PEA STARCH MARKET ANALYSIS

Pea Starch MarketSize and Trends

The global pea starch market size was valued at USD 126.73 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 8.16% from 2023 to 2030. Pea starch market is expected to witness strong growth in the near future owing to the growing number of health conscious consumers and increasing demand for clean-labeled food products. Moreover, growing food processing sector coupled with the growing demand for pea starch from animal feed application are other key factors propelling market growth.

Global Pea Starch Market Trends:

Growing demand from processed poultry sector is a rising trend

Ready-to-cook or processed poultry products is a growing trend and there is a rise in demand for pea starch from pet sector as it is a sustainable sourced binding agent. For instance, in March 2019, Grupo Mantiqueira, launched a plant-based vegan egg, N.Ovo, made with pea starch and plant protein. This innovation is a like-for-like replacement for eggs when used as binding agents in cakes, bread, and other baked goods.

Rise in veganism is another major trend

According to the soylent, in America alone, the number of vegans in 2019 reached over 9.7 million. Moreover, projections for the future suggest that by 2040, only 40% of the global population will continue eating meat.

Figure 2. Global Pea Starch Market Share (%), By Segment Type