Pulse Flours Market by Type (Pea, Bean, Chickpea, Lentil), Application (Food (Bakery Products, Extruded Food, Meat Products, Beverages), Feed, Nutraceuticals, Personal Care), and Region - Global Forecast to 2022
“Pulse flours market is projected to grow at a CAGR of 12.2% in terms of value”
The pulse flours market is estimated to be valued at USD 10.67 billion in 2017, and is projected to reach USD 18.97 billion by 2022, at a CAGR of 12.2% from 2017. The growth of pulse flour ingredients is driven by the increasing demand for gluten-free ingredients from the bakery, RTE, and snack food industries. The unpleasant taste of pulse flours is one of the major restraints for the market.
“Bean segment is projected to be the fastest-growing in the pulse flours market”
The bean segment is projected to grow at the highest rate during the forecast period. The increase in demand for premium food & beverage items based on natural and functional ingredients has influenced the manufacturers of food & beverage products to include more treated and protein-rich flours in their offerings, ultimately increasing the demand for various pulse flours. The bean segment is estimated to account for the largest share in 2017.
Beans have health benefits, from preventing diabetes to reducing blood cholesterol levels and helping prevent heart diseases. ADM (US) offers a range of VegeFull cooked whole-bean ingredients, which can be added to many health-conscious formulations, affording nutrition, texture, and bulk; these beans are gently dehydrated, milled, and pre-cooked.
“Asia Pacific is projected to be the fastest-growing region in the pulse flours market”
The Asia Pacific region is projected to be the fastest-growing market for pulse flours. The region’s improved agricultural growth over the last decade, followed by advancements in the food processing and food service industry, has opened new avenues for pulse flours. The rising middle-class population of the region, with high disposable income, demands healthy & nutritious food products with new & improved organoleptic properties, thereby increasing the need for pulse flours.
Break-up of primaries:
By Company Type: Tier 1 – 55 %, Tier 2 – 45%, and Tier 3 – 25%
By Designation: C level – 40%, Director level – 55%, and Others – 5%
By Region: North America - 40%, Europe – 25%, Asia Pacific – 30%, and RoW – 5%
The pulse flours market is dominated by key players such as Ingredion (US) ADM (US), SunOpta (Canada), Diefenbaker Spice & Pulse (Canada), Blue Ribbon (US), and Bean Growers Australia (Australia).
The report analyzes the pulse flours market across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as type, application, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall pulse flours market and submarkets. This report will help stakeholders to better understand the competitive landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report also helps the stakeholders to understand the market and provides them information on key market drivers, restraints, challenges, and opportunities.