PEA STARCH MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 


Pea Starch Market Analysis:

The Pea Starch Market is projected to experience substantial growth, expanding from USD 128.50 million in 2023 to USD 190.21 million by 2028, at a Compound Annual Growth Rate (CAGR) of 8.16% during the forecast period (2023–2028).

The COVID-19 pandemic had a significant impact on international trade, with the grains, pulses, legumes, and oilseeds sectors experiencing a relatively smaller effect compared to other agricultural industries. However, the import of legumes (including peas) and pulses declined by 6% from January 2019 to February 2020, as reported by the World Bank, due to supply chain disruptions and export restrictions. These restrictions directly affected the prices of agricultural commodities, including peas, which were expected to have a negative price effect on their processed products such as protein, fiber, and starch. The high price point of many pea-based options posed a significant challenge, which was exacerbated by the recession created by the pandemic, resulting in lower disposable income for many.

Despite these challenges, pea starch has gained immense popularity in the food and starch industries due to its extensive use in various applications, from easy processing to firm gels, and its provision of vital performance and functionality benefits. Consumers are increasingly seeking food with great texture and taste, made with clean labels and recognizable ingredients, and pea starch provides all these preferred attributes without compromising the color and taste of the food.

The pet food industry’s growing demand for pea starch and continuous developments in the food and beverages industries may offer lucrative opportunities for the global pea starch market’s growth during the forecast period.

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