Global Pea Starch Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Pea Starch Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global pea starch market was valued at USD 109.84 million in 2020 and is projected to witness a CAGR of 8.16% during the forecast period (2021 - 2026).

The entire lockdown situation in several countries has directly or indirectly impacted many industries causing a shift in activities like supply chain operations, vendor operations, product commercialization, etc. The disruption in the supply chain on various agricultural commodities, including pea starch, has experienced minimal impact till now.

However, according to the World Bank, the import of legumes (including peas) and pulses from January 2019 to February 2020 declined by 6%, owing to supply chain disruptions, followed by export restrictions. The export restrictions have a direct impact on the prices of agricultural commodities, including peas, which is expected to automictically have a negative price effect on its processed products such as protein, fiber, and starch.

Major players followed the strategy of strengthening their supply chain by collaborating with local players to cater to supply chain issues faced during Covid. For instance, in February 2021, PURIS Holdings and Livekindly Collective announced joint ventures to lay the foundation for a global regenerative plant-based future. The companies are aiming to introduce protein-rich, sustainable crops globally, and are first working in Southern Africa, where PURIS’ pea variety has excelled in early trials. Additionally, the companies will be accelerating development on innovative processes and food products that deliver on affordability, sustainability, and nutrition within the plant-based meat and dairy spaces.

Globally, pea starch has gained immense popularity in the food and starch industries. From easy processing to firm gels, pea starch is extensively used in a broad range of applications as it offers key performance and functionality benefits.

Key Market TrendsConsumer Preference For Free-from Food Ingredients To Drive The Sales Of Pea Starch

As consumers globally have grown more health-conscious, clean label alternatives to modified starches have been developed and come in greater focus. More comprehensive focus on minimally processed food products, more authentic and real ingredients, no synthetic additives, and antibiotic-free food products drive the demand for clean label starches, globally. Increased demand for healthy products experienced a significant increase in the launch of processed food products, including pea protein, as ingredients. Satisfying the need for pea protein has resulted in increased availability of other pea-based products based on fiber and starch. Pea starch is a non-GMO, clean label ingredient providing gluten-free, allergen-free, low-calorie, low-fat solutions to a wide range of consumers. Pea starch offers numerous unique features, such as the formation of high viscosity pastes and stronger gels, which can benefit the food industry, especially as an alternative to chemically modified starch. The rise in popularity of veganism, dietary supplements, and flexitarian diet are the major accelerators for the growth of the global pea starch market. The rising popularity of quitting meat and the influence of social media has a huge impact on the growth of the market as people are increasingly becoming aware of the side effects of meat and dairy products. The enriched nutrients derived from the alternative food choices are expanding the opportunities for the pea starch market. Higher diagnosis of consumers facing meat allergies and lactose intolerance is moving them towards healthier food alternatives. Another factor boosting the market growth is the rise in the number of diseases due to sedentary lifestyles. Doctors and dieticians are suggesting patients quit unhealthy consumption of antibiotic-fed meat products and choose better alternatives thus, bolstering the demand for pea starch.

Europe Dominates the Global Pea Starch Market

In the global pea satrch market, Europe held the largest market share. Euroepan countres like United KIngdm, Germany, Italy, Russia and France among others are the major contributor to the overall growth of the region. The stringent government regulations for labeling allergens such as gluten free on food products, coupled with about 8.5 million consumers in 2019 (according to Sustain Health Magazine) following a gluten-free diet, resulted in an increasing number of consumers seeking food and beverage products with gluten-free claims. The growth in the gluten-free products market, followed by the ongoing trend of veganism, is one of the major factors resulting in the active penetration of pea starch in the country. According to The Vegan Society, over the period under consideration, the number of vegans in Great Britain quadrupled. In 2014, the number of vegans was estimated to be 150 thousand, which increased to 600 thousand in 2019. That year, vegans accounted for 1.16% of the population of Great Britain. Moreover, the growing number of youngsters regularly indulging in sports and athletic activities has resulted in the increased consumption of dietary supplements products containing starch as an ingredient. To cater to the demand of consumers, manufacturers are innovating products that can be specifically used in sports nutrition.

Competitive Landscape

The global pea starch market is competitive in nature, with many local and international players competing for the market share. Emsland Group, Roquette Frères, Puris, Cosucra Groupe Warcoing SA, and Ingredion Incorporated hold the dominant positions in the market. The key players are expanding their footprints in the global market to gain a lucrative share in the growing pea starch industry. The other leading participants in the market are Axiom Foods Inc. and Cosucra. To retain their positions within the market or gain an advantage over its competitors, these companies have set their focus on R&D, expansion, partnership, and innovation. For instance, Cosucra opened its second pea processing plant in Aarhus, Denmark, to further support its development in the plant-based food segment. The facility will be jointly operated by the existing owner of the facility, AABT, and Cosucra.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Groupe Emsland
Roquette Fre?res
The Scoular Company
COSUCRA
Groupe Warcoing
Ingredion Incorporated
Axiom Foods Inc.
Yantai Shuangta Food Co. Ltd
Puris

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