According to a recent report by Future Market Insights, a market research and competitive intelligence provider, the pulse ingredient market is estimated to reach a value of USD 19 Bn by 2032, surging at 4.5% CAGR through the decade.
Because of the rising demand for natural ingredients and clean-labeled food products, the Pulse Ingredients Market is expanding. Consumers are shifting their diets to include more natural and organic ingredients because pulse ingredients are high in vitamins and minerals.
The main drivers of market expansion are the rising demand for products that are plant-based and gluten-free as well as the rising popularity of foods that are high in protein. A change in people’s lifestyles towards protein-based food along with an increase in disposable income is anticipated to accelerate the global development of the pulse ingredients market.
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Key Takeaways from Market Study
- India’s economy is still in its early stages. The country has an abundance of raw material for pulse ingredients, which is primarily used by pulse ingredient manufacturers.
- For the forecast period of 2022-2032, the pulse ingredient market in Japan is expected to grow at a CAGR of 3%.
- Australia is the third-largest producer and exporter of faba bean, a pulse ingredient. Aside from that, the country is the seventh largest producer and exporter of field peas.
- The United States of America is a developing market for pulse ingredients, with the largest share expected during the forecast years.
- China is regarded as a major contributor to total pulse production. It is expected to reach a market size of USD 5.2 billion by 2032, with a CAGR of 7.1% from 2022 to 2032.
“The increasing demand for plant-based and gluten-free products, as well as the growing acceptance of protein-rich food products, are the primary factors driving market growth. Increasing disposable income, combined with a shift in people’s lifestyles, is expected to drive the overall market development of the Pulse Ingredients Market between 2022 and 2032,” says a Future Market Insights analyst.
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Competitive Landscape
As a result of current trends, some key market players are focusing on various expansion strategies in order to sustain future growth. Product innovation, acquisition, collaboration, and expansion will remain popular strategies for market participants looking for a competitive advantage.
Among the prominent players and regional players in the global pulse ingredients market are Ingredion Incorporated, Roquette Frères S.A., Emsland-Starke GmbH, The Scoular Company, AGT Food and Ingredients Inc., Cosucra Groupe Warcoing S.A., Vestkorn Milling A.S., and Dakota Dry Bean, Inc.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global pulse ingredient market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on form (Hard, Soft) type (Spreadable, All-Purpose, Butter Blend) application (Bakery, Confectionery, Sauces, Dairy and Ice-cream, Spreads & Toppings, Others (Ready to Eat Meals, Baby Food, and Snacks)) region (North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA).
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About Future Market Insights (FMI)
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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