Pulses ingredients have a low glycaemic index and high protein content, which makes them ideally suited for diabetic patients and other ailing ones. It is also gluten-free and can be consumed by people with gluten intolerance. Rise in the incidence rate of celiac disease and high number of consumers switching to a gluten-free diet is proving beneficial for the growth of the market. Additionally, pulse ingredients are enriched with vitamin B complex, magnesium, calcium, iron, and potassium. Consumers are demonstrating heightened inclination towards healthy food ingredients and realizing the traction in the market, food manufacturers are progressively incorporating healthy pulse ingredients into food items, which is also augmenting the market growth.
Pulses ingredients, as the name suggests, are functional ingredients derived from pulses. They are increasingly gaining grounds among consumers' diets as they have a rich nutritional profile. Market Research Future (MRFR) has launched an in-depth report on the global pulses ingredients market overview and has deemed the market to capture a steady CAGR over the forecast period of 2020-2030.
Pulses Ingredients Market size is projected to reach approximately USD 25.22 billion by 2030, at a CAGR of 4.39% from 2020 to 2030.
One category of ingredients that is being increasingly used in animal feed and pet food products are pulses. They are real nutrients, and their nutritional profiles are very different from grains and are suitable for animal consumption. Rising usage in animal products is also likely to augur the market growth.
Competitive Landscape
Archer Daniels Midland Company (US), SunOpta Inc. (Canada), Roquette Frères (France), Cosucra Groupe Warcoing SA (Belgium), Dakota Dry Bean (US), Diefenbaker Spice & Pulse (Canada), Emsland Group (Germany), The Scoular Company (US), Ingredion Incorporated (US), and Axiom Foods Inc. (US) are the key players in the pulses ingredients market.
Segmentation
The pulses ingredients market has been segmented based on type, source, and application.
By type, the pulses ingredients market has been segmented into pulses flours, pulses starch, pulses proteins, and others. Type-wise, the pulses flour segment dominates the market. Pulses flour are gluten-free, high in protein, and soluble & insoluble dietary fiber. Pulses flour is being increasingly used across bakery & confectionery, RTE and RTC food industries, which is generating huge demand within the market. The pulses flour segment is anticipated to be the fastest growing segment as well.
By source, the pulses ingredients market has been segmented into lentils, peas, beans, chickpeas, and others. The chickpea segment accounts for the largest share of the market. Easy availability of chickpeas and its usage in various food items can be credited for the growth of the market. Moreover, chickpea is easily available and affordable. Additionally, it is gluten-free. The chickpea segment is likely to capture the highest CAGR over the forecast period.
By application, the pulses ingredients market has been segmented into food & beverage, animal feed, and others. The food & beverage segment has further segmented into bakery and confectionery; sauces, dressings, and spreads; RTE and RTC foods, and others. The food & beverage segment is dominating the market while the animal feed segment is expected to demonstrate the highest CAGR over the forecast period. The addition of pulses ingredients is proven to aid digestion of animals.
Regional Analysis
Region-wise, the pulses ingredients market has been segmented into North America, Rest-of-the-World (RoW), Asia Pacific (APAC), and Europe.
APAC is dominating the global pulses ingredients market trends. An established agriculture industry is supporting the growth of the market. Moreover, the consumption of pulses ingredients is indigenous to the region and the level of awareness regarding the same is also high.
The Europe pulses ingredients market is driven by rapidly expanding F&B industry in the region and growing usage of pulses ingredients in animal feed.
Surging health consciousness among consumers in North America has resulted in towering demand for functional food ingredients such as pulses flours. The level of health consciousness is elevated in the region due to which the consumption of pulses ingredients has witnessed a surge. Moreover, rise in the occurrence of celiac disease in the region is also supporting the growth of the market. Moreover, the region has a considerable presence of major market players, which supports the growth of the market. North America pulses ingredients market is expected to exhibit the highest CAGR over the forecast period.
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