Market Size of Pea Starch Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.16 % |
| Fastest Growing Market | North America |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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Pea Starch Market Analysis
The Pea Starch Market size is expected to grow from USD 128.50 million in 2023 to USD 190.21 million by 2028, at a CAGR of 8.16% during the forecast period (2023-2028).
The global outbreak of the COVID-19 pandemic had a significant impact on international trade. The effect on the grains, pulses, legumes, and oilseeds sectors was generally smaller than in other agricultural industries. 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 directly impacted the prices of agricultural commodities, including peas, which was expected to automictically have a negative price effect on its processed products such as protein, fiber, and starch. The high price point of many pea-based options had been a critical challenge, which became a more significant issue with the recession created by the pandemic, resulting in lower disposable income for many.
However, pea starch has gained immense popularity in the food and starch industries. Pea starch is extensively used in various applications, from easy processing to firm gels, as it offers vital performance and functionality benefits. Consumers are always seeking food with great texture and taste, made with clean labels & recognizable ingredients, and pea starch provides all these preferred attributes without any compromise in the color and taste of the food.
An increase in demand for pea starch from the pet food industry and continuous developments in the food & beverages industries may offer lucrative opportunities for the growth of the global pea starch market during the forecast period.
