Pulse Flour MarketIncreasing Health Benefits Associated With Pulse Flour Consumption Is a Significant Factor Driving the Pulse Flour Market.
Pulse Flour Market size is estimated to be $16.67 billion in 2020, growing at a CAGR of 11.3% during the forecast period 2021-2026. Pulse flour are made from pulses which are the edible seeds of legumes such as canned or dry beans, chickpeas, lentils, lupin, bean and multiple varieties of peas. Moreover, pulse flours contain much greater amount of protein and fiber than brown rice flour, a key ingredient in most gluten-free baked goods. Also, pulse flour has a higher level of micronutrients including folate and iron making them a natural choice for the consumers who wants to optimize their nutrients on a gluten-free diet. Growing vegan population and the increasing awareness among consumers regarding health benefits associated with its consumption is a vital factor contributing to its market growth. Besides this, the wide application of pulse flour in bakery & snacks, dairy products, meat products, beverages and others are also another factor contributing to its market growth. Furthermore, the increasing health benefits associated with its regular consumption such as reducing the risk of heart disease, diabetes and certain types of cancer is a significant factor for its consumption among the people which in turn is fueling its market growth in the upcoming years.
Pulse Flour Market Segment Analysis - By Type
By Type, the Pulse Flour Market is segmented into Pea, Chickpea, Bean, Lentil and Others. Pea segment held the largest market share in terms of revenue in the year 2020 owing to its various health benefits as it is high in fiber, protein, antioxidants and low in fat. In addition, peas are good source of vitamins C, E and zinc that strengthens the immune system. Other nutrients such as vitamin A and B and coumetarols help reduce inflammation and lower the risk of chronic conditions including diabetes, heart disease and arthritis. Therefore, the growing number of people suffering from various health disease and large intake pea flour is a vital factor contributing to its segmental growth. Also, chickpea segment is projected to witness growth at fastest CAGR of 12.8% in forecast period 2021-2026 owing to the increasing use of chickpea flour in many recipes and also in sauces or curries to thicken it.
Pulse Flour Market Segment Analysis - By Application
By Application, the Pulse Flour Market is segmented into Bakery & Snacks, Dairy Products, Meat Products, Beverages, Animal Feed and Others. Bakery & Snacks segment held the largest market share in terms of revenue in the year 2020 owing to the wide usage of pulse flour in bakery and snacks. In bread, pastry and cake products the functional pulse flours offer better hydration and improve softness while nutritionally enriching the products. In addition, in extruded products such as snacks and cereals they help control expansion, to better the define the shape of the extrusion while improving crispness. Hence, the rising usage of pulse flour in these products is a vital factor contributing to its market growth. Besides this, the development by the key players in order to expand their product portfolio is another vital factor contributing to its market growth. For instance, in August 2016 Warburtons collaborated with Canadian International Grains Institute in a research project designed to increase the use of pulse-based flours. Also, beverages segment is projected to witness growth at fastest CAGR of 11.9% in forecast period 2021-2026 owing to the increase application in the beverage industry in smoothies, protein drinks and others.
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Pulse Flour Market Segment Analysis - By Geography
APAC contributed to the largest market share of 40% in 2020 in terms of revenue owing to the large-scale production of pulses in that region. For instance, India is the largest producer, consumer and importer of pulses in the world. Pulses account for around 20 percent of the area under food grains and contribute around 7-10 percent of the total food grains production in the country. North America Pulse Flour Market is another dominant market owing to the increasing awareness among consumers regarding the health benefits associated with its consumption coupled with large number of people suffering from chronic disease. According to the Centers for Disease Control and Prevention 6 in 10 adults in the U.S. suffers from chronic disease.
Pulse Flour Market Drivers
Increasing Health Benefits Associated with Pulse Flour Consumption
Increasing health benefits associated with pulse flour consumption is a significant factor driving the Pulse Flour Market during the forecast period 2021-2026. Moreover, pulse flour provides protein and fibre a significant source of vitamins and minerals such as iron, zinc, folate, magnesium and consuming half of beans and peas per day enhances the diet quality by increasing intakes of these nutrients. Pulse consumption also improves serum lipid profiles and positively effects several other cardiovascular disease risk factors such as blood pressure, platelet activity and inflammation. Therefore, these are the key benefits propelling the demand of the Pulse Flour Adoption Trends 2019 in the future.
Increasing Use of Pulse Flour in Meat Products
Increasing use of Pulse Flour in meat products is a major driving the Pulse Flour Market during the forecast period 2021-2026. Moreover, pulse flour is an innovative ingredient that is added as binders to commuted meat products to bind water, reducing cooking loses, increasing cooking yield and contributing to mouthfeel and other sensory attributes. Therefore, increasing health benefits offered by pulse Flour coupled with the rising use of pulse Flour in meat products is a significant factor driving its market growth in the upcoming years.
Pulse Flour Market Challenges
Fluctuation in the Prices of Pulse Flour
Fluctuation in the prices of Pulse Flour serves as a major setback for the growth of the Pulse Flour Market during the forecast period 2021-2026. Owing to its fluctuating prices the consumers usually don’t prefer to purchase it which in turn is restraining its market during the forecast period 2021-2026.
Pulse Flour Market Industry Outlook
Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in Pulse Flour Market. Pulse Flour Market top 10 are Ingredion Incorporated, Archer Daniels Midland Company, Blue Ribbon, The Scoular Company, Anchor Ingredients, Great Western Grains, Best Cooking Pulses, Bean Growers Australia, Diefenbaker Spice & Pulse, EHL Limited.
January 2020: Nutriati and PLT collaborated to launch textured pulse protein for plant-based protein in order to upgrade its product taste.
Pea segment held the largest market share in the year 2020 owing to its various health benefits as it is high in fiber, protein, antioxidants and low in fat.
Bakery & Snacks segment held the largest market share in the year 2020 owing to the wide usage of pulse Flour in bakery and snacks.
APAC contributed to the largest market share of 40% in 2020 owing to the large-scale production of pulses in that region.
Increasing health benefits associated with pulse flour consumption is a significant factor driving the Pulse Flour Market during the forecast period 2021-2026.
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