Enjoy complimentary customisation on priority with our Enterprise License!
To learn more about this report, View Report Sample
The market is witnessing significant growth due to the increasing demand for plant-based products, particularly organic ones, in the context of healthy diets. Legumes, rich in nutritional value, offer health benefits for individuals suffering from diabetes, gastrointestinal diseases, and obesity. The market for legume-based snacks, plant-based protein, pasta, and meat substitutes is on the rise, as more people adopt vegetarianism and seek sustainable practices in food production. Food security is a major concern, and legumes play a crucial role in this regard due to their ability to fix nitrogen in the soil through a process called nitrogen fixation. This not only enhances soil health but also provides environmental benefits through carbon sequestration and disease control. Additionally, regenerative farming practices and sustainable production methods are gaining popularity, further propelling the market growth. Legumes are natural foods that offer nutritional meals, and their consumption is essential for addressing digestive problems and ensuring food safety. The development of novel products, such as legume-based pasta and snacks, is expected to fuel market growth in the coming years. Overall, the market is poised for continued growth, driven by their health benefits, sustainability, and environmental advantages.
Increasing demand for a healthy diet is the key factor driving the growth of the market. Over the past three years, the prevalence of health problems such as gastrointestinal disease, diabetes, and obesity in the global population has increased dramatically. This raises people's health awareness and promotes healthy eating habits. Therefore, the demand for legumes is increasing as they prevent and reduce the occurrence of various health problems. The increasing number of obese, overweight, and patients with diabetes has led to a strong need for protein-based fat substitutes.
Consumers are increasingly becoming aware of various problems associated with diabetes and obesity, such as cardiovascular and respiratory disorders, cholesterol, anxiety, and depression. Overweight and obese people are more prone to develop diabetes and cardiovascular diseases at a young age. Therefore, it has become a primary concern among parents to wean children off from high-calorie food and encourage them to consume more low-calorie and low-fat food such as legumes. The increasing efforts to lose weight and avoid medical complications will drive the growth of the market during the forecast period.
High consumption of legume-based snacking items is the primary trend shaping the market growth. Legumes are widely used by consumers to prepare snacks. Legumes such as chickpeas, peas, and beans are considered healthy snacks. For example, chickpeas are a healthy snack and easy to prepare. It can be easily prepared at home with added spices and is marketed as a ready-to-eat product. In Turkey, chickpeas are salted, seasoned with cloves, and roasted. It is also sometimes coated with a snack food known as reverb.
In South Asia, especially India, roasted corn is sold as a snack along with roasted chickpeas. These vendors serve fresh chickpeas roasted in traditional small pots and garnished with cilantro and lemon. Similarly, pea-based snacking products are gaining popularity in the market, with vendors such as Taking the Pea, Yushoi, Hodmedod's, and Off the Eaten Path offering pea-based snacking products in various flavors, including cheese and onion, sweet chili and lemon, and garlic and chive. New product developments in the snacking category line up with the use of various legumes during the forecast period.
The presence of various substitutes is a major challenge impeding the growth of the market. Legumes are rich in energy, protein, saturated fats, iron, and potassium. However, other food sources are available in the market that provides more nutritional benefits and is widely consumed across the globe. Some of the substitutes with high consumption rates include beef, chicken, eggs, pork, and veal. The consumption of these substitutes has been rising for the past three years and is projected to rise during the forecast period.
The global meat market is growing at a rapid rate because meat products are naturally higher in protein, energy, iron, potassium, and zinc. The higher nutrition profile of meat products is inducing consumers to purchase more of these products. The rising consumption of meat products, therefore, poses a serious threat to the growth of the market in the forecast period.
The market research report includes the adoption lifecycle of the market research and growth, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Adani Group: The company offers legumes under the brand, Adani Wilmar. Also, the company supports a wide range of sectors such as logistics, energy, airports and many more.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies , including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Get a glance at the market contribution of various segments View the PDF Sample
The beans segment was valued at USD 11.72 billion in 2018. Bean crops like fava beans and lima beans can survive rough climates, especially cold ones. Due to this fact, farmers prefer these beans as one of the popular cropping options. The wide availability of dressing variants suits the wide-ranging needs of consumers according to their regional tastes and preferences. With the growing working population globally, the need for convenient and healthy food intake is also rising. The increasing preference of people toward convenient snacks and foods will fuel the demand for beans during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
South America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in South America is a significant contributor to the region's agricultural economy. Countries like Brazil, Argentina, and Peru are among the largest producers and exporters of legumes in the world. The region's favorable climatic conditions for legume cultivation, coupled with the availability of arable land, have led to a thriving market. Legumes, such as soybeans, lentils, and beans, are staple foods in many South American countries, and their consumption is increasing due to their affordability and nutritional value. The rise in health consciousness among consumers is also driving the demand for legumes as a healthy and sustainable source of protein. Additionally, the growing demand for plant-based food products worldwide is expected to create lucrative opportunities for the market in South America during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
Legumes have gained significant attention in the food industry due to their numerous health benefits and increasing consumer awareness of healthy diets. These plant-based products, including chickpeas, lentils, beans, and peas, are rich in nutritional value and are essential components of organic products and vegetarian or vegan diets. Legumes are known to help manage health-related problems such as diabetes, gastrointestinal disease, and obesity. The market for legumes is propelled by the rising demand for plant-based protein sources and sustainable farming practices. Consumers are increasingly opting for plant-based snacks, pasta, and meat substitutes as part of their flexitarian or vegetarian/vegan diets. In addition, the food industry is emphasizing the production of novel legume-based products, such as canned legumes and processed beans, to cater to this growing demand.
Further, government support and consumer awareness campaigns have also played a crucial role in promoting the consumption of legumes. The focus on food security and natural foods has led to an increased interest in sustainable agriculture practices such as intercropping and crop rotation. Legumes offer a sustainable solution to food security and provide essential nutrients for a healthy and balanced diet. Despite their numerous benefits, the legume market faces challenges related to food safety and the need for innovation to meet evolving consumer preferences. The market is expected to continue growing as consumers seek out nutritious, sustainable, and natural food options. is expanding due to rising plant-based diets and veganism trends. Legume-based snacks and plant-based proteins cater to vegetarian diets and flexitarian trends, offering nutritional richness and health benefits. Challenges include pest management, harvesting methods, and agricultural sustainability.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
171 |
|
Base year |
2023 |
|
Historic period |
2018 - 2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 5.39% |
|
Market Growth 2024-2028 |
USD 4.71 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
5.01 |
|
Regional analysis |
South America, North America, APAC, Europe, and Middle East and Africa |
|
Performing market contribution |
South America at 42% |
|
Key countries |
US, Brazil, Argentina, China, and Canada |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Adani Group, AGT Food and Ingredients Inc., Archer Daniels Midland Co., B and G Foods Inc., Bean Growers Australia Ltd., BroadGrain Commodities Inc., Bush Brothers and Co., Co operative Group Ltd., Conagra Brands Inc., Dunnes Stores, Eden Foods Inc., Faribault Foods Inc., Fujian Chenggong Fruits and Vegetables Food Co. Ltd., Galdisa S.A. de C.V, General Mills Inc., Goya Foods Inc., Mitsubishi Corp., Nomad Foods Ltd., NutriAsia Inc., and Teasdale Foods Inc. |
|
Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
|
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Get the report (PDF) sent to your email within minutes.
Complimentary full Excel data with your report purchase.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
