March 28, 2020

Pulse Ingredients Market: Increasing trends for vegan and gluten-free products supports the market growth

The latest market report published by Credence Research, Inc. “Pulse Ingredients Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027”

The pulse ingredients market was valued at US$ 15.83 Bn in 2018 and expected to grow at a CAGR of 4.6% during the forecast period from 2019 to 2027.

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Market Insights:

“Development of new pulse ingredients globally drives the market”

The growing trend of convenient, ready-to-eat, quick-cooking foods has fuelled manufacturers ‘ interest in developing pulse ingredients. Government-wide pulse production and consumption initiatives also drive market growth. For example, the 2014 U.S. Agricultural Act, a farm bill, conducted a few nationwide initiatives to fund pulse crops. The bill includes numerous health initiatives offering more than US$ 120 million to investigate the overall nutritional and health benefits that pulses offer. Product program is also included in the bill that allocated $10 million to the U.S. Department of Agriculture for 5 years to establish a supply and supply chain to show case dry peas, lentils, chickpeas in high school programs.

The Australian Pulse Conference 2016, suggests that consuming 100-200g of pulses per day reduces the risk of heart disease and also lowers the blood glucose level. Moreover, development of products with pulses is on rise. The addition of pulse flour to cereal-based food is new trend in the pulse ingredients market. Thereby, supports the overall pulse ingredients market.

Pulse Ingredients Market

Top manufacturers for pulse ingredients market are expanding their product portfolio by developing new pulse ingredients based product.

Industrial Developments:

• In December 2019, Roquette launched two new products. The new plant-based proteins are derived from fava beans and peas. The launch of new products aims to address the growing consumer demand for sustainable nutritional sources.
• In January 2018, Verdient Foods entered into a joint venture with Ingredion. Ingredion is a U.S. based company. The Joint venture aims to expand the product portfolio in pulse and pulse-based products.

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Key Market Movements:

• Globally, the pulse ingredients market is rising at a CAGR of 4.6% for the estimated period from 2019 to 2027
• The Asia Pacific dominated the global pulse ingredient market in the year 2018. The dominance led by the wide availability of various types of pulses in the region. Moreover, Countries in Asia Pacific includes growing middle-class population that are more inclined to use food products that offers additional health benefit. Thereby, supports the market growth.
• Western Europe market expected to grow considerably due to rising consumer preference towards personal health and overall wellbeing. Pulse flour ingredient consumption is gaining traction in the European region along with lentils.
• Food & Beverage segment holds the largest share in the overall pulse ingredients market. Expansion of food & beverage industries in a number of emerging economies supports the growth of F&B segment in the global pulse ingredients market.
• The material segment subdivided into pulse starch, pulse flour, pulse proteins, and others. Pulse flour holds the largest share due to multiple application offered by pulse flour in various industries such as animal feed and food and beverage.

List of Companies Covered:

• Roquette Freres
• Dakota Dry Bean
• Bunge Limited
• SunOpta
• Axiom Foods, Inc.
• Puris
• Emsland Group
• AGT Food and Ingredients
• Avena Foods, Limited
• Ingredion

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