The global Pea Starch Market is poised for substantial growth, projected to reach $307.4 million by 2029, exhibiting a robust CAGR of 7.7% from 2022 to 2029. This surge is primarily attributed to the escalating demand for convenience and processed food products, a surge in food allergies, especially celiac disease, a rising preference for functional food items, and the expanding vegan population.
Market Drivers:
Growing Demand for Convenience and Processed Foods: The consumer shift towards convenience foods is a major driving force, spurring the demand for pea starch as a key ingredient.
Prevalence of Food Allergies: The increasing incidence of celiac disease and other food allergies has led to a surge in the adoption of alternative starches, such as pea starch, which is allergen-free and gluten-free.
Rising Demand for Functional Foods: The trend towards healthier lifestyles and the demand for functional food products are boosting the market for pea starch, known for its nutritional benefits.
Expanding Vegan Population: The growing number of individuals adopting a vegan lifestyle is contributing to the escalating demand for plant-based alternatives, including pea starch.
Market Challenges:
Availability of Alternative Starches: Despite the growth potential, the market faces challenges due to the availability of alternative starch sources, posing a notable hindrance to pea starch market expansion.
Decrease in Dry Pea Production: The reduction in the production of dry peas poses a challenge to the availability and affordability of pea starch.
Top 10 Companies Shaping the Pea Starch Market: https://meticulousblog.org/top-10-companies-in-pea-starch-market/
Axiom Foods Inc. (U.S.): A leader in processing agricultural raw materials, Axiom Foods offers a diverse range of products, leveraging a robust distribution network across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
- Dakota Dry Bean Inc. (U.S.): A subsidiary of Benson Hill Inc., Dakota Dry Bean specializes in plant-based products, offering a wide array of options in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
- American Key Products, Inc. (U.S.): A key player in producing flour and starches, the company's clean-label native pea starch caters to the pet food and non-GMO snack industries primarily in North America.
- Roquette Frères (France): Operating across seven business segments, Roquette Frères provides native pea starch for various applications, boasting a global presence with 25 operating plants and subsidiaries.
- Vestkorn Milling AS (Norway): A part of DSM N.V., Vestkorn Milling offers gluten-free, non-GMO, and sustainable pea starch, catering to North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
- Ingredion Incorporated (U.S.): Operating in five segments, Ingredion provides starches derived from potatoes, tapioca, pea, and rice for diverse industries, with a global presence.
- NutriPea LP (Canada): Focused on sustainable and locally sourced functional food ingredients, NutriPea LP produces pea starch derived from Canadian yellow peas, serving global markets.
- Emsland Group (Germany): Manufacturing plant-based ingredients for various industries, Emsland Group operates globally with a diverse product portfolio.
- Aminola B.V. (Netherlands): Specializing in plant-based ingredients, Aminola offers carbohydrates, pregelatinized carbohydrates, and proteins for food, feed, and industrial applications.
- Ebro Foods, S.A. (Spain): Operating through various segments, Ebro Foods provides pea starch through subsidiaries, serving diverse industries globally.
Top 10 Companies Shaping the Pea Starch Market: https://meticulousblog.org/top-10-companies-in-pea-starch-market/
Market Insight:
Meticulous Research's latest report on the Pea Starch Market predicts a growth rate of 7.7% during the forecast period 2022-2029. For a comprehensive analysis of each company, including recent financial performance, key products, company strategies, partnerships, and acquisitions, refer to Meticulous Research®’s detailed report, “Pea Starch Market – Global Opportunity Analysis and Industry Forecast (2022-2029).”
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