Market Synopsis:
Market Research Future (MRFR) has published detailed report asserting that the global pea starch market is marked to expand remarkably at a CAGR of 11.3% during the forecast period of 2018-2023 and reach the valuation of USD 165.2 Mn by the end of the forecast period form USD 86.5 Mn in 2017. High starch content of about 40% makes peas a rich source of natural starch. Increasing demand for processed food due to changing lifestyle and rise in trend of gluten-free diet are inducing high demand for pea starch in the global market, resulting in the significant expansion of the global pea starch market. The low-calorie formulation and high nutritional value pea starch make it an excellent additive for the diet conscious population. Hence, rise in popularity of the concept of dieting in order to maintain a healthy lifestyle is fueling the expansion of the global pea starch market. However, allergic reaction caused by peas are likely to act as restraining factor on the expansion of teh global pea starch market during the forecast period.
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Key Players:
The key players operating in the global pea starch market are Emsland Group, Roquette Freres, Vestkorn Milling AS, Cosucra Groupe Warconing SA, Shandong Jianyuan Group, Meelunie B.V., Parrish And Heimbecker, ltd., Axiom Foods, Puris Foods, Yantai Oriental Protein Tech co., ltd., The Scoular Company, Inc., AGT Food and Ingredients, Felleskjøpet Rogaland Agder, Dakota Dry Bean and Qingdao CBH Co., Ltd. The players in the global pea starch market are aiming towards the expansion of their businesses through strategic mergers and acquisitions, which are also aiding them for sustaining the competitive environment of the global pea starch market.
Market Segmentation:
The global pea starch market has been segmented on the basis of grade, application and function. Based on grade, the global pea starch market analysis has been segmented into food, feed and industrial. Among these, the food segment commands the major share in the global pea starch market owing to the high demand for this product in the food and beverages industry. The industrial segment is forecasted to be the fastest growing segment in the global pea starch market analysis owing to the increasing demand for pea starch in various end-use industries. Based on application, the global pea starch market analysis has been segmented into food and beverages, industrial, pet food and others. Among these, the food and beverages segment commands the major share in the global pea starch market owing to the high demand for pea starch for preparation of various food products. The industrial application segment is forecasted to be the fastest growing segment in the global pea starch market. Based on function, the global pea starch market analysis has been segmented into binding and texturing, gelling, film forming, texturizing and others. Among these, the binding and thickening segment is dominating the global pea starch market. Whereas, the gelling segment is anticipated to be the fastest growing segment in the global pea starch market during the forecast period.
Regional Analysis:
Geographically, the Global Pea Starch Market has been segmented into four major regions such as North America, Europe, Asia Pacific and the Middle East and Africa. The Asia Pacific region is marked to expand significantly in the global pea starch market analysis owing to the high consumption of pea starch for the preparation of noodles and vermicelli. Rapid expansion of food and beverages industry in this region is also aiding the growth of the pea starch market in the Asia Pacific region. High demand for pea starch as animal feed and increased consumption of processed food as a result of changing lifestyle are propelling the growth of the pea starch market in the North America region. The pea starch market in the Europe region is projecting noteworthy expansion owing to the rise in demand for processed food and increasing utilization of pea starch in various end-use industries multiple purposes in this region.
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