05 Mar 2020
The global pulse ingredient market is set to grow considerably over the next seven years, driven by personal health and wellbeing trends.
The finding was revealed in the ResearchAndMarkets.com report, "Global Pulse Ingredients Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2019 To 2027" which is now available online.
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. The development of new pulse ingredients globally drives the market.
The growing trend of convenient, ready-to-eat, fast-cooking foods has fueled the interest of manufacturers in the developing pulse ingredients. Initiatives by the government across the nation for pulse production and consumption also drive market growth. For instance, in The U.S. Agricultural Act of 2014, a farm bill conducted a few initiatives for pulse crop funding across the nation. The bill comprises numerous health initiatives that offered more than US$ 120 million to investigate the overall nutritional and health benefits offered by pulses. The product program is also included in the bill that assigned US$ 10 Mn for 5 years to the United States department of agriculture for establishing a delivery and supply chain to showcase dry peas, lentils, chickpeas into 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, the development of products with pulses is on the rise. The addition of pulse flour to cereal-based food is a new trend in the pulse ingredients market. Thereby, it supports the overall pulse ingredients market.
Some key market facts:
- 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 the Asia Pacific includes a growing middle-class population that is more inclined to use food products that offer an additional health benefit. Thereby, it supports 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.
- The 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 the 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 applications offered by pulse flour in various industries such as animal feed and food and beverage.
Download the full report here