A recent report published by Infinium Global Research on the pea starch market provides in-depth analysis of segments and sub-segments in the global as well as regional pea starch market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional pea starch market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global pea starch market. According to the report, the global pea starch market is projected to reach USD 295 million by 2027 from USD 176 million in 2021, growing at a CAGR of 9% over the forecast period of 2021-2027.
Pea starch is non-GMO and nonallergic starch made from yellow peas. It is processed from pe flour which is a basic ingredient obtained from pea. The various products of pea starch in the market involve inhabitant pea starch and customized pea starch. These products (native & modified) are used by different manufacturers for various usages. Rising health awareness of the benefits of plant-based products, rising demand for organic products in different applications, increased demand for plant-based products in the personal care industry, and rise in demand for gluten-free products are boosting the growth of the market. However, changing prices of raw materials, presence of irritants in pea, adverse climatic effects on the cultivation of pea plant, availability of substitute products, lack of consciousness about nutritional benefits of pea starch, and increased production cost restraints the growth of the pea starch market.
Pea starch is utilized within the textile industry for cloth sizing. Due to the straightforward de-sizing and various properties, starches from the adhesive composition are also customized in step with the need during the tactic of size mix. The starches are less expensive as compared with other competitors, like corn, wheat, and potato starch, and also possess relatively similar chemical properties to cotton and rayon. The worldwide textile industry has witnessed growth in recent years due to the abundant supply of raw materials like wool, cotton, jute, and silk. Pea starch is widely used for finishing or sizing the material after its woven, wrap sizing preparatory to weaving, and printing some styles of fabrics. It is also utilized for dry-cleaning in both home and commercial institutions. Thus, the rising usage of pea starch within the textile industry is projected to drive market growth. Hence, the decrease in the production of pea starch may be key restraint to the market. The fluctuations within the supply of material tend the manufacturers to vary to other substitutes of pea starch for identical functional benefits.
Europe held the largest market share. European countries like the United Kingdom, Germany, Italy, Russia, and France among others are the major contributor to the overall growth of the region. The stringent government regulations for labeling allergens such as gluten-free on food products, with a gluten-free diet, resulted in an increasing number of consumers seeking food and beverage products with gluten-free claims. Furthermore, the rising youth habitually indulging in sports and athletic activities has resulted in the increased utilization of dietary supplements products containing starch as an ingredient. To cater to the demand of customers, manufacturers are innovating products that can be exclusively used in sports nutrition. Asia Pacific Pea Starch Market is projected to grow at a high rate during the forecast. The Asia Pacific market encompasses a significant market share within the Global Pea Starch Market in terms of revenue and is ready to dominate the worldwide market. The increasing growth of the starch industry is subsequently leading to the growth of the market in the Asian region. This would essentially create an opportunity for pea starch manufacturers in the Asian Pacific region.
The report on the global pea starch market covers segments such as grade, application, source, and function. On the basis of grade, the sub-markets include food, feed, and industrial. On the basis of application, the sub-markets include food & beverages, industrial, pet food, and feed. On the basis of source, the sub-markets include organic, and inorganic. On the basis of function, the sub-markets include binding & thickening, gelling, texturizing, film forming, and others.
The report provides profiles of the companies in the market such as Axiom Foods Inc., Dakota Dry Bean, Nutri-Pea., Cargill Inc., Vestkorn, Roquette, Sanstar Bio-Polymers, Emsland Gourp, American Key Products, and Henraajh Feeds India Pvt. Ltd..
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the pea starch market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.