Posted on Leave a comment

Pulse Ingredients Market Size, Share, Growth Drivers, Industry Overview, Trends, and Leading Players

Pulse Ingredients Market Size, Share, Growth Drivers, Industry Overview, Trends, and Leading Players
MarketsandMarkets™

Pulse Ingredients Market by Type (Pulse Flour, Pulse Starch, Pulse Proteins, Pulse Fibers & Grits), Source (Lentils, Peas, Beans, Chickpeas), Application (Food & Beverages, Feed) and Region – Global Forecast to 2027

The global pulse ingredients market size is estimated to be valued at USD 20.7 billion in 2022. It is projected to reach USD 25.9 billion by 2027, recording a CAGR of 4.6% during the forecast period. The pulse sector is undergoing dynamic changes at global, regional, and country levels, to meet the challenge of growing demand in face of sluggish production growth. Projections indicate that demand for pulse ingredients will continue to grow in the short-to-medium term in developing counties due to a growing population and rising per capita income. Pulse ingredients can play a major role in providing consumers with an alternative protein source. Soy and pea protein are still responsible for most new vegan products in Europe, according to The Vegan Review. But the growing demand for plant protein is also a good opportunity to shift away from these mainstream protein crops and introduce more variety in pulses or new protein sources such as sprouted grains. This may open opportunities for new source countries that can offer attractive bean varieties with consistent quality.

Pulse Ingredients Market

What are pulse ingredients?

Pulse ingredients refer to the edible seeds of leguminous crops, such as beans, lentils, chickpeas, and peas. These ingredients are highly nutritious and are rich in protein, fiber, vitamins, and minerals. Pulses are valued for their role in promoting sustainable agriculture due to their ability to fix nitrogen in the soil, reducing the need for synthetic fertilizers. They are also recognized for their potential contribution to addressing food security and combating malnutrition globally. Pulse ingredients can be used in various food products, including soups, snacks, baked goods, and plant-based meat alternatives, due to their versatility and nutritional benefits.

Pulse Ingredients Market Growth Drivers

1. Increasing Demand for Plant-based Proteins: As consumers become more health-conscious and environmentally aware, there’s a growing demand for plant-based protein sources. Pulses, such as lentils, chickpeas, beans, and peas, are rich in protein, making them an attractive alternative to animal-based proteins.

2. Rising Awareness of Nutritional Benefits: Pulses are known for their nutritional benefits, including being high in fiber, vitamins, minerals, and antioxidants. As awareness of these benefits increases among consumers, there is a greater inclination towards incorporating pulse ingredients into their diets.

3. Expansion of Food Processing Industry: The food processing industry has been expanding globally, driven by factors such as urbanization, changing lifestyles, and increasing disposable incomes. Pulses are versatile ingredients that can be incorporated into a wide range of food products, including snacks, bakery items, beverages, and meat substitutes, thereby driving demand.

4. Preference for Clean-label and Natural Ingredients: With growing concerns about synthetic additives and preservatives, consumers are increasingly seeking clean-label and natural ingredients in their food products. Pulses are minimally processed and naturally free from gluten, cholesterol, and allergens, making them attractive ingredients for manufacturers aiming to meet consumer preferences.

5. Government Initiatives and Subsidies: Many governments around the world are implementing policies and subsidies to promote the production and consumption of pulses. These initiatives aim to support farmers, enhance food security, and promote sustainable agriculture practices, thereby fostering growth in the pulse ingredients market.

6. Rising Incidence of Food Allergies and Intolerances: With an increasing number of people diagnosed with food allergies and intolerances, there is a growing demand for allergen-free alternatives. Pulses are naturally free from common allergens such as gluten, soy, and dairy, making them suitable ingredients for individuals with dietary restrictions.

7. Innovation in Product Development: Food manufacturers are continuously innovating and introducing new products incorporating pulse ingredients to cater to evolving consumer preferences. This includes the development of innovative formulations, such as pulse-based pasta, snacks, beverages, and plant-based meat substitutes, driving market growth.

Pulse Ingredients Market Opportunities: Emerging markets illustrating great potential for pulse ingredients

The demand for pulse ingredients is driven by an increase in processed and convenience foods production. Emerging economies such as India and China, in the Asia Pacific region, are exhibiting high growth. The Asia Pacific region also provides a cost advantage in terms of production and processing. High demand, coupled with low cost of production is a key feature, which will aid pulse ingredients suppliers and manufacturers in targeting market.

The increasing number of working women and nuclear families, improved standard of living, and changing lifestyles have contributed to the increase in demand for convenience and ready-to-eat foods. Busier lifestyles have increased the demand for on-the-go products so as to reduce the time spent on preparing meals; this results in a growing trend for snacks and consequently drives the market for RTE & bakery products, soups, and snacks prepared from pulse ingredients. The rise in demand for these products also results in an increased demand for healthier products incorporating pulse ingredients.

The pulse ingredients market is estimated to grow at a significant rate in the emerging markets of Brazil, and the Middle East, among others. The economic developments in these countries have resulted in an increase in the expenditure on food products. These economies are untapped markets and therefore offer significant opportunities for the pulse ingredients industry. They offer a huge consumer base with the growing need for processed foods. Steady sales of a variety of processed & packaged food products and prepared meals in the markets of developed economies have reached the maturity stage with limited growth scope.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=246427813

The chickpea segment is expected to grow at the highest CAGR during the forecast period

Chickpeas or garbanzo beans are a good source of proteins, vitamins, minerals, carbohydrates, and include high levels of dietary fiber. According to Food and Agriculture Organization (FAO), in 2019, India was the largest producer of chickpeas with about 70% supply coming from the country. It is the third largest produced legume in South Asia after bean and pea. Desi and Kabuli are two distinct types of cultivated chickpea; the Kabuli is grown in West Asia and the Mediterranean region, whereas the desi type is grown in the Indian subcontinent. Increased consumption of chicpea and use in various food and beverage application to drive the market for the segment.

Asia Pacific is Projected to Account for the Majority of Share in the Global Market During the Forecast Period.

Interest in pulses as a sustainable food source has expanded significantly. They are low in fat, high in nutrients, protein and soluble fiber. Because pulses do not contain gluten, they are acceptable for gluten-free diets for people with celiac disease and gluten intolerance. Pulses’ high nutritional value makes them great food, especially in areas where access to meat and dairy products is difficult due to economic, distribution, and marketing barriers.

Japan is also one of the potential pulse ingredients market due to its large geriatric population base. This is expected to fuel the demand for protein-enriched food products, thereby boosting the sales of pulse ingredients. Thus, the Asia Pacific region is expected to generate high demand for pulse ingredients in the coming years owing to the large population base and developing economies shifting toward plant-based ingredients.

Top Companies in the Pulse Ingredients Market

The key players in this market include DeLaval (Sweden), GEA Group Aktiengesellschaft (Germany), Lely (Netherlands), Trioliet B.V. (Netherlands), VDL Agrotech (Netherlands), ScaleAQ (Norway), BouMatic (US), Pellon Group Oy (Finland), Rovibec Agrisolutions (Canada), CTB, Inc. (US), Afimilk Ltd. (Israel), Dairymaster (US), Maskinfabrikken Cormall A/S (Denmark), HETWIN Automation System GmbH (Austria), and JH AGRO A/S (Denmark).

About MarketsandMarkets™

MarketsandMarketsTM has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/pulse-ingredients-market-246427813.html