Pulse Flour Market Size Is Expected To Reach $15.9 Billion By 2028 With Increasing Demand For Healthy Food Products As Per The Business Research Company’s Pulse Flour Global Market Report 2024
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LONDON, Jan. 09, 2024 (GLOBE NEWSWIRE) — As per The Business Research Company’s Pulse Flour Global Market Report 2024, the pulse flour market has experienced rapid growth in recent years, with the pulse flour market size surging from $9.9 billion in 2023 to a projected $11 billion in 2024. This remarkable expansion reflects a robust Compound Annual Growth Rate (CAGR) of 11.1%. The historic growth can be attributed to a confluence of factors, including the rise in health and wellness consciousness, the increasing demand for gluten-free and allergen-free attributes, a growing preference for dietary diversity, the surge in demand for sustainable food products, the expanding use of pulse flours in food processing applications, and the rise of the food service industry.
Projected Growth Trajectory
The pulse flour market is poised for continued robust growth in the coming years, with forecasts indicating a market size of $15.95 billion by 2028, boasting a CAGR of 9.7%. This anticipated pulse flour market growth is driven by increasing demand for gluten-free and healthy food products, a growing awareness of the health benefits associated with pulses, and government support for pulse production and consumption.
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Emerging Trends
Major trends in the forecast period include significant innovation within the pulse flour industry, the integration of digital health technologies in pulse flour-based product development, a surge in product innovations, and strategic partnerships to foster industry growth.
Industry Leaders
Key players in the pulse flour market include industry giants such as Cargill Incorporated, The Archer-Daniels-Midland Company, and Bunge Limited. Other major contributors include Ingredion Incorporated, Ardent Mills, Groupe Limagrain Holding SA, and Blue Ribbon LLC. Companies like SunOpta Inc., Minsa Corporation, and The Scoular Company also play pivotal roles in shaping the market.
Technological Advancements
Companies operating in the pulse flour market are actively engaged in innovation to sustain their market position. A notable example is the introduction of Prista flour, a line of gluten-free flour designed as a substitute for wheat flour. For instance, in September 2021, Ingredion Incorporated launched Prista, a range of flours and concentrates made from pulses, including Vitessence Prista P 360 fava bean protein concentrate, Vitessence Prista P 155 pea protein concentrate, and Homecraft Prista P 101 pea flour. This innovative range caters to various applications, including fast drinks and ready-to-eat foods.
Regional Dynamics
North America held the title of the largest region in the pulse flour market in 2023, while Asia-Pacific is expected to emerge as the fastest-growing region in the pulse flour market in the forecast period.
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Market Segmentation
The pulse flour market, as detailed in this report, is segmented based on:
- Product Type: Bean, Chickpea, Lentil, Pea
- Category: Organic Flour, Conventional Flour
- Distribution Channel: Food Chain Services, Modern Trade, Convenience Store, Departmental Store, Online Store, Other Distribution Channel
- Application: Bakery, Extruded Snacks, Pet Food And Feed, Other Applications
In conclusion, the Pulse Flour Global Market Report 2023 paints a promising picture of sustained growth and innovation. Industry players can leverage this comprehensive report to strategically position themselves, identifying emerging trends and opportunities, fostering innovation, and propelling their business to new heights.
Pulse Flour Global Market Report 2024 by The Business Research Company provides insights on the pulse flour market size, pulse flour market segments, pulse flour market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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