The global pea starch market value is slated to total USD 130 million in 2024 and USD 241 million. Global sales of pea starch are estimated to surge at a CAGR of around 13.1% during the assessment period.
Several factors are stimulating growth of the pea starch market. These include rising demand for gluten-free ingredients, growing health and wellness trends, increasing interest in plant-based foods.
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Pea starch’s popularity has a basis in peas’ public presence. The ingredient has been trusted for ages, whether it be their protein or flakes, and this trust is translating into the pea starch industry.
The pea starch industry is slated to progress rapidly through 2034. Pea starch’s status as a gluten-free ingredient is winning it a plethora of supporters. In addition to the already gluten intolerant people, many other people are embracing gluten-free diets.
A large contributor to this shift of people is the fitness and gym culture propagating throughout the world. Celebrity fads are also contributing to many consumers turning gluten-free. The status of the product as a non-GMO ingredient is also helping it become more of a common entity in food formulation.
Pea starch is also climbing in popularity as an ingredient in weight loss products. The inclination of fitness enthusiasts is for organic ingredients, and, thus the starch is being used more in weight loss regimes.
The promotion of starch as an alternative is also supposed to add significant value to the market. Pea starch is replacing potato and tapioca starch in numerous food formulations. Similarly, high adoption of pea starch in bakery products will likely boost sales growth
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Key Takeaways from the Pea Starch Market
- The pea starch market is expected to be USD 130 million in size in 2024.
- Based on nature, conventional is expected to account for 81.5% of the market share in 2024.
- By end use, bakery products segment is anticipated to account for a share of 24.4% in 2024.
- The United States is set to register a CAGR of 6.6% from 2024 to 2034.
- Germany and the United Kingdom are predicted to record CAGRs of 5.6% and 4.3% respectively.
“Manufacturers in the pea starch market are relying on technology to get ahead in the market. The streamlining of production processes is a common strategy among industry players.,” says a lead analyst at Future Market Insights (FMI).
Who is Winning?
The pea starch market is highly competitive, with players of all scales looking to establish themselves in the landscape. Top companies in the market are competing with smaller brands to establish themselves in the marketplace. Some of the prominent companies in the market include Axiom Foods Inc., Dakota Dry Bean, Parrheim Foods, and Cargill Inc.
Recent Developments in the Pea Starch Market
- In May 2024, an alliance was struck between BioNeutra Global Corporation, Protein Industries Canada, and others to innovate in pea starch for food formulation.
Want More Insights?
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global pea starch market presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights based on nature (organic and conventional), grade (feed grade, food grade, and industrial grade), application (thickening and binding, gelling, texturizing, and others), and end use (soups and sauces, snacks and savory, bakery products, food processing industry, cosmetics, pharmaceuticals, and pet food industry) across several regions.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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