Pea starch is extensively used as a thickening and binding agent in soups, sauces, and gravies due to its viscosity and texture enhancing properties. It helps increase the volume and softness of baked goods. The pea starch acts as a gluten-free alternative for people with celiac disease or gluten intolerance. The global pea starch market is estimated to be valued at US$ 157.88 Bn in 2024 and is expected to exhibit a CAGR of 21% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The expanding food and bakery industry has been driving the demand for pea starch in recent years. Pea starch is widely used as a binder and thickener in baked goods such as bread and pastries as it helps retaining moisture and texture. It is also used as a replacement for wheat flour. The increasing number of people adopting gluten-free or plant-based diets has propelled the demand for pea starch in the market. Moreover, pea starch aids in improving the yield and quality of baked products, which has further increased its adoption in the flourishing food and bakery industry.
Strength: Pea starch has high digestibility and offers versatile functional properties such as thickening, binding, and stabilization which makes it suitable for various food applications.
Weakness: Production of pea starch requires a complex process of milling, sieving, and drying which increases the cost of production.
Opportunity: Rising demand for plant-based and gluten-free ingredients from food processing and personal care industries offers significant growth opportunities.
Threats: Fluctuations in pea crop yields due to adverse weather conditions can hamper the raw material supply.
The Global Pea Starch Market Demand is expected to witness high growth.
Regional analysis comprises the Europe region currently dominates the market and is expected to maintain its leading position over the forecast period owing to large production and consumption of peas in countries like Germany, UK and France.
Key players operating in the pea starch market are Tesla Inc., First Solar Inc., Hanergy Thin Film Power Group. The key players are focusing on new product launches and partnerships to expand their global presence and cater to the growing demand for plant-based ingredients. For instance, in 2019, Roquette, a leading player, launched organic pea starch to expand its product portfolio in the organic food sector.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it