Pulse Ingredient Industry in Korea Overview for 2023 to 2033

The industry size of the pulse ingredient in Korea is estimated to be US$ 574.74 million in 2023. The industry is estimated to surpass US$ 1,202.02 million by 2033. The demand for pulse ingredient in Korea is projected to inflate at a 7.7% CAGR through 2033, driven by the rise in consumer awareness of health and wellness.

Pulse Ingredient Industry in Korea: Size, Analysis, and Insights

  • As a result of increased health consciousness and dietary supplement use in the country, the industry is rapidly and profitably expanding. The pharmaceutical manufacturing business throughout the country is poised to significantly contribute to industry growth.
  • Rising demand for the healthy food products in the country is expected to drive the industry in the forecast period.
Attributes Details
Industry Value of Pulse Ingredient in Korea in 2023 US$ 574.74 million
Projected Industry Value of Pulse Ingredient in Korea by 2033 US$ 1,202.02 million
Value-based CAGR of the Industry for 2023 to 2033 7.7%

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Trends Shaping the Demand for Pulse Ingredient in Korea

  • Pulse ingredients are frequently found in a wide range of foods, including soups, sauces, bread goods, dinners, snacks, and sweets. They are available in several forms, including flour, protein, and fiber.
  • The industry is experiencing growth driven by the rising demand for plant-based and gluten-free products, coupled with the increasing acceptance of protein-rich food items.
  • Korea is anticipated to play a significant role in generating revenue for pulse ingredient manufacturers. This is due to the growing elderly population consuming various protein-rich products, including pulse ingredients.
  • The pulse ingredient industry is growing due to the rising demand for natural ingredients and clean-labeled food items. Consumers are adjusting their diets to incorporate more natural and organic products, attracted by the high vitamins and minerals content in pulse ingredients.
  • The increased customer preference for protein-rich foods, such as pulse component protein, is driving the pulse ingredient industry's growth in Korea. Given the health benefits provided by these products' high protein content, there is a growing demand for pulse-derived components such as pea protein, pea flour, and pea starch.
  • The increased number of aged people who consume various protein-rich products, including pulse ingredient, in Korea is expected to be a key income driver for makers of pulse ingredients. The industry in Korea is also influenced by the need for medical supplies.
  • The nutritional value, sustainability, and versatility of pulse ingredients are emerging as critical factors in the food and beverage industry, positioning pulse ingredients as an important and growing sector within the market.

Challenges Limiting the Adoption of Pulse Ingredient in Korea

  • As the significance of pulse ingredients in the food business continues to rise, an exciting challenge lies in meeting the diverse demand for customizing the flavor of pulse ingredients.
  • The off-flavor of some types of pulse ingredients is caused by compounds such as aldehydes, alcohols, ketones, acids, pyrazines, and sulfur derivatives. The consumer perception of the bitter taste of pulses is projected to limit the growth of the pulse ingredient industry.
Nandini Roy Choudhury
Nandini Roy Choudhury

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Comparative View of Adjacent Pulse Ingredient Industries

Apart from the pulse ingredient industry in Korea, our analyst has compiled reports on two additional related industries. Similarly, these two industries are also centered on pulse ingredients. Specifically, the named industries are the pulse ingredient industry in Western Europe and the pulse ingredient industry in Japan.

Pulse Ingredient Industry Korea:

Attributes Pulse Ingredients Industry Korea
Value-based CAGR (2023 to 2033) 7.7%
Industry Trends expanding consumer awareness of the health advantages and sustainability of pulses
Growth Factors increased customer preference for food for protein-rich foods

Pulse Ingredients Industry Western Europe:

Attributes Pulse Ingredients Industry Western Europe
Value-based CAGR (2023 to 2033) 5.4%
Industry Trends Increased health concerns and a preference for products with clean labels
Growth Factors Individuals' health consciousness is growing across the region

Pulse Ingredients Industry Japan:

Attributes Pulse Ingredients Industry Japan
Value-based CAGR (2023 to 2033) 6.6%
Industry Trends Increased need for the dietary supplement
Growth Factors Increasing aging population in the country

Category-wise Outlook

The pulse ingredients industry report in Korea is divided into two sections: product type and pulses type. As far as the product type is concerned, the flour segment rules the roost. On the other hand, depending on pulse type, peas are the holding the green flag by dominating the industry.

The Flour Segment Dominates the industry by Product Type

The flour segment is expected to capture an industry share of 52.3% in 2023. This dominance is attributed to the presence of numerous proteins, iron, and fibers in pulse flour, making it in high demand. Pulse flour can be used in a variety of recipes, including cookies, pasta, and puddings.

