High Demand for Nutritious Ingredients Invigorates Lentil Protein Market: Future Market Insights

DUBAI, U.A.E. , Aug. 18, 2020 /PRNewswire/ -- According to a new market study by Future Market Insights (FMI), the lentil protein market is forecasted to expand at a CAGR of 4.9% between 2020 and 2030.

The report suggests that the surging demand for allergen-free natural products is expected to act as the major growth driver to the market. As per the statistics of the Food and Drug Administration (FDA) and the Centers for Disease Control & Prevention (CDC), around 32 million people in the U.S. representing around 10% of the population have some form of food allergy.

The prevalence of food allergies is asserting consumers to seek allergen-free products, thus bestowing a revenue opportunity of lentil protein which finds significant adoption in the production of allergen-free food products. With over 170 food products being linked to allergic reactions, the growing demand for allergen-free food will continue to propel the demand for lentil protein.

Owing to its strong nutritional profile, lentil protein is finding adoption among athletes and fitness enthusiasts as a post-workout food source. On these lines, the demand for lentil protein has witnessed a substantial uptick in the sports nutrition sector, thus further fuelling the growth of the market.

"Backed by growing demand for high quality and nutritious protein ingredients, lentil protein has become an enriching source of proteins for livestock, and this will continue to complement the demand for the years to come.", opines FMI analyst.

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Lentil Protein Market - Key Takeaways

• Surging demand for lentil protein among food, sports nutrition, nutraceutical, and infant formula products is expected to drive the market on a remunerative path through the forecast period.
• Dry processing segment, which accounted for nearly 2/3rd of global market value in 2020, will hold the lion's share based on the processing type.
• Among types of products, lentil protein isolates accounted for over 45% volume share in 2020 and will remain the most sought-out product type through the forecast period.
• Increasing consumption of lentil protein in bakeries and confectioneries is expected to channel a prominent share of revenue to the market.

Lentil Protein Market - Key Trends

• Rising awareness among consumers pertaining to health, wellness, and animal well-being is driving the demand for lentil protein.
• Increasing incidence of obesity, diabetes, heart diseases, and other lifestyle disorders is asserting consumers to seek food products with low content of sugar, salt, and fats, thus creating opportunities for the lentil protein market.
• A paradigm shift among consumers from animal-based proteins to alternative, paint-based proteins is encouraging market players to upscale their production capacity.

Lentil Protein Market -Regional Analysis

• North America is projected to maintain hegemony over the regional landscape through the forecast period and will expand at an impressive CAGR of 7% owing to high demand.
• Europe will also remain a prominent region backed by high awareness among consumers regarding the benefits of consuming lentil protein.
• Asia Pacific and Latin America are expected to grow at a healthy rate in the years to come owing to shifting consumer preference for plant-based products.

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Lentil Protein Market - Competitive Landscape

Some of the key players studied in the report include Archer Daniels Midland Company, Cargill Inc., Parabel USA Inc., Henry Broch Foods., Ingredion Inc., BI Nutraceuticals, Inc., Biorefinery Solutions, GEMEF Industries, Vestkorn Milling AS, and AGT Food and Ingredients. Market players are focusing on expanding their product portfolio and production capacity of plant-based protein ingredients to tap on revenue opportunities.

Lentil Protein Market - Taxonomy

Product type:

• Protein isolates
• Protein concentrates
• Flour
• Other product types.

End-use:

• Food processing
• Animal feed
• Nutraceuticals
• Sports nutrition
• Infant nutrition.

Process type:

• Wet processing
• Dry processing

Region:

North America

• U.S
• Canada

Latin America

• Brazil
• Mexico
• Argentina
• Rest of Latin America

Europe

• EU-5
• BENELUX
• Russia
• Poland
• Rest of Europe

South Asia

• India
• Pakistan
• Sri Lanka

East Asia

• China
• Japan
• South Korea

Oceania

• Australia
• New Zealand

Middle East & Africa

• GCC
• Turkey
• South Africa
• Rest of MEA

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Get Valuable Insights into the Lentil Protein Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global lentil protein market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the lentil protein market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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SOURCE Future Market Insights