Pulse Flour Market - Growth, Trends and Forecasts (2020 - 2025)
The global pulse flour market is projected to grow at a CAGR of 7.97% during the forecast period.
- One of the driving factors of the market is the increased applications of pulse flours such as feeds, pet food applications, etc.
- The fluctuating prices of the major pulses is also a factor that affects the market size and market growth.
- The higher production costs of the flour specific to various applications also hinders the growth of the market.
- Asia-Pacific is the largest and fastest-moving region in the global pulse flour market. The abundant availability of pulses in the Asia-Pacific region is also a driving factor.
- Chickpea and bean-based flours are the most used types of pulse flours.
Lentil Remained The Fastest Growing Segment of The Market
According to Greek researchers, snacks produced through wholegrain lentil flour have been found to meet consumer acceptability with respect to the textural and structure aspects. The study utilized lentil in mixture with cornflour at a ratio of 10-15% (legume/corn). Notably, the researchers mentioned that legumes are being preferred as they are low in sodium and fat and are cholesterol-free – which is likely to be the consumer trend over the forecast period. Eat Real (Lakshmi & Sons Ltd), Enjoy Life Foods, Saffron Road (American Halal Company Inc.), and Raw Garcia are a few active and new companies offering a range of lentil flour derived snack products, such as lentil chips, hummus chips, lentil crackers. The companies have entered into the market with distinct product categories and innovative solutions for healthy snacking - making pulse flour derived products a mainstream category.
South America is the Fastest Growing Region in the Global Pulse Flour Market
The increasing awareness regarding the health benefits of the pulses in the region is the major driver of the market. The consumers with higher purchasing power have started incorporating pulse flours in their daily meal as a part of shifting towards helthier diet. The improving economic conditions of various countries in the region has led to more investments in healthier foods. The abundent availability of various pulses in the region has attracted the major players to invest in the region. Moreover, being a significant supplier and producer of pulses, coupled with government support, the country has growth prospects for the new players entering the pulse processing industry.
Global Pulse Flour market is highly fragmented with the presence of various players competing to capture the market. In developing countries consumers still rely on loca mills for the processed pulse flour. The prominent players of the market include ADM, Ingredion, AGT Foods and Ingredients. Playesr are including more types of pulses into their product portfolio. Certain milling companies even offers custom milling options.
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