Pulse Flours Market Size Volume Analysis- 2019 | Significant Growth, Value Share, Latest Industry Trends, Key Players and Recent Developments till 2023
“The Global Pulse Flour Market is expected to showcase noteworthy CAGR of 12.5% and reach a significant valuation over the forecast period of 2019-2023”
Pune, India – March 29, 2019 /MarketersMedia/ —
Pulse flour is progressively drawing the interest of the food industry as well as consumers due to its reputation as a nutritionally high product. Packed with high protein and amino acids, pulse flours are healthier than traditional cereal flours. The Global Pulse Flour Market is expected to showcase noteworthy CAGR of 12.5% and reach a significant valuation over the forecast period of 2017-2023, affirms Market Research Future (MRFR) in an in-depth study.
Elevated consumer awareness regarding the health benefits associated with pulse flours and increased consumer preference for protein-rich and green-label food products has resulted in the consolidation of the global pulse flour market.
Pulse flour is increasingly gaining prominence in the bakery industry. Edible bean powder is extensively used in baking applications such as cookies, brownies, cakes, bread, crackers and pizza crust, heeted snacks, cereals, pretzels, and crisps.
The growing incidence rate of celiac disease is also a contributing factor to the growth of the market. Celiac patients who need to maintain a gluten-free diet do not get adequate fiber and also miss out on essential vitamins, minerals, and other nutrients. Consumption of pulse flour could significantly fill the nutrition gap created by gluten-free diet and improve the nutritional profile of celiac patients and are recommended by dieticians. Moreover, gluten-free products are often higher in sugar, calories and fat content. Pulse flour is being highly preferred by health-conscious consumers.
Pulse flour is replacing traditional ingredients such as wheat flour in a variety of products such as in pasta, tortillas, granola bar, and others which is driving the global pulse flour market. They can considerably increase the nutritional content without the loss of sensory qualities. Moreover, pulse flour boosts iron and fiber. They are also better at water retainment and reduce surface cracking.
Enticed by the growing popularity of pulse flours, food companies are trying to capitalize on the opportunity and are incorporating pulse flour in numerous food products to improve the overall nutritional content of products. Moreover, food manufacturers are ramping up their marketing and commercialization programs to raise awareness among consumers which has resulted in a positive momentum of sales.
On the downside, poor olfactory properties of pulses and fluctuating global prices of pulses are likely to impede the growth of the global pulse flour market.
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Segmentation
The Global Pulse Flour Market has been segmented based on type, application, and distribution channel.
By type, the global pulse flour market has been segmented into bean, chickpea, lentil, pea, and others. The chickpea segment is the largest second while the lentil segment is the second largest. Chickpea flour has demonstrated its efficacy in the maintenance of blood glucose levels, weight regulation and improving digestion other than several other health benefits which can be credited for the growth of the segment.
By application, the global pulse flour market has been segmented into beverages, bakery products, savory snacks, meat products, and others. The bakery products segment is dominating the market due to towering demand for pulse flours from the bakery industry. Increasing demand for natural and functional ingredients in food products is likely to augment the growth of the market over the forecast period.
By distribution channel, the global pulse flour market has been segmented into store-based and non-store based distribution channel. The store-based distribution channel is dominating the market.
Regional Analysis
By region, the global pulse flours market has been segmented into North America, Europe, Asia Pacific, and Rest of the world (RoW).
APAC is domineering the global pulse flour market. India is among the top consumers of pulse flours due to an elevated level of awareness among consumers. Moreover, expansion of the agriculture sector coupled with development in food processing and food service industry is driving the growth of the pulse flour market in APAC.
North America follows APAC closely. Rising demand for organic and green label food products in the region is supporting the growth of the market in the region. North America is the frontrunner in the consumption of GM plus flours in food preparation and R&D. The governments in the region advocate the use of pulse flour. The U.S. farm bill of 2014 was designed to fund pulse crops. Moreover, the establishment of supply chain in the region also supports the growth of the market.
Competitive Landscape
Blue Ribbon, LLC (U.S.), Archer Daniels Midland (U.S.), The Scoular Company (U.S.), Anchor Ingredients Co., LLC (U.S.), SunOpta (Canada), Ingredion Incorporated (U.S.), and Batory Foods, Inc. (U.S.) are the notable players in the global pulse flour market.
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Industry Updates
August 2018- Bunge North America added a new pulse flour to its portfolio of clean label ingredients. The product can boost protein content across formulations along with fiber, vitamins, and minerals, with a cleaner, more neutral flavor profile that is suitable for both sweet and savory applications.
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