2024 Pulse Flour Market Report : Market Size, Growth Drivers, And Key Trends

"The Business Research Company recently released a comprehensive report on the Global Pulse Flour Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The pulse flour market size has grown rapidly in recent years. It will grow from $9.9 billion in 2023 to $11 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to rising health and wellness, growing gluten-free and allergen-free attributes, rising prevalence of dietary, growing demand for sustainable food products, expanding use of pulse flours in food processing applications, increasing food service industry.

The pulse flour market size is expected to see strong growth in the next few years. It will grow to $15.95 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to rising demand for gluten-free and healthy food products, growing awareness of the health benefits of pulses, government support for pulse production and consumption, . Major trends in the forecast period include innovation in the pulse flour industry, digital health technologies in pulse flour-based product development, product innovations, partnerships.

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Market Drivers and Trends:

The rising demand for the food service industry is expected to propel the growth of the pulse flour market going forward. The food service industry refers to a sector of the economy that involves preparing, distributing and selling food and beverages to consumers outside their homes. Pulse flour, made from pulses (the dry, edible seeds of legume plants), has gained popularity in the food service industry due to its numerous benefits and versatility, providing meals and food products with unique and valuable qualities. For instance, in July 2023, according to a report published by the United States Department of Agriculture, a US-based federal agency, about $2.11 trillion in food was provided globally by the food service and retail sectors in 2021 and $2.39 trillion in 2022, an increase of $0.28 trillion. Further, global food service establishments provided $1.16 trillion in 2021 and $1.34 trillion in 2022. Therefore, the rising demand for the food service industry will drive the growth of the pulse flour market.

Major companies operating in the pulse flour market are innovating new products, such as Prista to sustain their position in the market. Prista flour is a line of gluten-free flour designed to be used as a wheat flour substitute. For instance, in September 2021, Ingredion Incorporated, a US-based food and beverage ingredients company, launched Prista, a range of flours and concentrates made from pulses. The new range consists of Vitessence Prista P 360 fava bean protein concentrate, Vitessence Prista P 155 pea protein concentrate and Homecraft Prista P 101 pea flour. Manufacturers may create items like fast drinks and ready-to-eat foods, where low microbial levels are essential, using pulse flours and concentrates.

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Major Key Players of the Market:

Cargill Incorporated, The Archer-Daniels-Midland Company, Bunge Limited, Ingredion Incorporated, Ardent Mills, Groupe Limagrain Holding SA, Blue Ribbon LLC, SunOpta Inc., Minsa Corporation, The Scoular Company, Bob's Red Mill Natural Foods Inc., The Buhler Holding AG, Batori Foods Inc., Carrs Flour Mills Limited, Grain Millers Inc., AGT Food & Ingredients, Agspring, Puris Proteins LLC, Anchor Ingredients Co. LLC, Doves Farm Foods Ltd., Vestkorn Milling AS, Bean Growers Australia Ltd., Best Cooking Pulses Inc., Avena Foods Limited, The TradeLink International Group, Diefenbaker Spice and Pulse (DSP), Great Western Grain Co. Ltd.

Pulse Flour Market 2024 Key Insights:

• The Pulse Flour Market is expected to grow to $15.95 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
• Food Service Industry's Booming Demand Fuels Growth In The Pulse Flour Market
• Innovative Products Such As Prista Flour Drive Market Position For Major Pulse Flour Companies
• North America was the largest region in the pulse flour market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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