Based on products, global pea starch market share is segmented as feed, food and industry grade types. Food grade is suitable for human consumption while feed grade is apt for animal consumption. Food grade is extensively used in pharmaceutical and food & beverage industries. Pea starch industry share from food grade segment is projected to register over 24% CAGR between 2018-2025.
Feed grade products are widely used to enhance the texture of animal feed products during extrusion and palletization processes. The product acts as a digestible source of energy for animals and imparts significant nutritional value to animal feed items. Proliferation in global animal feed industry will fuel the demand for feed grade products, complementing pea starch market outlook.
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Animal feed application segment is poised to be a major driver for pea starch market growth owing to rapid expansion of Europe animal feed sector. The region comprises of about 20 feed-producing countries, accounting for over 70% of the global production. Europe also represented 20% of the global feed production during 2017. Pea starch industry share from animal feed application is anticipated to hold over 10% of the global share during 2018-2025.
Rapid evolution across North America and European food & beverage sectors is anticipated to foster pea starch market trends in the coming years. Pea starch is used in meat to enhance flavor and texture for high yield poultry rolls, pork hams, among many packaged food. It also provides stability during the processing of bakery products, sausages, and other processed meats.
Extensive consumption of noodles in Asian countries such as China, Japan, Singapore, and South Korea will be a major factor driving the regional demand, as pea starch acts as a key ingredient and raw material in the production of noodles, vermicelli, and several other snacks. Asia Pacific pea starch market size is projected to observe healthy growth over the forecast timespan.
Feed grade product segment in pea starch market is estimated to grow at over 23% during the analysis timeframe. Based on end-user, pea starch industry size is segmented into animal feed, food & beverage, and several others. Pea starch effectively preserves food & beverage quality and increases the shelf life of packaged food products such as dairy, meat, snacks and soups. Food & beverage applications will dominate the global share on account of widespread product use in a range of product formulations.
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Growing focus on adopting healthy eating habits among the American and European populations has encouraged cooking at home using natural ingredients. Pea starch is available in organic, gluten-free and non-genetically modified varieties and is prominently used as a binding and thickening agent in a variety of food products.
Europe pea starch market share will witness a prominent 25% CAGR over the forecasted timeframe. Robust growth in Europe food & beverage and animal feed industries led by Germany, France, Spain, Italy, and the UK will stimulate the product demand across the region. Burgeoning demand for pea starch for manufacturing pet food and feed products is further anticipated to augment the market size. Developments in Europe cosmetics and pharmaceutical industries will certainly contribute towards the business growth.
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