As consumers increasingly seek vegan and plant-based protein sources, the demand for pulse flour is expected to rise. Pulses in the form of flour are highly versatile, making them suitable for incorporation into multiple plant-based dishes.

Attributes Details
Product Type Flour
Industry Share in 2023 52.3%

The Peas Segment Dominates the by Pulses Type

The peas segment is expected to hold an industry share of 51.1% in 2023 due to the increased use in various food products in the country. Moreover, the growing incorporation of pea protein in wellness supplements and healthy food products also contributes to the growth of this segment in the country.

Attributes Details
Pulses Type Peas
Industry Share in 2023 51.1%

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Competitive Landscape in the Pulse Ingredient Industry in Korea

The rising consumer preference for vegetarian and vegan diets is projected to boost growth in the pulse ingredient industry in the coming years. The increasing demand for gluten-free and clean-label food items is anticipated to offer opportunities for industry participants to capitalize on unfulfilled potential. As a result of current developments, several leading industry players are focusing on various expansion tactics to sustain future growth. Product innovation, acquisitions, collaborations, and expansions are likely to remain popular methods for industry participants looking to gain a competitive advantage.

Recent Developments in the Pulse Ingredient Industry in Korea

  • In 2021, Korea's leading food manufacturer, CJ CheilJedang, launched a new line of plant-based meat products made with pulse ingredients.
  • In 2022, Korea's prime dairy company, Binggrae, launched a new line of dairy-free ice cream made with pulse ingredients.
  • In 2023, Korea's top bakery company, SPC Group, launched a new line of bread made with pulse ingredients.

Key Companies

Adroit Food Ingredient Co., Ltd.:

Adroit Food Ingredient Co., Ltd. is a rapidly expanding company specializing in manufacturing high-quality pulse ingredients. Adroit has established itself as a key player in the food industry through a commitment to excellence. The company enjoys providing innovative and nutritious pulse-based solutions to meet customers' demands.

Ajinomoto Co., Inc.:

The pulse ingredient production industry at Ajinomoto is based on its patented fermentation process. The company employs this method to develop a range of pulse components, including L-glutamate, the key component of umami. Pulses from Ajinomoto are used in a wide range of food products, including soups, sauces, snacks, and ready-to-eat meals.

Pulse Ingredient Industry in Korea Players

  • Adroit Food Ingredient Co., Ltd.
  • Ajinomoto Co., Inc.
  • Archer Daniels Midland Company (ADM)
  • Cargill Incorporated
  • Ingredia
  • Ingredion Inc.
  • Kerry Group plc
  • Korea Grain & Feed Trading Corporation (KGF)
  • Sensus Natural Ingredient Ltd.
  • SunOpta Inc.
  • Symrise AG
  • Tate & Lyle plc

Scope of the report

Attribute Details
Estimated Industry Size in 2023 US$ 574.74 million
Projected Industry Size by 2033 US$ 1,202.02 million
Anticipated CAGR between 2023 to 2033 7.7% CAGR
Historical Analysis of Demand for Pulse Ingredient Industry in Korea 2018 to 2022
Demand Forecast for Pulse Ingredient Industry in Korea 2023 to 2033
Report Coverage Industry Size, Industry Trends, Key Insights for Pulse Ingredient Industry in Korea, Insights on Global Players and Leading Industry Strategy in Korea, Ecosystem Analysis of Local and Regional.
Key Companies Profiled Adroit Food Ingredient Co., Ltd.; Ajinomoto Co., Inc.; Archer Daniels Midland Company (ADM); Cargill Incorporated; Ingredia; Ingredion Inc.; Kerry Group plc; Korea Grain & Feed Trading Corporation (KGF); Sensus Natural Ingredient Ltd.; SunOpta Inc.; Symrise AG; Tate & Lyle plc

Key Segments

By Source:

  • Lentil
  • Peas
  • Chickpeas
  • Beans

By Product Type:

  • Flour
  • Starch
  • Protein
  • Fiber and Grits

By Application:

  • Bakery
  • Confectionery
  • Sauces
  • Dairy and Ice-cream
  • Spreads and Toppings
  • Others (Ready to Eat Meals, Baby Food, and Snacks)

Frequently Asked Questions

What is the Industry Size of the Pulse Ingredient in Korea?

In 2023, the size of the pulse ingredient in Korea is estimated to be US$ 574.74 million.

What is the Trend in the Pulse Ingredient in Korea?

Increased use of pulse ingredient in the food industry and healthy meals in the country is one of the key trends in Korea.

