The lupin protein market is expected to grow at a CAGR of 4.9% during the period 2023-2033. The market is expected to hit a valuation of US$ 159.7 million by 2033. As of 2023, the market is valued at US$ 98.8 million.
The lupin protein is one of the healthiest foods since it contains amino acids. Additionally, being a good source of protein makes it very well-liked by those who are health-conscious. These are also high in fibre, which makes them a preferred element for people trying to lose weight.
Additionally, a rise in the popularity of vegetarianism and veganism has increased the consumption of goods made from plants. As a result, consumers have begun using lupin protein products to compensate for their protein deficiencies. This could increase demand for items containing lupin protein during the course of the predicted period.
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The demand for clean-label products has soared in recent years. This is due to consumers becoming more conscious of the importance of buying real products. Products containing lupine protein typically have clear labelling, which opens up a vast market.
In addition, the use of lupin protein products ensures little environmental deterioration. First of all, it does away with the instances of animal slaughter for dietary purposes, which results in carbon emissions. Second, soil that is somewhat productive can be used to cultivate lupin seeds. These all point to a little level of investment being required.
Due to the negative effects of consuming gluten, there has recently been an increase in the demand for gluten-free products. Lupin protein products have established themselves as beneficial substitutes for gluten-containing goods, presenting a wide range of business potential.
However, a few instances of adverse reactions have been connected to the use of lupin products. This can limit market expansion during the anticipated period.
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Thus, the FMI researchers are of the view that, “the ability to provide requisite levels of protein and fiber, coupled with the increase in the number of vegans and vegetarians, and a plenty of other factors are expected to surge the lupine protein market share during the forecast period.”
Key Takeaways:
- The lupin protein market is projected to grow at a CAGR of 4.9% during the forecast period.
- The market is valued at US$ 98.8 million in 2023.
- The market is expected to reach a valuation of US$ 159.7 million by 2033.
- As per the regional analysis, Europe is expected to be the largest market during the forecast period.
- USA lupin protein market is expected to advance at a CAGR of 6.5%.
- UK market is projected to grow at a CAGR of 2.6%.
- China market is anticipated to surge at a CAGR of 6.4%.
- Japan lupin protein market is projected to grow at a CAGR of 3.6%.
- South Korea market is expected to grow at a CAGR of 4.9%.
- Based on product type, the protein isolates segment is expected to hold the largest market share, and is anticipated to grow at a CAGR of 4.6%.
- Based on nature, the conventional segment is projected to hold the largest market share, and is expected to grow at a CAGR of 4.2%.
Competitive Landscape
The key players operating in the market are investing massive amounts in the technological upgradation. The intention is to scale up the production at a time when the demand for lupine protein-based products is surging. Apart from that, there are also massive investments being made on the R&D aspect of the business.
In October 2022, Barentz International acquired Viachem, which is a specialty distributor of life science ingredients and speciality chemicals.
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Lupin Protein Market Segmentation
By Product Type:
- Protein Isolates,
- Protein Concentrates,
- Flour,
- Other Product Types
By Nature:
- Organic,
- Conventional
By End Use:
- Food Processing (Bakery & Confectionary, Dairy Replacements, Functional Foods, Infant Foods, Meat Alternatives, Other Food Applications),
- Animal Feed (Cattle, Poultry, Swine, Pet Food, Aquafeed),
- Nutraceuticals,
- Sports Nutrition,
- Infant Nutrition
By Processing Type:
- Dry Processing,
- Wet Processing
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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