Pulses Market

2020 Analysis and Review: Pulses Market by Product Type - Dry Beans, Chickpeas, Bambara Beans, et al for 2020-2030

Introduction

Pulses form an integral part of human food and come in various types. They belong to the legume family and are usually rich in fiber content, containing miniscule amounts of fat.

Pulses help reduce cholesterol and triglyceride levels within the human body. Due to this, they are extensively consumed across the world. The projections for pulses remain bullish, with a new analysis by Future Market Insights estimating 4.9% CAGR through 2030. A slight deceleration is anticipated in the short-run due to the coronavirus pandemic.

Soaring Demand for RTE Foodstuffs

Healthy eating has become a priority for both urban and rural consumers. As more consumers become conscious about the ill-effects of sedentary lives, they are switching towards fiber-rich and low-fat diets. Consequently, the popularity of ready-to-eat foodstuffs has surged.

Pulse-based instant snacks are thus acquiring momentum. Pulses are being incorporated in pasta, bakery products, dry snacks, meat analogs and cereal bars to improve the functionality. Growing focus on healthy eating is likely to sustain demand for pulses in the long run.

Rising Government Support

Since pulses are a staple diet across several developing regions, governments are extending financial support and other incentives to increase production. Countries have implemented various food programs aimed at boosting pulse production in recent years.

They are primarily concentrating on bridging the demand-supply gap, streamlining distribution processes by eliminating middlemen and provide a fair remuneration to the farmers. Such initiatives have yielded credible benefits, thus providing traction to market players.

Alternate Protein Substitutes Can Impede Growth

Market players can face stiff competition from alternative protein sources such as soybeans, hemp, flex, nuts and oilseed. In most countries, price of pulses are phenomenally high. This is generally attributed to the presence of interim entities who seek to profit from the trade.

As a result, consumption of the aforementioned substitutes has witnessed a significant spike in the recent past. Consumption of these alternatives is also associated with the increasing fad appeal. All these factors are anticipated to hinder growth prospects of the global pulses market.

Regional Outlook

APEJ Pulses Market

The Asia-Pacific excluding Japan (APEJ) pulses landscape is poised to emerge as the most lucrative market. It is likely to account for nearly 3/5th of the revenue share, expanding at a value CAGR of ~6%.

Growth is underpinned by rising urbanization, surging disposable incomes and high demand for healthy ready-to-eat and processed foods. Also, the concentration of a large population base across India and China is accelerating the need for nutritious food, prompting them to increase overall pulse production.

Amongst all countries, India is set to lead the regional market, as it is the world’s leading pulses producer. It produces nearly a quarter of the global yield and consumes nearly the same amount domestically.

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MEA Pulses Market

Non-traditional markets such as the Middle East & Africa are touted to emerge as promising growth hotspots during the assessment period. In spite of a slight deceleration due to COVID-19, growth prospects remain largely optimistic.

As concerns over excessive meat consumption on human health dawn on consumers, they are seeking healthier alternatives. Resultantly, the market for pulses is witnessing notable upsurge. According to FMI, the MEA market is likely to generate over 1/5th of the global revenue share.

High consumption of pulses is likely to be in the whole form, given the high need for good quality nutrition in countries suffering from severe hunger and malnutrition. This is largely expected to occur throughout Africa.

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Europe Pulses Market

The European pulses market size is set to expand at a CAGR of over 3% during the 2020-2030 forecast. Increasing preference for fiber rich diet is propelling the market in a positive direction.

Collectively, Spain, France and the U.K. account for 60% of the European pulse consumption. With respect to product type, dried beans are likely to be the most consumed across most countries.

This surge in pulse consumption is a consequence of increasing healthy eating habits. Consumers are slowly drifting towards plant-based foods. Therefore, several food manufacturers are foraying into potential markets across the region.

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Category-wise Insights

Dry Beans to Reach ~US$ 50 Bn by 2030

By product type, dry beans are poised to be widely consumed, capturing nearly 45% of revenue. Dry beans are a rich source of essential micronutrients such as potassium and iron.

Chickpeas market is likely to ride the coattails, generating 1/4th of the global revenue and expanding at a value CAGR of 7%. Presence of a high fiber content along with essential vitamins is driving the segment’s growth.

