Market Forecast:
Growing preference for Pulse Flour is increasing the growth of the market owing to its several benefits associated with the consumption. Also, health benefits connected with the consumption such as maintenance of blood sugar levels, improved digestion, and weight management have strengthened the use of pulse flours in the food beverage, and functional food industry. Additionally, increased preference for green-label food beverage products has surged the demand for pulse flours in the global market.
Increasing awareness regarding healthy products among the consumers is adding fuel to the growth of the global pulse flour market. Furthermore, increasing demand for gluten-free products by gluten-resistant consumers is likely to increase the global pulse flours market over the review period. Additionally, pulse flours used in food and beverage products have a long shelf-life which has uplifted the demand for pulse flours in the food beverage industry. However, poor taste and olfactory properties, and fluctuating prices of pulses at global level are likely to hamper the market growth over the forecast period. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 12.5% of pulse flours market size during the forecast period 2023-2030.
Market Overview:
Pulse flours are powdered material, which are prepared by grinding dried pulses such as bean, chickpea, lentil, pea, and others. These flours are used in the preparation of food, beverages, and functional foods owing to its therapeutic importance. Pulse flours are rich in proteins, vitamins, minerals, and carbohydrates, and also contain high amount of dietary fiber. Additionally, these flours are widely used in enhancing products taste and aroma.
Downstream Analysis:
Pulse flours are segmented on the basis of type, which includes bean, chickpea, lentil, pea, and others. Chickpea hold the major market share followed by lentil owing to several health benefits, such as maintenance of blood glucose level, improved digestion, and weight regulation.
On the basis of the application, pulse flours market is segmented into beverages, bakery products, savory snacks, meat products, and others. Among all the applications, application in bakery products is dominating in the global market owing to high use of pulse flours in bakery confectionary products.
On the basis of the distribution channel, the market is segmented into the store-based and non-store based distribution channel. However, the store-based distribution channel is dominating the market based on the one-stop shopping experience.
Competitive Analysis:
The major players in pulse flours market
- Archer Daniels Midland (U.S.)
- SunOpta (Canada)
- Ingredion Incorporated (U.S.)
- The Scoular Company (U.S.)
- Batory Foods, Inc. (U.S.)
- Anchor Ingredients Co., LLC (U.S.)
- Blue Ribbon, LLC (U.S.)
Regional Analysis:
The global pulse flours market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific is dominating the global pulse flours market followed by North America. Asia Pacific is dominating the pulse flours market followed by North America. India accounted for a higher consumption of pulse flours owing to increasing awareness about the benefits of consuming pulse flours products. Additionally, improved agricultural growth trailed by innovations in the food processing and food service industry is considered to be the key driving factor in this region.
Moreover, increasing demand for organic and green label convenience foods products in North American countries like the U.S. and Canada are likely to boost the growth of the pulse flours market during the assessment period. Furthermore, ongoing RD activities to eliminate unpleasant smell and flavors from the pulse flours are likely to raise the growth of the pulse flours market.
Market Segmentation:
Pulse flours market is segmented on the basis of type, application, distribution channel and region.
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