Introduction
Over the past few years, pulses have become one of the most recognized leguminous foodstuffs in the world. Lentils, chickpeas, and beans are the most popular pulses largely due to their nutritional content and wide range of applications in different food segments.
The estimated expansion of the pulse ingredients market has primarily been driven by various factors. The ballooning number of consumers who are expanding their knowledge of plant protein has fueled the pulses market. Interestingly, many people are now switching from animal proteins to plant proteins to avoid or minimize the possibility of lifestyle diseases.
Increased awareness and concern for environmental sustainability, as well as a thriving interest in functionalized foods, are some of the factors that have attributed to the rapid expansion of the pulse ingredients market. This blog will look at the drivers and dynamics of this industry. In addition, we will look at the ongoing developments and prospects on a global scale.
Market Overview
It is analyzed and market size information is provided by product type namely lentils, chickpeas, beans, peas, and others, application namely food and beverages, animal feed, dietary supplements, and region namely North America, Europe, Asia Pacific, Latin America, and Middle East Africa. The rising vegan/vegetarian population has increased the market share. Moreover, health awareness along with a call for an hourglass figure and demand for effective mild dietary supplements has driven the market share in the food and beverages industry. Simultaneously, the growing consciousness about sustainability within the food industry further drives the demand for plant-based protein.
Market Size and CAGR
This market size is valued at xx USD in the year 2023, and it is estimated to grow at a CAGR of 4% from 2023 to 2031.
Key Market Trends
Plant-Based Diets Health-conscious vegetarians environmental eaters and vegans are embracing plant-based diets, which is sparking demand for pulse ingredients.
Sports Nutrition: Pulse ingredients are a great way to boost the nutritional value of functional foods including protein bars, plant-based meat alternatives, and fortified beverages.
Sustainability: Its low water and land use compared with other crops makes pulses attractive to both customers and retailers.
International markets: Increasing globalization of food markets means many opportunities to import and export chickpea ingredients and products.
Market Drivers and Challenges
Drivers:
Technological advancements in pulse processing
Challenges: