Pea starch is widely used as a texturizing and binding agent in numerous processed foods such as soups, sauces, gravies, and gluten-free products. It helps improve texture, mouthfeel, stabilization and water-holding capacity in various food applications. Pea starch is gaining popularity as a substitute for corn and potato starches due to the nutritive advantages of peas such as high protein content and fibre.

The global Pea Starch Market is estimated to be valued at Us$ 137.04 Mn in 2023 and is expected to exhibit a CAGR Of 21% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The opportunity in texturizing and binding applications is expected to drive significant growth of the pea starch market over the forecast period. Pea starch performs exceptionally well as a texturizing and binding agent and helps manufacturers develop new product formulations. The growth of gluten-free products industry worldwide has further increased the demand for pea starch as an ideal alternative to wheat starch. Pea starch aids in texture development, moisture retention and shelf-life extension of gluten-free baked goods and pasta. It is also used to produce thickening sauces and soups without any allergic reactions. The excellent texturizing properties along with considerable health benefits of pea starch are thus augmenting its use in various food applications.

Porter's Analysis

Threat of new entrants: The threat of new entrants in the pea starch market is moderate. Establishing a manufacturing plant requires high capital investment and certifications which create entry barriers. Additionally, established pea starch manufacturers already have strong distribution networks and brand recognition.

Bargaining power of buyers: The bargaining power of buyers in the pea starch market is high. Buyers have many substitutes available like corn, potato and tapioca starch. They can negotiate on price and demand value-added services.

Bargaining power of suppliers: The bargaining power of suppliers is moderate. Suppliers of raw materials like peas have moderate switching costs involved. However, established suppliers have the advantage of economies of scale.

Threat of new substitutes: The threat of substitutes is high. Alternatives like corn, potato and tapioca starch are easily available. Buyers can switch between substitutes based on price fluctuations.

Competitive rivalry: The competitive rivalry in the pea starch market is high. The market is fragmented with local and global players. Companies compete on pricing, quality, production capacity and innovative applications.

SWOT Analysis

Strengths: High nutrition value, gluten-free properties, versatility in various applications.
Weaknesses: Seasonal availability of raw material, high processing costs, instability in supply.

Opportunities: Increasing demand for plant-based and organic products, innovative product developments, untapped emerging markets.

Threats: Price fluctuations in raw materials, stringent regulations on GMO crops, potential trade barriers.

Key Takeaways

The Global Pea Starch Market Demand  is expected to witness high growth during the forecast period of 2023-2030 driven by increasing health consciousness.

Regional analysis:

North America dominates the pea starch market currently owing to rising vegan and flexitarian population. However, Asia Pacific is expected to grow at the fastest pace during the forecast period supported by growing food processing industry in countries like India and China.

Key players:

Key players operating in the pea starch market are Roquette Frères, Meelunie B.V., Emsland Group, Cosucra Groupe Warcoing SA, Yantai Shuangta Food Co., Ltd. and Axiom Foods Inc. Major players are focusing on new product launches, expansion into untapped markets and strategic partnerships.

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