The lupin protein market is estimated to be worth USD 103.3 Million in 2024. It is projected to reach USD 167.2 million by 2034, reflecting a CAGR of 4.9% over the assessment period 2024 to 2034.
The market for lupin protein has been increasing at a fast pace, owing primarily to its adoption in the food industry, given its fiber and low-fat profile, and the enhanced demand from consumers who are increasingly health-conscious and looking for plant-based alternatives. With wide-ranging applications in snacks and meal replacement, this lupin protein has created for itself a space as a superfood ingredient.
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 the health-conscious people. Moreover, these are rich in fiber as well, which makes it a popular ingredient amongst those who are into weight loss.
Furthermore, an increase in the adoption of veganism and vegetarianism has led to an 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.
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. The lupine protein products generally come with clean label, 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 emission. Secondly, the lupin seeds can be grown on a 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. The lupin protein products have proved to be healthy alternative for the 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.
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.”
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.
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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