New York, July 12, 2022 (GLOBE NEWSWIRE) -- The U.S. cereal grain & pulse derivatives market is predicted to surge ahead at a CAGR of 6.9% and attain revenue of US$ 10 Bn by the end of 2032, as per in-depth industry analysis by Persistence Market Research.
Growing customer preference for a healthy lifestyle is a major factor influencing the demand growth of cereal grain & pulse derivatives. Food manufacturers are adding functional additives to food products to meet this demand. These derivatives provide many functional benefits and contain plenty of essential nutrients and fibers that are required by the human body.
Grain derivatives are utilized in the preparation of food products to improve the taste, texture, and flow ability, and preserve moisture content, which increases the shelf life of products. Consumers are looking for foods that are of small portion sizes, yet deliver various benefits. As a result, functional ingredients are used in breakfast cereals, breads, pastas, bakery products, supplement bars, and many other food products. Overall, the increasing usage of cereal grain & pulse derivatives in various food applications will drive market expansion.
Cereal grains offer a multitude of health benefits, from being a rich source of protein and fibers to not containing gluten. They are widely used in gluten-free food products, majorly in Western countries.
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The ‘on-the-go consumption’ trend is gaining traction (RTE/RTC healthy meals in the food industry). Multigrain products are also witnessing rising demand due to the presence of several nutrients in a single portion. For instance, in the U.S., buckwheat is gaining popularity as a healthy food and side dish. Buckwheat, a highly nutritive product, requires a lesser amount of cooking time and no chemicals for processing.
Overall, demand for grains is increasing owing to their beneficial properties such as high content of fiber and proteins and low gluten content.
Key Takeaways from Market Study
- Consumption of cereal grain & pulse derivatives in the U.S. is expected to be 2,611,953 tons in 2022, and is anticipated to progress at a value CAGR of 6.2% during the forecast period (2022 – 2032).
- Based on form, consumption of cereal grain & pulse flour in the U.S. is expected to be pegged at 1,189,056 tons in 2022.
- Under source, lentil derivatives are expected to provide the highest growth opportunity and reach a market valuation of US$ 128.4 Mn by the end of 2032.
- Based on application, the food & beverage industry is will see lucrative growth opportunity and register a volume CAGR of 6.3% over the forecast period.
- Total utilization of cereal grain & pulse derivatives through the business to business sector is projected to be pegged at 2,220,413 tons at the end of 2022.
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“Manufacturers of cereal grain & pulse derivatives in the U.S. would be able to acquire considerable profits by targeting food & beverage manufacturers and also the foodservice sector due to growing consumption of plant-based ingredients in finished products. Furthermore, the increasing gluten-intolerant population has also led to the higher consumption of cereal grain & pulse derivatives across regions,” says a Persistence Market Research analyst.
Competitive Landscape
Key players involved in the manufacturing of cereal grain & pulse derivatives are focused on strengthening their product portfolios by adding new products in the business line to gain new customers. U.S. market players are also prioritizing innovation and investing in advanced technology to support new product development.
- In April 2022, Ardent Mills launched new gluten-free flour blends and keto-friendly flour blends in Canada. Through this, the company has moved a step forward in product diversification and further strengthened its business.
- In September 2021, Ingredion launched Prista, a new product range of pulse flours and concentrates. The new product line includes Vitessence Prista P 360 fava bean protein concentrate, Vitessence Prista P 155 pea protein concentrate, and Homecraft Prista P 101 pea flour.
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Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the U.S. cereal grain & pulse derivatives market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032. The study offers compelling insights based on form (intact/Whole, flour), source (millet, sorghum, buckwheat, oat, quinoa, lentils, pea, chickpea), application (food & beverages industry, foodservice, retail/household), and distribution channel (business to business, business to consumer).
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