Pulses Market
Pulses Market Forecasts to 2030 - Global Analysis By Nature (Organic and Conventional), By Type (Beans, Black Gram, Chickpeas and Other Types), Form, Distribution Channel, Application, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $75.7 BN |
|
Projected Year Value (2030) |
US $110.8 BN |
|
CAGR (2023-2030) |
5.6% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Pulses Market is accounted for $75.7 billion in 2023 and is expected to reach $110.8 billion by 2030 growing at a CAGR of 5.6% during the forecast period. Pulses are a subgroup of legumes harvested for their dried seeds, including beans, lentils, chickpeas, and peas. Rich in protein, fiber, vitamins, and minerals, pulses are an essential component of a healthy diet worldwide, particularly in vegetarian and vegan diets. They are versatile ingredients used in various culinary dishes, providing nutritious and sustainable sources of plant-based protein.
According to the European Commission, it will allocate €185.9 million in 2024 to fund promotion activities for sustainable and high-quality EU agri-food products at home and abroad. The 2024 promotion policy work program adopted by the Commission aims to develop new market opportunities while taking into account political priorities, an analysis of projected exports to existing and emerging markets, and contributions from stakeholders.
Market Dynamics:
Driver:
Rising popularity of vegetarian and vegan diets
Pulses, a rich source of plant-based protein, are increasingly sought after by individuals adopting these dietary preferences. As consumers become more health-conscious and environmentally aware, they seek nutritious and sustainable protein sources, with pulses being a prominent choice. This trend not only boosts the demand for pulses but also drives innovation in pulse-based food products, contributing to the overall growth and expansion of the market.
Restraint:
Challenges in storage and transportation
Challenges in storage and transportation are significant restraints in the pulses market due to the perishable nature of pulses and the need for proper handling to maintain quality. Issues such as inadequate infrastructure, lack of cold storage facilities, and inefficient transportation systems can lead to spoilage, loss of quality, and increased costs. Additionally, pulses require specific storage conditions to prevent moisture absorption and pest infestation, further complicating the logistics chain.
Opportunity:
Expansion of pulse-based food products in the food industry
As consumer awareness of the health benefits of pulses grows, there is a rising demand for nutritious and sustainable food options. Pulse-based food products, such as snacks, flour, pasta, and beverages, offer versatility and functionality in various culinary applications. Additionally, the increasing popularity of vegetarian and vegan diets fuels the demand for plant-based protein sources, further driving the growth of pulse-based food products in the food industry.
Threat:
Climate change impacting pulse yields
Climate change poses a significant threat to pulse yields as it leads to unpredictable weather patterns, extreme temperatures, and erratic rainfall, negatively impacting crop growth and productivity. Pulses are particularly vulnerable to temperature fluctuations and water stress, which can result in reduced yields and quality. Additionally, climate-induced pests and diseases may further exacerbate yield losses, increasing the susceptibility of farmers to crop failures and economic losses in the pulse market.
Covid-19 Impact:
The COVID-19 pandemic disrupted the pulses market by affecting supply chains, labor availability, and consumer behavior. Lockdowns and restrictions hampered production and transportation, leading to supply shortages and logistical challenges. Additionally, economic uncertainty prompted changes in consumer purchasing patterns, with increased demand for shelf-stable and nutritious foods like pulses. However, reduced disposable income in some regions may have tempered overall consumption, impacting market dynamics and pricing.
The beans segment is expected to be the largest during the forecast period
In the pulses market, the beans segment is anticipated to dominate during the forecast period. Beans, such as black beans and kidney beans, are widely consumed globally for their nutritional value and versatility in various cuisines. They are rich in protein, fiber, and essential nutrients, appealing to health-conscious consumers seeking plant-based protein sources. Additionally, increasing awareness of the health benefits associated with bean consumption and the growing demand for plant-based diets further drive the growth of this segment.
The food and beverages segment is expected to have the highest CAGR during the forecast period
The food and beverages segment is projected to experience lucrative growth in the pulses market during the forecast period. This growth is attributed to the rising demand for healthy and sustainable food options globally. Pulses are increasingly incorporated into various food products, including snacks, soups, spreads, and beverages, due to their nutritional benefits and versatility. Moreover, consumer preferences for plant-based protein sources and clean-label products further drive the expansion of pulses in the food and beverage industry.
