Pulse Protein Market: Introduction

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. 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.

Pulse Protein Market Segmentation                

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  

Pulse Protein Market: Regional Outlook

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.

Pulse Protein Market: Dynamics

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.

Pulse Protein Market Key Player:

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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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