What is the Future Outlook of Pulse Ingredient in Korea?

The demand for pulse Ingredient in Korea is expected to progress at a healthy CAGR of 7.7% from 2023 to 2033.

What is the Projected Pulse Ingredient Industry Size in Japan for 2033?

By 2033, the size of the pulse ingredient Industry in Korea is forecasted to reach US$ 1,202.02 million.

Who are the Prominent Players in the Pulse Ingredient Industry in Korea?

Nippon Starch (Nihon Denpun Co., Ltd.), Kyowa Hakko Bio Co., Ltd., Mitsubishi Chemical Corporation, Matsutani Chemical Industry Co., Ltd., Sun Chemical Corporation, Hayashibara Co., Ltd.are some of the prominent players in the pulse ingredient Industry in Korea.

Table of Content

1. Executive Summary

    1.1. Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Product Life Cycle Analysis

    3.5. Supply Chain Analysis

        3.5.1. Supply Side Participants and their Roles

            3.5.1.1. Producers

            3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)

            3.5.1.3. Wholesalers and Distributors

        3.5.2. Value Added and Value Created at Node in the Supply Chain

        3.5.3. List of Raw Material Suppliers

        3.5.4. List of Existing and Potential Buyer’s

    3.6. Investment Feasibility Matrix

    3.7. Value Chain Analysis

        3.7.1. Profit Margin Analysis

        3.7.2. Wholesalers and Distributors

        3.7.3. Retailers

    3.8. PESTLE and Porter’s Analysis

    3.9. Regulatory Landscape

        3.9.1. By Key Regions

    3.10. Regional Parent Market Outlook

    3.11. Production and Consumption Statistics

    3.12. Import and Export Statistics

4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033

    4.1. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis, 2018 to 2022

    4.2. Current and Future Market Size Value (US$ Million) & Volume (Tons) Projections, 2023 to 2033

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Form

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Form, 2018 to 2022

    5.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Form, 2023 to 2033

        5.3.1. Hard

        5.3.2. Soft

    5.4. Y-o-Y Growth Trend Analysis By Form, 2018 to 2022

    5.5. Absolute $ Opportunity Analysis By Form, 2023 to 2033

6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Type

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Type , 2018 to 2022

    6.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Type , 2023 to 2033

        6.3.1. Spreadable

        6.3.2. All-Purpose

        6.3.3. Butter Blend

    6.4. Y-o-Y Growth Trend Analysis By Type , 2018 to 2022

    6.5. Absolute $ Opportunity Analysis By Type , 2023 to 2033

7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Application

    7.1. Introduction / Key Findings

    7.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Application, 2018 to 2022

    7.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Application, 2023 to 2033

        7.3.1. Bakery

        7.3.2. Confectionery

        7.3.3. Sauces

        7.3.4. Dairy and Ice-Cream

        7.3.5. Spreads & Toppings

        7.3.6. Others (Ready to Eat Meals, Baby Food, and Snacks)

    7.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022

    7.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033

8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region

    8.1. Introduction

    8.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Region, 2018 to 2022

    8.3. Current Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Region, 2023 to 2033

        8.3.1. South Gyeongsang

        8.3.2. North Jeolla

        8.3.3. South Jeolla

        8.3.4. Jeju

        8.3.5. Rest of Korea

    8.4. Market Attractiveness Analysis By Region

9. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033

    9.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022

    9.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033

        9.2.1. By Form

        9.2.2. By Type

        9.2.3. By Application

    9.3. Market Attractiveness Analysis

        9.3.1. By Form

        9.3.2. By Type

        9.3.3. By Application

    9.4. Key Takeaways

10. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033

    10.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022

    10.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033

        10.2.1. By Form

        10.2.2. By Type

        10.2.3. By Application

    10.3. Market Attractiveness Analysis

        10.3.1. By Form

        10.3.2. By Type

        10.3.3. By Application

    10.4. Key Takeaways

11. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033

    11.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022

    11.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033

        11.2.1. By Form

        11.2.2. By Type

        11.2.3. By Application

    11.3. Market Attractiveness Analysis

        11.3.1. By Form

        11.3.2. By Type

        11.3.3. By Application

    11.4. Key Takeaways

12. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033

