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Global pulse flour market size to grow at 10% until 2026, says Fact.MR
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Wednesday, 22 January, 2020, 08 : 00 AM [IST]
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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. Fact.MR, in its newest research report, opined that the global pulse flour market was projected to accelerate at a stupendous CAGR (compound annual growth rate) of over 10 per cent during forecast period (i.e., until 2026), which is double the growth rate of global flour market.
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. Pulse crops such as lentils, beans, peas and chickpeas are a great source of amino acids and plant-based proteins.
They are also being incorporated to increase the health attributes of gluten-free products. On this backdrop, the demand for pulse flour is expected to soar exponentially, and is projected to create an absolute dollar opportunity of around $15 billion during the forecast period.
Manufacturers are actively focussing on development of processes that allow preservation of the nutrient density of pulse flour used in food items. Furthermore, manufacturers are adopting advanced technologies that help boosting commercial capacity for value-added pulse flour without compromising on quality.
The consumption of pulse flour in several processed food categories, including instant noodles, pasta, extruded snacks and breakfast cereals, have increased its demand in the recent years.
Key takeaways
• Chickpea-type pulse flour accounts for one-third of the market share and is expected to show high growth in the pulse flour market during the period of forecast, due to the increased demand from the bakery and confectionery industry
• Animal feed application of pulse flour is a major contributor to the global pulse flour consumption, and is projected to grow by more than double over the period of forecast, owing to its increased demand in animal feed industry
• Pulse flour market in Asia Pacific excluding Japan holds more than one-third of the market share. Moreover, increasing consumer base of Asia Pacific excluding Japan (APEJ) is projected to grow at a higher CAGR than the global average
• Together, the North America and Latin America pulse flour market is expected to hold more than one-fourth of the market share in terms of value and projected to witness considerable growth over the forecast period
• Food chain services is the rapidly-growing distribution channel for pulse flour across the globe, which is projected to grow double during the forecast period
• Bakery and confectionery applications of pulse flour hold more than one-third market share and are projected to grow twice during the forecast period
Market leaders leveraging partnerships for innovative processes in pulse flour products
In recent years, manufacturers and food brands are making bold and strategic moves to increasingly collaborate and enter into partnerships in order to find new application areas of pulse flour, such as instant noodles, pasta, etc.
Further, greater emphasis is being placed on identifying and determining characteristics of functional quality and critical nutrition of pulse flour-based products.
Besides, certain inorganic developments have also been observed in the recent past. Market leaders, such as Archer-Daniels-Midland Company has acquired Chamtor Company, which deals with the production of pulse flour, wheat-based sweeteners and starches.
Find more valuable insights on the global pulse flour market
Fact.MR, in its new offering, provides an unbiased analysis of the global market for pulse flour, with historical data on demand (2014-2018) and expected projections for the period (2019-2026).
The pulse flour report discloses compelling insights into the demand for pulse flour based on product type (i.e., chickpea, lentils, pea, beans and other product types), applications (bakery and confectionery, extruded products, beverages, animal feed, dairy products and other applications) and distribution channels (food chain services, modern trade, convenience store, departmental store, online store and other distribution channels), across seven key regions and 22-plus countries.
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