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 opines that the global pulse flour market is projected to accelerate at a stupendous CAGR of over 10% during forecast period 2019 – 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, demand for pulse flour is expected to soar exponentially and is projected to create an absolute $ opportunity of around US$ 15 Bn during forecast period 2019 – 2026.
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Manufacturers are actively focusing 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. Consumption of pulse flour in several processed food categories including instant noodle, pasta, extruded snacks and breakfast cereals, have increased its demand in the recent years.
Key Takeaways of the Global Pulse flour Market
- Chickpea type pulse flour accounts for one third market share and is expected to show high growth in pulse flour market during period of forecast, due to increased demand from bakery and confectionary 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 period of forecast, owing to its increased demand in animal feed industry.
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- 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 is projected to grow at a higher CAGR than the global average.
- Together 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 and is projected to grow double during forecast period.
- Bakery and confectionary applications of pulse flour hold more than one third market share and are projected to grow 2X during 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.
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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.
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