Global Pulse Ingredients Market 2024-2033: Growth Trends and Market Outlook by TBRC

The pulse ingredients market size has grown strongly in recent years. It will grow from $19.93 billion in 2023 to $21.1 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to diversification in food applications, public education initiatives, culinary diversity and ethnic foods, rising food security concerns, international trade and market accessibility, allergen-free alternatives.

The pulse ingredients market size is expected to see strong growth in the next few years. It will grow to $26.45 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to rising demand for plant-based proteins, health and wellness trends, expansion in vegan and vegetarian diets, sustainable food choices, clean label and natural ingredients. Major trends in the forecast period include protein fortification, gluten-free and allergen-free alternatives, snackification of pulse-based products, innovative product development, functional food applications.

Market Overview -
Pulse ingredients are powders made from portions of high-quality lentils, chickpeas, peas, and faba beans. The pulse ingredients are used to improve food's functioning and nutritional value while improving its natural flavour, taste, and colour.

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Surging Demand For Plant-Based And Gluten-Free Options Drives Growth Of Pulse Ingredients Market
The increasing demand for plant-based and gluten-free products is expected to boost the growth of the pulse ingredients market. Plant-based products are finished products composed of plant ingredients, such as fruits, vegetables, whole grains, nuts, seeds, and legumes. Gluten-free food items are free of gluten protein, which is present in grains including wheat, barley, and rye. Due to the COVID-19 outbreak, consumer behaviour has substantially shifted in favour of plant-based food and healthier meals to boost immunity, which helps fight the virus. For instance, in September 2021, according to the Plant Based Foods Association, a trade organization that represents the interests of plant-based food companies, plant-based foods in the United States increased by 27% in 2020 and reached to a record value of $7.4 billion. Plant-based food spending increased from 53% in 2019 to 57% in 2020, meaning over 71 million families of all U.S. households preferred plant-based foods. Therefore, the increasing demand for plant-based and gluten-free products is driving the growth of the pulse ingredients market.

Competitive Landscape -
Major companies operating in the pulse ingredients market report are Ingredion Incorporated, AGT Food and Ingredients Inc., Emsland-Starke GmbH, The Scoular Company, Roquette Frères S.A., Cosucra Groupe Warcoing S.A., Vestkorn Milling A.S., Dakota Dry Bean Inc., SunOpta Inc., Axiom Foods Inc., DeLaval International AB, GEA Group Aktiengesellschaft, BouMatic LLC, Best Cooking Pulses Inc., Blue Ribbon LLC, Bühler AG, Cargill Inc., Diefenbaker Spice & Pulse, Puris Proteins LLC, ETG Commodities Inc., Gavilon Group LLC, JBS USA Holdings Inc., Kellogg Company, MGP Ingredients Inc., Parakh Agro Industries Ltd., The Archer Daniels Midland Company, The Green Labs LLC, The TradeLink International Group Ltd., The Whitworths Group Limited, Great Western Grain Co. Ltd.

Strategic Partnerships Drive Innovation In The Pulse Ingredient Market
Strategic partnership and collaboration is key trend gaining popularity in the pulse ingredient market. Major companies in the market are entering into partnerships and collaborations to expand their market and leverage each other's resources. For instance, in June 2022, Bühler Group, a Switzerland-based plant equipment manufacturer, entered into a partnership with Endeco. The partnership aims to advance pulse processing, satisfy the rising need for substitute protein sources, and provide pulse processing solutions with much lower CO2 emissions. Endeco is a Germany-based company specialising in starch, protein plants, and processing technologies. Additonally, in June 2021, Bühler Group also partnered with Hosokawa Alpine Group. The partnership aims to boost and improve the manufacturing of more healthy and sustainable plant protein solutions and offer clients the maximum green price chain for pulses being processed into protein ingredients. Hosokawa Alpine Group is a Germany-based machinery manufacturer specialising in powder, particle processing, and blown film.

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Key Segments -
The pulse ingredients market covered in this report is segmented -
1) By Type: Pulse Flour, Pulse Starch, Pulse Protein, Pulse Fibers and Grits
2) By Source: Lentils, Peas, Chickpeas, Beans, Other Sources
3) By Application: Food and Beverages, Feed, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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