Westford, USA,, April 27, 2023 (GLOBE NEWSWIRE) -- SkyQuest projects that the Legumes market will attain a value of USD 17.25 billion by 2030, with a CAGR of 5.33% over the forecast period (2022-2030). The market for legumes is expanding quickly, propelled by factors such as rising demand for plant-based protein, health advantages, the acceptance of vegan and vegetarian diets, new products and sustainable agricultural methods. Furthermore, the growing need for healthy and environmentally friendly food options, legumes allow businesses to create unique and inventive products such as pasta, snacks and meat substitutes and access the market for sustainably cultivated legumes. Additionally, the market will enable firms to help global initiatives enhance food security and nutrition and meet the rising need for plant-based protein.
According to SkyQuest, peas, beans and lentils are examples of legumes. Lentils offer UV radiation protection due to their high polyphenol content. Additionally, they are a good source of iron and protein. Especially when combined with lentils, beans make a great source of protein. They help reduce the risk of cancer and possess antioxidant qualities. When ingested frequently, green peas strengthen the immune system and assist in controlling blood sugar levels. Legumes also constitute to be a major source of nutrition and diet. The majority of legumes can be kept for a long time because they are non-perishable. These elements are boosting the market for legumes. Furthermore, many people are switching to plant-based foods and items over animal products which is anticipated to drive the market.
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Beans, chickpeas and other legumes are regarded as natural foods. They are typically offered as snacks because they are easy to prepare. The factor motivating consumers to adopt nutrient-dense meals is the rising prevalence of ailments, including diabetes, obesity, and digestive issues. The market is anticipated to grow in the coming years since legumes help reduce the severity of various health issues.
Prominent Players in the Legumes Market
- B&G Foods
- The Archer Daniels Midland Company
- Conagra Brands Inc
- Eden Foods Inc
- Dunns Limited
- Olam International
- General Mills Inc
- Galdisa USA
- Nomad Foods
- Puris Proteins, LLC
- ILRAMA AGRO LLC
- Nefis Bulgar Ltd.
- BIMARKET LLC
- AGT Foods USA
- Anchor Ingredients Co, LLC
Peas Segment is Expected to Grow Due to Rising High Protein and Calorie Content
The peas segment will be the second-largest segment accounting for more than 30% of the global market. It gained popularity among the consumers due to its high protein and calorie content. According to research, 170 g of green peas has 62 g of calories, 4 g fibre and protein particularly, all of which can assist in regulating blood sugar levels. In addition, the combination of minerals including calcium, magnesium and potassium, found in green peas helps lower the risk of heart disease. The countries that produce the driest peas are Canada, China, Russia, India, Ukraine, and Australia. Mexico, Canada, Turkey, Pakistan, Iran, and India are the main producing countries of chickpeas.
North America is expected to experience the fastest growth in the next few years. Processed beans and pulses have grown in popularity among Americans over the past several years. Consumers in the United States and Canada are incorporating these foods into their meals due to their affordability, simplicity of preparation, and nutritional value. The way people eat is changing as the majority of American population are turning to veganism. The market will also grow significantly as the population perception improves for health awareness.
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Lentils Segment is Anticipated to Grow Due to its High Nutritional Value
Lentils is anticipated to grow the market during the forecast period. A sizeable amount of the world's production and consumption of legumes is made up of the popular legumes category known as lentils. A variety of edible legume known as lentils is widely grown and consumed throughout the world, but is most popular in Asia, the Middle East, and the Mediterranean. Lentils are a well-liked option for plant-based diets since they are a great source of protein, fibre, and other vitamins and minerals. They are a common dish in many cultures since they are readily available, affordable, and simple to make.
Asia Pacific led the global market. China and India are the two countries that import legumes on a considerable scale. Approximately 50% of the items are sourced from Canada. People are looking for more nutrient-dense and healthy food options due to increased food safety and health concerns. Chinese consumers tend to favour more upscale cuisine goods. Chinese shoppers can choose from a few different types of raw beans given by businesses such as Dalian Taiji Trade Co. Ltd. It is projected that the rising acceptance of and dietary inclusion of plant proteins would fuel demand.
A comprehensive analysis of the major players in the Legumes market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Legumes Market
- The United Nations declared the International Year of Pulses in 2022 to increase public awareness of the importance of pulses and other legumes in promoting healthy diets and sustainable food production.
- Tyson Foods announced the launch of Legume Craft, a range of plant-based meat replacements. The goods were available in both food service and retail settings. Additionally, in order to grow its Legumes division, Headspace recently announced the acquisition of Sayana, a business focused on mental health and wellness.
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Key Questions Answered in Legumes Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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