Market Synopsis:
Pulses are the dried edible seeds of cultivated legume. According to the United Nations Food and Agriculture Organization, there are 11 types of pulses are produced worldwide: Dry beans, dry broad beans, dry peas, chickpeas, cow peas, pigeon peas, lentils, Bambara beans, vetches, lupins and pulses nes. Pulses are healthy, nutritious, & easy to cook and that is why pulse flour is being increasingly used as an ingredient for functional food. Pulses are major and inexpensive source of proteins, nutrients, fibre and minerals for people around the world. They have zero cholesterol, low fat content and zero gluten. Growing pulse crop also increase the soil health and improve yield. Pulses flour is used as an ingredient in preparing various food items such as bread, bakery products, fast food and others across the globe.
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Market Growth Factors:
The growth in the population and increased in per capita income are the major growth drivers for pulse flour market. Increasing demand for healthy food and changes in the lifestyle of consumers resulted into the use of pulse flour in new product launches. High protein profile and rich nutrition content of pulse flour is expected to hinder the use of rice and wheat flour which leaves the positive impact on market growth.
Market Segmentation:
Pulse flours market is segmented on the basis of pulse types and applications. On the basis of pulse type market is segmented as Peas, Chickpea, Bean, and Lentil. Chickpea is most popular pulse and leading the market in terms of value. Chickpea helps to maintain blood sugar level, boost digestion and increase satiety. On the basis of application market is divided into the Bakery, Dairy, Fast food and other functional foods. Bakery is expected to be the largest segment and with new product launches in this segment will boost the demand for pulse flour.
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Regional Analysis:
Geographically market is divided into North America, Europe, Asia-Pacific and LAMEA. Asia Pacific is expected to be the largest market for pulse flour. Increase in the per capita income and increased population in Asian countries drives the growth of this market. Europe is fasted growing market for pulse flour as changing lifestyle of consumers has increase the demand for pulse floor in preparation of fast foods such as pizza, donuts, fried meat items and others.
Competitive Analysis:
Ingredion Incorporated, ADM, Best Cooking Pulses Inc., AGT Food & Ingredients, CanMar Grain Products, Parakh Agro Industries Ltd., Ganesh Grains Ltd, Diefenbaker Seed Processors and others. New product development (specifically health products) and variety in offerings are the key competitive factors in this market.
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Latest News:
• UK based bread brand has partnered with Canadian International Grains Institute to develop pulse flour based products.
• AGT Food and Ingredients Inc. acquired Mobil Capital Holdings Ltd., a Canada based agricultural processor and exporter. It has recently expanded its scope from specialty pulse crops to include a broad range of Saskatchewan-grown crops.
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