A report released at the Australian Pulse Conference in Horsham, Victoria, provides a satellite view of the Australian pulse trade, showing it is positioned at the intersection of five global 'megatrends'.
Pulse Australia chair Ron Storey said the new report plots a "road map" for Australian pulses over the next 10 years, as part of the vision for a $100 billion Australian agriculture sector by 2030.
Opening the triennial conference and launching the report, Mr Storey said the Raising the Pulse report predicts subcontinental markets will remain the backbone of Australian pulse trade for the next decade.
This market dominance is likely to persist because pulses are a staple food in subcontinent countries such as India, Bangladesh and Pakistan.
However, the report commissioned by Pulse Australia, with GRDC support, also shows the backdrop to this status quo in Australian export markets is a kaleidoscope of world megatrends which are driving new demand for pulses in traditional and emerging pulse trade.
Thetop five megatrends outlined in Raising the Pulse relate to increasingly discerning consumers; evolving value chains; disruptive technologies; world volatility; and emphasis on producing more from less.
Describing the changing patterns of pulse consumption shaping the megatrends or main drivers in global food markets, Mr Storey said: "Globally, consumer attitudes to diet - what they contain and where the ingredients come from - are changing rapidly."
"Consumer interest in healthier protein-rich diets and plant-based protein, including meat substitutes attracting media attention and investor capital, is fast evolving.
"Pulses have a significant role to play in rapidly evolving food markets demanding more protein."
Speaking at the 2019 Australian Pulse Conference, Pulse Australia chair Ron Storey said five megatrends in world food markets are shaping Australian pulse trade. PHOTO Clarisa Collis
"Pulses have a significant role to play in rapidly evolving food markets demanding more protein."
He said the increased interest in plant-based foods, particularly meat substitute products, has lifted demand for pulses as a food ingredient.
The growth trajectory of the global pulse ingredient market for products such as flour, starch, protein, protein isolates, fibres and grits, is four per cent per annum, Mr Storey said.
"New ingredients are being developed by plant protein manufacturers who are value-adding to pulse crops to produce a range of isolates, rich in protein.
"As a plentiful, cost-effective, non-allergenic alternative to soybean, demand for pulse protein isolate and powder is outstripping supply, prompting significant investment in large-scale processing capacity in Canada and China.
"Canada has tended to focus on peas, whereas faba beans are the preferred crop for a pilot protein isolate manufacturing operation to start in Horsham, Victoria, in 2020."
The report also highlights rising demand for pulses in global feed markets, Mr Storey said.
"The role of pulses as a safe, nutritious and digestible source of protein in animal feed diets should not be overlooked."
"Sustainable, cost-effective sources of protein are vital to the future of livestock production systems.
"And pulses make an important contribution to food security by providing valuable products for animal feeding."
Of the feed markets contributing to the increased demand for pulses, the pet food segment is the fastest growing, he says.
The global pet food market, drawing on pulse crops such as chickpeas and lentils for plant-based protein, has increased by six per cent per annum since 2013.
More information: Ron Storey, 0418 332 431, ron@storeymarketing.com.au; http://pulseaus.com.au/storage/app/media/uploaded-files/PA-PulseStrategy2019-A4.pdf