Pulses Market Trend: Organic Gaining Momentum

Rising demand for clean-label foodstuffs is rapidly boosting popularity of organic pulses. Excessive usage of chemical fertilizers and pesticides has degenerated product quality, reducing the nutrient content and replacing it with toxic substances.

Concerned by this, governments and healthcare specialists are advocating the use of natural fertilizers and supplements during the production process. According to FMI, the organic pulses segment is set to expand at a noteworthy 7.9% CAGR from 2020-2030.

Pulse Flour to Expand Fastest by Form

The pulse flour segment is projected to acquire maximum traction, expanding at a CAGR of 6.2%. Pulse flour is extensively used in various food preparations as they contain higher protein compared to gluten-based flours. Also, high prevalence of gluten-intolerance is driving the pulse flour market positively.

However, whole pulses shall remain a lucrative category, owing to the rising requirement of fibers by the human body. The segment is expected to generate over 40% of the global revenue in the forthcoming decade.

E-Commerce Procurement Gaining Ground

With the onset of COVID-19, e-commerce platforms are acquiring popularity as consumers and distributors rely on virtual platforms to procure their merchandize. The same holds true for the pulses market. A staggering CAGR of ~9% is predicted for this segment.

At the same time, store-based retailing is not expected to lose popularity, accounting for over eight out of ten sales of pulses and pulse-derived products. The hypermarkets segment is expected to remain the most preferred source of purchase by consumers.

COVID-19 Impact Analysis

As the COVID-19 pandemic tightens its grip around the world, the global pulses market has experienced minor deceleration. This is mostly due to constraints in transporting finished products to the market. Fortunately, this setback is eroding with easing of lockdown restrictions.

Moreover, growth 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 rely on platforms such as Big Basket, Amazon and Grofers to purchase pulses.

Furthermore, the trend of healthy eating has augmented, 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.

Global Pulses Market- Competitive Landscape

The global pulses market is interspersed with several prominent vendors. In FMI’s report, the following players have been profiled*:

  • Nestle SA,
  • Groupe Danone,
  • Reckitt Benckiser Group Plc (RB)
  • Abbott Laboratories Inc.
  • Vitasoy International Holdings Ltd
  • Inner Mongolia Yili Industrial Group Co Ltd.
  • Coca-Cola Co
  • General Mills Inc.
  • Blue Diamond Growers
  • Kikkoman Corporation
  • Dr. Schär AG/SpA
  • Lactalis Groupe
  • Valio Oy
  • Post Holdings Inc.
  • Monde Nissin Corp.

*This list is indicative- full details about the global pulses market players is available upon request.

The primary emphasis of the global pulses market players lies on introducing innovative and customized products based on customer-specific requirements. Additionally, strategic collaborations, partnerships and ventures are relied upon as well.

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 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 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.

Global Pulses Market- Report Scope

Attribute

Details

Forecast Period

2020-2030

Historical Data Available for

2015-2019

Market Analysis

US$ Mn for Value & Tons for Volume

Key Regions Covered

North America, Latin America, Europe, APEJ, Japan, Oceania and Middle East & Africa

Key Countries Covered

U.S., Canada, Brazil, Mexico, Germany, Italy, France, U.K., Spain, BENELUX, Russia, Poland, China, India, South Korea, ASEAN, Japan, Australia, New Zealand, GCC, Northern Africa & South Africa.

Key Segments Covered

Product Type, Nature, Form & End Use Application

Key Companies Profiled

Nestle SA, Groupe Danone, Reckitt Benckiser Group Plc (RB), Abbott Laboratories Inc., Vitasoy International Holdings Ltd, Inner Mongolia Yili Industrial Group Co Ltd., Coca-Cola Co, General Mills Inc., Blue Diamond Growers, Kikkoman Corporation, Dr. Schär AG/SpA, Lactalis Groupe, Valio Oy, Post Holdings Inc., and Monde Nissin Corp.

Report Coverage

Market Overview, Market Background, Value Chain Analysis, Market Dynamics, Demand Analysis, Segmental Overview, Regional Profiling, Market Structure Analysis & Competition Analysis

Customization & Pricing

Available upon Request

Key questions answered in the report

  • What will be the pulses market size in 2030?

