Lupin Market Segment Analysis By Product Type
On the basis of product type market for Lupin is categorized in Flour, Protein Concentrates, Flakes, and others. The flour segment in the Lupin market held the largest share in the Lupin market. Lupin flour is high in protein and fiber is made from sweet lupin beans as well as Thiamine, riboflavin, vitamin C, calcium, potassium, phosphorus, magnesium, iron, and zinc are among the nutrients included in lupin flour. Lupin flour is widely used in making cakes, pancakes, bread, and others which is increasing the Lupin market. However, Protein Concentrates is estimated to register a higher CAGR of 3.08% during the forecast period 2021-2026 owing to it has high dietary value, lack of lactose, gluten, and cholesterol, as well as the unique amino acid or mineral profile, make them suitable for usage as a food supplement.
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Lupin Market Segment Analysis By Application
On the basis of the application market for Lupin is categorized in Food & Beverage, Dietary Supplements, Animal Feed, Cosmetics and Others. The food and beverage segment in the Lupin market held the largest share. Increasing usage of Lupin in various food products such as breads, pasta, and others increased to enhance the texture of products. Rising consumption of high protein food products across the globe is also increasing the Lupin market. However, confectionery is estimated to register a higher CAGR of 4.01% during the forecast period 2021-2026 as Lupins are commonly used in livestock feed as a source of protein and energy due to their high protein content, which makes them a significant resource for monogastric animals.
Lupin Market Segment Analysis By Geography
Europe dominated the Lupin market with a major share of 40% in 2020. This is attributed to the increasing usage of lupin in the food and beverage industry coupled with the presence of a large no of the manufacturer in this region. Furthermore, growing awareness about the benefits of Lupin as it is low in calories which is good for health is contributing to the growth of the market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the growing consumption of high protein food products in this region. The growing food and beverage industry coupled with the rising preference of the people towards low calories food products in this region is also increasing the growth of the market in this region.
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Lupin Market Drivers
Increasing Demand for Lupin, as a result of The Increasing Prevalence Of Cardiovascular Diseases
Increasing demand for lupin owing to the rising prevalence of cardiovascular diseases among people across the globe is increasing the growth of the Lupin Market. Lupins are high in bioactive components like phytoestrogens and phytosterols, which can help prevent cancer, heart disease, and other illnesses. According to, World Health Organization (WHO), Cardiovascular diseases (CVDs) are the leading cause of death worldwide, claiming the lives of an estimated 17.9 million people per year. Additionally, an increase in awareness about a healthy lifestyle is also practiced to increase the growth of the Lupin market during the forecast period 2021-2026.
Growing Consumption of Gluten-Free Food Products Owing to Rising Number of Celiac Disease
Increasing consumption of gluten-free food products owing to the rising prevalence of celiac disease increases the growth of the Lupin market. Lupin is gluten-free and it is widely used in making gluten-free products. Moreover, Celiac disease, commonly known as Gluten enteropathy, is an auto-immune illness. It is characterized by the sensitivity toward gluten, a protein found in grains such as rye, wheat, and barley. Celiac illness can only be treated by adhering to a gluten-free diet. To compensate for the shortages, more minerals, vitamins, and proteins should be added to the diet. According to, NIDDK, Celiac disease affects roughly one in every 133 Americans or about 1% of the population. Rising growth in the food and beverage industry increases the growth of the Lupin Market during the forecast period 2021-2026.
Lupin Market Challenges
Side Effects of Lupin and Lack of Awareness About Lupin Products
The major factor that is set to impede the growth of the Lupin market is the side effects of lupin which includes toxic ingredients that produce dry mouth, hazy eyesight, low blood pressure, nausea, and weakness as adverse effects. They can have a variety of negative effects, including breathing difficulties and death. Another factor that hampers the growth of the market is a lack of awareness about this product and the emergence of a food allergy.
Lupin Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Lupin Market. In 2020, the Lupin Market share is consolidated by the top ten players present in the market. The Lupin Market, top 10 companies include:
1. Barentz International
2. Coorow Foods
3. Frank Food Products
4. Golden West Foods Pty Ltd
5. Lupina
6. Lupins For Life
7. Soja Austia
8. Terrena
9. Eagle Foods Australia
10. Lupin Foods Australia
Development:
In September 2020, Puris Foods expanded its larger facility in Dawson, Minnesota to increase its product portfolio of Lupin Flour. The product involves processing including de-hulling and milling.
Key Takeaways
Europe dominated the Lupin Market in 2020 owing to increasing awareness about healthy lifestyles among the people in this region. The Lupin Market scope for different regions will be provided in the final report.
The growing demand for protein products are set to aid the market growth of the Lupin Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Lupin Market report.
Side effects of Lupin in the market are poised to create hurdles for the Lupin Market.
Relevant Titles:
A. Gluten Free Food Market
https://www.industryarc.com/Report/7438/gluten-free-food-market.html
B. Guar Gum Market
https://www.industryarc.com/Report/7483/guar-gum-market.html
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