Legumes Industry Will Rise Due to Growing Popularity of Functional Foods and Beverages
Legumes Market Scope:
The legumes market could anticipate growth at a slow rate of
5.3% between 2022 and 2030, expects Market Research Future (MRFR). By 2030, the
overall market size shall be around USD 17.25 billion, which indicates
promising growth prospects.
Market Growth Boosters and Key Impediments:
Burgeoning demand for convenient food products, in view of
the surging working population worldwide, particularly in dual income
households, favors the Legumes
Market. With the rise in health concerns among people, the demand
for a variety of legumes has rapidly surged, given their high nutritive content
including proteins. Besides, the mounting prevalence of ethnic foods is leading
to a higher inclusion of chickpeas and lentils in various dishes.
Legumes have extremely highly nutrition value, as these
contain carbohydrate, protein, B vitamins, fiber, iron, copper, magnesium,
manganese, zinc, and phosphorous. Moreover, legumes are saturated fat free,
cholesterol-free and low-fat products, which is a huge factor for consumers
that are health conscious. This factor also renders legumes quite preferable
among vegans and vegetarians. Also, the COVID-19 has fostered the preference
for various legumes, as consumers continue to stock up on healthy essentials.
The trend of panic shopping has been favorable for the legumes industry.
Market Segmentation:
The legumes industry has been considered for source, product
type, and end use.
The various sources of legumes are peas, lentils, beans, and
others. Beans are extremely popular, known for their significant nutritional
value and their inclusion in a variety of cuisines. Beans are particularly
popular among the modern consumers since these legumes do not require peeling,
cooking or washing. White beans, kidney beans, navy beans, pinto beans and
black-eyed beans are some of the majorly consumers beans in North America.
Depending on product type, the market can be segregated into
oil, flour, whole, and more.
Major end users in the worldwide market are household as
well as commercial. The commercial-based segments are food service along with
food processing. The leading spot belongs to the household segment, with
families increasingly adopting a healthy lifestyle and thereby, including
healthy and nutritious food products in their diets. The commercial sector
shall also soar at a notable rate, on account of the rising number of hotels
and restaurants worldwide.
Leading Contenders:
B&G Foods (US), The Archer Daniels Midland Company (US),
Conagra Brands Inc (US), Eden Foods Inc (US), Dunns Limited (UK), Olam
International (Singapore), General Mills Inc (US), Galdisa USA (US), Nomad
Foods (UK), Puris Proteins, LLC (US), ILRAMA AGRO LLC (Uzbekistan), Nefis
Bulgar Ltd. (Turkey), BIMARKET LLC (Ukraine), AGT Foods USA (US), Anchor
Ingredients Co, LLC (US) are the top developers of Key
Legumes Market Players.
Regional Outlook:
Asia Pacific’s dominance in the legumes market is backed by
the rapidly blossoming population with significant food demand. Home to a
number of agrarian countries such as Nepal, China, India, and Japan, APAC is
touted to remain in the lead throughout the review period as demand for beans and
lentils continues to soar.
North America could project substantial growth over the
upcoming period, given the rising number of US consumers increasingly opting
for processed pulses and beans due to their high nutrition and convenience.
Consumers in Canada on the other hand, are including legumes in their daily
meals for their significant nutritional value, affordability and convenience to
serve. Pinto, navy, great northern, red kidney and black beans are some of the
most consumed beans in North America.
The United Kingdom, France and Germany are the major
performers in Europe while Netherlands, Romania and Denmark offer lucrative
opportunities to the legume manufacturers. Mounting consumer inclination
towards plant-based substitutes for meat and the huge demand for lentils and
kidney beans will augment the market attractiveness in the future.
Industry Developments:
February 2022: Global Food and Ingredients or GFI acquires
YoFiit, the Canadian granola, chickpea and snack milk brand owned by Your
Fitness Dish Inc. GFI is a plant-based brand with primary focus on a variety of
legumes and various high-protein specialty crop ingredients.
Related Reports:
Baking
Ingredients Market Research Report Information By Fusion Type
(Emulsifiers, Leavening Agents, Enzymes, Baking Powders & Mixes, Oil, Fats
& Shortenings, Starch And Others), By Application Bread, Cookies &
biscuits, Rolls & pies, Confectionary and others), And By Region (North
America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till
2030
Rapport
d'étude de marché sur la propolis : informations par type de produit
(capsules et comprimés, spray, extrait, etc.), catégorie (à base d'alcool et
sans alcool), canal de distribution [en magasin (supermarchés et hypermarchés,
magasins de proximité et autres) et hors magasin] et région (Amérique du Nord,
Europe, Asie-Pacifique et reste du monde) et prévisions jusqu'en 2030
Probiotika-Markt:
Informationen nach Typ (Bifidobacterium, Lactobacillus und andere), Anwendung
(Functional Food & Beverages, Nahrungsergänzungsmittel, Tierernährung und
andere) und Region (Nordamerika, Europa, Asien-Pazifik, Südamerika und
Mittlerer Osten und Afrika) - Prognose bis 2030
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