The new report by Expert Market Research titled, ‘Global Pulses Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global pulses market, assessing the market based on its segments like type, end use and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): 92.33 MMT
- Forecast CAGR (2022-2027): 4.7%
- Forecast Market Size (2027): 121.41 MMT
The growth of the global pulses market is driven by the increasing health awareness among people. The increasing popularity of food products with cholesterol free and high protein is expected to propel the demand for pulses forward. The presence of antioxidants, complex carbohydrates, vitamins, and minerals such as iron, and folate is likely to aid in the growing consumption of pulses. Additionally, the demand is projected to be bolstered owing to the shifting of populace towards vegan based diet. Moreover, the rising demand of pulses in production of cereal bars, soups, ready-to-eat snacks, bakery products and pastas is anticipated to push the market over the forecast period.
Industry Definition and Major Segments
Pulses refer to the dried seeds of legume family and are known for their nutritional value. These are grown agriculturally, primarily for human and livestock consumption. Pulses are rich in proteins and have high fibre content and help reducing triglycerides and cholesterol levels.
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Based on type, the market can be segmented into:
- Chick Peas
- Kaspa Peas
- Lentils
- Pigeon Peas
- Fava Beans
- Black Gram
- Mung Beans
- Others
On the basis of end use the market is divided into:
- Home Use
- Snack Food Industry
- Others
The regional markets for pulses include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
Regionally, Asia Pacific held the largest share in the global market for pulses. India accounted for the largest share in the global market over the historical period. This can be attributed to widespread consumption of pulses in the local cuisine. Additionally, the several government schemes to increase production, enhance crop management and provide financial assistance propelled the market growth. Meanwhile, North America and Europe are anticipated to witness a significant growth rate over the forecast period owing to the rising preference for fibre rich and plant-based food along with increasing health awareness.
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Key Market Players
The major players in the market are Adani Group, ADM, and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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