The global pea starch market was worth USD 135.2 Million in 2020 and is further projected to reach USD 215.6 Million by 2027, at a CAGR of 6.7 % during 2021-2027 (forecast period). Global demand for pea starch is projected to be driven by rising consumer demand for natural or plant-based ingredients. The demand for pea starch is expected to expand during the forecast period as it offers gluten-free solutions to food manufacturers along with other health advantages such as low-calorie, allergen-free, and lactose-free solutions. In addition, due to its organic origin, pea starch helps provide clean labels for treated food products, such as meat products and baked products.
Demand from lactose-intolerant customers driving market growth
Lactose intolerant people prefer pea starch as their main dietary ingredient. In comparison to lactose products, this pea starch is easy to digest. Another factor contributing to the growth of the market is the changing consumption pattern among consumers. Pea starch is expected to become more popular among health-conscious consumers during the forecast period due to its anti-allergic properties and low-calorie content. The same factors are currently driving the growth of the global pea starch market.
Wide application in various industries
The increasing demand for pea starch in industrial applications is also responsible for driving the market's growth during the forecast period. For example, apart from the food and feed industry, pea starch is also used in the pharmaceutical industry for film-forming and coating tablets and capsules due to its gelling, thickening, and texturizing properties. It is also widely used in the production of gelatin-free capsules. Furthermore, pea starch is increasingly being used as an ingredient in personal care and cosmetic products.
Lack of awareness
Consumers are less aware of pea starch's outstanding properties and advantages, which is likely to hamper the growth of the market. Furthermore, because of a lack of awareness, pea starch is in lower demand, and other starches derived from potatoes, maize, and other sources are becoming more prevalent in the industry. These are a few factors that may hamper the development of the pea starch industry during the forecast period. However, rising demand for pea starch in a variety of sectors, such as pharmaceuticals, food and beverages, and cosmetics, combined with consistent marketing campaigns by manufacturers, will increase customer awareness and support industry demand.
Impact of COVID-19 in the industry
COVID-19, which has been declared a global public health emergency by the World Health Organization (WHO), is affecting almost every industry on the planet. The demand for pea starch also witnessed a decline during this lockdown phase in many regions. Due to complete or partial lockdown, the demand for pea starch decreased in various industries such as dairy, beverages, cosmetics manufacturing, and others. Manufacturers' growth efforts have also been hampered, and they have been forced to delay growth plans due to economic turmoil.
Global Pea Starch Market: By Source
Based on sources, the global pea starch market is categorized into Organic, and Inorganic. Among these two, the organic segment is the fastest-growing segment, as more people nowadays prefer organic and natural-based products over inorganic ones due to changing preferences and increased awareness about individuals' overall health. Organic pea starch is a gluten-free and naturally occurring carbohydrate that is nutritious due to the presence of simple sugars. Furthermore, the growing consumer preference for clean label products will drive demand for organic pea starch in the global market.
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