the global pulses market size is expected to reach USD 110.83 billion by 2032, expected to grow at a CAGR of 5.20% during the forecast period.
The Pulses Market has been experiencing substantial growth as a result of increasing awareness regarding health, environmental sustainability, and dietary preferences. Pulses are dry seeds from leguminous plants, including lentils, chickpeas, beans, peas, and others, which are consumed globally for their high nutritional content, including proteins, fiber, and essential minerals. They serve as an important source of plant-based protein, especially in vegetarian and vegan diets. Pulses are also gaining popularity due to their affordability, versatility, and minimal environmental impact compared to animal-based protein sources.
Market Growth Drivers
- Rising Health Consciousness:
Consumers are becoming more health-conscious, seeking plant-based, protein-rich, and high-fiber foods. Pulses are an excellent source of plant-based protein and fiber, making them a preferred choice for individuals following vegetarian, vegan, or flexitarian diets. Pulses are also known to be gluten-free, making them suitable for people with gluten sensitivities or celiac disease. - Sustainable and Environmentally Friendly:
Pulses require less water, fertilizers, and pesticides to grow compared to other crops, making them more sustainable and environmentally friendly. As concerns over climate change and environmental sustainability grow, pulses are increasingly being seen as a critical component of sustainable agriculture, contributing to soil health and reducing the carbon footprint of food production. - Growing Demand for Plant-Based Protein:
With the rise of plant-based diets and the increasing popularity of vegetarian and vegan lifestyles, the demand for plant-based protein sources like pulses is on the rise. Pulses are being used in meat substitutes, protein powders, and other food products, fueling their market growth.
Some of the major players operating in the global market include:
- Adani Wilmar Limited.
- AGT Food and Ingredients
- BroadGrain Commodities Inc.
- Globeways Canada, Inc.
- Goya Food Inc.
- Louis Dreyfus
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Key Trends
- Plant-Based Protein Revolution:
Pulses are at the forefront of the plant-based protein movement. Their ability to be used in a wide variety of applications, including plant-based meat alternatives, protein bars, and smoothies, is contributing to the growing market for pulses as a key source of protein in the global food industry. - Increasing Consumption of Legumes in Processed Foods:
The use of pulses in processed foods, such as baked goods, snacks, ready-to-eat meals, and energy bars, is rising due to the nutritional benefits they offer. Pulses are being integrated into foods to enhance protein content, improve texture, and boost fiber content, which is in high demand among health-conscious consumers. - Sustainability and Eco-Friendly Agriculture:
As consumers become more aware of the environmental impact of food production, there is a growing preference for foods that are sustainable and have a lower environmental footprint. Pulses are being marketed as an eco-friendly source of protein, aligning with the trend toward sustainability in agriculture and food production.
Recent Developments
- In March 2023, Adani Walmir, an FMCG company announced its Fortune Pulses brand introduced nine varieties of natural pulses into its product line. This is done to increase its strong market presence in Northern and Eastern states of India.
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The research study includes segmental analysis that divides the market into distinct groups or segments based on common characteristics. With market segmentation, businesses can identify specific customer groups that are more likely to be interested in specific products or services. Also, it enables these businesses to focus their marketing efforts and resources more efficiently, leading to higher conversion rates and improved return on investment. Furthermore, segmentation analysis helps companies develop personalized products or services, which can result in increased customer loyalty and improved customer satisfaction.
Pulses Market Analysis by Nature Outlook (Revenue – USD Billion, 2019 – 2032)
- Organic
- Conventional
Pulses Market Analysis by Form Outlook (Revenue – USD Billion, 2019 – 2032)
- Whole Pulses
- Flour Pulses
- Split Pulses
Pulses Market Analysis by Product Type Outlook (Revenue – USD Billion, 2019 – 2032)
- Dry Beans
- Lentils
- Faba Beans
- Dry Peas
- Chickpeas
- Cowpeas
- Bambara Beans
- Pigeon Peas
- Vetches
- Others
The Pulses Market is poised for continued growth, driven by the increasing demand for plant-based protein, health-conscious diets, and sustainable food production practices. Pulses are not only a cost-effective and versatile source of nutrition but also an environmentally friendly option for consumers looking to reduce their carbon footprint. With innovations in pulse-based food products and ongoing research into their health benefits, the pulses market is well-positioned to meet the needs of a growing global population and changing consumer preferences.
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