According to the latest report by IMARC Group, titled "Pulses Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global pulses market grew at a CAGR of 6% during 2014-2019. Pulses refer to a class of leguminous crops that are widely used for the preparation of a variety of dishes. They are nitrogen-fixing crops that are essential in enhancing the environmental sustainability of annual cropping systems. Considered to be a superfood, they serve as a rich source of protein, fiber, minerals, vitamins, phytochemicals, complex carbohydrates and amino acids. As a result, their regular consumption is often associated with improving digestion, lowering cholesterol levels, controlling blood sugar levels and minimizing inflammation. They also aid in preventing the development of chronic health diseases, including diabetes and obesity, which is contributing to their widespread popularity.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Pulses Market Trends:
The market is primarily driven by the growing awareness about the numerous health benefits associated with the consumption of pulses. This has led individuals to incorporate these protein-packed foods in their regular diets, which is providing a thrust to the market growth. Along with this, pulses are processed to produce flour, which is further used for the manufacturing of ready-to-eat (RTE) food products. The escalating sales of RTE products, attributed to rapid urbanization, shifting dietary preferences and hectic lifestyle, especially led by working professionals, in turn, are creating a positive outlook for the market. Furthermore, there has been a gradual shift in the consumption patterns of the masses due to the rising trend of veganism and vegetarianism on the global level. These foods are not only low in fat and cholesterol but are also rich in proteins, which has led consumers to replace animal protein [S1] with pulses. The market is further driven by the numerous favorable initiatives undertaken by the governments of major pulses-producing countries. They are aiding the farmers in reducing the supply and demand gap, caused due to the global population explosion, by offering monetary benefits and investing in the improvement of crop yield. On account of the aforementioned factors, the market is projected to exhibit moderate growth during 2020-2025.
- On the basis of the type, the market has been divided into chickpeas, kaspa peas, lentils, pigeon peas, fava beans, black gram, mung beans and others. Among these, chickpeas represent the most preferred type of pulses.
- Based on the end-use, the market has been classified into home use, snack food industry and flour industry, wherein the home use segment accounts for the majority of the total market share.
- On the geographical front, India holds the leading position in the market. Some of the other major regions include Canada, Myanmar, China and Brazil.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players.
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