Global Pulses Market to Surpass US$ 100 Bn by 2030

Future Market Insights (FMI) has anticipated the global pulses market to surpass a revenue threshold of US$ 100 Bn by the end of the 2020-2030 forecast period, in its recently published report.

Pulses help reduce cholesterol and triglyceride levels within the human body. Due to this, they are extensively consumed across the world. The projections for pulses remain bullish, with a new analysis by Future Market Insights estimating 4.9% CAGR through 2030. A slight deceleration is anticipated in the short-run due to the coronavirus pandemic.

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FMI opines the market is slated to scale new heights amid heightening demand for fiber-rich and nutrient infused foodstuffs. Recent years have seen an upsurge in the availability of pulse based instant foods. Pulses are known to reduce cholesterol and triglyceride levels, thus enhancing life expectancy.

After taking the COVID-19 pandemic into consideration, growth prospects for the global pulses market appear largely optimistic, with sluggishness staving off due to relaxation of lockdowns.

Key Takeaways from FMI’s Pulses Market Report

APEJ to represent lucrative growth opportunities, generating nearly 60% of revenue
Dried beans to enjoy widespread popularity, attributed to the presence of vital micronutrients
Demand for organic pulses experiencing northward shift, expanding at a CAGR exceeding 7%
E-commerce to register staggering growth, owing to rising dependence on virtual platforms amid the pandemic crisis
Pulse flour acquiring ascending popularity due to widespread applications in preparing various foods
Global pulses market to expand at 4.9% value CAGR across the assessment period

“Growing awareness about health benefits is prompting governments to accelerate pulses production, encouraging food manufacturers to concentrate their operations in prominent pulse producing countries,” comments the FMI analyst.

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COVID-19 Impact Insights

As the COVID-19 pandemic tightens its grip around the world, the global pulses market has experienced minor deceleration. This has mostly resulted due to constraints in logistical arrangements to transport finished products from the producer to the market. Fortunately, this setback is gradually eroding with lockdown restrictions easing.

Moreover, growth of the pulses market is largely being sustained by e-commerce channels, despite conventional retail outlets resuming operations. Voluntary social distancing measures adopted by consumers is driving this purchasing behavior. Nowadays, consumers are relying on platforms such as Big Basket, Amazon and Grofers to purchase pulses.

Furthermore, the trend of healthy eating has also picked up pace, with consumers hoping to strengthen their immunity by eating fiber, nutrient and vitamin rich foodstuffs. Therefore, growth prospects of the global pulses market appear largely optimistic throughout the 2020-2030 assessment period.

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Competitive Landscape

Prominent players in the global pulses landscape are concentrating on introducing innovative and customized products based on customer-specific requirements, strategic collaborations, partnerships and ventures.

For instance, in 2017, Danone acquired WhiteWave, a prominent plant-based food & beverages manufacturer with the objective of expanding its own range of plant-based foods and beverages. This acquisition has helped Danone realize its commitment to uphold consumer expectations of healthy and sustainable food choices.

In 2008, General Mills Inc. introduced a wide spectrum of gluten-free cereals within its product portfolio. These cereals are primarily made from non-gluten containing sources such as pumpkin seeds, peanuts, corn, pulses, berries and other fruits & vegetables.

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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth.

This release was published on openPR.