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The pulse flour market size has the potential to grow by USD 27.07 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by application (bakery products and snacks, beverages, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including AGT Food and Ingredients Inc., Anchor Ingredients Co. LLC, Avena Foods Ltd., Batory Foods, Diefenbaker Spice & Pulse, Groupe Limagrain Holding, Ingredion Inc., Nutriati Inc., The Scoular Co., and Woodland Foods Ltd.
The market is fragmented due to the presence of many regional as well as international vendors. These vendors are increasingly competing against each other based on factors such as price, innovation, quality, and marketing. Manufacturers are focusing on the production of flours with different functionalities by investing more in research and developmental activities. Companies are also focusing on acquiring businesses that offer opportunities to expand their presence across different geographies. Groupe Limagrain Holding, Ingredion Inc., Nutriati Inc., The Scoular Co., and Woodland Foods Ltd. are some of the major market participants. Although the rising demand for gluten-free products will offer immense growth opportunities, the availability of substitutes will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this pulse flour market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this pulse flour market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
Europe had the largest pulse flour market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rising incidence of celiac disease in the region will significantly influence pulse flour market growth in this region.
34% of the market’s growth will originate from Europe during the forecast period. The UK and Germany are the key markets for pulse flour in Europe. Market growth in this region will be slower than the growth of the market in APAC.
The demand for high-protein food products is increasing due to the rising population of health-conscious consumers. This is encouraging manufacturers to introduce pulse flour variants in the market. For instance, Ingredion offers protein-enriched and healthy HOMECRAFT pulse flour products. Such products are used in snacks and baked items because they are naturally gluten-free products. Furthermore, pulse flour, such as chickpea flour, lentil flour, and yellow pea flour, is used in the manufacturing of bread. The yellow pea flour market will also experience growth in the forthcoming years.
Market growth in this segment will be slower than the growth of the market in the others’ segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the pulse flour market size.
Pulse crops are a source of plant-based proteins and amino acids. Pulses contain around 55% to 65% of starch, 1% to 4% of fat, and 18% to 25% of essential amino acids. Governments have introduced various initiatives to promote pulse flour. The pulse crop health initiative (PHI) conducts research activities related to the health and nutritional benefits of pulse crops. Similarly, the pulse crop products program offers funds to purchase pulse crops and develop a delivery chain to introduce dry peas, lentils, chickpeas, and dry beans into school food programs. These programs create awareness about the benefit of pulses among consumers and will increase the consumption of pulse-related products.
Moreover, the rising demand for clean-taste flour, one of the key pulse flour market trends, will also drive market growth. Food manufacturers add clean-taste pulse flour in high-moisture applications such as dairy, yogurt, pudding, cheese, beverages, nutritional mixes, and smoothies. This helps food manufacturers meet nutritional and clean label trends. Moreover, clean-taste pulse flour are also used in baked food products, snacks, cereal, bars, pasta, batters, and breading applications. Such factors will drive market growth at a CAGR of about 15% by 2024.
Five Forces Analysis
Market Segmentation by Application
Drivers, Challenges, and Trends
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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