The Asia Pacific Pea Derivatives Market would witness market growth of 11.0% CAGR during the forecast period (2022-2028).
Pea starch's thickening and gelling abilities are being improved by the high proportion of amylose starch it contains compared to other starch sources, which has expanded its use as a food additive in making bread, snacks, and soups. The popularity of pea starch as well as green pea protein, in food & beverage applications, is also rising, which is enhancing the market's revenue. These applications include sports nutrition, gluten-free foods, protein shakes, and vegetarian and vegan nutrition. Pea starch, conversely, has a higher gel strength and a stronger resistance to crumbling over a wider pH range.
Therefore, pea starch, a feasible source of thickening agent in the food sector, is in greater demand as a natural component, particularly in soups and sauces. The growing demand for pea protein due to the rising popularity of gluten-free foods is causing the pea derivative industry to flourish. Furthermore, the demand for texturizing and binding substances in food applications, such as pea fiber and starch, promotes market expansion. Pea derivatives are utilized in various industries, such as food and beverage production, animal husbandry, and personal care.
In China, over the past few years, the demand for food products with additional starch has seen a noticeable rise. As a result, Asia Pacific consumers are very interested in food goods with clear labels and natural components. Moreover, expenditure on food and drink has surged throughout Asia, especially in China. As it is a superb raw material for bean vermicelli and because pea starch is swiftly replacing mung beans as one of the new favorites among Chinese consumers, the demand is anticipated to be steady and grow quickly. All these elements promote the pea derivatives market's expansion in the region.
The China market dominated the Asia Pacific Pea Derivatives Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $389.5 million by 2028. The Japan market is estimated to grow a CAGR of 10.4% during (2022 - 2028). Additionally, The India market would experience a CAGR of 11.7% during (2022 - 2028).
Based on Application, the market is segmented into Meat Substitutes, Bakery Goods, Dietary Supplements, Beverages, and Others. Based on Type, the market is segmented into Pea Protein (EIsolates, Concentrates, Textured and Hydrolysate), Pea Starch, Pea Fiber and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Pea Derivatives Market is Projected to reach USD 5 Billion by 2028, at a CAGR of 10.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include International Flavors & Fragrances, Inc., Roquette Freres SA, PURIS, NutriPea LP (G.S. Dunn Dry Mustard Millers), The Scoular Company, Fenchem Biotek Ltd., The Green Labs LLC, COSUCRA Groupe Warcoing S.A., Burcon NutraScience Corporation, and Sotexpro (GEMEF Industries).
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