The COVID-19 outbreak that started spreading from Wuhan, China, and became widespread across countries, has affected the livelihood of millions. Moreover, the pandemic has led to economic decline in various regions due to a lack of business activities. For Instance, according to World Bank, due to COVID-19, the global GDP will decline by 5%. Thus, the pandemic has laid out a drastic impact on all industries and sectors in the market, while hampering the supply and demand of the markets, such as the pea starch market.
Due to this disrupted market, various sectors have seen major changes in the consumption behavior of consumers. A change that stands out during these fickle times is the increased consumption of a variety of pea starch in various food products. The major reason for such changes among the consumers as well various food product manufacturers is that pea starch is considered to be more healthy in nature, as it is gluten and lactose-free.
Obesity is one of the diseases making the patients more vulnerable to the high risk of COVID-19. As though the years there have been an increase in the population with obesity and CVD, there will be a significant rise in COVID-19 cases.
Prevalence of Obesity among Adults, BMI >= 30 (Age-Standardized Estimate) (%)
Such instances have made consumers more aware of what they eat, as a larger intake of calories, fat, and carbohydrates results in an increased risk of cholesterol, which increases the risk of obesity and overweight. Due to which consumers as well as manufacturers have been more conscious regarding the calorie intake from the food, and have shifted their preference to healthy ingredients, such as pea starch. This is because, in comparison to other starchy ingredients, pea starch is gluten-free and lactose-free in nature. Furthermore, it contains less fat and is a rich source of amylose.
At the beginning of 2020, the pandemic has resulted in a drastic increase in the demand for food and food supplements that are healthy in nature. A popular trend in consumers is a shift to a various special diet which is considered healthy. Consumers on these special diets also seem to be at a lower risk of diabetes, cholesterol, obesity, and other diseases. As COVID-19 is at high risk in patients with obesity, the consumption of healthy and vegetarian food ingredients such as pea starch has increased in consumers, as they have low calories, gluten-free, and lactose-free in nature.
Percentage of adults aged 20 and over on most common special diets on a given day, by age: United States, 2015–2018
The restriction imposed during lockdown has changed the mind-set of the consumers and business enterprises towards the online shopping and e-commerce platform that has augmented the growth of the market. The partnership with online delivery platforms such as Alibaba, Indiamart, Amazon, Walmart, and others has also supported the supply chain of pea starch products in the global market. With social media and e-commerce providing a huge platform for major and minor baby food manufacturers, the consumers have been abled with ordering and pick-up at their convenience or get their order shipped at their locations. Few companies have also developed their e-commerce platforms that have benefitted their supply chain, which has overall enhanced the demand for pea starch.
During this crisis time health has become an imperative issue for the consumer. From making smaller changes such as high nutrition and mineral food to major lifestyle changes such as organic and natural food, consumers have put health as a priority. As pea starch is well known for its nutritional benefits and vegan nature, the demand for pea starch products is expected to increase among the manufacturers as well the consumers, with COVID-19 and after COVID-19. Thus, few companies have been making various developments to meet the growing demand.
Due to the pandemic, the global economy has taken a hit, which has resulted in the major breakdown of various industries. This disruption has followed through sectors, such as pea starch, interfering with the supply chain and demand of the company. The economy with this major downfall can only be rebuilt by a combined effort of industry players, government, and consumers. The overall measures for the wellbeing of individuals have been incorporated, keeping in mind the isolation at home and by staying alert of the food and clinical supplies, especially for the underprivileged communities are being thoughtfully tracked by government across the country. Retaining and boosting immunity has become a major concern for consumers. For which consumers have been taken various precautions and actions to maintain a healthy lifestyle. Moreover, such trends and behavioural changes are expected to stick with the consumers even after the pandemic is over. Thus, it is expected that the overall market will grow furthermore after this global pandemic is over.