starch in both the food and starch industries around the world. Pea starch is widely used for many reasons, including its key performance and functional benefits, which range from simple processing to firm gels. Without sacrificing the food’s color or flavor, pea starch satisfies consumers’ demands for foods with great texture and flavor that is made with clean labeling and recognizable ingredients.
During the forecast period, opportunities may arise for the global pea starch market due to rising demand from the pet food industry and ongoing developments in the food and beverage industries.
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Increasing pea starch demand is being fueled by consumers’ penchant for allergen-free fare
Clean-label alternatives to modified starches have been developed and received more attention as health-conscious consumers around the world demand healthier food options. Clean-label starches are in high demand around the world because of the growing consumer preference for natural, minimally processed, additive- and antibiotic-free foods. The introduction of processed food items with pea protein as an ingredient increased dramatically in response to the rising demand for such foods. Since the demand for pea protein has been met, the supply of pea-based products derived from fiber and starch has increased.
The global pea starch market is expanding rapidly due to the growing demand for plant-based food options, nutritional supplements, and flexible eating patterns. As more and more people learn about the health risks associated with eating meat and dairy, the trend towards vegetarianism and the power of social media is having a significant impact on the expansion of the market. The increased demand for pea starch is a result of the increased demand for foods with higher nutrient density. With more people being diagnosed with food allergies like lactose intolerance and intolerance to meat, people are looking for healthier alternatives.
Key Takeaways
- The demand for plant-based protein products is increasing globally, creating a growth opportunity for pea starch concentrate.
- Pea starch concentrate is a sustainable and eco-friendly alternative to other starches, such as corn and potato starch.
- The use of pea starch concentrate in pet food is on the rise as manufacturers seek to meet the growing demand for natural and healthy pet food products.
- Pea starch concentrate is finding applications in the cosmetics and personal care industry as a natural and sustainable ingredient.
- There is a trend towards sustainable packaging solutions, and pea starch concentrate is being explored as a potential sustainable packaging material.
- Pea starch concentrate is being increasingly used as a functional ingredient in a variety of food products, including bakery, confectionery, snacks, and meat products.
- The growing trend towards gluten-free and vegan foods is boosting the demand for pea starch concentrate.
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Competitive Landscape
The pea starch concentrate market is a fast-growing segment in the food and industrial ingredients industry, driven by its functional and nutritional properties. Pea starch concentrate is a versatile plant-based ingredient used in various applications, such as food, feed, and industrial uses. Its popularity stems from its unique properties, including its thickening, gelling, and binding abilities, as well as its nutritional benefits, such as being gluten-free, non-GMO, and allergen-free. As a result, it is increasingly being sought after as a natural and sustainable alternative to traditional ingredients.
Despite its growth potential, the pea starch concentrate market is relatively fragmented, with several small and medium-sized players operating in the market. However, there are a few dominant players that hold a significant share, including Roquette Freres, Emsland Group, Vestkorn Milling AS, Cosucra Groupe Warcoing SA, and Shandong Jianyuan Group. These companies have established themselves as key players in the market, leveraging their expertise and extensive distribution networks to stay ahead of the competition.
On the other hand, several emerging startups are entering the market with innovative products and technologies, leveraging advanced processing technologies and exploring new applications for pea starch concentrate to meet the growing demand for plant-based and clean-label ingredients. Notable startups in the pea starch concentrate market include PURIS, AGT Foods, Nutri-Pea, and Vestkorn, among others. These startups are disrupting the market with new and innovative products and technologies, making the pea starch concentrate market more dynamic and competitive.
Recent Developments
- Gillco Ingredients and COSUCRA Inc., the American arm of COSUCRA Groupe WarcoingS.A., signed a distribution pact in May of 2021. The NASTAR native pea starch, SWELITE pea cell-wall fiber, and PISANE Organic pea protein are just a few of the specialty ingredients made from peas that Gillco is expected to be distributed to its end customers in the United States.
- Delpharm Evereux and Roquette Frères teamed up in March 2021 to create a plant-based shell for a soft gel capsule. Vegetarian softgel made from hydroxypropyl pea starch, carrageenan, and other functional ingredients; formulated using Roquette’s LYCAGEL pea starch soft gel technology.
- In March of 2021, Ingredion expanded its offerings of plant-based ingredients with the introduction of VitessensePulse 1853 pea protein isolate and Purity P 1002 pea starch. Each component comes exclusively from farms in North America that practice sustainable agriculture. Native to the United States, Purity P 1002 pea starch is a versatile ingredient that can be used to create the perfect texture in a wide variety of plant-based cheese, gelatin-free candy, and gluten-free baked goods.
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Key Segments
Product Type:
- Yellow Peas
- Green Peas
Nature:
- Organic
- Conventional
End-Use:
- Sups & Sauces
- Confectionery
- Bakery
- Breakfast Cereals
- Ice-Cream & Desserts
- Pasta & Noodles
- Snacks & Savory
- Processed Meat Products
- Animal Feed
- Pet Food
- Pharmaceuticals
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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