The global pulse ingredients market is estimated to reach $25.9 billion by 2027, growing at a 4.6% compound annual growth rate (CAGR). The global market size was valued $20.7 billion in 2022.
The pulse sector is undergoing dynamic changes at global, regional and country levels, to meet the challenge of growing demand in face of sluggish production growth. Projections indicate that demand for pulse ingredients will continue to grow in the short-to-medium term in developing counties due to growing population and rising per capita income. Pulse ingredients can play a major role in providing consumers with an alternative protein source. Soy and pea protein are still responsible for most new vegan products in Europe, according to The Vegan Review. But the growing demand for plant protein is also a good opportunity to shift away from these mainstream protein crops and introduce more variety in pulses or new protein sources such as sprouted grains. This may open opportunities for new source countries that can offer attractive bean varieties with consistent quality.
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Harnessing the Nutritional Power of Chickpeas
Chickpeas, also known as garbanzo beans, have emerged as a nutritional powerhouse, boasting high levels of proteins, vitamins, minerals, carbohydrates, and dietary fiber. According to the Food and Agriculture Organization (FAO), India stands as the largest producer of chickpeas, contributing to approximately 70% of global supply in 2019. Within South Asia, chickpeas rank as the third most produced legume, following beans and peas. Cultivated in two distinct varieties - Desi and Kabuli - chickpeas cater to diverse culinary preferences worldwide. Kabuli chickpeas thrive in regions spanning West Asia and the Mediterranean, while the desi variety flourishes in the Indian subcontinent. The increased consumption and versatile applications of chickpeas in the food and beverage industry are poised to propel the growth of this segment.
Asia-Pacific: A Thriving Pulse Ingredients Market
The Asia-Pacific region stands as a thriving hub for pulse ingredients, comprising dynamic markets such as India, China, Australia & New Zealand, and Japan. FAO data from 2018 reveals that the region accounted for 49% of global pulse production, with India alone contributing a staggering 57% share. India's status as a leading producer and consumer of pulses underscores its pivotal role in the regional market. Pulse crops like chickpeas, peas, green gram, black gram, and lentils thrive in the fertile soils of the region, catering to the dietary needs of millions. The burgeoning population, coupled with rising disposable incomes and growing consumer interest in functional ingredients, is slated to drive sales of pulse ingredients in the Asia-Pacific market.
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Key Players Driving Innovation
The pulse ingredients market is propelled by key players committed to innovation and excellence. Among these industry leaders are ADM (US), Roquette Frères (France), Ingredion (US), The Scoular Company (US), Axiom Foods, Inc. (US), PURIS (US), Emsland Group (Germany), AGT Food and Ingredients (Canada), Batory Foods (US), Vestkron Milling M/S (Norway), and Dakota Ingredients (US). These companies play a pivotal role in shaping the pulse ingredients market, leveraging their expertise to meet evolving consumer demands and market trends.
In conclusion, the rise of chickpeas as a nutritional powerhouse and the dynamic growth of the pulse ingredients market in the Asia-Pacific region underscore the transformative potential of pulses in addressing global dietary needs and driving innovation in the food and beverage industry.
