Sales of Pulse Ingredients on an Uptick; Online Delivery Channels Gain Momentum amid COVID-19 Pandemic

Greater uptake of natural and organic
products is the growth engine of pulse ingredients market. Soaring demand for
gluten-free and clean-label products is inflating the sales of pulse
ingredients. Moreover, stringent lockdown protocols are augmenting the demand
for convenient and healthy products such as pulse ingredients in households.

In the beginning of travel and
movement restrictions, consumers resorted to panic purchasing of easy-to-store
pulse ingredients. Soon after, supermarket shelves were seen empty as retailers
struggled to restock the products. However, as some restrictions are eased in
certain parts of the world, manufacturers are able to fulfill the unprecedented
demand through various capacity expansion strategies.

According to analysts of Future Market Insights (FMI),
the global pulse
ingredients market
will exceed US$ 3 Bn by 2029 end. Changing market
dynamics amid the ongoing outbreak has added to the uncertainty surrounding the
future. For instance, the first quarter of 2020 witnessed fluctuation in prices
of pulse ingredients with prices going down in March and rising up again in
April. As a result, companies are stockpiling the products as consumers
continue to hoard pulse ingredients.

The trend is projected to continue
through the second quarter of 2020 as COVID-19 shows no signs of slowing down
anytime soon. As gymnasiums are closed to slow the spread of pandemic,
consumers have shown greater inclination towards healthy lifestyle by
exercising and eating right. This factor is contributing substantially to the
revenue pool of pulse ingredients market.

Sample Copy with Table of Contents

Rise of Plant-based Proteins Assist Sales

Owing to versatile nature and several
nutritional benefits of pulse flour, the segment is witnessing profuse growth
in the wake of pandemic. Pulse flour is highly rich in fibers, protein, and
iron and is used to make puddings, pasta, and cookies amongst various other
applications. Apart from food & beverages industry, the consumption of
pulse flour is prevalent in animal feed industry as well. Sales of pulse flour
are receiving tailwinds from rising preference for plant-based protein sources.
In the midst of limited options, pulse flour continues to offer consumers
different recipes and nutritional benefits that they are in dire need of.

Asia Pacific Generates Prolific
Demand amid the Pandemic

The regional pulse ingredients market
in Asia Pacific has registered noteworthy growth due to billions of people in
countries such as India and China generating a surge in demand. In view of
current lockdowns, consumers continue to opt for online delivery of pulse
ingredients as they are reluctant to step out of their homes. Further, rapid urbanization
in these emerging Asian economies will bode well for market during the forecast

The FMI study offers near and
long-term growth outlook of the pulse ingredients market. Gain access to
FMI’s exclusive COVID-19 tracker here

Source: Pulse
Ingredients Market to Surge at above 5.2% CAGR, Coronavirus Outbreak May Impact
Growth, says FMI

FMI Blog

Leave a Reply

Your email address will not be published. Required fields are marked *