    The global pulses market is expected to embark on an impressive trajectory, exceeding US$ 100 Bn by 2030. Even after considering the impact of COVID-19, growth prospects remain highly positive for the forecast period.

  • Which is the most widely consumed pulse type?

    According to FMI, dry beans are likely to be the most widely consumed pulse type in the forthcoming decade, attributed to their high nutritional value and presence of vital nutrients.

  • What drives the global pulses industry?

    Augmenting demand for healthy ready-to-eat foodstuffs is impelling the global pulses market. Various food companies are introducing pulse based snacks to cater to this soaring demand. Moreover, heightened government support to accelerate pulse production is also driving growth.

  • What are the key challenges for pulse producers and suppliers?

    A major impediment to the pulses market is availability of alternative substitutes which are equally rich in essential nutrients. Crops such as peanut, hemp, flex and soybean are becoming highly popular amongst the current generation, thus tilting demand.

  • Which is the largest pulse market globally?

    APEJ is expected to generate lucrative growth prospects, capturing nearly 60% of the global revenue share by 2030. Growth is majorly underpinned by high demand for healthy and nutritious foods. Also, unconventional markets such as the Middle East & Africa are also slated to yield green spaces.

  • What has been the impact of COVID-19 on Pulses Market?

    The COVID-19 pandemic has moderately impacted the global pulses market, with logistical constraints disrupting the demand-supply equation in the initial months. However, presently, growth is being sustained by increased e-commerce transactions by residential as well as commercial establishments.

    The trend of healthy eating by consumers to consolidate their immune systems is majorly driving demand for pulses and associated foodstuffs across all prominent markets. Thus, expansion prospects appear highly optimistic.

  • Which are the prominent players in the global pulses landscape?

    Prominent players profiled in the global pulses market report include, but are not restricted to, Nestle SA, Groupe Danone, Reckitt Benckiser Group Plc (RB), Abbott Laboratories Inc., Vitasoy International Holdings Ltd, Inner Mongolia Yili Industrial Group Co Ltd., Coca-Cola Co, General Mills Inc., Blue Diamond Growers, Kikkoman Corporation, Dr. Schär AG/SpA, Lactalis Groupe, Valio Oy, Post Holdings Inc., and Monde Nissin Corp.

Enquiry before Buying

  • Is this global pulses market report compiled by Future Market Insights?

    Yes, the global pulses market research has been conducted by expert analysts of Future Market Insights through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to the research analyst

  • What research methodology is followed by FMI?

    FMI follows a methodology that encompasses the demand side assessment of the market, and triangulates the same through a supply side analysis. This methodology is based on use of standard market structure, methods and definitions.

  • Who are the respondents for primary research?

    FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request. 

  • Is a sample of this report available for evaluation?

    Yes, you can request a sample and it will be sent to you through an email.

  • How can I buy this report?

    FMI provides a secure online payment system to buy report seamlessly. You can buy the report securely and safely.

Key Segments

Product Type

  • Dry Beans
  • Lentils
  • Faba Beans
  • Dry Peas
  • Chickpeas
  • Cowpeas
  • Bambara Beans
  • Pigeon Peas
  • Vetches

Nature

  • Organic
  • Conventional

Form

  • Whole
  • Flour
  • Split

End Use Application

  • B2B
  • Food & Beverage Industry
  • Pharmaceutical Industry
  • Cosmetic Industry
  • Nutraceutical Industry
  • Animal Feed Industry
  • Household/Retail
  • Store-based Retail
  • Hypermarkets/Supermarkets
  • Convenience Stores
  • Mass Grocery Retailers
  • Wholesale Stores
  • Departmental Stores
  • Food & Drink Specialty Stores
  • Other Retail Forums
  • Online (E-commerce)
  • Food Service (HoReCa)
  • Institutional (Schools, Universities, etc.)

Region

  • North America (U.S & Canada)
  • Latin America (Brazil, Mexico & Rest of Latin America)
  • Europe (Germany, Italy, France, U.K., Spain, BENELUX, Russia, Poland & Rest of Europe)
  • APEJ (China, India, South Korea, ASEAN Countries & Rest of APEJ)
  • Japan
  • Oceania (Australia & New Zealand)
  • Middle East & Africa (GCC, South Africa, Northern Africa & Rest of MEA)

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