Global Pulse Protein Market is segmented By Type (Chickpea, Lentils, Fava Beans, Kidney Beans, Others), By Form (Isolates, Hydrolysates, Concentrates), By Nature (Organic, Conventional), By Extraction Process (Wet, Dry), By End-Use (Food & Beverages, Pharmaceuticals, Feed, Others), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
The Global Pulse Protein Market valued USD XX million in 2020 and is estimated to reach USD XX million by 2028, growing at a high CAGR during the forecast period 2024-2031
Pulses are a vital source of protein in human nutrition, widely used in several food recipes and processed food products. Pulses also has significant content of vitamins, minerals and fibers, and are usually free from gluten and other allergens. These nutritional benefits of pulses led to demand for processing pulses into concentrates, starches and flours. Chickpeas, dry beans lentils and fava beans are some of the most widely used pulses in this process. Pulse concentrates are used as an ingredient in food and animal feed, primarily as a source of protein. The rise in demand of gluten and allergen free products is boosting the growth of the pulse protein market. Pulse protein evolved as the key category of plant-based protein that are finding large traction among vegetarian and vegan population. Also, meat-eating population are focusing towards addition of pulse protein to their diets to supplement dairy and meat protein to meet daily intake.
Source: DataM Intelligence Analysis (2021)
Market Dynamics
Growing preference of consumers towards protein rich food products
Pulses has up to 80% protein content, and offers a powerful protein punch with lots of flexibility for other ingredients. Highly refined to reduce oligosaccharides, pulse protein offers improved flavor & mouth feel and digestive ease. These attributes allow for increased protein levels in foods, such as high-fiber, high-protein, low-calorie breads, without changing their flavor. Pulse proteins are rich in lysine, and the high-quality amino acid balance of pulse protein makes it a perfect complement to wheat protein, while its uncommon allergen status outshines soy and whey protein sources. These factors are responsible for making pulse protein the most popular emerging plant-based protein across the globe.
Moreover, millennials are becoming more concerned about their health, and thus, opting for a balanced diet with nutritional food. Diet and nutrition involve the consumption of a large amount of protein, and a majority of consumers prefer plant-based products, owing to their high nutritional content. Pulse protein is perceived to be free from additives, hormones, antibiotics, and non-GMO, and its high protein content makes it the perfect source of protein for health-conscious people around the world. Thus, it is gaining attention as the perfect diet ingredient for health-conscious consumers, thereby aiding the growth of the pulse protein market.
Market Segmentation
Increasing application of pulse protein in the nutraceuticals industry
Pulse protein contains a high amount of protein, and thus, it has various applications in the nutraceutical industry. This high-protein ingredient is used in nutraceutical supplements for weight management and in other healthy food preparations. Changing and hectic lifestyles of consumer increase their attention toward healthy ingredients, due to which, organic vegan products have gained more traction in recent years. On the back of high protein content, pulse protein is gaining popularity as an ingredient and is used in numerous nutraceutical supplements that are used by many health-conscious consumers.
Based on type, chickpeas segment is expected to grow with a significant CAGR during the forecast period. Worldwide, chickpea ranks third among the pulse crops and accounting for 11.67 million tons annually. Peas contain minerals such as iron, zinc, magnesium, and phosphorus, which help in the promotion of good health. Because of their high fiber content, they are also considered to help in the reduction of cholesterol and the maintenance of blood sugar levels. Pea-derived foods, such as pea starches, pea proteins, and pea flours, are used as primary ingredients in a variety of items, including baked goods, sauces, soups and other food products, thus driving the segment growth
Market Geographical Share
Asia Pacific is expected to dominate the global pulse protein market in the year 2020
Pulse protein is extensively consumed across Asia Pacific, attributable to the highly developed processed food industry in this region. The large and growing vegetarian population in India and South East Asian countries led to the large potential for pulse protein in the region. Food processing companies are increasingly utilizing nutrition rich, plant-based ingredients in their products, which is promoting the use of pulse protein. Furthermore, the number of lactose intolerant consumers in Asia Pacific is continuously increasing. Along with this, consumers are also avoiding gluten in their diets. Pulse protein is naturally lactose-free and gluten-free. These factors are propelling the demands for pulse protein in the Asia Pacific region. Over 60% Indians are lactose intolerant. As the world’s largest producer of pulses, India stands to gain tremendously in boosting pulses consumption. India is the single largest producer of chickpea in the world, accounting for 65% (9.075 million tons) of the total production under chickpea. Australia is the second leading country over the world in 14% share.
Source: DataM Intelligence Analysis (2021)
Market Competitive Landscape
The global pulse protein market is highly fragmented with players such as Ingredion, Cargill, Incorporated, AGT Food and Ingredients, ADM, Kerry Group and Glanbia PLC among others. The key players are adopting various key strategies such as product launches, collaborations, mergers & acquisitions which are contributing to the market globally.
For instance,
- In April 2021, Ingredion Inc. added two new ingredients to its plant-based collection at its new pea protein production facility in South Sioux City, Nebraska.
- In March 2021, Amano Enzyme launched Umamizyme pulse, a non-GMO enzyme designed for various plant protein products
COVID-19 Impact: Pandemic spurred the global consumer shift towards plant-based diets, thus positively affecting pulse protein market
The spread of novel coronavirus and the lockdown restrictions imposed has resulted in severe supply-demand disruptions across the food industry. Pulse protein as a food ingredient witnessed considerable impact in terms of trade logistics and distribution hindrances. Closure or limited operations of foodservice industry had decreased the demand for pulse protein across the globe. However, processed food categories including bakery and confectionery, snacks, breakfast cereals and functional drinks witnessed increased sales during this period, thereby offsetting the decline from foodservice industry. Also, processed food products has been the major consumption area for pulse protein and resilience of this sector to the pandemic is offering promising growth for pulse protein both during and post-pandemic period.
Why Purchase the Report?
- Understand the current market scenario and viability of global pulse protein over the forecast period
- Visualize the composition of the global pulse protein market in terms of type, form, nature, extraction process and application to identify major players, growth potential, and market strategies
- Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
- Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market
What we offer?
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
- Excel data sheet with valuable data points of the global pulse protein market – Regional and Country level segmentation
- Product mapping in excel for the key products of all major market players
- Market share analysis covering business revenues ($) and revenue share (%) of key market players
The global pulse protein market report would provide an access to approximately 45 market data tables, 45 figures and 180 pages
Target Audience:
- Food and Beverage Manufacturers
- Animal Feed Manufacturers
- Pharmaceutical Companies
- Import and Export Companies
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