Region with largest share:
Over the forecast period, Asia Pacific is poised to lead the pulses market due to the region's large population, with a significant portion relying on pulses as a dietary staple. Moreover, increasing health consciousness, rising disposable incomes, and urbanization contribute to the growing demand for pulses in Asia Pacific. Additionally, favorable agricultural conditions and government initiatives supporting pulse cultivation further bolster the region's dominance in the global pulses market.
Region with highest CAGR:
Over the forecast period, Europe is positioned for rapid growth in the pulses market due to increasing consumer awareness of the health benefits associated with pulses and the rising adoption of vegetarian and flexitarian diets, which drive demand. Additionally, government initiatives promoting sustainable agriculture and the use of pulses in food products further stimulate market growth. Moreover, the expanding market for plant-based protein sources and the growing popularity of ethnic cuisines incorporating pulses contribute to Europe's promising outlook in the pulses market.
Key players in the market
Some of the key players in Pulses Market include Adani Wilmar Limited, Agro Tech Foods Ltd., AGT Food and Ingredients Inc., Anchor Ingredients Co., LLC, Archer Daniels Midland Company, Bean Growers Australia, Bunge Limited, Cargill, Incorporated, Dakota Dry Bean, Inc., Dalmia Bharat Group, EHL Ingredients, ETG Commodities Inc., George Weston Foods Limited, Groupe Emsland, Hindustan Unilever Limited, Ingredion Incorporated, ITC Ltd., MDH Spices Pvt Ltd., Mother Dairy Fruits & Vegetables Pvt Ltd., Nestle India Limited, Pulse Canada, Ruchi Soya Industries Ltd., SunOpta Inc., The Archer-Daniels-Midland Company (ADM) and Vestkorn Milling AS.
Key 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.
In December 2022, On National Farmers' Day or Kisan Diwas, ITC reaffirmed its commitment to scale up its multidimensional interventions in Climate Smart Agriculture to help Indian farmers withstand increasing weather-related uncertainties whilst boosting their incomes. ITC's Climate Smart Agriculture initiative has already covered 15 lakh acres of land across India benefitting over 4.5 lakh farmers with weather smart, water smart, seed/breed smart, carbon/nutrient smart and institutional/market smart practices.
Natures Covered:
• Organic
• Conventional
Types Covered:
• Beans
• Black Gram
• Chickpeas
• Lentils
• Peas
• Other Types
Forms Covered:
• Whole Pulses
• Split Pulses
• Flours
Distribution Channels Covered:
• Hypermarkets/Supermarkets
• Convenience Stores
• Online Retail
• Wholesalers and Distributors
Applications Covered:
• Food and Beverages
• Animal Feed
• Seed Production
• Other Applications
End Users Covered:
