According to the new market research report "Pea Starch Marketby Application (Food & Beverages, Feed, Pet Food, Industrial), Function (Binding & Thickening, Gelling, Texturizing, Film Forming), Grade, and Region (North America, Europe, Asia Pacific, Row) - Global Forecast to 2023", published by MarketsandMarkets™, the global pea starch market is estimated to account for USD 91.8 million in 2018 and is projected to reach USD 134.7 billion by 2023, at a CAGR of 8.0% during the forecast period. The market is driven by factors such as the integrated use of pea starch in ethanol production, growth in the demand for convenience food, and an increase in the production of pea.
The food & beverages segment, by application, is estimated to account for the largest market share in 2018.
The food & beverages segment is estimated to dominate the global pea starch market in 2018. The demand for pea starch in the food & beverages industry has increased in the recent past, due to the growing requirement of natural ingredients during the production process around the globe. Natural ingredients such as pea starch are mainly used in soups and sauces as it is a viable source of thickeners in this industry.
The snacks & savories segment, by application, is estimated to hold the largest market share in 2018.
Pea starch plays a vital role in improving the product quality of snacks & savories as it is one of the best gelling agents available in the industry. Pea starch is used in snacks to cater to the consumer demand for convenience in usage, enhanced taste and texture, and products that are rich in starch, protein, nutrients, and minerals. This starch is also used in snacks such as crackers, energy bars, cereal bars, snack bars, corn chips, potato chips, extruded snacks, and cracker fillings. In addition, the demand for pea starch continues to remain high in the production of pasta and noodles, which in turn, drives the market in this segment.
The Asia Pacific market is projected to grow at the highest CAGR from 2018 to 2023.
The Asia Pacific region is projected to grow at the highest CAGR during the forecast period. Over two-thirds of the pea starch market in the Asia Pacific region is dominated by multinational pea starch manufacturers. The growth of the market in this region is many driven by the rising awareness of pea starch, the market potential for existing products, and unexplored application segments.
This report includes a study of pea starch along with the product portfolios of leading companies. It includes the profiles of leading companies such as Emsland Group (Germany), Roquette Freres (France), and Vestkorn Milling AS (Norway), Cosucra Groupe Warconing SA (Belgium), and Roquette Freres (France).
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