The global lentil protein market is estimated to have a CAGR of 5.1% during 2023-2033, with a market size of US$ 208.3 million by 2033. The market in 2023 is likely to be around US$ 129.4 million.
Lentils are a part of the legume family, and lentil protein is derived from lentils. Lentil protein is a plant-based protein source with a strong nutritional composition that offers several health benefits. The protein and fiber content in lentils is high, which caters to the increasing awareness of plant-based protein-rich food products leading to a boost in demand for lentil protein.
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The consumer behavior pattern towards food consumption is shifting toward a more affordable and healthy plant-based protein. This shift towards veganism and environmentally friendly nutrition fuels the growth of lentil proteins in developed countries.
According to FMI research, excessive eating of meat may increase the risk of heart disease. This is another consideration that’s driving people to turn towards veganism. Thereby increasing the demand for lentil protein. Approximately 88 million people (about twice the population of California) turn to veganism as of 2023. The rising cases of obesity, diabetes, and heart disease have increased awareness among consumers, and they are actively looking for healthier lifestyle changes, including major changes in their food consumption habits.
Demand drivers of the market
- Increasing awareness and growing health consciousness.
- Adoption of veganism
- Allergen-friendly and food sensitivity considerations
- Increasing marketing efforts and education campaigns
Roadblocks in the growth of the market
- Competition from other plant-based proteins
- Limited consumer awareness about viable alternatives
- Price sensitive consumers
- Distinct taste and texture
Opportunities available for growth
- Collaboration between manufacturers, food processors and food companies.
- Expansion into the emerging market regions.
- Leverage on the growing health and wellness industry
- Incorporation in the food and hospitality industry
Threats in the market
- Regulatory hurdles and labeling requirements
- Adverse agricultural conditions
- Ingredient supply and availability challenges
- Competition from other plant-based proteins with strong consumer recognition
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Key Takeaways
- India is expected to maintain a CAGR of 5.9% through 2033.
- The growth in the lentil protein market of Germany in 2022 is calculated to have a CAGR of 9.0%.
- The CAGR in the historical period from 2018 to 2022 was 4.1%, which is expected to grow through 2033 to about 5.1%.
- The global market size is projected to be about US$ 208.3 million by 2033.
Competitive Landscape
The demand for gluten-free, organic, and vegan food continues to increase worldwide, which would require alternative plant-based proteins, thereby creating a conducive growth environment for market players. In order to leverage the opportunity, market players resort to innovation. However, the production price of lentil protein is higher, which may limit small and mid-level players to an extent.
Europe and North America are expected to continue being key market regions for lentil proteins. These regions show remarkable growth for the players in the market. Companies in Latin America and the Middle East are estimated to drive the market by creating more awareness of plant-based proteins’ health benefits and a healthy lifestyle.
Recent Developments in the Market
- A US$ 40 million investment was announced by Roquette Freres Le Romain in its Vic-sur-Aisne facility in June 2018 to increase pea processing capacity and respond to a rapidly growing market.
- In May 2019, a joint venture partnership with an investor group to build a new US$ 65 million commercial production facility for pea and canola proteins in Western Canada by Burcon NutraScience Corporation.
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Key Segment
By Product Type:
- Protein Isolates
- Protein Concentrates
- Flour
- Other Product Types
By Nature:
- Organic
- Conventional
By End Use:
- Food Processing
- Bakery & Confectionery
- Meat Alternatives
- Functional Foods
- Dairy Replacements
- Infant Foods
- Other Food Applications
- Animal Feed
- 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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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