• Households
• Foodservice Industry
• Seed Companies
• Snack Food Manufacturers
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Pulses Market, By Nature
5.1 Introduction
5.2 Organic
5.3 Conventional
6 Global Pulses Market, By Type
6.1 Introduction
6.2 Beans
6.3 Black Gram
6.4 Chickpeas
6.5 Lentils
6.6 Peas
6.7 Other Types
7 Global Pulses Market, By Form
7.1 Introduction
7.2 Whole Pulses
7.3 Split Pulses
7.4 Flours
8 Global Pulses Market, By Distribution Channel
8.1 Introduction
8.2 Hypermarkets/Supermarkets
8.3 Convenience Stores
8.4 Online Retail
8.5 Wholesalers and Distributors
9 Global Pulses Market, By Application
9.1 Introduction
9.2 Food and Beverages
9.2.1 Direct consumption
9.2.2 Bakery Products
9.2.3 Snacks
9.2.4 Soups
9.2.5 Cereal bars
9.2.6 Tortillas
9.3 Animal Feed
9.4 Seed Production
9.5 Other Applications
10 Global Pulses Market, By End User
10.1 Introduction
10.2 Households
10.3 Foodservice Industry
10.4 Seed Companies
10.5 Snack Food Manufacturers
10.6 Other End Users
11 Global Pulses Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
12.1 Adani Wilmar Limited
12.2 Agro Tech Foods Ltd.
12.3 AGT Food and Ingredients Inc.
12.4 Anchor Ingredients Co., LLC
12.5 Archer Daniels Midland Company
12.6 Bean Growers Australia
12.7 Bunge Limited
12.8 Cargill, Incorporated
12.9 Dakota Dry Bean, Inc.
12.10 Dalmia Bharat Group
12.11 EHL Ingredients
12.12 ETG Commodities Inc.
12.13 George Weston Foods Limited
12.14 Groupe Emsland
12.15 Hindustan Unilever Limited
12.16 Ingredion Incorporated
12.17 ITC Ltd.
12.18 MDH Spices Pvt Ltd.
12.19 Mother Dairy Fruits & Vegetables Pvt Ltd.
12.20 Nestle India Limited
12.21 Pulse Canada
12.22 Ruchi Soya Industries Ltd.
12.23 SunOpta Inc.
12.24 The Archer-Daniels-Midland Company (ADM)
12.25 Vestkorn Milling AS
List of Tables
1 Global Pulses Market Outlook, By Region (2021-2030) ($MN)
2 Global Pulses Market Outlook, By Nature (2021-2030) ($MN)
3 Global Pulses Market Outlook, By Organic (2021-2030) ($MN)
4 Global Pulses Market Outlook, By Conventional (2021-2030) ($MN)
5 Global Pulses Market Outlook, By Type (2021-2030) ($MN)
6 Global Pulses Market Outlook, By Beans (2021-2030) ($MN)
7 Global Pulses Market Outlook, By Black Gram (2021-2030) ($MN)
8 Global Pulses Market Outlook, By Chickpeas (2021-2030) ($MN)
9 Global Pulses Market Outlook, By Lentils (2021-2030) ($MN)
10 Global Pulses Market Outlook, By Peas (2021-2030) ($MN)
11 Global Pulses Market Outlook, By Other Types (2021-2030) ($MN)
12 Global Pulses Market Outlook, By Form (2021-2030) ($MN)
13 Global Pulses Market Outlook, By Whole Pulses (2021-2030) ($MN)
14 Global Pulses Market Outlook, By Split Pulses (2021-2030) ($MN)
15 Global Pulses Market Outlook, By Flours (2021-2030) ($MN)
16 Global Pulses Market Outlook, By Distribution Channel (2021-2030) ($MN)
17 Global Pulses Market Outlook, By Hypermarkets/Supermarkets (2021-2030) ($MN)
18 Global Pulses Market Outlook, By Convenience Stores (2021-2030) ($MN)
19 Global Pulses Market Outlook, By Online Retail (2021-2030) ($MN)
20 Global Pulses Market Outlook, By Wholesalers and Distributors (2021-2030) ($MN)
21 Global Pulses Market Outlook, By Application (2021-2030) ($MN)
22 Global Pulses Market Outlook, By Food and Beverages (2021-2030) ($MN)
23 Global Pulses Market Outlook, By Direct consumption (2021-2030) ($MN)
24 Global Pulses Market Outlook, By Bakery Products (2021-2030) ($MN)
25 Global Pulses Market Outlook, By Snacks (2021-2030) ($MN)
26 Global Pulses Market Outlook, By Soups (2021-2030) ($MN)
27 Global Pulses Market Outlook, By Cereal bars (2021-2030) ($MN)
28 Global Pulses Market Outlook, By Tortillas (2021-2030) ($MN)
29 Global Pulses Market Outlook, By Animal Feed (2021-2030) ($MN)
30 Global Pulses Market Outlook, By Seed Production (2021-2030) ($MN)
31 Global Pulses Market Outlook, By Other Applications (2021-2030) ($MN)
32 Global Pulses Market Outlook, By End User (2021-2030) ($MN)
33 Global Pulses Market Outlook, By Households (2021-2030) ($MN)
34 Global Pulses Market Outlook, By Foodservice Industry (2021-2030) ($MN)
35 Global Pulses Market Outlook, By Seed Companies (2021-2030) ($MN)
36 Global Pulses Market Outlook, By Snack Food Manufacturers (2021-2030) ($MN)
37 Global Pulses Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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