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The legumes market size is estimated to grow at a CAGR of 5.45% between 2022 and 2027. The market size is forecast to increase by USD 4,542.42 million. The growth of the market depends on several factors, including the growing consumption due to health benefits, the increasing demand for a healthy diet, and the increasing adoption of legumes in food applications.
This legumes market report extensively covers market segmentation by type (beans, peas, and others), end-user (household and commercial), and geography (South America, North America, APAC, Europe, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing demand for a healthy diet is notably driving the market growth, although factors such as the presence of various substitutes may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for a healthy diet is the key factor driving the growth of the global legumes 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 global legumes market during the forecast period.
High consumption of legume-based snacking items is the primary trend shaping the global legumes 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 global legumes 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 global legumes market in the forecast period.
The report includes the adoption lifecycle of the market, 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 growth strategies.
Global Legumes Market Customer Landscape
Vendors 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 vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the beans segment will be significant during the forecast period. Beans are predominantly used in salads, food ingredients, and snacks. They are also available as canned products with various dressings as ready-to-eat or ready-to-cook food and snacks.
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The beans segment was valued at USD 11,353.53 million in 2017 and continue to grow by 2021. 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.
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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 legumes 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 legume 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 legumes market in South America during the forecast period.
COVID-19 had a mixed impact on the legumes market in South America. However, in 2021, the initiation of large-scale vaccination drives?has lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Such factors are expected to drive the market during the forecast period.
The legumes market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global legumes market as a part of the global packaged foods and meats products market under the global food products segment of the global food, beverage, and tobacco market. The global packaged foods and meats products market covers manufacturers or food processing vendors that are involved in food processing to eliminate microorganisms and extend shelf life. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Legumes Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.45% |
Market growth 2023-2027 |
USD 4,542.42 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.85 |
Regional analysis |
South America, North America, APAC, Europe, and Middle East and Africa |
Performing market contribution |
South America at 42% |
Key countries |
US, Canada, China, Brazil, and Argentina |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, 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., NutriAsia Inc., Teasdale Foods Inc., Mitsubishi Corp, and Nomad Foods Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our 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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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