PEA STARCH MARKET ANALYSIS

Market Challenges And Opportunities

Global Pea Starch Market Drivers:

Growing demand for free-from food ingredients to increase sale of pea starch market growth

Increasing awareness about health and the demand for clean-label products are driving market growth. According to the survey conducted by Food Marketing Institute in 2019, about 86% of consumers agreed to have a higher sense of trust for food products that provide access to complete and “easy-to-understand” ingredients listed on their labels. Food products bearing “free-from” claims are increasingly hitting the retail shelves and foodservice menus globally. For example, American Key Food Products offers natural, “clean label,” GMO-free, gluten-free, and allergen-free native pea starch for various end-user industries.

Wide use of pea starch with functional benefits to propel market growth

The wide use of pea starch, ranging from the food processing industry to animal feed and cosmetics , along with the rising awareness regarding its multifunctionality attribute, such as  texturizing, gelling, binding,  thickening, coating, and film-forming is accelerating market growth. According to the Roquette Frères survey, about one-third of the consumers in the European Union buy sports nutrition food products to meet their energy requirements on a daily basis. At the same time, health-driven consumers are actively seeking alternative sources of carbohydrates in functional food products, including active nutrition products with a low glycemic index.

Global Pea Starch Market Opportunities:

Grain free’ pet foods are gaining popularity in the market and this is expected to hold potential market opportunities. For instance, in April 2019, Ingredion launched PURITY P 1304 pea starch. It provides superior formulation functionality, helping manufacturers meet the consumer demand for grain-free, clean-label pet foods with an enhanced nutritional profile.

Dietary supplement produced from pea starches are expected to show promising market opportunities in the near future. For instance, in December 2019, Roquette Frères launched Roquette Pea Starch LN 30, a product suited for active nutrition applications that comes in powder shake and snack bar formats. Roquette digestibility analysis shows that this unique pea starch is slowly digested and might offer a sustained and easily available energy to perform.

Global Pea Starch Market Restraints:

Easy availability of low-cost alternatives

Corn is a popular cereal grains which is consumed worldwide and has the highest starch content, among others. It has economical price range and high starch yielding capacity. For instance, 1 cup (141 grams) of corn kernels contains 25.7 grams of starch or 18.2% by weight. Such availability of low-cost substitute is projected to hinder the market growth.

Negative impact of Covid-19 on the global economy

The lockdown situation in several countries due to Covid-19 has directly or indirectly impacted wide range of industries leads to the shift in activities such as supply chain operations, production process, and product commercialization. Nevertheless, resumption of economy activities after covid1-9 will favor the market growth.