    12.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022

    12.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033

        12.2.1. By Form

        12.2.2. By Type

        12.2.3. By Application

    12.3. Market Attractiveness Analysis

        12.3.1. By Form

        12.3.2. By Type

        12.3.3. By Application

    12.4. Key Takeaways

13. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033

    13.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022

    13.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033

        13.2.1. By Form

        13.2.2. By Type

        13.2.3. By Application

    13.3. Market Attractiveness Analysis

        13.3.1. By Form

        13.3.2. By Type

        13.3.3. By Application

    13.4. Key Takeaways

14. Market Structure Analysis

    14.1. Competition Dashboard

    14.2. Competition Benchmarking

    14.3. Market Share Analysis of Top Players

        14.3.1. By Regional

        14.3.2. By Form

        14.3.3. By Type

        14.3.4. By Application

15. Competition Analysis

    15.1. Competition Deep Dive

        15.1.1. FOODWELL CORPORATION

            15.1.1.1. Overview

            15.1.1.2. Product Portfolio

            15.1.1.3. Profitability by Market Segments

            15.1.1.4. Sales Footprint

            15.1.1.5. Strategy Overview

                15.1.1.5.1. Marketing Strategy

                15.1.1.5.2. Product Strategy

                15.1.1.5.3. Channel Strategy

        15.1.2. Archer Daniels Midland Company

            15.1.2.1. Overview

            15.1.2.2. Product Portfolio

            15.1.2.3. Profitability by Market Segments

            15.1.2.4. Sales Footprint

            15.1.2.5. Strategy Overview

                15.1.2.5.1. Marketing Strategy

                15.1.2.5.2. Product Strategy

                15.1.2.5.3. Channel Strategy

        15.1.3. AGT Food and Ingredients

            15.1.3.1. Overview

            15.1.3.2. Product Portfolio

            15.1.3.3. Profitability by Market Segments

            15.1.3.4. Sales Footprint

            15.1.3.5. Strategy Overview

                15.1.3.5.1. Marketing Strategy

                15.1.3.5.2. Product Strategy

                15.1.3.5.3. Channel Strategy

        15.1.4. Anchor Ingredients

            15.1.4.1. Overview

            15.1.4.2. Product Portfolio

            15.1.4.3. Profitability by Market Segments

            15.1.4.4. Sales Footprint

            15.1.4.5. Strategy Overview

                15.1.4.5.1. Marketing Strategy

                15.1.4.5.2. Product Strategy

                15.1.4.5.3. Channel Strategy

        15.1.5. SunOpta

            15.1.5.1. Overview

            15.1.5.2. Product Portfolio

            15.1.5.3. Profitability by Market Segments

            15.1.5.4. Sales Footprint

            15.1.5.5. Strategy Overview

                15.1.5.5.1. Marketing Strategy

                15.1.5.5.2. Product Strategy

                15.1.5.5.3. Channel Strategy

        15.1.6. Axiom Foods

            15.1.6.1. Overview

            15.1.6.2. Product Portfolio

            15.1.6.3. Profitability by Market Segments

            15.1.6.4. Sales Footprint

            15.1.6.5. Strategy Overview

                15.1.6.5.1. Marketing Strategy

                15.1.6.5.2. Product Strategy

                15.1.6.5.3. Channel Strategy

        15.1.7. Batory Foods

            15.1.7.1. Overview

            15.1.7.2. Product Portfolio

            15.1.7.3. Profitability by Market Segments

            15.1.7.4. Sales Footprint

            15.1.7.5. Strategy Overview

                15.1.7.5.1. Marketing Strategy

                15.1.7.5.2. Product Strategy

                15.1.7.5.3. Channel Strategy

        15.1.8. ROQUETTE

            15.1.8.1. Overview

            15.1.8.2. Product Portfolio

            15.1.8.3. Profitability by Market Segments

            15.1.8.4. Sales Footprint

            15.1.8.5. Strategy Overview

                15.1.8.5.1. Marketing Strategy

                15.1.8.5.2. Product Strategy

                15.1.8.5.3. Channel Strategy

        15.1.9. Dakota Dry Bean Inc.

            15.1.9.1. Overview

            15.1.9.2. Product Portfolio

            15.1.9.3. Profitability by Market Segments

            15.1.9.4. Sales Footprint

            15.1.9.5. Strategy Overview

                15.1.9.5.1. Marketing Strategy

                15.1.9.5.2. Product Strategy

                15.1.9.5.3. Channel Strategy

        15.1.10. Cosurcra

            15.1.10.1. Overview

            15.1.10.2. Product Portfolio

            15.1.10.3. Profitability by Market Segments

            15.1.10.4. Sales Footprint

            15.1.10.5. Strategy Overview

                15.1.10.5.1. Marketing Strategy

                15.1.10.5.2. Product Strategy

                15.1.10.5.3. Channel Strategy

16. Assumptions & Acronyms Used

17. Research Methodology

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