Analyst Perspective
The global pulse ingredients market is estimated to register a CAGR of 4.8%. The global pulse ingredients market is booming, offering various pulse-based products for the food and beverage industry. The growing vegan market is anticipated to boost overall market growth. Product innovation, diversification beyond traditional pulse ingredients, and targeting untapped markets are significant growth-driven opportunities for the market. Fluctuations in production and price, taste preferences, and competition from established protein sources are significant challenges that may restrain the pulse ingredients market's growth.
Market Overview
Pulse proteins are gaining popularity over animal proteins due to their enhanced supply of macromolecules, dietary fat, and fiber. These ingredients are extensively used in bakery, snacks, dairy, and meat substitutes, catering to customer preferences for high-fiber, protein, and low-fat products. Pulses like beans, lentils, chickpeas, and peas are gaining traction due to their nutritional value, easy cultivation, and sustainability. The market is propelled by the rising trend of plant-based diets, a surge in demand for clean-label and organic foods, and increasing awareness of the health benefits associated with pulse ingredients. Pulse proteins are becoming popular, replacing animal-based proteins in plant-based food and drinks. As people's disposable income increases, they are willing to spend more on healthy and specialty foods, which drives to demand for pulse ingredients, often used in premium food products. Food manufacturers are constantly developing new and innovative ways to use pulse ingredients, making them more appealing to consumers and helping drive market growth.
Market Drivers
- Rising demand for plant-based and gluten-free products
Consumers increasingly seek healthy and sustainable food options, and pulse ingredients work for both of this purpose. Pulses are naturally gluten-free and an excellent plant-based protein and fiber source. Hence, they carry lower number of calories as compared to other alternatives.
- Growing awareness of the health benefits of pulses
Pulses are a good source of protein, fiber, vitamins, and minerals source. They have been linked to several health benefits, including reducing the risk of heart disease, stroke, and diabetes.
Market Segmentation
The global pulse ingredients market is segmented based on type, source, and application. The global pulse ingredients market is segmented based on type into pulse flours, pulse starches, pulse proteins, pulse fibers and grits, and others. The market is segmented based on source into peas, beans, chickpeas, lentils, and others. Based on application, it is into food and beverages, feed, and others.
Regional Analysis
The report provides a detailed industry overview, which includes qualitative and quantitative information. It gives an overview and forecast of the global pulse ingredients market based on several segments. It also provides market size and forecast estimates from 2020 to 2030 concerning five major regions: Europe, North America, Asia-Pacific (APAC), Middle East & Africa (MEA) and South & Central America. The market by region is also sub-segmented by respective countries and segments. The pulse ingredients market report covers an analysis and forecast of eighteen countries globally and the prevailing trends and opportunities in the region.
The report analyses factors affecting the pulse ingredients market from both the demand and supply side. Furthermore, it evaluates market dynamics during the forecast period, i.e., drivers, challenges, opportunities, and future trends. The report also provides an extensive porter's five forces analysis highlighting factors affecting the pulse ingredients market in these regions.
Key Players
The reports cover vital organic and inorganic growth strategy developments in the pulse ingredients market. Various companies concentrate on organic growth strategies such as product launches, approvals, patents, and others. Inorganic growth strategies activities observed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the development of the business and customer base of market players. The market players in the pulse ingredients market are anticipated to have lucrative growth opportunities with the increasing demand for sustainable products in the global market.
The report includes key companies' profiles, swot analysis, and pulse ingredients market strategies. The report also focuses on leading market players with information including components and services offered, company profiles, financial information for the last three years, and critical development in the past five years.
Below is a list of companies engaged in the pulse ingredients market.
- AGT foods
- Anchor ingredients
- Batory foods
- Ingredion
- Roquette Freres
- ADM
- Cargill inc
- The Scoular Company
- Diefenbaker spice & Pulse
- Vestkorn