Global Concentrated Pea Starch Market Size Likely to Surpass at a CAGR of 5.1% By 2033

As per the current market research conducted by the CMI Team, the global Concentrated Pea Starch Market size is expected to record a CAGR of 5.1% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 1,662.1 Million. By 2033, the valuation is anticipated to reach USD 2,600.6 Million.

Concentrated Pea Starch Market: Growth Factors and Dynamics

• Rising Demand for Clean-Label Ingredients: With increasing consumer awareness about health and wellness, there is a growing demand for clean-label and natural ingredients in food and beverage products. Concentrated pea starch, being a natural and plant-based ingredient, is witnessing heightened demand as a clean-label alternative to synthetic thickeners and stabilizers.

• Expansion of Plant-Based Food Industry: The global shift towards plant-based diets and lifestyles is driving the growth of the plant-based food industry. Pea starch, derived from peas, fits well into this trend due to its gluten-free, non-GMO, and sustainable characteristics. As a result, the market for concentrated pea starch is experiencing significant growth owing to its widespread use in plant-based food products.

• Growing Preference for Gluten-Free Products: There is a rising prevalence of gluten intolerance and celiac disease, leading to an increased demand for gluten-free food products. Concentrated pea starch serves as an excellent gluten-free alternative in various food formulations, including bakery, snacks, and processed foods, driving its adoption and market growth.

• Functional Properties and Versatility: Concentrated pea starch offers a wide range of functional properties such as thickening, binding, gelling, and film-forming, making it a versatile ingredient in various industries including food and beverage, pet food, pharmaceuticals, and industrial applications. Its multifunctional attributes contribute to its growing demand and market expansion.

• Technological Advancements in Extraction and Processing: Ongoing advancements in extraction and processing technologies have enabled the production of high-quality concentrated pea starch with improved functional and nutritional properties. These technological innovations have enhanced the efficiency of pea starch production, reduced processing costs, and expanded its application scope, further driving market growth.

• Focus on Sustainable and Eco-Friendly Ingredients: With increasing environmental concerns and emphasis on sustainability, there is a growing preference for eco-friendly ingredients sourced from renewable resources. Pea starch, being derived from peas, aligns well with sustainability goals as peas are nitrogen-fixing crops that require minimal water and fertilizer compared to other crops. This focus on sustainability is driving the adoption of concentrated pea starch in various industries, contributing to market growth.

Concentrated Pea Starch Market: Partnership and Acquisitions

• In 2022, Royal DSM, a Dutch multinational company, finalized the acquisition of Vestkorn Milling, a prominent European producer of pea-derived products. The transaction, valued at US$ 79.97 million, strengthens DSM’s position in the market for plant-based ingredients and aligns with its sustainability-focused growth strategy.

• In 2021, Gillco Ingredients and Cosucra Inc. formed a distribution agreement, with Gillco tasked to distribute specialty ingredients like Nastar native pea starch to end customers across various consumer sectors in the United States, enhancing accessibility and market reach.

Report Scope

Concentrated Pea Starch Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Concentrated Pea Starch Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Disruption in Supply Chains: The COVID-19 pandemic led to disruptions in global supply chains, affecting the sourcing and transportation of raw materials required for the production of concentrated pea starch. This disruption resulted in temporary shortages and increased costs, impacting the availability and pricing of pea starch products.

• Shifts in Consumer Demand: During the pandemic, there were shifts in consumer preferences and purchasing behaviors, with increased demand for essential food products and staple ingredients. This change in demand patterns influenced the consumption of concentrated pea starch, with fluctuations in demand from various end-use industries such as food and beverage, pet food, and industrial applications.

• Diversification of Supply Chains: Companies in the concentrated pea starch market are diversifying their supply chains to mitigate the risks associated with future disruptions. This includes identifying alternative sources of raw materials, optimizing logistics networks, and establishing backup production facilities to ensure uninterrupted supply.

• Product Innovation and Development: To adapt to changing consumer preferences and market dynamics post-COVID-19, manufacturers are focusing on product innovation and development. This may involve introducing new formulations of concentrated pea starch with enhanced functional properties, tailored for specific applications and customer requirements.

• Strategic Partnerships and Collaborations: Collaboration with suppliers, distributors, and other stakeholders in the value chain is essential for the recovery of the concentrated pea starch market. Strategic partnerships can help companies access new markets, expand their distribution networks, and leverage complementary capabilities to drive growth.

• Market Expansion and Diversification: Companies are exploring opportunities for market expansion and diversification to reduce dependence on specific regions or industries. This may involve targeting emerging markets, expanding product portfolios to cater to diverse customer needs, and exploring new applications for concentrated pea starch beyond traditional sectors.

• Emphasis on Sustainability and Traceability: In response to growing consumer demand for sustainable and transparent supply chains, companies in the concentrated pea starch market are emphasizing sustainability practices and traceability measures. By ensuring eco-friendly production processes and providing traceability information to consumers, companies can enhance brand reputation and competitiveness in the post-COVID-19 market landscape.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Concentrated Pea Starch Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the Concentrated Pea Starch Market:

• Roquette Frères
• Ingredion Incorporated
• Cargill Incorporated
• Emsland Group
• AGT Food and Ingredients Inc.
• Vestkorn Milling AS
• Cosucra Groupe Warcoing SA
• Parrheim Foods
• The Scoular Company
• Meelunie B.V.
• Dakota Dry Bean Inc.
• Sotexpro
• Axiom Foods Inc.
• Sanstar Bio-Polymers Ltd.
• Nutri-Pea Limited
• Others

The Concentrated Pea Starch Market is segmented as follows:

By Product Type

• Yellow Peas
• Green Peas

By Nature

• Organic
• Conventional

By End Use

• Sups & Sauces
• Confectionery
• Bakery
• Breakfast Cereals
• Ice-Cream & Desserts
• Pasta & Noodles
• Snacks & Savory
• Processed Meat Products
• Animal Feed
• Pet Food
• Pharmaceuticals
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America