The lupin market boasts numerous benefits, primarily its role in sustainable agriculture. Lupins are nitrogen-fixing legumes that improve soil quality, reducing the need for synthetic fertilizers. They also have high protein content and are gluten-free, making them a sought-after ingredient in the food industry, particularly in plant-based products. Lupin's dominating segment lies in the food and beverage industry, where it's used in products such as plant-based milk, gluten-free flour, and protein-rich snacks, catering to health-conscious consumers seeking nutritious and sustainable alternatives to traditional ingredients.
According to Data Bridge Market Research, the Global Lupin Market will grow at a CAGR of 4.45% during the forecast period of 2022-2029.
“Increasing number of vegans and vegetarians boost the market’s growth”
The increasing number of vegans and vegetarians is a significant factor driving the growth of the lupin market. Lupins are a rich source of plant-based protein, making them an ideal choice for individuals following vegan and vegetarian diets. They are used to create various plant-based products such as lupin-based milk, meat alternatives, and snacks, catering to the growing demand for sustainable and protein-rich alternatives in the food industry. This trend aligns with consumers' desire for healthier and environmentally friendly food options, propelling lupins' popularity.
What restraints the growth of the global lupin market?
“Dearth of awareness restraints the market’s growth”
The lupin market encounters a significant constraint in the form of a dearth of awareness. Many consumers and businesses remain unfamiliar with the multiple benefits and potential applications of lupins. This limited knowledge results in a restricted demand for lupin-based products, impeding market growth.
Segmentation: Global Lupin Market
The global lupin market is segmented on the basis of form, application, and type.
- On the basis of form, the lupin market is segmented into seeds, flakes, protein concentrates, and flour.
- On the basis of application, the lupin market is bifurcated into dietary supplements, food and poultry and livestock feed, Personal care and cosmetic, confectionery products, bakery products, sauces, vegan sausages, and non-dairy milk drinks.
- On the basis of type, the lupin market is segregated into protein isolates, protein concentrates, and lupin flour.
Regional Insights: Asia-Pacific dominates Global Lupin Market
The Asia-Pacific region maintains its dominance in the lupin market, with a trend expected to persist from 2022 to 2029. This is primarily driven by the increasing demand for lupins to help lower cholesterol levels and improve digestion among consumers in the region. As health-consciousness grows and lupin-based products gain popularity for their nutritional benefits, the Asia-Pacific market is poised to flourish further, solidifying its position as a key player in the lupin industry.
In the forecast period of 2022-2029, North America and Europe are anticipated to experience substantial growth in the lupin market. This growth can be attributed to the increasing demand for cost-effective protein sources in livestock and poultry feed. Lupins, known for their protein-rich content and sustainability, are becoming popular choices in animal agriculture. As a result, these regions are expected to see a rising trend in the utilization of lupins as a cost-effective and nutritious protein source for livestock and poultry.
To know more about the study visit, https://www.databridgemarketresearch.com/ko/reports/global-lupin-market
The Prominent Key Players Operating in the Global Lupin Market Include:
- Barentz International B.V. (Netherlands)
- Golden West Foods Pty Ltd (Australia)
- Soja Austria (Austria)
- Eagle Foods Australia (Australia)
- TERRENA SHYAM INDUSTRIES (India)
- Organic Spices Inc. (U.S.)
- NOW Foods (U.S.)
- Frontier Co-op (U.S.)
- Raab Vitalfood GmbH (Germany)
- SELET HULLING PLC (Ethiopia)
- Dipasa USA Inc (U.S.)
- ETICO (Netherlands)
- Dhaval Agri Exports (India)
- SunOpta (Canada)
- Ethics ORGANIC (U.K.)
- Samruddhi Organic (India)
- 24 MANTRA ORGANIC (India)
- HL Agro Products Pvt. Ltd. (India)
- Just Organik (India)
- Orienco (Netherlands)
- SHILOH FARMS (U.S.)
- McCormick & Company, Inc. (U.S.)
- Wholefood Earth (U.K.)
- KTC Edibles (U.K.)
- Saitaku (Netherlands)
Above are the key players covered in the report, to know about more and exhaustive list of global lupin market companies contact, https://www.databridgemarketresearch.com/ko/contact
Research Methodology: Global Lupin Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
