ID: MRFR/F-B & N/6782-HCR | 111 Pages | Author: Snehal Singh | June 2023
Legumes Market is expected to register a CAGR of 5.3% from 2022 to 2030 and reach USD 17.25 billion by the end of 2030. Legumes include beans, lentils, and peas. Lentils are rich in polyphenols, which protects from harmful ultraviolet (UV) radiations. These are also a good source of protein and iron. Beans are a good source of protein, especially when consumed with lentils. They have antioxidant properties and help lower the risk of cancer. Green peas help regulate blood sugar levels and act as immune boosters, when consumed regularly. Legumes are affordable in most of the countries around the globe and are a good source of daily recommended nutrition. Most legumes can be stored for a long duration as they are non-perishable. These factors are fueling the growth of the legumes market. Moreover, many consumers are shifting from animal-sourced food to plant-based food and food products, which is anticipated to drive the market growth.
The market has been segmented on the basis of source, product type, end use, and region. Based on source, the market has been classified as beans, lentils, peas, and others. In terms of product type, the market has been divided into whole, flour, oil, and others. By end use, the market has been bifurcated into household and commercial. The commercial segment is sub-segmented into food service and food processing.
The global market has been categorized for four key regions, namely North America, Europe, Asia-Pacific, and the rest of the world. The North American market has further been segmented into the US, Canada, and Mexico. The legumes market in Europe has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The market in the rest of the world has been segmented into South America, the Middle East, and Africa.
Global Legumes Market Share (%), by Region, 2021
Source: Secondary Sources and MRFR Analysis
Asia-Pacific is expected to dominate the global market. The market in the region is anticipated to expand at the highest CAGR during the forecast period due to rapidly increasing population leading to the increase in demand for food. Moreover, lentils are consumed on a large scale in countries such as India, Australia, and Nepal, which is expected to boost the growth of the market in the region. North America is expected to account for a significant market share during the review period owing to the increasing demand for food containing high protein and fiber. Additionally, Canada and Brazil are among the leading consumers of lentils and beans, respectively. This is anticipated to drive the growth of the legumes market in the North America and the rest of the world.
The market in the rest of the world is expected to grow at steady CAGR as the demand for legumes is increasing in South American countries such as Argentina and Chile.
|Market Size||USD 17.25 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Source, Product Type, End Use, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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), among others|
|Key Market Opportunities||Consumers are shifting from animal-sourced food to plant-based food and food products|
|Key Market Drivers||Legumes have antioxidant properties and help lower the risk of cancer|
The legumes market projected to grow at a 5.3% CAGR between 2022-2030.
Asia Pacific is the leading regional market due to rapidly increasing population leading to the increase in demand for food.
Leading players in the legumes market include 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), among others.
Major sources of legumes industry include beans, lentils, peas and others.
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