Demand for Pulses Market is projected to reach US$ 122.89 Billion at a CAGR of 4.9%: 2023 to 2033 | Future Market Insights, Inc.

China is predicted to witness a CAGR of 6.4% through 2033 in sales of pulses. Rise in the population of vegans is major contributor toward the growth of the pulses market as pulses are considered to be a vegetarian alternative to the animal based protein

NEWARK, Del, March 13, 2023 (GLOBE NEWSWIRE) — FMI finds the overall demand for pulses around the world growing at a promising 4.9% annually, which is anticipated to continue until 2033. The global pulses market valuation is projected to reach US$ 122,891.9 million by the end of the year 2033.

Since pulses are a staple diet across several developing regions, governments are extending financial support and other incentives to increase their production. Countries have implemented various food programs aimed at boosting pulse production in recent years as well.

Growth is underpinned by rising urbanization, surging disposable incomes, and high demand for healthy ready-to-eat, and processed foods. In addition, the concentration of a large population base across India and China is accelerating the need for nutritious food, prompting them to increase overall pulse production.

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Pulses help reduce cholesterol and triglyceride levels within the human body. Due to this, they are extensively consumed across the world. A slight deceleration was anticipated in the short run due to the coronavirus pandemic. In spite of a slight deceleration due to COVID-19, growth prospects remain largely 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 2023-2033 assessment period.

Key Takeaways from the Pulses Market Study Report

• The United States pulses market is projected to grow at an annual rate of 3.7% over the next ten years. By following this growth rate, it is expected to reach an overall valuation of US$ 4,473.2 million by the end of the year 2033.
• In the European region, Germany is the leading region for business in pulses that is projected to grow at a 2.7% rate throw 2033. Meanwhile, the United Kingdom and Spain are expected to witness a higher rate of 3.1% and 4.1% respectively, over these years.
• On the other hand, China is a very lucrative region nowadays for sales of pulses, which may register a CAGR of 6.4% until 2033.
• Based on different forms of pulses, the pulse flour segment holds a higher potential for growth in the coming days. This segment is further projected to progress at an annual rate of 4% during the forecast years.
• High consumption of pulses is likely to be in the whole form, given the higher need for good quality nutrition in countries suffering from severe hunger and malnutrition. This is largely expected to occur throughout the Middle East and Africa.

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Competitive 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, e-commerce channels, despite the significant presence of conventional retail outlets, are largely sustaining growth.

Key segments

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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Table of Content

1. Executive Summary | Pulses Market

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

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Explore FMI’s related ongoing Coverage on Food and Beverage Domain

Pulse Products Market Value: The global pulse products market size is expected to reach a valuation of US$ 1,28.0 Bn in 2022. Furthermore, with rising adoption across households, flour industry, and snack food sector, the overall sales of pulse products are poised to grow at ;4.3% CAGR between 2022 and 2032, totalling a valuation of US$ 1,95.0 Bn by 2032.

Pulse Ingredients Market Size: Newly released data from pulse ingredient market analysis by Future Market Insights shows that the global market size is estimated to be USD 27 Billion by 2032. It is growing at a CAGR of 4.5% for the forecasted year 2022-2032.

Pulse Flours Market Trends: Global demand for pulse flour is forecast to enjoy a valuation of US$ 19.3 billion in the year 2023 and expand at a CAGR rate of 7.0% to reach a valuation of US$ 38.0 billion by the year 2033.

Specialty Food Ingredients Market Share: The global specialty food ingredients market is expected to grow at a CAGR of 5%. The overall specialty food ingredients market share is also projected to increase from US$ 85 Billion in 2022 to US$ 135.4 Billion by 2032.

Whole Grain & High Fiber Foods Market Outlook: The sales of whole grain & high fiber is estimated to be valued at US$ 50,872.6 Mn in 2022. As per Future Market Insights (FMI), the overall market value is expected to reach US$ 105,379.4 Mn by 2032, rising at a CAGR of 7.6% for 2022-32.

About Future Market Insights, Inc.

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