Industry Insights
The global pulse
flour market size was estimated over
USD 17 billion in 2015. Pulse flour obtained from the hull of pulses like
chickpea, pea, lentils, and other legumes is gaining popularity as an essential
functional food ingredient. The growing vegetarian population is driving the
demand for these products in various food products. Extensive R&D for new
product development coupled with government initiatives about the promotion of
pulses is expected to have a positive impact on market growth over the forecast
period.
Pulse flour contains
low-fat source, low glycemic index, and high fiber content owing to which this
product exhibits many advantages over wheat flour and rice. The presence of
rare elements such as potassium, selenium and sodium & nutrients is
responsible for growing demand in end-use applications.
The growing incidences of
diabetes and obesity have increased the importance of naturally sourced
ingredients such as pulse flour as they increase the nutritive value of food.
The demand for pulse flour has been on the rise owing to growing demand for
gluten free foods. Gluten free foods aid in minimizing the risk of excess
weight and increase energy levels. The changing lifestyles coupled with a rise
in on the go eating is expected to boost the usage of pulse flour in the
manufacturing of gluten-free foods.
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Application Insights
Bakery & snacks were
the largest segment in the market accounting for more than 85% of the market
share in 2015. Rising awareness about consumption of healthy bakery products is
anticipated to boost the consumption of pulse flour in this application
segment.
Numerous private volunteer
organizations and commercial food processors are working towards inclusion of
pulse flour in formulations of beverages. Pulse flour demand has received a
boost on account of growing application in infant formulations. It has also
proven to be an effective alternative for children suffering from soy and
lactose allergies.
Regional Insights
In 2015, Europe dominated
the pulse flour market globally by accounting over 25% of share in terms of
revenue. North America and Asia Pacific are key consumers of beverages. Rising
consumption for sports and energy drinks are expected to witness a growth over
the forecast period.
The Middle East &
Africa is the fastest growing region on account of growing application of pulse
flour in curries, soups, tajines, and hummus. Growing food services and retail
sales coupled with high population growth in the region is likely to have a
positive impact over the forecast period. The growing hospitality industry is
in countries such as Morocco, UAE, Israel, and Egypt is expected to further
augment market demand over the forecast period.
Competitive Insights
The key players in the
market are Harvest Innovations, Parakh Agro Industries Ltd., CanMar Grain
Products, ADM, Ingredion Incorporated, Best Cooking Pulses Inc., Ganesh Grains
Ltd, Diefenbaker Seed Processers, and AGT Food & Ingredients.
Industry participants are
adopting merger & acquisition and new product development strategies to
strengthen their market position. In October 2014, Archer Daniels Midland
Company acquired WILD Flavors GmbH in October 2014.
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