Pulse ingredients in Korea are gaining traction due to rising demand for plant-based, gluten-free, and protein-rich foods. With versatile applications in soups, snacks, and baked goods, the industry benefits from an aging population's preference for natural, clean-label, and health-focused products, driving robust market growth.
NEWARK, DE / ACCESSWIRE / November 25, 2024 / The Korean pulse ingredient market is experiencing remarkable growth, fueled by rising health consciousness and increasing demand for plant-based, protein-rich, and gluten-free foods. In 2023, the market was valued at USD 574.74 million and is expected to more than double by 2033, reaching USD 1,202.02 million with a robust compound annual growth rate (CAGR) of 7.7%.
This promising outlook positions Korea as a significant contributor to the global pulse ingredient industry, particularly in the B2B sector. The rapid expansion reflects a growing shift toward sustainable and clean-label products, appealing to both consumers and investors alike.
Market Overview and Demand Dynamics
Pulse ingredients, derived from lentils, peas, chickpeas, and beans, are versatile components widely used in soups, sauces, baked goods, snacks, and desserts. In Korea, they are also available in forms like protein, fiber, and flour, aligning with increasing consumer preferences for natural and functional foods.
The rising health consciousness among Koreans, coupled with the adoption of plant-based diets, has spurred demand for pulse ingredients. Notably, Korea's aging population is turning to protein-rich diets, contributing significantly to the growth of this market.
Government initiatives promoting sustainable agriculture and increased domestic production of pulses have also bolstered the market. Additionally, the growing popularity of vegan and flexitarian lifestyles is driving innovation and investment in pulse-based products.
Key Drivers of Growth
1. Health and Wellness Trends
The demand for protein-rich, low-fat, and high-fiber food products is a key driver of Korea's pulse ingredient market. Pulse ingredients offer nutritional benefits such as improved heart health and reduced risk of chronic diseases, making them a preferred choice for health-conscious consumers.
2. Expanding Applications
Pulse ingredients' versatility makes them a popular choice for food manufacturers. From gluten-free flours for baking to pea proteins in supplements and ready-to-eat snacks, their applications are vast.
3. Rise of Clean-Label and Sustainable Products
With consumers increasingly scrutinizing food labels, clean-label pulse ingredients with no artificial additives have gained traction. Sustainability concerns also make pulses an attractive option due to their low environmental footprint compared to animal protein sources.
4. Aging Population's Preference for High-Protein Diets
South Korea's aging population has shown a growing preference for high-protein diets. This trend is driving demand for pulse-enriched protein products, including snacks, soups, and meal replacements.
"The pulse ingredient industry in Korea is poised for strong growth, driven by increasing consumer demand for plant-based, protein-rich, and gluten-free products. The shift towards natural, clean-label foods and the aging population's focus on health are key factors propelling the market forward in the coming years.,"- says Nandini Roy Choudhury, Client Partner at Future Market Insights
Challenges Facing the Market
1. Flavor Customization and Off-Taste Concerns
One of the most significant hurdles is addressing the off-flavors associated with certain pulse ingredients. Compounds such as aldehydes and ketones can impart bitter or undesirable tastes, potentially limiting their appeal in specific food applications.
2. Consumer Perceptions
Despite their nutritional value, some consumers perceive pulse-based products as less flavorful than traditional food items, posing a challenge for manufacturers to innovate in flavor customization.
3. Competition from Alternative Protein Sources
The rise of other plant-based proteins like soy and almond could pose competition for pulse ingredients, requiring strategic positioning in the market.
Trends Shaping the Demand for Pulse Ingredient in Korea
Pulse ingredients are frequently found in a wide range of foods, including soups, sauces, bread goods, dinners, snacks, and sweets. They are available in several forms, including flour, protein, and fiber.
The industry is experiencing growth driven by the rising demand for plant-based and gluten-free products, coupled with the increasing acceptance of protein-rich food items.
