Pulse Protein Market: Overview
Rapid rise in awareness of the significance of protein rich diet is predicted to mark notable growth in the pulse protein market over the 2019-2029 forecast period. High nutrient content in pulses, mainly protein is a key factor behind its increasing consumption for nutrition. Further, pulses have lower prices as compared to other sources of protein, which make them affordable by most economic classes.
Key parameters based on which the pulse proteins market is divided are source, end use, application, distribution channel, and region. Key segments of the pulse protein market based on source are beans, lentils, peas, and others.
The report on pulse protein market brings forth valuable information to serve as an all-important tool for the said market for the 2019 – 2029 forecast period. Demand drivers, growth opportunities, and competitive outlook of the pulse protein market are some aspects that are discussed at length in this report.
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Pulse Protein Market: Competitive Landscape
The pulse protein market is highly fragmented with the presence of a large number of local and key players. Integration of modern technologies and automated processes is what key players in the pulse protein market are striving for to consolidate their foothold.
Prominent players in the pulse protein market include Ingredion Incorporated, Axiom Foods Inc., Bob’s Red Mill Natural Foods, Farbest Brands, Kerry Inc., Cargill Incorporated, NOW Health Group Inc., and MORRE-TEC Industries Inc.
Pulse Protein Market: Key Trends
Abundant availability and high protein value of pulses is a key factor behind booming pulse protein market. Low cost of production of pulses and long shelf life makes them preferred among farmers for cultivation of the crop.
Besides this, due to the continuous rise in demand for pulse protein from the food and beverages sector, rising production of pulse protein is opening new opportunities in the pulse protein market. To tap into these opportunities, even large meat producing companies are venturing into the production of pulse protein. For example, U.S. based Tyson Foods Inc., a giant meat processing company, is investing in U.S. based Beyond Meat Inc., which is a leading company for plant-protein based food products.
Moreover, high prevalence of food allergies is driving demand for clean label food products. Pulse protein is suitable as it is free from allergens such as chemical additive and gluten.
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However, on the downside, low penetration of pulse protein in developing and underdeveloped countries and low consumer awareness of significance of protein for health benefits is slowing the growth of pulse protein market in these regions.
Pulse Protein Market: Regional Assessment
Europe holds large share in the pulse protein market and is expected to continue to do so in the forthcoming years. Abundant production of various types of pulses along with their high consumption makes Europe a leading region in the pulse protein market.
North America is another key region in the pulse protein market. This is mainly because of high consumption of pulses for their protein content and high nutritional value in the region.
Asia Pacific is anticipated to witness substantial growth in the pulse protein market in the years ahead. Rapid rise in awareness of significance of protein-rich diet and customary consumption of pulses as part of traditional diets in several parts of the region fuel pulse protein market in the region. Further, increasing shift to plant-based protein for their health benefits is likely to bolster the pulse protein market in the region.
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