Pulse Ingredients Market Analysis | 2024-2030

Market Insights

“The pulse ingredients market was estimated at USD 22 billion in 2023 and is likely to grow at a CAGR of 4.5% during 2024-2030 to reach USD 30 billion in 2030.”

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Market Dynamics

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

Recent Market Partnerships:

A good number of strategic alliances including M&As, JVs, partnerships, etc. have been performed over the past few years:

In November 2020, Ingredion Inc., Ingredion Plant Based Protein Specialties (Canada) Inc., Verdient Foods Inc., T Base 4 Investments and O.M.D. Food Products partnered to commercialize new technology to improve pulse-based ingredients' functionality. Initially focusing on yellow peas, the partners used physical processing techniques to turn the commodities into ingredients available to food processors and manufacturers in Canada and internationally.

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Key Players

The market is highly fragmented with the presence of over 500 players across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the pulse ingredients market.

Here is the list of the Top Players (Alphabetically Arranged)

• BouMatic
• CTB, Inc.
• DeLava
• GEA Group Aktiengesellschaft
• Lely
• Pellon Group Oy
• Rovibec Agrisolutions
• ScaleAQ
• Trioliet B.V.
• VDL Agrotech

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Type

“Pulse flour is expected to be the demand generator whereas pulse protein is likely to grow at the fastest rate in the coming years.”.

Pulse flours are promoted and marketed as healthier than conventional wheat flour because of the higher protein content and greater levels of soluble and insoluble fiber, in addition to their stability of RS inertia. While there is more consumer knowledge regarding health and nutrition and the need to consume healthier products. In addition, processors have started to adopt pulse flours as they are made from natural products and it is cheaper than similar additives such as gums, etc. This is a direct indication of other consumer trends for ‘clean’ food products which are listed as containing recognizable and healthy ingredients.

By Source Type

“The chickpeas hold the major market share and are projected to retain the leading position throughout the forecast period”.

In November 2023, Israel-based ChickP announced the launch of a chickpea protein isolate with 90% pure chickpea protein content. The product is ideal for plant-based cheese products, providing high protein content while maintaining taste and texture.

General Mills, a key player in the food ingredient industry, is experimenting with the transformation of non-soy legumes like chickpeas into a substance referred to as liquefied legume material. This innovative material is intended to serve as a legume-based alternative to dairy milk in products, such as cheese or yogurt, and it can also function as an egg substitute in mayonnaise and dressings. In response to the high demand, several companies are launching chickpea-based ingredients.

By Application Type

“Food & Beverages is anticipated to contribute a larger share and is likely to grow at the faster rate”.

The main target that exactly fulfills the needs of the market is the population who uses food and beverages continuously in a day from any background of demographic culture in the market. Another role that has been immensely significant in boosting the products has been the role of food processing and packaging whereby access to and preservation of such products has been made easier. Furthermore, the greater-than-expected demand for fast foods and other ready-to-drink beverages has also proven beneficial to this segment. By application of the managerial practices that place emphasis on the desires of the consumer who purchases the food and beverage products and the ease with which they are presented for the consumption of the user with the market for food and beverages has been expanded.

Regional Insights

“Asia-Pacific is projected to account for the majority of the share in the global market”.

Japan is one of the potential pulse ingredients markets 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.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s pulse ingredients market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The pulse ingredients market is segmented into the following categories.

By Type

• Pulse Flour
• Pulse Starch
• Pulse Proteins
• Pulse Fibers
• Grits

By Source Type

• Lentils
• Peas
• Beans
• Chickpeas

By Application Type

• Food & Beverages
• Feed

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com