Pea Starch Market Size Worth $150.7 Million By 2028 | CAGR: 7.2%: Polaris Market Research

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Jun 07, 2021, 08:30 ET

NEW YORK, June 7, 2021 /PRNewswire/ -- The global pea starch market size is expected to reach USD 150.7 million by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR: 7.2% From 2021 – 2028. The growing adoption of pea starch in ethanol production is one of the key factors that drive market growth. In addition to this, increasing application of the ingredient in different end-use industries propels its demand. The rising use of this substance for pet food preparation, especially in developed countries, fosters market growth. Moreover, the growing spending capacity of consumers due to increasing disposable income will eventually contribute to the market growth.

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Key Highlights of Pea Starch Market

Based on product, the organic pea starch segment is holding a dominant position in the market, owing to growing consumer preference for it as a result of rising consumer concerns about the negative impact on human health due to chemicals, hormones, pesticides, and other modified products.
In terms of application, the gelling segment contributed to the higher revenue share and is anticipated to add more share during the forecast period. The segment's growth is attributed to its increasing usage in the making of syrups, puddings, and desserts.
Based on end-use, food and beverage is the leading industry where pea starch finds a wide range of applications, owing to its properties and various benefits. The huge demand for pea starch in pet food applications is a major contributor to this segment's growth.

The population in the region is gradually moving from traditional food groups to a range of healthier food options and is willing to spend more on food that offers high nutritional value. With increasing consciousness regarding diet and lifestyle among youth, the market is expected to grow significantly in the coming years.

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Regional Development

North America has dominated the global pea starch market for the last several years and is projected to garner higher growth over the forecast period. A rapid rate of urbanization, a major shift in consumer preference towards nutritional foods, and growing demand for plant-based ingredients are attributing to the substantial market growth in this region. In the Asia Pacific, the market accounted for the largest revenue share followed by the Europe region. Increasing consumption of starch sauces, noodles, and soup is one of the major factors driving the regional market growth.

Competitive Outlook

The market for pea starch is becoming fragmented and competitive as companies are taking strategic moves such as acquisitions, alliances, mergers, and capital extensions. Some of the prominent players operating in the pea starch market are Parrish and Heimbecker, Ltd., Axiom Foods, Inc., Dakota Dry Bean, Puris Foods, Vestkorn Milling AS, Roquette Freres, Meelunie B.V., AGT Food and Ingredients, Shandong Jianyuan Group, Emsland Group, Yantai Shuangta Food Co., Ltd., Cosucra Groupe Warconing SA, Felleskjøpet Rogaland Agder, and the Scoular Company. Companies are focusing on the expansion of production facilities to meet continuously rising demand.

Target Audience

Supply Side: Ingredient Producer and Supplier Company
Demand Side: Food & Beverages Industry, Pharmaceutical Sector, Textile Industry
Regulatory Side: Food and Drug Administration (FDA)

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Polaris Market Research has segmented the pea starch market report on the basis of type, application, end-use, and region:

Pea Starch Type Outlook (Revenue, USD Million, 2016 – 2028)

Organic Pea Starch
Traditional Pea Starch

Pea Starch Application Outlook (Revenue, USD Million, 2016 – 2028)

Gelling
Film Foaming
Binding and Thickening
Texturizing
Others

Pea Starch End-Use Outlook (Revenue, USD Million, 2016 – 2028)

Food & Beverages
Animal Feed
Pet Food
Cosmetics
Pharmaceutical
Textile
Others

Pea Starch Regional Outlook (Revenue, USD Million, 2016 – 2028)

North America

U.S.
Canada

Europe

Germany
UK
France
Italy
Spain
RoE

Asia Pacific

China
India
Japan
South Korea
RoAPAC

Latin America

Brazil
Mexico
Colombia
RoLATAM

Middle East & Africa

Saudi Arabia
South Africa
Israel
UAE
RoMEA

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.

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