People are getting aware of what food they consume and its effect on health. The changing lifestyle, busy and hectic working schedules and sedentary life has led to various health-related problems. The unhealthy as well as uneven eating habits developed among the people. There is thus an increasing preference for consumption of healthy diet. Food ingredients with high protein content are high on demand and have attracted consumers. Moreover, there is an increased demand for protein from plant sources. Pulse are have been consumed by humans for thousands of years. Pulses are highly nutritious leguminous crops and are often referred as ‘superfood’ for their high protein and fiber content and low-fat content. Pulse based protein are getting popular as an alternative to conventional, animal and dairy protein sources. The rising awareness among the people about the negative effect on the environment due to excessive resources required in the production of animal protein is driving consumers towards plant-based protein. Thus more consumers are turning towards the pulse based protein. With the rising awareness and increasing demand for protein foods, the pulse based protein is expected to grow during the forecast period.
Growing Demand for Pulse Based Protein with Increasing Demand for Protein-Based Food and Beverage Products
There is increasing in demand for food and beverages fortified with high protein ingredients like pulse based protein. The growing health concern due to improper diet among people, changing lifestyle, and rise in demand for protein-rich foods are primary drivers of pulse based protein market. The growing demand for the clean labeled protein-packed food and beverage products is also driving the pulse based protein market. Pulse based proteins are used to add nutritive value to snacks and breakfast cereals. Bakery and confectionary industry use pulse based protein as a replacement for egg in baked products as well as increase the value of the product. The rise in popularity of energy bars and drinks, as well as dietary supplements, is expected to fuel the market for pulse based protein. There has been a rise in the number of people with gluten intolerance, such people seem to prefer plant based food products as an alternative to conventional food as well as have nutritional benefits, thus driving the pulse based protein market. The rising number vegan population, search for alternative protein sources like pulse based protein is expected to drive the market during the forecast period. Thus with rising demand from food and beverage industry as well as popularity as clean labeled food the demand for pulse based protein is expected to increase during the forecast period.
Global Pulse Based Protein Market Segmentation
On the basis of nature, the global pulse based protein market has been segmented as-
On the basis of application, the global pulse based protein market has been segmented as-
On the basis of type, the global pulse based protein market has been segmented as-
Global Pulse Based Protein Market: Key Players
The global pulse based protein market is competitive. Some of the key players in global pulse based protein market are, Ingredion Inc., Cargill Inc., NOW Health Group, Bob’s Red Mill Natural Food, Axiom Foods Inc., Kerry Inc., MORRE-TEC Industries, Farbest Brands, AGT Foods and Ingredients, Sunfed.
Opportunities for Market Participants:
The growing application of pulse based protein has opened a number of opportunities for market participants. The increasing “move to organic” has opened an opportunity for the market participants to launch organic pulse based protein product and increase their market presence. There is a growing demand for pulse based proteins from food and beverage industries, introduction of innovative products like clean flavor pulse based protein in order to formulate recipes without having a compromise on the taste of final products. The rising demand for meat alternative and popularity of products like plant based meat products have created a need for customized pulse based protein products. There is a rising preference for purchasing products via e-commerce portals, introduction and advertisement of pulse based protein products via e-commerce portals can help to rapidly increase market penetration.
Global Pulse Based Protein Market: Regional Outlook
Europe is expected to dominate the global pulse based protein market followed by North America during the forecast period, owing to high consumption of pulse based protein products and increased demand for food products with high protein label. Asia Pacific is supposed to be the fastest growing market for pulse based protein owing to an increase in demand for nutritional food as well as lower prices of pulse based protein.