The global pulse flour market size is expected to reach US$ 90.6 Mn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at X% CAGR between 2019 and 2029. According to the report, rising market demand for pulse flours is on the rise due to its many food-related benefits. The study provides a detailed analysis of the industry, covering key drivers of growth, restraints, opportunities and dominant trends. This uses innovative analysis techniques to provide industry analyzes with the most precision.
- The total market value was 34 million US dollars in 2019. The market is exhibited during the report’s forecast period to display a steady pace of growth.
- Asia Pacific dominates the demand for pulse flours led by North America.
- Growing recognition of the benefits of consuming pulse flour products makes India a leading consumer of pulse flours.
- High demand from the food & beverage industry for natural and balanced ingredients is projected to fuel the global market for pulse flours over the review period.
- Higher cultivation of pulses, growing advancement in agriculture along with newer opportunities and advancements in the food processing industry has been some of the key factors that have boosted overall demand for pulse flour.
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“To remain competitive in developed markets, key players should possibly concentrate on product innovations. In addition to this, they are likely to focus on expanding their geographic reach and strengthening their portfolio to gain competitive edge in the market,” said a lead analyst at FMI.
Despite Focus on Health Benefits, Change in Consumption Pattern Due to COVID-19 Outbreak will Impact Growth
Growing market demand for pulse flours is on the rise due to its numerous health-related benefits. Pulse flours are low in fat content and contain fiber and protein which has shown a boundless tendency towards the products of pulse flours. In addition, the therapeutic benefits associated with consumption such as controlling blood sugar levels, enhanced digestion, and weight control have increased the use of pulse flours in the food & beverage and functional food industry. In addition, increased preference for food & beverage green label products has increased global consumer demand for pulse flours.
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Novel coronavirus also known as COVID-19 poses a significant threat to human life. It has already affected millions across the globe and many have succumbed to the disease. As healthcare workers around the globe are heroically battling the epidemic, governments and different businesses have come together to address the problem as well as the risks to the economy that are looming. Several advances have occurred since the pandemic struck and have had considerable impact on the food industry. Such innovations, it goes without saying, would have a profound effect on the operations of any single company in this field.
Who is Winning?
Some key players in the global pulse flour market are Parakh Agro Industries Ltd., CanMar Grain Products, Best Cooking Pulses, Diefenbaker Spice & Pulse, Globeways Canada, Bean Growers Australia, Agspring, Blue Ribbon, Great Western Grain, Batory Foods, Anchor Ingredients, Archer Daniels Midland, EHL Limited, SunOpta, ADM, The Scoular Company, and Ingredion, among others. Due to the existence of a variety of large- and small-scale firms with little product differentiation, the pulse flours market is characterized by medium to high competition. New product releases, acquisitions, and extensions are key tactics these companies have embraced to ensure their market growth.
Get Valuable Insights into Pulse Flours Market
Future Market Insights, in its new report, presents an unbiased analysis of the global pulse flour market, covering historical demand data and forecast figures for the period between 2019 and 2029. The study divulges compelling insights into growth witnessed in the market. On the basis of type, the pulse flour market is segmented into beans, broad beans, peas, chickpeas, lentils, lupins, and others. On the basis of the application, the pulse flours market is segmented into beverages, bakery products, savory snacks, meat products, and others. Regionally, the market can be segmented into North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA.
About the Food & Beverage Division at Future Market Insights
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.