Newly released data from Global Lupin Protein market size was estimated at USD 89 million in 2022, growing at a CAGR of 5.1% during the forecast period 2022-2032. Lupin market size is estimated to reach at UAD 142.4. Mn by 2032
According to the market research analysis, Prolupin GmbH, The Protein Bread Company, Costantino & SpA, Frank Food Products, Lup Ingredients, Barentz International are identified as key Lupin Protein brands.
In the food and beverage industry, meat substitutes, bakery products, and confectionery are the major segments witnessing high demand, followed by snacks & cereals products.
In terms of product type segment of Lupin Protein market, protein concentrates & isolates, and confectioneries collectively accounted for USD 31 Mn in 2021, according to the Annual Market Analysis conducted by Future Market Insights.
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FMI in its report studies various factors helping the lupin protein market gain impetus across these countries.
The FMI study delves deep into the prevailing dynamics to offer interesting insights into the lupin protein market. Some of these are:
With growing awareness for benefits of plant-based products among consumers, the demand for alternatives protein has increased. This is encouraging manufacturers to develop innovative plant-based products with lupin protein as a key ingredient. According to FMI, the global lupin protein market is estimated to be valued US$ 84 Mn in the year 2020 Among the end-use segments, food processing accounts for the leading market share and boasts a value of US$ 59 Mn. It is projected to expand at a CAGR of 4.7% over the forecast period Europe accounts for the largest share in the global market owing to the awareness among consumers regarding the benefits of lupin and its products. There are large number of manufacturers located in Europe, more concentrated in EU-4, Germany, and others. Their presence is expected to boost the market in the region Lupin protein products are recently introduced in North America. However, to realize impressive growth prospects in the region, market players are required to invest increasingly in marketing their products and promoting various health benefits of lupin protein
“Plant proteins are finding increasing application as a nutritional ingredient since they are obtained from nature and are additive-free. As a result, application of plant-based protein is increasing for food & beverage and nutritional purposes, as it is pure, natural, non-GMO, enriched with amino acids, and can be easily mixed with beverages and food products,” said a lead analyst at FMI
Increasing Focus on Preventive Healthcare Anticipated to Fuel Demand for Lupin Protein
Sedentary lifestyles is often linked with the rising prevalence of lifestyle-related issues and diseases. To combat these issues, consumers are turning towards preventive healthcare and switching to healthy food with potential health benefits. Lupin is growing in popularity as a superfood and is used as key ingredient in dietary supplements, sports nutrition, nutraceuticals, and food products.
The growing popularity of lupin protein in various end-use applications is attributed to the health benefits associated with its consumption. Lupin is devoid of starch, which is very unusual for species of edible bean. It also contains moderate amount of carotenoids beta carotene, lutein, zeaxanthin, and tocopherols (vitamin E), which make it a “superfood” for today’s generation.
Lupin protein is a natural food, which has higher calcium and phosphate content than cereals. The increasing awareness regarding health and wellness among consumers has resulted in the increasing adoption of lupin protein as key ingredient across the food and beverages sector.
Who is winning?
The lupin protein market is currently at a nascent stage and the dearth of awareness is acting as a major restraint to growth. Companies operating in the market are currently focusing on product launches and spreading awareness about various health benefits to gain competitive advantage.
Companies such as Aminola, Coorow Seeds, and Lupine Protein Isolate (LPI) are focusing on various technological innovations to preserve nutritive profile of their ingredient and expand their customer reach.
Of these, Coorow Seeds is Hazard Analysis and Critical Control Point (HACCP) accredited, which ensures that under no circumstance the company will render food unsafe. Consumers are likelier to prefer food from companies with similar certifications.
Segments Covered in Lupin Protein Market Analysis
Nature
- Conventional
- Organic
End- Use
- Food Processing
- Meat Alternatives
- Bakery Products
- Confectionery
- Snacks & Cereals
- Meat-Based Products
- Others
- Animal Feed
- Livestock
- Cattle
- Swine
- Poultry
- Pet Food
- Aqua feed
- Nutraceuticals
- Sports Nutrition
- Infant Nutrition
Product Type
- Protein Isolates
- Protein Concentrates
- Flour
- Other Product Type
Process Type
- Protein Isolates
- Protein Concentrates
- Flour
- Other Product Type
Processing Type
- Dry Processing
- Wet Processing
Global
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Key Questions Answered in the Report
- How much is the current worth of Lupin protein market?
Currently Lupin protein market is worth more than USD 89 Mn.
- At what CAGR is the market expected to grow?
Lupin protein market consumption is expected to grow at a CAGR of around 5.1% during the period 2022-2032.
- How was the performance in the last five years?
In terms of revenue, Lupin protein market grew at a CAGR of around 4.7% during 2017-2021
- What is the demand outlook forecast for the Lupin protein market?
The global Lupin protein market is forecasted to surpass USD 142.2 Mn by the end of 2032.
- Who are the top 5 players operating in the market?
Prolupin GmbH, The Protein Bread Company, Costantino & SpA, FRANK Food Products, Lup Ingredients, Barentz International are expected to be the top players driving the market growth.
- How are market players reacting to the new developments in the market?
Market players are focusing on new product launches, Lupin protein distribution channels, merger and acquisition strategies to remain a prominent player in the global market.
- Which are the major countries driving demand for Lupin Protein?
The Asia pacific, U.S., and Europe are the major countries driving demand for lupin protein
- At what rate will the U.S. Lupin protein market grow?
U.S. Lupin protein market is projected to grow at a CAGR of around 26% over the next ten years.
About FMI
Future Market Insights (ESOMAR certified 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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