The global pea starch market size is projected to grow from USD 136 million in 2020 to USD 192 million by 2025, recording a compound annual growth rate (CAGR) of 7.0% during the forecast period. The rise in consumption of clean label convenience, feed, and pet food products across regions is projected to drive the growth of the market. The growing demand for gluten-free food products is the key factor that is projected to drive the growth of the market.
On the basis of source, the organic segment is projected to be the faster-growing during the forecast period.
By source, the organic segment is projected to be the faster-growing segment. The changing preferences and rising awareness about the overall health of individuals have led to an increase in the number of people opting for organic products over the inorganic ones. The trend of using clean label products will further encourage the use of organic pea starch in the pea starch market.
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The food segment, on the basis of grade, is projected to dominate the market during the forecast period.
Pea starch is widely used in the food industry. They are used for improving the quality, texture, and consistency of food products. The gluten-free property of pea starch is projected to drive the growth of this segment during the forecast period.
On the basis of function, the binding & thickening segment is projected to hold the largest market share during the forecast period.
On the basis of function, the binding & thickening segment is projected to account for the largest market share due to the excellent binding & thickening property and high amylose content of pea starch. Pea starch helps in enhancing the texture, consistency, and quality of products. The increased demand for convenience food products and better-quality feed products is projected to contribute to the growth of this segment.
Asia Pacific is projected to account for the fastest growth in the market during the forecast period.
The Asia Pacific region is projected to be the fastest-growing market during the forecast period. Pea starch helps provide clean labels for processed food product manufacturers, such as baked goods and meat products, owing to its organic origins. With the increase in consumption of processed food, the demand for pea starch is expected to grow, as it is also used as a thickening agent in numerous agri-food applications, such as delicatessen, sauces, creams, meats, and pasta.
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Key players in the global pea starch market include Emsland Group (Germany), Ingredion Incorporated (US), Cosucra Groupe Warconing (Belgium), Roquette Frères (France), Axiom Foods (US), and Yantai Shuangta Food (China). These players have broad industry coverage and high operational and financial strength.
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