Pulse Protein Market to Undertake Strapping Growth During 2025
Pulses
are the sub-group of the legume family and have been consumed for
thousands of years. Pulses have high content of protein, carbohydrates,
vitamins, and minerals and have a low content of fat and are also a have
lower prices than most of the protein alternatives which makes them
highly important in developing and underdeveloped countries, as they
play an important role in consummating the requirement of nutrition of
exponentially increasing population. Furthermore, there is an increasing
trend among people in using alternative protein sources which are of
lower cost and more healthier when compared conventional protein source
i.e. animal and dairy.
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Pulses
meet all these requirements as they have high protein and nutritional
content, abundance availability and relatively low production cost than
its alternatives which has resulted in an increased traction of pulse
protein in the market globally. Furthermore, on the backdrop of a
continuous increase in demand for the ingredient from food &
beverages industry, existing ingredient producers included pulse protein
in their product portfolio and stimulated the global pulse protein
market. Moreover, to cater the business opportunities in plant based
protein market due to the growing appetite for protein around the world
has influenced even the meat processor giants such as Tyson Foods Inc
which a U.S. based company to invest into U.S. based Beyond Meat, Inc
which produces plant-protein based food products.
Global
Pulse Protein market can be segmented on the basis source, end use
application, distribution channel, and region. On the basis of source,
pulse protein market is segmented into beans, peas, lentils, and others.
On the basis of end use application pulse protein market is segmented
into bakery, energy bars/supplements, snacks, breakfast cereals,
noodles/pasta, dairy products, and others. On the basis of the
distribution channel, Pulse Protein market is segmented into direct and
indirect sales. Indirect sales can be sub-segmented into modern trade,
specialty stores, online retail, and convenience stores. Under indirect
sales segment, online retail sub-segment is anticipated to increase with
highest CAGR owing to increasing preference among millennials to shop
from e-commerce coupled with increasing penetration high-speed internet
globally
On
the basis of geography, the Pulse Protein market is segmented into
North America, Latin America, Europe, Asia-Pacific, and MEA. Globally,
among all regions, Europe is expected to be the largest market for the
Pulse Protein, followed by North America over the forecast period owing
to the relatively high consumption products rich in protein content as
there is increasing trend of product launches marked high protein
labels. However, Asia Pacific is anticipated to witness rapid growth
over the forecast period owing to the lower prices of Pulse Protein
based products than its alternatives protein sources, rising population
and growing consumer preferences for the food products rich in
nutritional content in countries such as China and India.
There
is an increasing demand for protein rich food products globally, which
has translated into rising number of mainstream product launches marked
with high protein label. Furthermore, there is an increase in demand for
plant based protein as it is healthier and affordable which is
anticipated to drive the growth of global pulse protein market over the
forecast period. Moreover, growing demand for clean label food products
in developed market is expected to boost the growth of pulse protein
market as pulse protein is free from allergens such as gluten, chemical
additive, and are sourced sustainably. However, lower penetration of
pulse protein market in developing economies and lower consumer
awareness are the factors expected to restrain the growth of pulse
protein market over the forecast period.
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Some
of the major players operating in Pulse Protein market includes
Ingredion Incorporated, Kerry Inc, Axiom Foods, Inc, Cargill,
Incorporated, Bob’s Red Mill Natural Foods, NOW Health Group, Inc.,
Farbest Brands, MORRE-TEC Industries, Inc., and other regional players.
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