A recently published report by Fact.MR reveals that the global pulse flour market is projected to grow at a modest CAGR of 8% during the forecast period (2021-2031), reaching US$ 25 Bn. Heightened demand for flour variants from the food industry across the globe will give traction to the pulse flour market, making it a hub of profitable growth during the forecast period.
Historical performance of the market reveals that the industry surged at a CAGR of 7%, surpassing US$ 10 Bn by the end of the 2021-2031 forecast period. Sales further surged amid the COVID-19 pandemic, attributed to a spike in consumption of healthy and nutritious ready-to-eat processed foods throughout 2020. However, initial supply chain disruptions contracted sales, given the logistical difficulties encountered during the peak of the pandemic.
Owing to the growing demand for pulse flour for household as well as industrial applications, the market is anticipated to witness robust growth, making the landscape highly competitive. According to Fact.MR, the market for pulse flour is anticipated to create an absolute opportunity worth US$ 15 Bn by 2026, and reaching US$ 11.5 Bn by 2021.
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Key Takeaways from the Market Study
- Chickpea type pulse flour accounts for 33% market share.
- Lentil based pulse flour sales to surge at a staggering 10% value CAGR through 2031
- Animal feed applications to experience over 2x increase from 2021 to 2031
- Bakery and confectionery applications to register an identical upsurge until 2031
- North America to account for 25% of global pulse flour market demand until 2031
- Asia to account for more than 3 out of 5 pulse flour sales from 2021 to 2031
“Increased preference for diets rich in fiber and other nutrients is compelling consumers to switch to consuming pulse flour across a range of food applications, prompting manufacturers to introduce novel product ranges,” comments the Fact.MR analyst.
What is the Demand Outlook across North America?
According to Fact.MR research, together North America is expected to hold more than 25% of the market share in terms of value and projected to witness considerable growth over the forecast period.
The improving economic conditions, increasing awareness regarding the health benefits of the pulses, and higher purchasing power is motivating the people across the region to incorporate pulse flours in their daily meal as a part of shifting towards healthier diets.
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Competitive Landscape
Competition in the global pulse flour market is expected to rise, with players focusing on gaining a competitive advantage and increasing their market foothold. Various players around the world are investing in new R&D projects, making joint ventures, and partnerships for being ahead in the competition among others.
- In September 2021, Batory Foods, and BioHarvest Sciences Inc., signed an exclusive performance-based agreement to enter the US$ 16 billion USA nutraceuticals market and 2025 projected $8 Billion US Edible CBD Market. This agreement aims at bringing Biofarming technology and portfolio of products.
- In August 2021, Avena Foods’ Purity Protocol gluten-free oat ingredients announced the launch of Glyphosate Residue Free which is certified by The Detox Project. Products or ingredients bearing a Glyphosate Residue Free Label contain less than 10 parts per billion of the herbicide.
Key companies Profiled:
- Anchor Ingredients Co. LLC
- Archer Daniels Midland Company
- Batory Foods, Inc.
- Best Cooking Pulses Inc.
- Blue Ribbon Grain & Pulses Pty Ltd
- CanMar Grain Products
- Diefenbaker Spice & Pulse
- EHL Ingredients Limited
- Great Western Grain Company Ltd
- Ingredion Incorporated
- Bean Growers Australia Ltd.
- Parakh Agro Industries Limited
- SunOpta, Inc.
Key Segments Covered
Product Type
- Chickpea Pulse Flour
- Lentil Pulse Flour
- Pea Pulse Flour
- Lignin Pulse Flour
- Bean Pulse Flour
- Other Pulse Flour
Application
- Pulse Flour for Bakery and Confectionery
- Pulse Flour for Extruded Products
- Pulse Flour for Beverages
- Pulse Flour for Animal Feed
- Pulse Flour for Dairy Products
- Pulse Flour for Other Applications
Distribution Channel
- Pulse Flour Sales via Food Chain Services
- Pulse Flour Sales via Modern Trade
- Pulse Flour Sales via Convenience Stores
- Pulse Flour Sales via Departmental Stores
- Pulse Flour Sales via Online Stores
- Pulse Flour Sales via Other Distribution Channels
Key Points Covered in Pulse Flour Industry Survey
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- Assessment by Product Grade / Purity / Formulation Standards
- Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
- Certifications and Compliance Requirements
- COVID-19 Impact on the Pulse Flour Industry and How to Navigate
- Recommendation on Key Winning Strategies
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