The pea starch market is estimated to be valued at US$ 137.04 Mn in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Pea starch is extracted from yellow peas and has various applications in food and non-food industries. In the food industry, pea starch is used as a thickening and binding agent in products such as soups, sauces, gravies, processed meat and poultry. It is also used as a stabilizer and encapsulating agent in the pharmaceutical industry. The functional properties of pea starch such as texture, shine, stability and shelf-life make it suitable for use in various products.

Market Dynamics:
The pea starch market is primarily driven by its increasing demand from the food and beverage industry. Pea starch acts as a gluten-free alternative to wheat flour and corn starch in many food applications. This makes it suitable for consumers with gluten intolerance. Moreover, changing lifestyles and hectic schedules have boosted the demand for convenience and processed food products where pea starch plays a key role. Additionally, pea starch has high nutritional value as it contains dietary fibers, proteins and antioxidants. This makes it a preferred ingredient in health-based food and beverages. However, price volatility of peas may hamper the market growth during the forecast period. The expanding vegan food market also provides opportunities for pea starch makers.

SWOT Analysis

Strength: Pea starch is gluten-free and helps provide texture and nutrition to various food products. It is easily digestible and has good binding and emulsifying properties. Pea starch acts as an eco-friendly substitute for corn and potato starches.

Weakness: Pea starch production requires a large cultivation area for growing peas. Weather conditions and low yield of peas per acre can hamper the supply of pea starch. The processing of pea starch is complex and involves multiple steps of cleaning, grinding and separation which increases production costs.

Opportunity: Growing demand for plant-based and vegan food products is driving the use of pea starch as an alternative to dairy-based thickeners. The increasing health consciousness among consumers regarding low-carb and gluten-free diets presents an opportunity for pea starch producers.

Threats: Fluctuations in peas cultivation due to adverse weather conditions can threaten the stable supply of pea starch. Stringent food safety regulations surrounding the usage of GMO ingredients can restrict the growth of the pea starch market.

Key Takeaways:

The Global Pea Starch Market Size is expected to witness high growth, exhibiting CAGR of 8.1% over the forecast period, due to increasing demand for plant-based and gluten-free ingredients. Pea starch acts as a suitable substitute for wheat and corn starches in various food applications such as soups, sauces, baked goods, and pet food.

Regional analysis: Europe dominates the global pea starch market and is expected to continue its dominance over the forecast period. This is attributed to the large cultivation of peas and presence of major pea starch manufacturers in countries like France and Germany. Asia Pacific exhibits the fastest growth in demand for pea starch driven by growth in food processing industry in China, India and South East Asian countries.

Key players operating in the pea starch market are Groupe Emsland, Roquette Frères, The Scoular Company, COSUCRA - Groupe Warcoing, Ingredion Incorporated, Axiom Foods Inc., Yantai Shuangta Food Co. Ltd, Vestkorn Milling AS, Puris, Meelunie BV, AGT Food and Ingredients Inc., and Shandong Jianyuan Bioengineering Co. Ltd. The key players are focused on capacity expansion and new product.

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