The Global Pulse Ingredients Market share is expected to exceed more than US$ 21.36 Billion by 2020 and is valued USD 28.8 billion by 2027 at a CAGR of 4.32% in the given forecast period. The elevated demand for vegan and plant-based products is increasing the demand for pulse-based ingredients globally. Nowadays consumers are more inclined towards using pulse-based ingredients due to its inherent attributes for health benefit. Pulse is not only limited to food and drinks but also is one of the key elements for pet food products.
The growing population globally demands sustainably produced protein-rich foods. These crops are used in the production of protein-rich seeds that can be used as material for the production of pulse ingredients or can be eaten directly, such as protein concentrates, flours, or isolates, and starches. However, the flavour is a major factor restraining the use of many vegetable protein ingredients. Similar to soy ingredients, off-flavours in pulse ingredients are a barrier to consumption and limit the expansion of pulse ingredients into mainstream food applications. Nonetheless, pulse ingredients will continue witnessing high demand from food and beverages, feed and other segments.
Due to the presence of various proteins, iron and fibres, pulse ingredients mainly pulse flour is in high demand. Pulse flour has many applications, for example, it can be used to make cookies, pasta, and puddings. In addition, increasing pulse flour applications across various industries such as food and beverages, animal feed products will support the growth of the market.
Improved health awareness among consumers worldwide is boosting market demand for pulse ingredients. In addition, the growing demand for pulse starch in various food industry applications is also expected to significantly influence the market for pulse ingredients. In addition, the increasing popularity among consumers about protein-rich food products is expected to have a fuel the demand for pulse ingredients.
In the coming years, rising customer inclination toward vegetarian and vegan diets worldwide is projected to boost the markets for pulse ingredients. The rising demand for clean label and gluten-free food items is anticipated to provide market participants opportunities to capitalize on untapped potential. Worsening situation, on the other hand, is supply chain disruptions caused by the recent COVID-19 effect. With manufacturers experiencing difficulties in obtaining raw materials and fewer staff available, the production of chemicals for animal nutrition may become hampered.
Some of the market participants dominating the global pulse ingredients market identified across the value chain include Ingredion, Roquette Frère, Emsland Group, ADM, and AGT Food and Ingredients Company, Herba Ingredients BV, Avena Foods, Limited, Anchor Ingredients Co., LLC, Puris, Archer Daniels Midland, Batory Foods, Unigrain Pty Ltd. among the other pulse ingredients manufacturers.
The Asia Pacific pulse ingredients market is driven by the rise in disposable incomes, urbanization, and expansion of the food & beverage industry. The Asia Pacific region is backed by major revenue generating countries such as China and India. These countries have a large population base coupled with the growth of the middle-class population that are opting for food products with health benefits due to the growing adaption of urbanized lifestyle. India is one of the major countries that consume pulse flours due to its high-protein content.
Report : Pulse Ingredients Market - By Type (Pulse Proteins, Pulse Starches, Pulse Fibres & Grits), By Application (Food & Beverages, Feed, and Others), By Source (Peas, Chickpeas, Beans, and Lentils) and By Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Industry Analysis, Opportunity and Forecast 2020 To 2027