Newark, Sept. 19, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global pulse ingredients market is expected to grow from USD 19.62 billion in 2021 to USD 32.34 billion by 2030, at a CAGR of 5.71% during the forecast period 2022-2030.
The growing adoption of protein-rich food products is anticipated to expand the pulse ingredients industry demand during the projection period. Moreover, pulses ingredients are high in magnesium and calcium, which help maintain bone health in weight management. This factor helps to boost market growth. Also, the increasing demand for healthy food ingredients and the worldwide population increase are helping to propel market growth. However, stringent international standards & regulations on quality are restraining market growth. Furthermore, the demand for clean-label and gluten-free food products is an opportunity for market growth.
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Competitive Strategy
To enhance their market position in the global pulse ingredients market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
For example, in November 2021, DSM Company acquired Vestkorn Milling, one of the biggest producers of bean & pea-derived elements for plant-based protein products. Further, this strategic move was to improve the product portfolio & expertise of the firm and strengthen its worldwide reach.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | USD 19.62 billion |
| Market Size in 2031 | USD 32.34 billion |
| CAGR | 5.71% |
| No. of Pages in Report | 220 |
| Segments Covered | Source, Type, End-User, Regions |
| Drivers | The increasing consumer preference toward protein-rich food products |
| Opportunities | The consumer preference for vegan and vegetarian diets |
| Restrains | The fluctuations in the production of pulses |
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Market Growth & Trends
The growth of the pulse ingredients market is driven by increasing globalization and raised health consciousness among customers worldwide. Moreover, the growing demand for vegan and gluten-free products is the market growth trend. In addition, the increasing world population demands sustainably manufactured food products that are nutrient-rich & healthy, propelling the market growth during the forecast period. Also, a change in people's lifestyles towards protein-based food and an increased disposable income are driving market growth. Further, the rapidly growing gluten-free and health food industry and the growth prospect for low Glycemic Index foods & other niche and specialty pulse products are these factors that are increasing the product demand in the market growth during the forecast period.
Key Findings:
• In 2021, the chickpeas segment dominated the market with the largest market share of 32.15% and market revenue of 6.30 billion.
The source segment is divided into peas, lentils, chickpeas, and beans. In 2021, the chickpeas segment dominated the market with the largest market share of 32.15% and market revenue of 6.30 billion. This growth is attributed to the increasing demand for chickpea products such as chickpea flour.
• In 2021, the pulse flours segment dominated the market with the largest market share of 30.22% and market revenue of 5.92 billion.
The type segment is divided into pulse proteins, pulse starch, pulse & grits, and pulse flours. In 2021, the pulse flours segment dominated the market with the largest market share of 30.22% and market revenue of 5.93 billion. This growth is attributed to the growing awareness of the benefits of pulse flour. Further, by 2030, the pulse starch segment will likely dominate the market due to the rising demand for gluten-free products.
• In 2021, the food and beverages segment dominated the market with the largest market share of 41.11% and market revenue of 8.06 billion.
The end-user segment is divided into feed, food and beverages, and others. In 2021, the food and beverages segment dominated the market with the largest market share of 41.11% and market revenue of 8.06 billion. This growth is attributed to the increasing popularity of non-GMO products amongst customers.
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Regional Segment Analysis of the Pulse Ingredients Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific region occurred as the largest market for the global pulse ingredients industry, with a market share of 48.36% and a market value of around 9.48 billion in 2021. The Asia Pacific dominates the pulse ingredients market due to the increasing disposable incomes and trends of urbanization. Moreover, higher per capita consumption of baked goods and the rising food services and retail sales coupled with a high population are also helping to drive the region's market growth. Further, the North American region is expected to show the fastest CAGR of 7.01% over the projection period. This growth is attributed to the high inclination of customers toward pulses ingredients for their nutritional value. In addition, the growing demand for protein-rich & gluten-free products also propels market growth in this region.
Key players operating in the global pulse ingredients market are:
• Emsland Group
• Roquette Frères.
• ADM
• ANCHOR INGREDIENTS.
• COSUCRA.
• AGT Food and Ingredients
• Diefenbaker Spice & Pulse.
• PURIS
• Vestkorn
• Axiom Materials, Inc.
• Dakota Dry Bean Inc.
• Unigrain.
• SunOpta.
• Sleaford Quality Foods Ltd
• Batory Foods
• USA Pulses
• Best Cooking Pulses, Inc.
• The Scoular Company
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global pulse ingredients market based on below mentioned segments:
Global Pulse Ingredients Market by Source:
• Peas
• Lentils
• Chickpeas
• Beans
Global Pulse Ingredients Market by Type:
• Pulse Proteins
• Pulse Starch
• Pulse & Grits
• Pulse Flours
Global Pulse Ingredients Market by End-User:
• Feed
• Food and Beverages
• Others
About the report:
The global pulse ingredients market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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