Minnesota Ag Connection - Research: Pulse Flour Market to Reach $56.62 Billion by 2024

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Research: Pulse Flour Market to Reach $56.62 Billion by 2024
Minnesota Ag Connection - 10/21/2016

The global pulse flour market is expected to reach $56.62 billion by 2024, according to a new report by Grand View Research, Inc. Pulses are primarily a very low-fat source, comprising high fiber content, and low glycemic index. The product exhibits significant advantages over rice and wheat flour. These can be fortified to obtain the necessary mix of nutrients and rare elements such as selenium, potassium, and sodium.

Enhancement of innate immune response and treatment of joint pain is foreseen to fuel the demand in gluten-free foods. Over the past few years, extensive research is being conducted by the manufacturers in order to develop new products for utilization in applications such as feed and food. The companies have also been trying to study the pulse refining techniques on new pulse varieties. This is likely to open new opportunities over the forecast period.

Further key findings from the report suggest:

-- Bakery & Snacks segment accounted for a share of over 90% in the global market in 2015. The common pulses when combined with bread are gaining more consumer attention owing to the new taste and enhanced nutritive value of the end product. The ability of the product to replicate the functional properties of other flours, without causing any side effects, is expected to propel the consumption over the forecast period.

-- Lentil accounted for a share of over 10%, in terms of revenue, in 2015. High nutritional content and easy availability of lentils are expected to fuel the demand. Increased utilization in combination with pea flour is expected to have a positive impact on the demand.

-- Europe dominated the market, in terms of revenue, in 2015. The market has witnessed an increase in development of new products over the past years. Bean based new product launches accounted for over 41.8% in 2014 while chickpea accounted for 35.0% share. In Asia Pacific, high cultivation of pulses is expected to propel the demand over the forecast period.

-- The industry is characterized by new product development and mergers and acquisition. In February 2015, Ingredion Incorporated introduced a new range of pulse flour suitable for application in a wide range of bakery food items. The launch of 10 new flours was aimed at helping the production of high nutrition and certified gluten-free food.

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