Lupin Market Size, Share, Growth, and Industry Analysis by Type (Seeds, Flakes, Protein Concentrates, Flour), by Application (Dietary Supplements, Food, Poultry & Livestock Feed), Regional Forecast To 2031

Updated On: 22 April 2024

Lupin Market Report Overview

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global lupin market size was USD 32330 Million in 2022 and market is projected to touch 43386.6 Million by 2031, exhibiting a CAGR of 3.3% during the forecast period.

Lupin is high quality protein that is low in carbohydrates and fat and it also contains essential amino acid. It can be used as replacement of animal based proteins in both food and supplement. Beans are used to make materials such as protein, flour, and others. They are used to prepare gluten-free products and discover extensive scale use in baked goods. It can also be used as a thickening agent in sauces and can also blends well with smoothies and juices. It bean is a powerhouse of fiber, protein, and essential vitamins, which makes it popular amongst health-conscious consumers. They can be consumed raw after being soaked or instead consumed in the form of flour used in baked goods and pasta dishes. It helps in weight loss, helps in the cure of anaemia, develops bowel health, and relieves constipation. It is usually found in products such as chocolate spreads, pastes, hummus spreads, biscuits, and baked goods. Furthermore, some consumers desire low-calorie food items such as crisps made from healthy and natural ingredients as nurturing the market growth. Altering consumer dietary likings and feeling towards nutritious food products such as lupin flakes, seeds, flour and others is serving the market to grow in the upcoming years. Plant-based proteins such as lupin beans have given vegans a varied collection of food products, meeting almost all nutritional health needs. Consumption of beans supports gut health and helps to handle prickly bowel syndrome and other conditions related to the digestive system. The consumption offers various health benefits such as improving the bowel functions. Rise in the investment of companies to launch campaigns for spreading awareness also propel the growth.

COVID-19 Impact:  Pandemic hampered the market due to unexpected disruption in the sector

Covid 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. Covid 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

Latest Trends

"Use of innovative products to boost the market growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

Lupin Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into seeds, flakes, protein concentrates, flour.

Seeds capture the maximum market share through forecast period.

• By Application Analysis

According to application, the market can be segmented into dietary supplements, food, poultry & livestock feed.

Lupin market players cover segment as dietary supplements will dominate the market share during forecast period.

Driving Factors

"Increase in demand in vegan population to boost the market growth"

Promptly growing vegan population and changing dietary trends has motivated these industry which has anticipated to enhance lupin market growth. Flakes are extensively used in plant-based and vegan diets due to their high nutritional value. Vegan customers pursue more plant-based replacements such as beans and soybeans as their protein source.

"Increased awareness for health & nutritional value to upsurge the market"

The augmented awareness about the health benefits and nutritional value which ultimately has enlarged the demand as well as products made with lupin such as bakery, confectionary, sausages and others which has directed to improve number of product launches, mergers & acquisitions and other collaborations between the companies to fulfil consumer demands.

Restraining Factors

"Availability of substitute products to hamper the market growth"

Lupins have abundant substitutes like soy and egg proteins, which leads the protein ingredients market followed by whey protein also there are many side effects related to consumption. However, the side effects related such as gas, bloating, stomach ache, weakness, nausea and others is expected to restraint the market growth.

Lupin Market Regional Insights

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"Asia Pacific to dominate the region due to demand for vegan diets"

Asia Pacific is further expected to witness growth in the lupin market share. The region is dominating the market due to rising demand for vegan diets. The region has strong food service sectors such as bakery, confectionary and others, where the demand for healthier and nutritious food is reliably growing. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth.

Key Industry Players

"Key players focus on partnerships to gain competitive advantage"

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger.

List of Market Players Profiled

• Barentz International (Netherland)
• Golden West Foods (U.S.)
• Coorow Seeds (Australia)
• Soja Austria (Austria)
• Lopino Foods (U.S.)

Report Coverage

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.