The lupin protein market is anticipated to expand at a 4.9% compound annual growth rate from 2023 to 2033. By 2033, the market is anticipated to arrive at a US$ 159.7 million valuation. In 2023, the market is projected to be valued US$ 98.8 million.
Since lupin protein contains amino acids, it’s one of the healthiest foods available. Because of its higher protein content, those who value their health also pick it. Because they contain a lot of fibre, those who are attempting to reduce weight also favour them.
Plant-based products are being used more frequently, and vegetarianism and veganism are becoming more and more popular. Customers are starting to buy lupin protein supplements to meet their needs for protein. Consequently, there might be a rise in demand for goods containing lupin protein within the anticipated time frame.
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Key Takeaways:
- Market Projection: The lupin protein market is anticipated to grow at a robust 4.9% CAGR from 2023 to 2033, reaching a valuation of USD 159.7 million by 2033, compared to USD 98.8 million in 2023.
- Health Benefits: Recognized as one of the healthiest foods due to its amino acid-rich composition, lupin protein is gaining popularity among health-conscious consumers. Its high protein and fiber content make it a preferred choice for those aiming for weight loss.
- Plant-Based Trend: With the increasing popularity of vegetarianism and veganism, there is a rising demand for plant-based products, leading to a surge in lupin protein supplements to meet protein needs.
- Clean Label Demand: The market witnesses a growing demand for clean-label products, with lupin protein-containing items gaining traction due to clear labeling practices, contributing to market expansion.
- Environmental Sustainability: Lupin protein products are environmentally sustainable, contributing to minimal environmental degradation. The cultivation of lupin seeds requires moderately productive soil, aligning with eco-friendly practices.
Market Dynamics:
- Gluten-Free Demand: The market for lupin protein products is witnessing growth as a result of increased demand for gluten-free alternatives, positioning lupin protein as a beneficial substitute in gluten-free products.
- Adverse Reactions: Despite its numerous benefits, a few instances of adverse reactions associated with lupin products may pose a limitation to market expansion during the forecast period.
Key Points and Takeaways:
- CAGR Projection: The lupin protein market is projected to grow at a CAGR of 4.9% during the forecast period.
- Market Valuation: Valued at USD 98.8 million in 2023, the market is expected to reach USD 159.7 million by 2033.
- Regional Growth: Europe is anticipated to be the largest market, with the USA lupin protein market advancing at a CAGR of 6.5%. The UK market is projected to grow at a CAGR of 2.6%, while China, Japan, and South Korea are expected to exhibit significant growth.
- Product Type: Protein isolates are expected to hold the largest market share, growing at a CAGR of 4.6%.
- Nature: Conventional lupin protein products are projected to dominate the market, growing at a CAGR of 4.2%.
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:
- Key players in the market, including Cargill, Archer Daniels Midland Company, and Glanbia plc, are investing heavily in technological upgrades and research and development to meet the escalating demand for lupin protein-based products.
- In October 2022, Barentz International acquired Viachem, enhancing its capabilities in the distribution of life science ingredients and specialty 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
Consult with Our Analysts for In-Depth Analysis of the Global Protein Market Trends and Opportunities Across Various Product Types, Nature, End Uses :
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Author by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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