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 presence of amino acids makes the lupin protein one of the healthiest consumables. Apart from that, being a rich source of protein also makes it quite popular amongst health-conscious people. Moreover, these are rich in fiber as well, which makes them a popular ingredient amongst those who are into weight loss.
Furthermore, an increase in the adoption of veganism and vegetarianism has led to increased consumption of plant-based products. Consequently, people have started adopting lupin protein products in order to make up for protein deficiency. This is might surge the demand for lupin protein products during the forecast period.
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Over the past few years, the demand for clean-label products has sky-rocketed. This is owing to the rising consumer awareness regarding consuming genuine products. Lupine protein products generally come with clean labels, which represents a huge scope for the market.
Apart from that, the adoption of lupin protein products ensures that not much environmental degradation is done. In the first place, it eliminates the cases pertaining to animal slaughter for fulfilling nutritional requirements, which leads to carbon emissions. Secondly, the lupin seeds can be grown on fairly fertile soil. All these factors indicate that not much amount needs to be invested.
Of late, there has been an increasing demand for gluten-free products, which can be attributed to the side effects associated with gluten consumption. Lupin protein products have proved to be healthy alternatives for gluten products, which showcases a myriad of opportunities for the market.
However, there have been a few cases of side effects that have been linked to the consumption of lupin products. This might hamper the market growth during the forecast 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
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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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