WordPress – the_content doens’t give p tags back

I’m using a piece of code that returns all of my pages on 1 page (custom wordpress theme). The code works perfectly, but I can’t manage to output the pages with any p tags or formatting.

$pages = get_pages(); 

foreach ($pages as $page_data) {
    $content = apply_filters('the_content', $page_data->post_content); 
    $title = $page_data->post_title; 
    echo $content; 
}

I’ve read that you can use get_the_content, but I don’t see how I can implemented this in my loop.

Thanks

G.