Legumes market size worth US$32.34 billion by 2030

NEWARK, Sept. 19, 2022 (GLOBE NEWSWIRE) — According to the report published by The Brainy Insights, the global legume market is expected to grow from US$19.62 billion in 2021 to US$32.34 billion in 2030, at a CAGR of 5.71% over the forecast period 2022-2030.

The increasing adoption of high-protein food products is expected to drive demand from the legume ingredients industry during the forecast period. In addition, the ingredients in legumes are rich in magnesium and calcium, which help maintain bone health in weight management. This factor helps boost market growth. Also, increasing demand for healthy food ingredients and global population growth are helping to drive the market growth. However, strict international standards and regulations on quality are hampering market growth. Additionally, the demand for clean label and gluten-free foods is an opportunity for market growth.

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competitive strategy

To improve their market positions in the global Legumes Market, the major players are now focusing on executing strategies such as product innovation, mergers and acquisitions, recent developments, joint ventures, collaborations, and partnerships.

For example, in November 2021, DSM Company acquired Vestkorn Milling, one of the largest producers of bean- and pea-derived elements for plant-based protein products. In addition, this strategic move should improve the company’s product portfolio and expertise and strengthen its global reach.

Report coverage and details:

report coverage details
forecast period 2022-2030
base year 2021
Market size in 2021 $19.62 billion
Market size in 2031 $32.34 billion
CAGR 5.71%
Number of pages in the report 220
Covered Segments Source, Type, End User, Regions
driver The increasing consumer preference for protein-rich foods
occasions Consumer preference for vegan and vegetarian diets
inhibits The fluctuations in the production of legumes

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Market Growth & Trends

The growth of the legumes market is being driven by increasing globalization and increased health awareness among consumers worldwide. In addition, the growing demand for vegan and gluten-free products is the growth trend of the market. In addition, the growing global population demands sustainably produced foods that are nutritious and healthy, driving the market growth over the forecast period. A change in people’s lifestyle towards protein-based foods and higher disposable income are also driving the market growth. Furthermore, the fast growing gluten free and healthy food industry and the growth prospects for low glycemic index foods and other niche and specialty legume based products are these factors which will increase the product demand in the market growth during the forecast period.

Main results:

• In 2021, the chickpea segment dominated the market with the largest market share of 32.15% and a market revenue of 6.30 billion.

The source segment is divided into peas, lentils, chickpeas and beans. In 2021, the chickpea segment dominated the market with the largest market share of 32.15% and a market revenue of 6.30 billion. This growth is attributed to increasing demand for chickpea products such as chickpea flour.

• In 2021, the legumes segment dominated the market with the largest market share of 30.22% and a market turnover of 5.92 billion.

The type segment is divided into legume proteins, legume starch, legumes & groats and legume flours. In 2021, the legumes segment dominated the market with the largest market share of 30.22% and a market revenue of 5.93 billion. This growth is attributed to growing awareness of the benefits of legume flour. Additionally, the legumes segment is likely to dominate the market by 2030 due to the increasing demand for gluten-free products.

• In 2021, the Food and Beverage segment dominated the market with the largest market share of 41.11% and a market revenue of 8.06 billion.

The Consumer segment is divided into Feed, Food & Beverage and Other. In 2021, the food and beverage segment dominated the market with the largest market share of 41.11% and a market revenue of 8.06 billion. This growth is attributed to the increasing popularity of non-GMO products among consumers.

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Legume Ingredients Market Regional Segment Analysis:

• North America (USA, Canada, Mexico)
• Europe (Germany, France, Great Britain, Italy, Spain, rest of Europe)
• Asia Pacific (China, Japan, India, rest of APAC)
• South America (Brazil and the rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

The Asia-Pacific region was the largest market for the global legume industry, with a market share of 48.36% and a market value of approximately 9.48 billion in 2021. Asia-Pacific dominates the legume market due to rising disposable incomes and urbanization trends. In addition, higher per capita consumption of baked goods and rising hospitality and retail sales coupled with a high population also contribute to the region’s market growth. Additionally, the North American region is expected to show the fastest CAGR of 7.01% over the projection period. This growth is attributed to customers’ high propensity for legumes due to their nutritional value. In addition, the growing demand for high-protein and gluten-free products is driving the market growth in this region.

Major Players in Global Legumes Market are:

• Emsland Group
• Roquette Freres.
• AGT Food and Ingredients
• Diefenbaker Spice & Pulse.
• Westkorn
• Axiom Materials, Inc.
• Dakota Dry Bean Inc.
• Monochrome.
• SunOpta.
• Sleaford Quality Foods Ltd
• Batory foods
• US legumes
• Best Cooking Pulses, Inc.
• The Scoular Society

This study forecasts the sales at global, regional and country level from 2019 to 2030. The Brainy Insights has segmented the global Legumes market based on the below mentioned segments:

Global Legume Ingredients Market By Source:

• Peas
• Lenses
• Chickpeas
• Beans

Global Legume Ingredients Market, by Type:

• Pulse proteins
• Legume Starch
• Legumes & Groats
• Legume Flour

Global Legume Ingredients Market by End User:

• Feed
• Food and drinks
• Other

About the report:

The global legumes market is analyzed by value (USD billion). All segments have been analyzed on a global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the driving factors, opportunities, restraints and challenges to get the key insights into the market. The study includes Porter’s five forces model, attractiveness analysis, commodity analysis, supply and demand analysis, competitive position analysis, sales and marketing channel analysis.

About the Brainy Insights:

The Brainy Insights is a market research company that aims to provide companies with actionable insights through data analysis to improve their business acumen. We have a robust forecasting and estimation model to achieve clients’ goals in terms of high quality results within a short period of time. We offer both customized (custom) and syndicated reports. Our repository of syndicate reports is diverse across all categories and subcategories across all domains. Our bespoke solutions are tailored to the needs of customers, whether they are expanding or planning to launch a new product on the global market.

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