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.
Lupin protein is one of the healthiest foods since it includes amino acids. It is also a favourite among those who are health conscious due to its high protein content. They are recommended by those wanting to lose weight because they are also high in fibre.
The use of products made from plants has increased along with the rise of vegetarianism and veganism. As a result, people have started buying lupin protein supplements to meet their protein needs. As a result, there can be an increase in demand for products that include lupin protein during the course of the anticipated time period.
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In recent years, demand for items with clean labels has skyrocketed. This is a result of consumers’ growing awareness of the value of purchasing genuine goods. Lupine protein-containing products often have clear labelling, which expands their market.
Additionally, using products containing lupin protein ensures little environmental degradation. It eliminates the practise of killing animals for human consumption, which contributes to carbon emissions. Second, lupin seeds can be grown in moderately productive soil. These all suggest that only a small amount of investment will be needed.
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.
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, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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