Global Pulses Market - Increasing Production Drives Market Growth | Technavio

Technavio has published a new market research report on the global pulses market from 2018-2022. (Graphic: Business Wire)

LONDON--()--The global pulses market is expected to grow at a CAGR of close to 5% during the period 2018-2022, according to a new market research study by Technavio.

The report presents a comprehensive research of the global pulses market by product, including beans, peas, and chickpeas. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

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Market driver: increasing production of pulses

One of the major growth drivers of the global pulses market is the increasing production of pulses across the globe. The demand for pulses is growing in APAC, primarily driven by the increasing consumption in India. The producers are increasing the production to meet the growing demand for pulses, which is further expected to increase during the forecast period. Global pulses production has increased by more than 50% between 2000 and 2017. India is a leading producer, consumer, and importer of pulses worldwide.

According to a senior analyst at Technavio for food research, “India is the largest producer of pulses and accounts for about 25% of the global production. India is followed by Canada that accounts for about 7.5% of the global pulses production. The area under pulse cultivation is also increasing and is anticipated to increase further during the forecast period.”

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Market trend: online trends

The growth of the e-commerce businesses across the world has presented an opportunity for the players to increase their profitability. As of 2016, the e-commerce channel accounted for approximately 12% of the world’s retail trade. The online and e-commerce channels support both business-to-business (B2B) and business-to-consumer (B2C) operations. The amount of money spent online and the number of transactions, which take place online are increasing rapidly worldwide. The growing number of internet users and the surging internet penetration are also fueling the growth of this retail channel. For instance, internet retailing is anticipated to gain popularity in the APAC region during the forecast period because of the increasing number of internet users in the region.

Market challenge: increasing contamination in pulses

One of the major challenges hindering the growth of the global pulses market is the rising contaminations of pulses. Product contamination can negatively affect the health of the consumers and the revenue stream and the goodwill of a company. Sometimes companies issue product recalls because of product contamination, and this can result in additional financial liability for the company.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The global pulses market is expected to grow at a CAGR of close to 5% during 2018-2022, according to a new market research study by Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com