Pulse Ingredients Market by Type (Pulse Flours, Pulse Starch, Pulse Proteins, and Pulse Fibers & Grits), Source (Lentils, Peas, Beans, and Chickpeas), Application (Food & Beverages, Feed, and Others), and Region-Global Forecast to 2023
“The pulse ingredients market is projected to grow at a CAGR of 4.5% in terms of value.”
The pulse ingredients market is estimated at USD 17.4 billion in 2018 and projected to grow at a CAGR of 4.5%, to reach USD 21.6 billion by 2023. The growth of the pulse ingredients market is driven by the rising demand for healthy and natural food ingredients in the food industry. The popularity of protein-rich food products and increased health-consciousness among consumers are also driving the demand for pulse ingredients. However, adherence to international quality standards and regulations regarding food ingredients and unpleasant flavors of pulses act as restraints for the market’s growth.
“The food & beverages segment in the pulse ingredients market is estimated to account for the largest share in 2018.”
Based on application, the food & beverages segment is estimated to account for the largest share in the pulse ingredients market in 2018. Pulse ingredients are used in a variety of food products such as bakery products, confectioneries, snacks, soups, sauces, and seasonings. Expansion of the food & beverage industry in the emerging Asia Pacific region due to the urbanization is projected to create lucrative opportunities for pulse ingredient manufacturers in the coming years as consumers in the region are opting for food products with health benefits.
“The pulse flours segment in the pulse ingredients market is estimated to account for the largest share in 2018.”
Based on type, the pulse flours segment is estimated to account for the largest share in the pulse ingredients market in 2018. Pulse flour is used in a variety of food products in countries such as India and the Middle East as a rich source of protein. Chickpeas flour and pea flours are the most common pulse flours consumed in these countries. Pulse flours are gaining popularity in developed countries such as the US, due to its health benefits and the growing health concerns among consumers in the country.
“The Asia Pacific pulse ingredients market is projected to witness significant growth.”
The Asia Pacific region is projected to be the fastest-growing market during the forecast period. The region is backed by a fast-growing population, urbanization, and expansion of the middle-class population with the increasing demand for health-benefiting food products. The region consists of countries such as China and India, which have a billion plus population base. Apart from this, the region consists of Japan, which is projected to be a major revenue pocket for pulse ingredients manufacturers due to a large old age population base.
Break-up of Primaries:
By Company Type: Tier 1 - 45 %, Tier 2 - 33%, and Tier 3 - 22%
By Designation: C-level - 45%, D-level - 33%, and Others* - 22%
By Region: North America - 11%, Europe- 11%, Asia Pacific - 45%, and RoW*- 33%,
*Others include sales managers, marketing managers, and product managers.
**RoW includes South America and the Middle East & Africa.
Leading players profiled in this report:
The Scoular Company
Diefenbaker Spice & Pulse
Best Cooking Pulses
AGT Food and Ingredients
Cosucra Groupe Warconing SA
Vestkorn Milling SA
Dakota Dry Bean
The report segments the pulse ingredients market on the basis of source, type, function, application, and region. In terms of insights, this report has focused on various levels of analyses—competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the global pulse ingredients high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
To get a comprehensive overview of the pulse ingredients market
To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
To gain insights about the major countries/regions, in which the pulse ingredients are gaining popularity
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