31 October 2019
Visiongain has launched a new Consumer Goods Report Pea starch Market Report 2019-2029 Forecasts by Nature (Organic, Conventional), by Grade (Food, Feed, Industrial), by Application (Food & Beverages, Industrial, Pet Food, Others), By Function (Binding & Thickening, Gelling, Film Forming, Texturing, Others) PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis.
The global Pea starch market is expected to grow at a lucrative rate during the forecast period. Some of the key factors driving the market include the increasing demand of healthy and nutritious food, growing vegan and vegetarian population, high starch yield, and growing application of pea and other vegetable starches in food and textile industry. However, the concerns associated with high operational cost may pose as market restraints. The pea starch market can be segmented based on nature, grade, application, function, and region.
Pea starch functions as a carbohydrate store and has great use in food & beverages industry, cosmetics & beauty industry, and pharmaceutical industry. Furthermore, dried peas are also used as sources of protein and starch and have several functional properties. Pea starch is an excellent option for vegetarian and vegan population, as pea starch is considered as gluten free and non-GMO. The high nutritional value coupled with low-calorie formulation of pea starch is propelling the growing uptake of pea starch by health-conscious consumers. The aforementioned factors are resulting in the significant growth of the global pea starch market over the forecast period. Furthermore, a large consumer base of vegan and vegetarian population and emerging application of these pea starches are also anticipated to propel market growth.
By application, food & beverages segment is anticipated to contribute the largest share of revenue. The large size of the segment can be attributed to high use of pea starch in food preparations, especially in Asian countries. Moreover, the growing consumer awareness regarding the nutrition contents of pea starch is also expected to drive the growth. With the growing demand for starch products, starches derived from pea and other vegetables are increasingly being used as they are not absorbed by the body, thereby aid in controlling the glycemic index of food products. In addition, pea starches are widely being used in the food industry, owing to its clean label profile. The aforementioned factors are thereby boosting the global pea starch market growth. Furthermore, technological advancements have resulted in innovations such as pea starch as an alternative to plastic. For instance, pea starch is now being utilized to prepare bio plastic films which can be used for food packaging and wound dressing. This offers tremendous opportunity for pea starch manufacturers to launch novel products. By region, Asia Pacific led the market in 2018 and is expected to continue to dominate during the forecast period. Factors such as a large population, high consumption of starch products in Asian countries, rising disposable income, and changed dietary preferences among consumers are contributing to the large share of the region.
The global Pea starch market is highly competitive with many players entering the market in order to cater to the growing consumer demand. Some of the players such as Cargill, Inc., Axiom Foods, Inc., Puris Foods, Vestkorn Milling AS, and Roquette Freres are currently dominating the market. These major companies are increasingly focusing on research and development activities so as to gain competitive advantage. Some of the other companies operating in the market include Emsland Group, Meelunie B.V., The Scoular Company, AGT Food and Ingredients, and Cosucra Groupe Warconing SA. These companies are taking various strategic initiatives such as mergers, acquisitions, and partnerships so as to increase their presence in the global market.
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