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The lupin market share is expected to increase by USD 7.74 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.11%.
This lupin market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers lupin market segmentation by application (animal feed, food and beverages, and others) and geography (APAC, Europe, North America, Middle East and Africa, and South America). The lupin market report also offers information on several market vendors, including ABS Food Srl, Barentz BV, Coorow Seeds, DHAVAL AGRI EXPORT LLP, Eagle Foods Australia, Ethics Organic, Golden West Foods Pty Ltd., HL Agro Products Pvt. Ltd., INVEJA SAS, Just Organik, KTC Edibles, NOW Health Group Inc., Orienco SAS, Raab Vitalfood GmbH, Samruddhi Organic Farm I Pvt. Ltd., SHILOH FARMS, Sresta Natural Bioproducts Pvt. Ltd., and SunOpta Inc. among others.
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The health benefits of lupins is notably driving the lupin market growth, although factors such as wide availability of substitute products may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the lupin industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Lupin Market Driver
One of the key factors driving the global lupin market growth is the health benefits of lupins. Lupins are one of the richest natural sources of combined protein and dietary fiber. Comprising 40% protein and 37% fiber, lupins are good sources of minerals containing prebiotic fiber and are also non-GMO and fructose free. Consumption of lupin beans promotes gut health and helps to handle irritable bowel syndrome and other conditions related to the digestive system. The high fiber content of lupin beans makes them good prebiotics, the constituents that feed good bacteria in the intestine. In addition, the high fiber content of lupin beans ensures that the stool in the gut absorbs water from the body and becomes soft. The Vitamin C content of lupin beans also promotes the absorption of iron and the formation of hemoglobin. Such factors will drive the market growth in the forecast period.
Key Lupin Market Trend
Rising awareness of the vegan diet is one of the key lupin market trends that is expected to impact the industry positively in the forecast period. A vegan lifestyle does not include anything of animal origins such as food, clothing, or any other products. It strongly favors animal rights, and vegan consumers do not consume meat. This can positively affect the market as vegan consumers seek more plant-based alternatives such as lupin beans and soybeans as their protein source. People are adopting vegan diets because of ethical concerns toward animals and for a better environment. According to PETA, approximately 2.5% of the US population is vegan. Currently, consumers prefer healthier substitutes to meat, dairy, and other conventional protein sources. Plant-based proteins such as lupin beans have given vegans a wide portfolio of food products, meeting almost all nutritional health needs. This will further support the market growth in the coming years.
Key Lupin Market Challenge
One of the key challenges to the global lupin market growth is the wide availability of substitute products. Being predominantly a protein ingredient, lupins have numerous substitutes like soy and egg proteins, which lead the protein ingredients market, followed by whey protein and casein. The increasing demand from specific end-user applications, such as sports and fitness nutrition, has, in turn, triggered the demand for animal protein ingredients. Apart from soy, proteins from peas, potato, canola, rice, and chia have emerged as prominent plant-protein ingredients. Pea protein has a protein content of 85%, which is significantly higher than other vegetable proteins. Pea protein and other plant proteins such as rice and wheat have complementary amino acid profiles, and when combined, they offer enhanced nutritional benefits. All this may hinder the market growth in the forecast period.
This lupin market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global lupin market as a part of the global agricultural products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the lupin market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the lupin market encompasses successful business strategies deployed by the key vendors. The lupin market is fragmented and the vendors are deploying growth strategies such as investments in R and D of new and innovative product variants to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The lupin market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the lupin market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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69% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for lupin in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The rise in the application of lupins both for human food and animal feed will facilitate the lupin market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak COVID-19 had a negative impact on the growth of the regional lupin market in 2020. Several countries such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines were under a partial or full lockdown to control the spread of the coronavirus. However, with rising vaccination drives, there has been a rise in food production activities in 2021 in the region. Hence, this is expected to foster the growth of the regional lupin market during the forecast period.
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The lupin market share growth by the animal feed segment will be significant during the forecast period. Lupin beans are being widely used as alternatives to soybean in all livestock species due to their high-quality protein. The significant increase in the demand for cost-effective protein foods for livestock and poultry will drive the market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the lupin market size and actionable market insights on post COVID-19 impact on each segment.
Lupin Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.11% |
Market growth 2022-2026 |
$ 7.74 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.88 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 69% |
Key consumer countries |
US, Australia, China, Japan, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
ABS Food Srl, Barentz BV, Coorow Seeds, DHAVAL AGRI EXPORT LLP, Eagle Foods Australia, Ethics Organic, Golden West Foods Pty Ltd., HL Agro Products Pvt. Ltd., INVEJA SAS, Just Organik, KTC Edibles, NOW Health Group Inc., Orienco SAS, Raab Vitalfood GmbH, Samruddhi Organic Farm I Pvt. Ltd., SHILOH FARMS, Sresta Natural Bioproducts Pvt. Ltd., and SunOpta Inc. |
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 report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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