The global pea starch market is projected to grow at a CAGR of 8.0%
NEW YORK, Nov. 1, 2018 /PRNewswire/ -- The global pea starch market is projected to grow at a CAGR of 8.0%.
The global pea starch market is estimated at USD 91.8 million in 2018 and is projected to reach USD 134.7 million by 2023, at a CAGR of 8.0% during the forecast period. Some of the major factors driving the market include integrated use of pea starch in ethanol production, growth in the demand for convenience food, and an increase in the production of peas. Increasing instances of retrogradation impact the functional properties of pea starch, which is a major factor inhibiting the growth of the market.
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The food & beverages segment, by application, is projected to grow at the highest CAGR during the forecast period.
Pea starch finds use in various food applications such as confectionery products, processed food, beverages, and others; the segment accounted for nearly half of the global pea starch market share.It is generally used in food products to provide consistency in terms of texture and stability.
In addition, it is a clean label substitute to modified starch such as corn and potatoes, which helps in expanding its utility in food products. Although pea starch is considered as a low-level substitute in the food & beverage industry over the years, its acceptance has increased in recent past, due to the growing demand for natural ingredients in products around the globe.
Pea starch as a gelling agent is dominating the market and also growing at the highest rate.
Pea starch is used to maintain the texture of food and to create texture in water-based products.It contains amylose, which acts as a gelling agent for various food products.
The use of the gelling agent enhances the impact of starch amylase hydrolysis.Hence, the gelling of starch is used in the food & beverage industry to provide digestible starch and to thicken or bind food products.
It is used in various confectionery products, which include candies, chew gum, and jelly beans. In addition, this starch is also used in feed, pet food, and other industrial applications.
North America is estimated to account for the largest market share in 2018, whereas Asia Pacific is projected to grow at the highest CAGR during the forecast period.
The market in North America is projected to account for the largest share during the forecast period.This is attributed to factors such as the increase in consumer demand for healthy processed food.
In addition, consumers in this region are calorie-conscious and prefer low-calorie and low-fat foods. Due to these factors, the demand for pea starch is projected to remain high in this region.
The market in the Asia Pacific is projected to grow at the highest CAGR during the forecast period. The rapid growth of the market in this region is mainly attributed to the increasing demand for pea starch in the food & beverage industry in China and India.
Break-up of Primaries:
• By Company Type: Tier 1: 43%, Tier 2: 41%, and Tier 3: 16%
• By Designation: C-level: 54%, D-level: 46%
• By Region: North America: 22%, Europe: 35%, Asia Pacific: 28%, and RoW*: 15%
Note: Tier 1, Tier 2, and Tier 3 companies are classified on the basis of their product portfolios and regional presence.
Tier 1: Revenue > USD 500 million; Tier 2: USD 100 million > Revenue > USD 500 million; Tier 3: Revenue < USD 100 million
*RoW includes South Africa, Middle East, and South America.
The key players in the pea starch market include the following:
The market for pea starch is dominated by key players such as Emsland Group (Germany), Roquette Freres (France), and Vestkorn Milling AS (Norway), Cosucra Groupe Warconing SA (Belgium), and Roquette Freres (France). The other players operating in the pea starch market include Meelunie B.V. (Netherlands), Parrish and Heimbeckar, Ltd. (Canada), Puris Foods (US), Yantai Oreintal Protein Tech Co., Ltd.(China), Axiom Foods, Inc. (US), The Scoular Company (US), Shandong Jianyuan Group (China), AGT Food and Ingredients (Canada), Felleskjøpet Rogaland Agder (US), Yantai Shuangta Food Co., Ltd. (China), and Dakota Dry Bean (US).
Research Coverage
The report provides an analysis of the pea starch market across different segments.It aims at estimating the market size and the future growth potential of this market on the basis of grade, application, function, and region.
The report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and business strategies.
Key Reasons to Buy the Report:
• To get an overview of the global pea starch market.
• From an insight perspective, this research report has focused on detailed analysis—industry and company profiles.
• This report also analyzes the high-growth segments of the global pea starch market—its high-growth regions, drivers, restraints, opportunities, and challenges.
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