SAN FRANCISCO — The global pulse flour market was at $17.02 billion in 2015 and is expected to reach $56.62 billion by 2024, according to a report issued in October by Grand View Research, San Francisco.
The bakery and snacks segment accounted for over a 90% share of the global pulse flour market in 2015. Grand View Research expects pulse flours to have a compound annual growth rate of 14.5% within this segment from 2016-2024. When incorporated into bread, pulse flours add a new taste and an enhanced nutritive value, according to Grand View Research. The ability of pulse flours to replicate the functional properties of other flours, without causing any side effects, may propel consumption through 2024.
Grand View Research forecasts a CAGR of over 12% for pulse flour incorporation into beverage applications from 2016-2024. Pulse flours in beverages may provide a suitable alternative for children who are lactose intolerant or are allergic to soy.
Pulses are a low-fat source and have high fiber content and a low glycemic index, according to the report. Pulse flours are derived from the hulls of such pulses as peas, lentils and chickpeas. Pulse flour, when combined with its grain counterpart, may improve the overall nutritional content of a food item.
Chickpea flour accounted for over a 30% share in the global pulse flour market in 2015. Its nutritional elements such as selenium, iron, potassium, sodium and magnesium should propel the demand for chickpea flour from 2016-2024, according to Grand View Research. Lentil flour, which may be used in combination with pea flour, accounted for more than a 10% share of the global pulse flour market in 2015. Grand View Research forecasts a CAGR of over 15% in lentil flour revenue from 2016-2024.Geographically, Europe had over a 25% share of the global pulse flour market in terms of revenue in 2015. Other areas should grow revenue through 2024 with CAGRs projected for Middle East and Africa (over 16%), Asia Pacific (over 15%) and North America (13%).