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Pea Starch Market Is Estimated To Witness High Growth Owing To Rising Demand for Gluten-Free Products

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Anjali CMI
Pea Starch Market Is Estimated To Witness High Growth Owing To Rising Demand for Gluten-Free Products

The global Pea Starch Market is estimated to be valued at US$ 126.73 million in 2022 and is expected to exhibit a CAGR of 8.16% over the forecast period from 2023 to 2030, according to a new report published by Coherent Market Insights.


Market Overview:

Pea starch is a white, fine powder produced from the endosperm of peas. It is widely used in various industries such as food and beverages, pharmaceuticals, and textile, among others. Pea starch offers numerous advantages such as high water-holding capacity, excellent thickening properties, and exceptional binding ability. Moreover, it is a gluten-free alternative to wheat-based starches, making it highly beneficial for individuals with gluten intolerance or celiac disease. The growing demand for gluten-free products, coupled with the increasing prevalence of gluten-related disorders, is expected to drive the growth of the pea starch market during the forecast period.


Market Key Trends:

One key trend observed in the pea starch market is the rising adoption of pea starch as a sustainable ingredient in the food and beverage industry. Pea starch is derived from a renewable source, making it a more sustainable option compared to starches derived from other crops. Furthermore, peas have a lower carbon footprint and require less water and fertilizers for cultivation, making them an environmentally friendly choice. With the increasing consumer demand for sustainable and eco-friendly products, manufacturers in the food and beverage industry are incorporating pea starch in their formulations to cater to this trend. This trend is expected to drive the growth of the pea starch market in the coming years.


PEST Analysis:


Political: The political factors influencing the pea starch market include government regulations and policies regarding food safety and labeling. Governments may impose restrictions on the production and distribution of pea starch if it does not comply with these regulations, which could affect market growth.


Economic: The economic factors impacting the pea starch market are the overall economic conditions and consumer spending power. A stable and growing economy can boost the demand for pea starch as it is used in various industries including food and beverages, pharmaceuticals, and cosmetics.


Social: The social factors influencing the market include consumer preferences for natural and organic products. As pea starch is considered a clean-label ingredient and is derived from a plant source, it aligns with the growing trend of health-conscious and environmentally conscious consumers.


Technological: Technological advancements in the production and processing of pea starch can significantly impact the market. Improved extraction methods, refining techniques, and product innovations can enhance the quality and functionality of pea starch, making it more attractive to manufacturers in different industries.


Key Takeaways:


The global Pea Starch Market Scope is expected to witness high growth, exhibiting a CAGR of 8.16% over the forecast period of 2023 to 2030. The increasing demand for clean-label and plant-based ingredients in the food and beverage industry is a major driver for this growth. Pea starch's functional properties, such as its thickening, stabilizing, and gelling abilities, make it an ideal ingredient in various applications like bakery, confectionery, soups, sauces, and dairy products.


From a regional analysis perspective, North America is expected to be the fastest-growing and dominating region in the pea starch market. The presence of major food and beverage companies, along with the increasing demand for natural and gluten-free products, is driving the market in this region.


Key players operating in the pea starch market include Groupe Emsland, Roquette Frères, The Scoular Company, COSUCRA - Groupe Warcoing, Ingredion Incorporated, Axiom Foods Inc., Yantai Shuangta Food Co. Ltd, Vestkorn Milling AS, Puris, Meelunie BV, AGT Food and Ingredients Inc., and Shandong Jianyuan Bioengineering Co. Ltd. These key players contribute to the market growth through product development, mergers and acquisitions, and strategic partnerships to expand their market presence and cater to the increasing demand for pea starch globally.


Read more @ https://www.newsstatix.com/future-prospects-of-the-pea-starch-market-segmentation-and-growth/

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