Global Pulse Ingredient Market - 2023-2030

Global Pulse Ingredient Market - 2023-2030

The Global Pulse Ingredient Market reached US$ 20.1 billion in 2022 and is expected to reach US$ 28.5 billion by 2030 and is expected to grow with a CAGR of 4.5% during the forecast period 2023-2030. One trend in the pulse ingredients market is the increasing popularity of plant-based dairy alternatives. For instance, companies like ripple foods use pea protein in their milk substitutes, providing a creamy and nutritious dairy-free option.

The pulse ingredients market has witnessed steady growth in recent years, driven by increasing consumer demand for plant-based and sustainable food options. With a wide range of products such as pulse flours, proteins, starches, and fibers, the market offers versatile and nutritious alternatives to traditional ingredients. Major food companies have embraced pulse ingredients in various applications, including baked goods, snacks, and meat substitutes, contributing to market expansion.

One driver for the pulse ingredients market is the rising demand for gluten-free products. For instance, food companies like Bob's Red Mill incorporate pulse flours in their gluten-free baking mixes to cater to gluten-sensitive consumers. As more people adopt gluten-free diets due to health reasons or dietary preferences, the demand for pulse-based ingredients in the food industry increases.

Market Dynamics

Expanding Food Industry Applications and Product Innovations Driving the Pulse Ingredients Market Growth

The versatility of pulse ingredients in food applications is driving the market's growth. Manufacturers are continuously innovating and developing new products, such as pulse flours and pulse starches, to address the demand for gluten-free and healthier options. Additionally, the incorporation of pulse fibers in various food products promotes digestive health and improves the nutritional content of the products.

As the food industry explores and embraces pulse-based ingredients in diverse culinary creations, the pulse ingredients market trend continues to grow, expanding the pulse ingredients market size and driving overall pulse ingredients share in the food industry. Moreover, the increasing consumer awareness of the sustainable and eco-friendly nature of pulse ingredients further propels market growth.

Favorable Government Policies and Supportive Initiatives Propelling the Pulse Ingredients Market Growth

Government initiatives promoting sustainable agriculture and investments in research and development of pulse-based ingredients have played a vital role in the growth of the pulse ingredients market. Various countries in the Asia-Pacific region, for instance, have implemented policies to encourage pulse production and consumption due to their nutritional benefits and positive impact on farmers and the environment.

Subsidies, grants, and awareness campaigns by governments further stimulate the market trend, incentivizing farmers and food producers to invest in pulse-based products. As a result, the pulse ingredients market has seen significant expansion, as favorable government policies and support drive the market's size and share across the Asia-Pacific region.

Supply Challenges Pose Restraints on Growing Pulse Ingredients Market

One restraint of the pulse ingredients market is the relatively limited availability and fluctuating supply of pulses. As the demand for pulse-based products continues to rise, there might be challenges in meeting the increasing requirements for sourcing raw materials. Factors like weather conditions, crop yields, and variations in planting patterns can lead to fluctuations in pulse production, impacting the stability of the supply chain.

Additionally, pulses are cultivated in specific regions, which might result in transportation and distribution challenges to reach global markets efficiently. These supply constraints can affect the pricing of pulse ingredients and create uncertainties for manufacturers and consumers alike. Addressing these supply-related issues will be crucial to ensuring the sustainable growth and stability of the Pulse Ingredients market.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global pulse ingredients market has been segmented by product type, source, application, and region.

Peas Dominate Pulse Ingredients Market with High Demand for Protein-rich Products

The highest share-holding segment in the pulse ingredients market is the ""Peas"" category, accounting for approximately 30% of the market. Peas are a popular source of pulse concentrates and isolates, which are ingredients derived from separating protein and fiber from the whole pea. These concentrates and isolates are rich in plant-based protein and find extensive use in various food products, especially in the booming plant-based protein industry.

Additionally, pea starch is another essential component obtained from peas, widely utilized as a gluten-free and non-GMO thickening and stabilizing agent in the food industry. Besides pea-based ingredients, ""chickpea flour"" is also a significant player in the market, appealing to consumers seeking gluten-free alternatives in baking and cooking.

Geographical Analysis

Asia Pacific Emerges as a Growing Force in the Pulse Ingredients Market

By region, the global pulse ingredients market is segmented into North America, South America, Europe, Asia-Pacific, Middle-east, and Africa.

The Asia-Pacific region's pulse ingredients market is experiencing robust growth, driven by the rising demand for pulse-based products such as pulse flours, pulse proteins, pulse starches, and pulse fibres. As consumers in the region prioritize healthier and sustainable food choices, pulse ingredients have gained popularity due to their nutritional benefits and eco-friendly attributes.

Pulse flour is utilized in traditional Asian cuisines to enhance the nutrient content of dishes, while Pulse Proteins appeal to the increasing interest in plant-based protein sources. Pulse starches are sought after for their gluten-free properties, catering to consumers with dietary restrictions. Moreover, pulse fibers are being incorporated into various food products to support digestive health. The Asia-Pacific market's recognition of the value and versatility of pulse ingredients is expected to propel further growth in the region.

Competitive Landscape

The major global players in the market include AGT Food and Ingredients Inc, Archer Daniel Midland Company, The Scoular Company, Dakota Dry Bean, Puris Foods, Emsland Groups, Axiom Foods, Estelle Chemicals, Ingredion Inc, and Anchor Ingredients.

Why Purchase the Report?
• To visualize the global pulse ingredient market segmentation based on type, source, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of pulse ingredient market-level with all segments.
• The PDF report consists of a cogently put-together market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The global pulse ingredient market report would provide approximately 61 tables, 60 figures, and 190 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies