Future Market Insights (FMI) has anticipated the global pulses market to surpass a revenue threshold of US$ 100 Bn by the end of the 2020-2030 forecast period, in its recently published report.
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FMI opines the market is slated to scale new heights amid heightening demand for fiber-rich and nutrient infused foodstuffs. Recent years have seen an upsurge in the availability of pulse based instant foods. Pulses are known to reduce cholesterol and triglyceride levels, thus enhancing life expectancy.
After taking the COVID-19 pandemic into consideration, growth prospects for the global pulses market appear largely optimistic, with sluggishness staving off due to relaxation of lockdowns.
Key Takeaways from FMI’s Pulses Market Report
- APEJ to represent lucrative growth opportunities, generating nearly 60% of revenue
- Dried beans to enjoy widespread popularity, attributed to the presence of vital micronutrients
- Demand for organic pulses experiencing northward shift, expanding at a CAGR exceeding 7%
- E-commerce to register staggering growth, owing to rising dependence on virtual platforms amid the pandemic crisis
- Pulse flour acquiring ascending popularity due to widespread applications in preparing various foods
- Global pulses market to expand at 4.9% value CAGR across the assessment period
COVID-19 Impact Insights
As the COVID-19 pandemic tightens its grip around the world, the global pulses market has experienced minor deceleration. This has mostly resulted due to constraints in logistical arrangements to transport finished products from the producer to the market. Fortunately, this setback is gradually eroding with lockdown restrictions easing.
Moreover, growth of the pulses market is largely being sustained by e-commerce channels, despite conventional retail outlets resuming operations. Voluntary social distancing measures adopted by consumers is driving this purchasing behavior. Nowadays, consumers are relying on platforms such as Big Basket, Amazon and Grofers to purchase pulses.
Furthermore, the trend of healthy eating has also picked up pace, with consumers hoping to strengthen their immunity by eating fiber, nutrient and vitamin rich foodstuffs. Therefore, growth prospects of the global pulses market appear largely optimistic throughout the 2020-2030 assessment period.
Competitive Landscape
Prominent players in the global pulses landscape are concentrating on introducing innovative and customized products based on customer-specific requirements, strategic collaborations, partnerships and ventures.
For instance, in 2017, Danone acquired WhiteWave, a prominent plant-based food & beverages manufacturer with the objective of expanding its own range of plant-based foods and beverages. This acquisition has helped Danone realize its commitment to uphold consumer expectations of healthy and sustainable food choices.
In 2008, General Mills Inc. introduced a wide spectrum of gluten-free cereals within its product portfolio. These cereals are primarily made from non-gluten containing sources such as pumpkin seeds, peanuts, corn, pulses, berries and other fruits & vegetables.
In November 2016, Monde Nissin entered into a joint venture with Nippon Indosari to launch Sarimonde Foods, with the objective of broadening its food and beverage portfolio outreach within the Philippines.
Key Segments
Product Type
- Dry Beans
- Lentils
- Faba Beans
- Dry Peas
- Chickpeas
- Cowpeas
- Bambara Beans
- Pigeon Peas
- Vetches
Nature
- Organic
- Conventional
Form
- Whole
- Flour
- Split
End Use Application
- B2B
- Food & Beverage Industry
- Pharmaceutical Industry
- Cosmetic Industry
- Nutraceutical Industry
- Animal Feed Industry
- Household/Retail
- Store-based Retail
- Hypermarkets/Supermarkets
- Convenience Stores
- Mass Grocery Retailers
- Wholesale Stores
- Departmental Stores
- Food & Drink Specialty Stores
- Other Retail Forums
- Online (E-commerce)
- Food Service (HoReCa)
- Institutional (Schools, Universities, etc.)
Region
- North America (U.S & Canada)
- Latin America (Brazil, Mexico & Rest of Latin America)
- Europe (Germany, Italy, France, U.K., Spain, BENELUX, Russia, Poland & Rest of Europe)
- APEJ (China, India, South Korea, ASEAN Countries & Rest of APEJ)
- Japan
- Oceania (Australia & New Zealand)
- Middle East & Africa (GCC, South Africa, Northern Africa & Rest of MEA)
Browse Full Report at : https://www.futuremarketinsights.com/reports/pulses-market#:~:text=The%20projections%20for%20pulses%20remain,due%20to%20the%20coronavirus%20pandemic.
More Insights on the Pulses Market
Future Market Insights, in its new report, offers an unbiased analysis of the global pulses market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the pulses market on the basis of product type (dry beans, lentils, faba beans, dry peas, chickpeas, cowpeas, bambara peas, pigeon peas and vetches), nature (organic and conventional), form (whole, flour and split) and end use application (B2B, household/retail, food service and institutional) across six prominent regions.
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