by Pea starch is extracted from yellow dried peas and finds its applicability in various industries like food & beverages, paper, textiles, and pharmaceuticals. It possesses characteristics like neutral taste, high viscosity, stability during sterilization, and thickening properties that favor its use as a thickening, texturing and stabilizing agent. Pea starch is used in food products like soups, sauces, pasta, baked goods and snacks to improve texture, body and mouthfeel. In pharmaceuticals, it acts as a disintegrant and binder in tablet formulations. The paper industry uses pea starch as a binder, while textiles employ it for sizing purposes.
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 pea starch market is driven by the rising demand and substituting maize and potato starches owing to its several functional advantages. Pea starch provides improved stability at cold temperatures and during sterilization as compared to other starches. It also offers neutral odor and taste profile favoring its uses in food applications. Moreover, pea starch has excellent film forming properties that help extend shelf-life of food products making it suitable for coating snacks, meat, and bakery products. It also enables production of gluten-free products catering to the large consumer base with gluten intolerance problems. These key characteristics and functional benefits have led to increase in pea starch replacing traditionally used starches in various industries. Furthermore, rising vegan population and clean label trends are bolstering the demand for pea starch sourced plant-based ingredients.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate. While barriers to entry are higher due to requirements for large capital and R&D investments, growing demand is attracting new players.
Bargaining power of buyers: The bargaining power of buyers is high given the fragmented nature of buyers and presence of substitutes. Buyers can negotiate lower prices and demand better quality and services.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. While few global players control majority supply, local farmers also play a supply role. Suppliers have moderate pricing power.
Threat of new substitutes: The threat of substitutes is moderate as starches from other sources like corn, wheat and potatoes can be used as alternate. However, pea starch has certain functional advantages.
Competitive rivalry: The competitive rivalry is high considering the large presence of global players. Players compete on pricing, product differentiation, marketing and customer relationships.
Key Takeaways
The Global Pea Starch Market Demand is expected to witness high growth.
Regional analysis: Europe is also expected to witness significant growth in demand for pea starch driven by rising health concerns, clean label trend and growth of organic foods industry in countries like Germany, UK and France.
Key players: Key players operating in the pea starch market are Roquette Freres, Cosucra Groupe Warcoing SA, Emsland Group, Meelunie, and Puris Foods. Players are focusing on new product launches, capacity expansions and partnerships to strengthen their foothold.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
