Pea Starch Market: Exploring Growth Trends and Emerging Opportunities 2030
The global pea starch market is experiencing unprecedented growth, driven by the increasing consumer demand for natural and plant-based ingredients. The rise in focus on allergen-reduced products and the surging popularity of gluten-free items have emerged as significant catalysts propelling this market forward.
Clean Label Ingredient in High Demand
Food manufacturers are increasingly turning to pea starch as a clean label ingredient, making it an effective alternative to other modified starches. This versatile ingredient is finding applications in bakeries, confectionery products, soups, sauces, and more. Known for its excellent binding and thickening properties, pea starch is also gaining traction as an alternative to gelatin, further expanding its range of uses.
Sustainable and Biodegradable Bioplastic
Recent studies have unveiled pea starch’s potential as an excellent bioplastic, positioning it as a renewable and biodegradable material. These sustainability attributes, combined with its versatility, are expected to drive the demand for pea starch in the coming years.
Impressive Growth Trends
According to research conducted by Fairfield, the market for pea starch and pea fiber products has witnessed remarkable growth, with a compound annual growth rate of 33% for pea fiber and 29% for pea starch since 2012. Notably, between 2013 and 2017, a staggering total of 2,310 pea starch or pea fiber products were launched globally.
Europe has emerged as the largest contributor to the market, with 1,521 new product launches, while the United States saw 339 new products during the past five years. Notable product categories incorporating pea starch or pea fiber in the U.S. include dry dog food (71), wet dog food (39), and dog snacks and treats (38).
COVID-19 Boosts Demand
The relentless spread of COVID-19 disrupted global supply chains, prompting food manufacturers to seek affordable raw materials. This development has significantly fueled the demand for conventional pea starch due to its cost-effectiveness.
Asia Pacific Takes Center Stage
The Asia Pacific region is projected to register the highest Compound Annual Growth Rate (CAGR) during the forecast period. Leading importers like China and Japan are driving the demand for pea starch, attracting manufacturers to explore opportunities in this region. Euro Technologies Company, for example, expanded its production facility in Russia with plans to enter the Chinese market.
Innovation for Competitive Edge
Major players in the pea starch market, including Roquette Freres, Emsland Group, Cosucra Group, and Axiom Foods Inc., are focusing on innovation to maintain their competitive edge. With an eye on sustainability and versatility, these companies are at the forefront of meeting the evolving demands of the global market.
The demand for pea starch is clearly on the rise, with its applications spanning diverse sectors, from food and beverages to bioplastics. As consumers increasingly seek natural, allergen-free, and sustainable ingredients, pea starch is positioned as a star player in the global market.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/pea-starch-market
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This press release first seen on Brilad