Exploring the Growing Pulse Ingredients Market: Trends, Opportunities, and Challenges

by Mit K. SEO

Market Size

The pulse ingredients market size was estimated at USD 20.7 billion in 2022 and to reach USD 25.9 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 4.6% in terms of value.

Market Growth

The pulse sector is undergoing dynamic changes at global, regional and country levels, to meet the challenge of growing demand in face of sluggish production growth. Projections indicate that demand for pulse ingredients will continue to grow in the short-to-medium term in developing counties due to growing population and rising per capita income. Pulse ingredients can play a major role in providing consumers with an alternative protein source.

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Market Drivers:

The pulse ingredients market is primarily driven by several factors including the increasing demand for plant-based protein sources, growing awareness about the health benefits of pulses, and the rising trend of clean label food products. Additionally, the shift toward vegetarian and vegan diets, particularly in developed countries, has created a significant demand for pulses as a source of protein.

Furthermore, the versatility of pulse ingredients and their ability to enhance the texture and nutritional value of food products has also contributed to the growth of the pulse ingredients market. Pulses are used in a wide range of applications such as snacks, bakery products, beverages, and meat substitutes, among others.

Market Opportunities:

The demand for pulse ingredients is driven by an increase in processed and convenience foods production. Emerging economies such as India and China, in the Asia Pacific region, are exhibiting high growth. The Asia Pacific region also provides a cost advantage in terms of production and processing. High demand, coupled with low cost of production is a key feature, which will aid pulse ingredients suppliers and manufacturers in targeting this market.

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Regional Analysis:

Interest in pulses as a sustainable food source has expanded significantly. They are low in fat, high in nutrients, protein and soluble fiber. Because pulses do not contain gluten, they are acceptable for gluten-free diets for people with celiac disease and gluten intolerance. Pulses' high nutritional value makes them great food, especially in areas where access to meat and dairy products is difficult due to economic, distribution, and marketing barriers.

Japan is also one of the potential markets for pulse ingredients due to its large geriatric population base. This is expected to fuel the demand for protein-enriched food products, thereby boosting the sales of pulse ingredients. Thus, the Asia Pacific region is expected to generate high demand for pulse ingredients in the coming years owing to the large population base and developing economies shifting toward plant-based ingredients.

Key Market Players:

The key players in this market include DeLaval (Sweden), GEA Group Aktiengesellschaft (Germany), Lely (Netherlands), Trioliet B.V. (Netherlands), VDL Agrotech (Netherlands), ScaleAQ (Norway), BouMatic (US), Pellon Group Oy (Finland), Rovibec Agrisolutions (Canada), CTB, Inc. (US), Afimilk Ltd. (Israel), Dairymaster (US), Maskinfabrikken Cormall A/S (Denmark), HETWIN Automation System GmbH (Austria), and JH AGRO A/S (Denmark).

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About Mit K. Committed   SEO

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Joined APSense since, August 8th, 2019, From Northbrook, United States.

Created on Apr 17th 2023 03:18. Viewed 89 times.


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