Global Pulses Market to Surpass US$ 100 Bn by 2030: FMI Study
Future Market Insights (FMI) has anticipated the global pulses market to surpass a revenue threshold of US$ 100 Bn by the end of the 2020-2030 forecast period, in its recently published report.
A recent market study published by Future Market Insights on the Pulses market offers glob...
FMI opines the market is slated to scale new heights amid heightening demand for fiber-rich and nutrient infused foodstuffs. Recent years have seen an upsurge in the availability of pulse based instant foods. Pulses are known to reduce cholesterol and triglyceride levels, thus enhancing life expectancy.
After taking the COVID-19 pandemic into consideration, growth prospects for the global pulses market appear largely optimistic, with sluggishness staving off due to relaxation of lockdowns.
Key Takeaways from FMI’s Pulses Market Report
- APEJ to represent lucrative growth opportunities, generating nearly 60% of revenue
- Dried beans to enjoy widespread popularity, attributed to the presence of vital micronutrients
- Demand for organic pulses experiencing northward shift, expanding at a CAGR exceeding 7%
- E-commerce to register staggering growth, owing to rising dependence on virtual platforms amid the pandemic crisis
- Pulse flour acquiring ascending popularity due to widespread applications in preparing various foods
- Global pulses market to expand at 4.9% value CAGR across the assessment period
“Growing awareness about health benefits is prompting governments to accelerate pulses production, encouraging food manufacturers to concentrate their operations in prominent pulse producing countries,” comments the FMI analyst.
COVID-19 Impact Insights
As the COVID-19 pandemic tightens its grip around the world, the global pulses market has experienced minor deceleration. This has mostly resulted due to constraints in logistical arrangements to transport finished products from the producer to the market. Fortunately, this setback is gradually eroding with lockdown restrictions easing.
Moreover, growth of the pulses market is largely being sustained by e-commerce channels, despite conventional retail outlets resuming operations. Voluntary social distancing measures adopted by consumers is driving this purchasing behavior. Nowadays, consumers are relying on platforms such as Big Basket, Amazon and Grofers to purchase pulses.
Furthermore, the trend of healthy eating has also picked up pace, with consumers hoping to strengthen their immunity by eating fiber, nutrient and vitamin rich foodstuffs. Therefore, growth prospects of the global pulses market appear largely optimistic throughout the 2020-2030 assessment period.
Prominent players in the global pulses landscape are concentrating on introducing innovative and customized products based on customer-specific requirements, strategic collaborations, partnerships and ventures.
For instance, in 2017, Danone acquired WhiteWave, a prominent plant-based food & beverages manufacturer with the objective of expanding its own range of plant-based foods and beverages. This acquisition has helped Danone realize its commitment to uphold consumer expectations of healthy and sustainable food choices.
In 2008, General Mills Inc. introduced a wide spectrum of gluten-free cereals within its product portfolio. These cereals are primarily made from non-gluten containing sources such as pumpkin seeds, peanuts, corn, pulses, berries and other fruits & vegetables.
In November 2016, Monde Nissin entered into a joint venture with Nippon Indosari to launch Sarimonde Foods, with the objective of broadening its food and beverage portfolio outreach within the Philippines.
More Insights on the Pulses Market
Future Market Insights, in its new report, offers an unbiased analysis of the global pulses market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the pulses market on the basis of product type (dry beans, lentils, faba beans, dry peas, chickpeas, cowpeas, bambara peas, pigeon peas and vetches), nature (organic and conventional), form (whole, flour and split) and end use application (B2B, household/retail, food service and institutional) across six prominent regions.
About Food Market Division at FMI
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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