Pea Starch Market Regional Developments and Industry Size

COVID-19 Impact on the global pea starch Market

COVID-19 had a huge impact on the food supply chain in all regions, including North America, Europe, Asia-Pacific, South America, and the rest of the world. Due to the spread of COVID-19, there has been a growing number of death cases and long-term health impacts. This has resulted in the government imposing severe lockdown regulations, impacting all aspects of the economy. Governments around the world have developed policies for responding to the various impacts caused by COVID-19 for avoiding supply chain disruptions, higher raw material prices, and severe economic fallout for employees. Europe and Asia Pacific are some of the major regions that are significantly impacted by the COVID-19 scenario. This is because of the huge number of cases recorded in the regions, especially in the countries such as Spain, Italy, France, Germany in Europe and Japan, China, and South Korea in Asia Pacific. Companies in different countries are coming up with innovative technologies that are friendly to the environment and protect the pea starch end user products from any kind of contamination with germs.

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The market for pea starch is estimated at USD 143 million in 2021; it is projected to grow at a CAGR of 7.2% to reach USD 203 million by 2026. Growth in the demand for pea starch in the end-user application industries is driving the market growth of pea starch. Further, increase in the demand for gluten-free products is also a major factor resulting to the rise in the demand for pea starch.

Pea starch Market Dynamics

Driver: Growth in the demand for pea starch in different end-user industries

Pea starch is widely used in the textile industry for textile sizing and cotton yarns. Due to the easy de-sizing and various properties, starches from the adhesive component can be customized according to the requirement during the process of size mix. Furthermore, pea starches are cost-effective in comparison with other alternatives, such as corn, wheat, and potato starch, and also possess relatively similar chemical properties to cotton and rayon. The global textile industry has witnessed growth in recent years due to the abundant supply of raw materials such as wool, cotton, jute, and silk. Pea starch is widely used for finishing or sizing the cloth after it is woven, wrap sizing preparatory to weaving, and printing some types of fabrics. It is also used in higher quantities for laundering in both home and commercial institutions. Thus, the increase in the usage of pea starch in the textile industry is projected to drive the market growth.

Pea starch acts as a potential food ingredient with 30%–60% dry weight. Pea starches contain a higher percentage of amylose in comparison with other starches. It has numerous beneficial properties, such as high resistance to shear-thinning and high gelatinization temperature, high elasticity of gel, and fast retrogradation. Food products, such as gluten-free noodles sausages and meat products, need high elasticity of gel and fast retrogradation. Furthermore, for extruded snacks and canned foods, the resistance of starch pastes to shear thinning at high temperatures is important. Pea starch is an efficient raw material for improving the consistency and texture of food products.

Opportunity: Rise in the demand from the pet food industry

The pet food market is driven by two primary trends globally. These trends are premiumization and humanization. There is a growing trend of pet humanization as a “family member” among owners. Due to this, there is a rise in demand for premium pet food with nutritional benefits, better digestibility, and improved ingredient quality for pets. Considering this changing human tendency, the major players, such as Ingredion (US), are including pea starch as an ingredient in their products. Pea starch is a source of carbohydrates in pet food. It contains thickening and gelling properties, which enhance the palatability and quality of the kibble. Pea starch offers lactose-free, gluten-free, and allergen-free solutions while also working as an effective binder in pet food products. With the increase in consumption of pet food products, the demand for pea starch as an important ingredient is projected to grow in the coming years.

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Asia Pacific is projected to dominate the majority market share, in the pea starch market, in terms of value, in 2021

On the basis of region, the global pea starch market is segmented into North America, Europe, Asia Pacific, South America, and Rest of the World (including Africa and the Middle East). The Asia Pacific market is projected to be the largest and fastest-growing market for pea starch and majorly witnesses increased consumption of noodles and vermicelli in the region, as it helps in enhancing the texture of food products. In the North American and European regions, the consumption of convenience foods, dairy products, bakery products, and meat products has increased, which has driven the demand for pea starch among food manufacturers. According to the United States Department of Agriculture (USDA), the demand for convenience food products has increased among consumers, due to the low prices of convenience food products over the years and less preparation time for food products.

This report includes a study on the marketing and development strategies, along with a survey of the product portfolios of the leading companies operating in the pea starch market. It includes the profiles of leading companies, such as Yantai Shuangta Food Co., Ltd. (China), AGT Food and Ingredients (Canada), Emsland Group (Germany), Cosucra Groupe Warcoing SA (Belgium), Roquette Frères (France), Ingredion Incorporated (US), and Axiom Foods Inc. (US).

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Created on Jan 19th 2022 04:34. Viewed 99 times.

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