According to a report published by Allied Market Research, the pea starch market size is registered to reach $544.7 billion with a considerable CAGR from 2019 to 2026. Currently, North America and Europe are dominating the market with huge market shares. This is due to the expansion of pea manufacturers, rise in utilization in industrial applications, supportive industrial & economic policies into these regions.
Suchita Gupta
Allied Market Research
Pea starches are carbohydrates extracted from yellow peas that are widely used for several applications in the food and feed industry. Not only this but also, they are heavily used as an alternative to fossil fuel in numerous chemical applications such as detergents, cosmetics & pharmaceuticals, owing to their biodegradable and renewable nature. It also possesses relatively similar properties to cotton and rayon, thereby, is very popular for its usage in the textile industry.
Moreover, pea starches are rich in amylose, which is why they possess excellent thickening and gelling properties. They also serve high-temperature stability, acid stability, low water binding, low solubility, good expansion regulating, good texture regulating, quick gel building, etc. in many food products such as dairy products, bakery products, confectionery products, snacks, soups, sauces, meat, seafood and so on.
In the baking industry, pea starch is referred as the key ingredient as it is responsible for the structure and properties of the final product. In the confectionery industry, granular form of starch is used as a molding powder for several varieties of sweets. American key food products now offer native pea starches with all these properties. Also, food manufacturers and consumers consider pea starch as a clean label ingredient. This is why pea starch has been accepted as an effective alternative to gelatin and other modified starches.
In addition, pea starches are used for manufacturing personal care and cosmetic products. The properties like skin smoothening, skin lightening etc. obtained from pea starch make it an ideal component for products like serums, creams, lotions and others.
According to a report published by Allied Market Research, the pea starch market size is registered to reach $544.7 billion with a considerable CAGR from 2019 to 2026. Currently, North America and Europe are dominating the market with huge market shares. This is due to the expansion of pea manufacturers, rise in utilization in industrial applications, supportive industrial & economic policies into these regions.
Unfortunately, the outbreak of the COVID-19 pandemic led to the implementation of lockdown which gave way to a temporary closure of production and manufacturing facilities of almost all industries. During the initial period of the pandemic, the global supply chains were disrupted and the manufacturers faced a lot of challenges to transport the raw materials. This resulted in to increase in the prices of raw materials and severe economic fallout for marketers.
However, the restrictions imposed during the pandemic have shifted the mindset of business enterprises towards e-commerce platforms. Amazon, Walmart, and other e-commerce websites have supported the global supply chain of pea starch products to a great extent, which sequentially has enhanced the demand for pea starch.
Furthermore, in the past few years, a significant change in consumer’s consumption patterns has been observed across different regions. Consumers are becoming aware of the health benefits that come from using natural or plant-based ingredients, which in turn, is boosting the demand for pea starch even more.
At the same time, the demand for gluten-free & lactose-free food products and demand for organic & natural skincare & haircare products are contributing to the growth of the market. The key market players are developing new products with improved taste and benefits, along with high marketing approaches, which is again, augmenting the growth of the global pea starch market.
For instance, in 2020, a US-based company named PURIS, has launched a new pea starch for making sports nutrition and gummy preparation. Also, Cargill, a prime food cooperation, recently did an additional huge investment in this largest North American producer of pea starch, which is expected to help PURIS expand its production facilities and meet the demand for pea starches in more than one way.
Similarly, a France-based company named Roquette has launched a new pea starch technology for producing vegetarian soft gel capsule. With this drift on board, the global pea starch market is anticipated to gather huge prospects and exponential growth in the near future.