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.
Pulse products are a fast-growing market with immense potential. The demand for these nutritious and delicious products is on the rise, as people become more health-conscious and seek out foods that are good for them.
There are many reasons for the increasing popularity of pulse products. They are packed with nutrients, including protein, fiber, and vitamins, and they are low in calories and fat. Pulse products are also versatile and can be used in a variety of dishes, from soups and stews to salads and pasta.
Consumption of pulse products provides numerous health benefits such as boosting immunity, promoting body growth, and reducing chances of disease development. As a result, these products are gaining immense traction among health-conscious consumers.
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.
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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.
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Competitive landscape:
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.
Pulse Products Market by Category
By Product:
- Chick Peas
- Kaspa Peas
- Lentils
- Pigeon Peas
- Fava Beans
- Black Gram
- Beans
- 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 User:
- Home Use
- Snack Food Industry
- Flour Industry
- Others
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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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