Pulses Market: Global Segments, Top Key Players, Size And Recent Trends By Forecast To 2034

 

The global Pulses Market is set for robust growth over the next decade, with its market value expected to increase from USD 78.0 billion in 2024 to USD 135.2 billion by 2034, representing a CAGR of 5.7% during the forecast period. The growing demand for plant-based protein sources, coupled with shifting consumer dietary preferences, is driving the market’s expansion globally.

Asia-Pacific is projected to dominate the pulses market in terms of production and consumption, attributed to the dietary staple nature of pulses in the region. Meanwhile, North America and Europe are witnessing a surge in demand for pulses-based products, driven by a rising vegan population and increased interest in sustainable protein alternatives.

Technological advancements in pulse processing and the introduction of value-added products like pulse-based snacks, flour, and protein isolates are expanding market opportunities. Moreover, increasing awareness of the health benefits associated with pulse consumption, such as high protein and fiber content, is further boosting their adoption.

On the downside, challenges such as climate-dependent cultivation and volatile commodity prices pose risks to market stability. However, innovations in agricultural practices and government initiatives to promote pulse farming are mitigating these concerns.

Browse full Report: https://www.futuremarketinsights.com/reports/pulses-market

Key Takeaways from Market Study

• The global pulses market is projected to grow from USD 78.0 billion in 2024 to USD 135.2 billion by 2034, reflecting a CAGR of 5.7%.
• Asia-Pacific leads the market, accounting for the highest production and consumption volumes.
• Pulse-based snacks and protein isolates are the fastest-growing product categories.
• Technological advancements in processing are driving the adoption of pulses in new product segments.
• Rising veganism and increasing focus on plant-based diets in North America and Europe are significant growth drivers.

“Pulses are rapidly becoming a cornerstone of the global push towards sustainable and nutritious food systems. With their high protein and fiber content, pulses are perfectly positioned to cater to the growing demand for plant-based diets. Strategic investments in agricultural innovations and the expansion of product offerings will further fuel market growth,” - says Nandini Roy Choudhury, Client Partner at Future Market Insights.

Soaring Demand for RTE Foodstuffs to Drive the Sales of Pulses

Healthy eating has become a priority for both urban and rural consumers. As more consumers become conscious of 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 further strengthening the pulse-based instant snacks market around the world.

Market sales of pulse-based instant snacks are thus acquiring momentum globally in recent years. Pulses are being incorporated into pasta, bakery products, dry snacks, meat analogs, and cereal bars to improve their functionality. A growing focus on healthy eating is likely to sustain the demand for pulses in the long run.

Rising Government Support for Increasing Pulse Production

Governments are primarily concentrating on bridging the demand-supply gap, streamlining distribution processes by eliminating middlemen, and providing fair remuneration to the farmers. Such initiatives have yielded credible benefits, thus providing traction to pulses production, business, and market players around the world.

What are the Growth Opportunities in this Pulses Market?

1. Expansion in Processed Foods: Pulses are increasingly used in snacks, soups, and ready-to-eat meals, creating opportunities for manufacturers to innovate and cater to diverse consumer tastes.
2. Rising Veganism: Growing awareness of vegan and plant-based diets is boosting demand for pulse-derived protein alternatives.
3. Technological Advancements: Innovations in pulse farming and processing are improving yields and quality, reducing dependency on weather conditions.
4. Health & Wellness Trends: Pulses’ nutritional benefits align with rising consumer demand for healthier food options.

Key Companies & Market Share Insights

Leading companies in the Pulses Market include:

• ADM (Archer Daniels Midland)
• AGT Food and Ingredients Inc.
• Cargill, Inc.
• The Bühler Group
• General Mills, Inc.
• Ebro Foods, S.A.

These companies are actively investing in research and development, expanding their product portfolios, and forging strategic partnerships to gain a competitive edge.

Recent Developments

• October 2024: ADM launched a new range of pulse-based protein products to cater to the growing vegan population.
• June 2024: AGT Food and Ingredients announced the expansion of its processing facilities in Canada to meet rising demand.
• March 2024: Bühler Group introduced advanced pulse milling technology aimed at improving yield and quality.

Key Segments of the Report

By Product Type:

As per Pulses type, the ecosystem has been categorized into chickpea, lentils, yellow peas, and pigeon peas.

By Form:

This segment is further categorized into whole, split, flour, grits, and flakes.

By End Use Application:

This segment is further categorized into business to business (food & beverage industry, pharmaceutical industry, cosmetic industry, nutraceutical industry, animal feed industry), household retail (store-based retail), hypermarkets or 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.), and others.

By Region:

Industry analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.