Korea is anticipated to play a significant role in generating revenue for pulse ingredient manufacturers. This is due to the growing elderly population consuming various protein-rich products, including pulse ingredients.
The pulse ingredient industry is growing due to the rising demand for natural ingredients and clean-labeled food items. Consumers are adjusting their diets to incorporate more natural and organic products, attracted by the high vitamins and minerals content in pulse ingredients.
The increased customer preference for protein-rich foods, such as pulse component protein, is driving the pulse ingredient industry's growth in Korea. Given the health benefits provided by these products' high protein content, there is a growing demand for pulse-derived components such as pea protein, pea flour, and pea starch.
The increased number of aged people who consume various protein-rich products, including pulse ingredient, in Korea is expected to be a key income driver for makers of pulse ingredients. The industry in Korea is also influenced by the need for medical supplies.
The nutritional value, sustainability, and versatility of pulse ingredients are emerging as critical factors in the food and beverage industry, positioning pulse ingredients as an important and growing sector within the market.
Challenges Limiting the Adoption of Pulse Ingredient in Korea
As the significance of pulse ingredients in the food business continues to rise, an exciting challenge lies in meeting the diverse demand for customizing the flavor of pulse ingredients.
The off-flavor of some types of pulse ingredients is caused by compounds such as aldehydes, alcohols, ketones, acids, pyrazines, and sulfur derivatives. The consumer perception of the bitter taste of pulses is projected to limit the growth of the pulse ingredient industry.
Competitive Development of Pulse Ingredient Market in Korea
A growing trend towards vegetarian and vegan diets is expected to fuel the growth of the pulse ingredient market during the forecast period. Rising demand for gluten-free and clean-label food products is expected to give opportunities to players in the market to leverage untapped potential.
Consequently, on the back of such developments, many of the key players in this industry are found to be investing in different strategic expansion modes to maintain their growth momentum over the forecast period. Product innovation, acquisitions, collaborations, and expansions are likely to continue as favored routes for the industry participants to gain an upper hand.
Recent Developments in the Pulse Ingredient Industry in Korea
In 2021, CJ CheilJedang, Korea's leading food manufacturer, launched a new line of plant-based meat products made with pulse ingredients.
In 2022, Binggrae, Korea's prime dairy company, launched a new line of dairy-free ice cream made with pulse ingredients.
SPC Group, one of the largest bakery companies in Korea, released a new line of bread that uses pulse-based ingredients, in 2023.
Adroit Food Ingredient Co., Ltd.
Adroit Food Ingredient Co., Ltd. is a rapidly expanding company specializing in manufacturing high-quality pulse ingredients. Adroit has established itself as a key player in the food industry through a commitment to excellence. The company enjoys providing innovative and nutritious pulse-based solutions to meet customers' demands.
Ajinomoto Co., Inc.
The pulse ingredient production industry at Ajinomoto is based on its patented fermentation process. The company employs this method to develop a range of pulse components, including L-glutamate, the key component of umami. Pulses from Ajinomoto are used in a wide range of food products, including soups, sauces, snacks, and ready-to-eat meals.
Detailed Market Study: Full Report and Analysis https://www.futuremarketinsights.com/reports/pulse-ingredient-industry-analysis-in-korea
Pulse Ingredient Industry in Korea Players
Adroit Food Ingredient Co., Ltd.
Ajinomoto Co., Inc.
Archer Daniels Midland Company (ADM)
Cargill Incorporated
Ingredia
Ingredion Inc.
Kerry Group plc
Korea Grain & Feed Trading Corporation (KGF)
Sensus Natural Ingredient Ltd.
SunOpta Inc.
Symrise AG
Tate & Lyle plc
Key Segments
By Source:
Lentil
Peas
Chickpeas
Beans
By Product Type:
Flour
Starch
Protein
Fiber and Grits
By Application:
Bakery
Confectionery
Sauces
Dairy and Ice-cream
Spreads and Toppings
Others (Ready to Eat Meals, Baby Food, and Snacks)
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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