The global Pulses market is estimated to be worth USD 78.0 billion in 2024 and is projected to reach a value of USD 135.2 billion by 2034, expanding at a CAGR of 5.7% over the assessment period of 2024 to 2034.
Pulses are a type of legume that includes beans, lentils, peas, and chickpeas. They are small, round, or oval seeds that grow in pods. Pulses are rich in protein, fiber, vitamins, and minerals, which makes them a healthy food option. Pulses are also important for the environment because they help improve soil health by adding nitrogen back into the ground.
Growing urbanisation, higher disposable incomes, and a strong desire for nutritious ready-to-eat and processed meals are driving growth. Furthermore, the concentration of a huge population base in India and China is increasing demand for nutritious food, leading to an increase in overall pulse production.
Pulses help to lower cholesterol and triglyceride levels in the human body. As a result, they are frequently consumed worldwide. In the short term, the coronavirus pandemic was predicted to create a minor delay. Despite a little slowdown caused by COVID-19, economic expectations remain generally optimistic.
As concerns over excessive meat consumption on human health dawn on consumers, they are seeking healthier alternatives. Resultantly, the market for pulses is witnessing a notable upsurge nowadays. Furthermore, the trend of healthy eating has augmented, 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.
Landscape for the Pulses Market
Nestle SA, Groupe Danone, Reckitt Benckiser Group Plc (RB), Abbott Laboratories Inc., Vitasoy International Holdings Ltd, Inner Mongolia Yili Industrial Group Co Ltd., Coca-Cola Co, General Mills Inc., Blue Diamond Growers, Kikkoman Corporation, Dr. Schär AG/SpA, Lactalis Groupe, Valio Oy, Post Holdings Inc., and Monde Nissin Corp. among others are some of the major players in the global pulses market.
Market players can face stiff competition from alternative protein sources such as soybeans, hemp, flax, nuts, and oilseed. In most countries, the price of pulses is also phenomenally high limiting their consumption, particularly in developing economies.
This is generally attributed to the presence of interim entities who seek to profit from the pulses trade and commerce. However, nowadays, consumers rely on platforms such as Big Basket, Amazon, and Grofers to purchase pulses. Moreover, growth is largely being sustained by e-commerce channels, despite the significant presence of conventional retail outlets.
Key Segments in the Pulses Industry Report
By Product Type:
- Dry Beans
- Lentils
- Faba Beans
- Dry Peas
- Chickpeas
- Cowpeas
- Bambara Beans
- Pigeon Peas
- Vetches
- Others
By Nature:
- Organic
- Conventional
By Form:
- Whole Pulses
- Flour Pulses
- Split Pulses
By End Use Application:
- Business to Business
- Food & Beverage Industry
- Pharmaceutical Industry
- Cosmetic Industry
- Nutraceutical Industry
- Animal Feed Industry
- Household Retail
- Store-based Retail
- Hypermarkets or Supermarkets
- Convenience Stores
- Mass Grocery Retailers
- Wholesale Stores
- Departmental Stores
- Food & Drink Specialty Stores
- Other Retail Forums
- Online (e-commerce)
- Food Service (HoReCa)
- Institutional (Schools, Universities, etc.)
- Others
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