The pulse products market refers to the industry that deals with the production, processing, and distribution of pulses. Pulses are a type of leguminous crop that includes various dried beans, lentils, chickpeas, and peas. They are known for their high nutritional value, being a rich source of protein, dietary fiber, vitamins, and minerals.
The global pulse products industry has experienced significant growth in recent years, driven by factors such as increasing consumer awareness of the health benefits associated with pulses, changing dietary preferences, and the rising demand for plant-based protein alternatives. Pulses have gained popularity among health-conscious individuals, vegetarians, and vegans due to their low fat and cholesterol content, as well as their ability to support a balanced diet.
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As per FMI, the global pulse products market size is valued at US$ 1,28,023.8 Mn in 2022 and is expected to grow to US$ 1,95,044.6 Mn by 2032, with overall sales likely to rise at 4.3% CAGR throughout the forecast period.
Growing health awareness among people and growing demand for nutritious plant-based products are driving the global pulse products market.
Plant-based products are both healthier and safer than animal-based products. The pulse products market is being driven by the growing popularity of veganism around the world and increasing applications of pulse products in bakeries, snacks, beverages, and pet food.
Pulse products are linked to a number of health benefits. Some of these health benefits include improved heart health, lower blood pressure, and reduced cholesterol levels. Additionally, pulse products have also been linked to a decreased risk of developing certain types of cancer, which has led to a growing consumer preference for these products. This will continue to boost pulse products market during the forecast period.
Another factor driving the sales of pulse products is the growing demand for vegan and gluten-free foods. Pulse products have become great choices for people with dietary restrictions or allergies as they are low in carbs and calories. Pulse products are also non-GMO and made with organic ingredients. This appeals to consumers who are looking for healthy, natural products.
Key Takeaways:
- Based on product, dry peas segment is expected to account for a significant value share of over 13% in the global pulse products market in 2022.
- By type, the pulse protein segment is likely to grow at a higher pace during the forecast period.
- North America is projected to hold a revenue share of around 34.4% in the global pulse products market during the forecast period.
- The India pulse products market is anticipated to expand at around 5.4% CAGR between 2022 and 2032.
- The pulse products market in the U.K. is expected to grow at a steady CAGR of 4.6% during the projected period.
- The U.S. pulse products market is expected to reach a valuation of US$ 34 Bn in 2022.
“Rising demand for healthy and nutritional products by consumers is projected to boost the pulse products market during the projected period. Besides this, growing applications in pet food will further propel the demand for pulse products over the next ten years,” says a lead analyst at Future Market Insights.
Rising Usage in Food Products Boosting Pulse Products Market
Companies are using pulse products in their food products because they are a healthier option than some other types of food. For example, pulse flour is lower in calories and has more nutrients than other types of flour.
Pulse products are used by companies like Avena Foods to create functional foods and supplements. The products come in many forms, including powders, granules, and tablets. They can be used to create healthy snacks or meals, and they are also popular among athletes and those looking to maintain a healthy weight.
Competitive landscape:
The top 5 manufacturers of pulse products include Roquette, Vestkorn, Purisfoods, Avena Foods and ADM, together holding around 20% to 30% Pulse products market share. These companies are adopting various organic and inorganic strategies such as new product launches, mergers, acquisitions, collaborations, partnerships, price reduction, and strengthening of distribution channels to improve their revenue share as well as expand their global footprint.
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Future Market Insights, in its new offering, provides an unbiased analysis of Pulse products presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study provides valuable insight on the pulse products market based on by Product (Chick Peas, Kaspa Peas, Lentils, Pigeon Peas, Fava Beans, Black Gram, Beans, Lentils, Dry Peas, Mung Beans, Other), By Type (Pulse Fiber, Pulse Grits Pulse Starches, Pulse Protein, Pulse Flour), By Application (Bakery, Beverages, Extruded Snacks, Pet Food, Others), By End Use (Home use, Snack Food Industry, Flour Industry, Others)
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Frequently Asked Questions
- How big is the pulse products market?
- At what rate is the pulse products market expected to rise during the forecast period?
- What is the demand outlook for the pulse products market?
- What is the North America pulse products market outlook?
- Which are the major countries driving demand for pulse products?
- At what rate will the China pulse products market grow?
- At what rate will the pulse products demand grow in Europe?
- Who are the top 5 players operating in the pulse products market?
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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