Growth in demand for pea starch from various end-use industries drives market
by Mit K. SEOPea starch
is a by-product of pea protein extraction and a rich source of amylose. It is
mainly available as a by-product of protein extraction; therefore, it is
considered to be a relatively inexpensive source of starch as compared to corn,
wheat, and potato starches. Nativepea
starchis extracted from yellowpeas.
Peastarchis a non-GMO,
clean label ingredient providing gluten-free, allergen-free, low-calorie,
low-fat solutions.
MarketsandMarkets
projects that the pea
starch market is projected to grow from USD136million in 2020 to USD192million
by 2025, recording a compound annual growth rate (CAGR) of 7.0% during the
forecast period.The rise inconsumption of clean label convenience, feed, and
pet food products across regions and the increase in demand for gluten-free
food productsare the key factors that are projected to drive the growth of the pea
starch market. However, the decrease in the production of dry peas, resulting
in fluctuation of raw material for the production of pea starch, is a major
factorinhibiting the market growth.
The demand
for clean label, high-quality pet food products among the pet owners globally
is rising. The increasing pet humanization trend around the world is resulting
in the growing demand of high-quality, nutritional food for pets among pet
owners. This is projected to create growth opportunities for players in the pea
starch market.
The
organicsegment is projected to grow at a faster rate during the forecast period
due to the increase in health-conscious consumers and the rise in awareness
about the health benefits of organic products among consumers, which is further
projected to encourage food manufacturing companies to use organicpea starch in
their products.
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The food& beverages segment is projected to dominate the pea
starch market during the forecast period. The demand for pea starch in convenience
food products and an increase in the inclination of consumers toward gluten-free
productsis projected to drive the usage of pea starch in food products as a
gluten-free solution and to enhance the texture and quality of food products.
In terms ofgeographical coverage, the pea starchmarketis segmented into fiveregions, namely, North America, Europe, Asia Pacific,South America,and Rest of the World (RoW). Asia Pacific is projected to dominate the marketduring the forecast period, as Asia is among the largest pea processing regions in the world.The demand for natural ingredients and clean-label food is increasing considerably in this region. Also, the level of investment in the food & beverage industry in Asia and the Pacific regions has increased over the past quarter-century, especially in China, contributing to its rapid economic growth.
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Created on Jun 22nd 2020 08:26. Viewed 287 times.