The pulse flours market is expected to be valued at US$ 19.3 billion in 2023, registering a CAGR of 7.0% to US$ 38.0 billion by 2033. Due to features such as minimal fat, high fiber content, and low glycemic index, the demand for pulse flours is predicted to rise in the near future.
Increasing Adoption of Gluten-free Foods is Propelling Market Growth
Growing consumer health consciousness has resulted in the widespread acceptance of a gluten-free diet. People are becoming aware of its significance and taking considerable steps to incorporate it into their lives.
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Rapid urbanization and rising disposable incomes have resulted in increased integration of pulse flour, which is fueling pulse flour market expansion. Furthermore, governments around the world are offering incentives for increased production of pulse crops, resulting in the widespread availability of pulse flour. Consumer demand for vegetarian diets and cleaner product labeling is growing, which is expected to boost market expansion.
Pulse Price Fluctuations Pose Major Roadblocks to the Market
The main threat to the pulse flours market is the variation in the price of pulses used in the production of flour. The product’s pricing is significantly reliant on the price of pulse in a specific region. Prices are minimal in Asia Pacific countries, particularly India, due to large-scale pulse production and the region’s strong emphasis on agriculture.
The rising population has increased demand for the product, resulting in an increase in low-cost imports of pulses from various economies.
Asia Pacific Region is going to be a Prominent Market
Asia Pacific is a key geographical pulse flour market. The regional market’s expansion has been boosted by rising health concerns and increased demand for gluten-free products, particularly in emerging nations such as India and China. To switch to a healthier diet, customers with higher purchasing power have begun incorporating a variety of flours into their regular meals.
The region’s agricultural growth has improved, which, combined with advances in the food processing and food service industries, has opened up new opportunities for pulse flours and boosted the market’s expansion during the historical era.
Key Takeaways
- The U.S. pulse flour market is predicted to grow at a moderate CAGR of 6.6% over the forecast period, reaching US$ 10.7 billion in 2033.
- The U.K. pulse flours market is estimated to increase at a CAGR of 6.3% over the forecast period, reaching US$ 1.3 billion in 2033.
- The China pulse flour market is predicted to grow at a moderate CAGR of 9.5% over the forecast period, reaching US$ 3.8 billion in 2033.
- The Japanese market is estimated to grow at a CAGR of 7.7% over the forecast period, reaching US$ 1.9 billion in 2033.
- Throughout the forecast period, the South Korean market is predicted to grow steadily at an 8.7% CAGR, reaching US$ 1.2 billion in 2033.
- Pea may grow at a CAGR of 7% in the pulse flour market over the forecast period, depending on product type.
- In terms of application, the food & beverage category is expected to grow at a CAGR of 6.8% over the forecast period.
Competitive Landscape
Due to the existence of many players, the competitive landscape of the global pulse flours market is extremely fragmented. Players are pursuing methods such as mergers and acquisitions, and cooperation may assist players in gaining important market positions.
Other investments in research and development tactics may also assist vendors in gaining a substantial place in the overall market rivalry. Bob’s Red Mill Natural Foods, AGT Food and Ingredients Inc., Ingredion GmbH, Red River Commodities, Inc., Globeways Canada, Inc., and Archer Daniels Midland Company are the market leaders in pulse flour.
Recent Development
- Product Launch
- Ingredion Inc. launched its Prista line of pulse-based ingredient solutions in October 2021. Homecraft Prista P 101 pea flour, Vitessence® Prista P 155 pea protein concentrate, and Vitessence Prista P 360 faba bean protein concentrate are available for plant-protein-based applications such as immediate and ready-to-eat (RTE) products.
- The introduction of high-performance Prista concentrates and flours is just one of the many ways Ingredion is delivering on its strategic commitments to accelerate plant-based protein growth.
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Key Segments
By Product Type:
- Chickpea
- Lentils
- Pea
- Beans
- Other Product Types
By Application :
- Bakery and Confectionery
- Extruded products
- Beverages
- Animal Feed
- Dairy Products
- Other Applications
By Distribution Channel :
- Food Chain Services
- Modern Trade
- Convenience Store
- Departmental Store
- Online Store
- Other Distribution Channel
By Region :
- North America
- Latin America
- Europe
- Japan
- Asia Pacific excluding Japan
- The Middle East & Africa (MEA)
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