New York, US, April 06, 2023 (GLOBE NEWSWIRE) -- Legumes Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Legumes Market Research Report: Information by Source, Product Type, End Use, and Region- Forecast till 2030" ,the market will achieve USD 17.25 billion by 2030 at an 5.3%,CAGR.
Peas, lentils, and beans are examples of legumes. Polyphenols, which shield the skin from damaging ultraviolet (UV) rays, are abundant in lentils. They are also an excellent source of iron and protein. A good source of protein is found in beans, especially when they are combined with lentils. They aid in reducing the risk of cancer and contain antioxidant effects. When routinely taken, green peas strengthen the immune system and aid with blood sugar regulation. Most nations on earth can afford legumes, which are a good source of the daily necessary nourishment. Since most legumes are non-perishable, they can be kept in storage for a long time.
The market for legumes is expanding as a result of several factors. Also, a large number of customers are switching from foods and food products made from animals to those made from plants, which is expected to fuel market expansion.
Beans and other legumes are high in folate, which is crucial for lowering fatigue and heart palpitations. Because they are a good source of nutritional fibre, lentils also aid in lowering cholesterol. Because they contain a significant quantity of calcium, lentils are thought to be beneficial for the overall health of bones. Because of their high vitamin C content, peas are well known for boosting immunity. The global market for legumes is expanding as a result of the health advantages that legumes provide. The growing vegan population's desire for legumes and the improvement in health consciousness.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | 2030: 17.25 Billion |
| CAGR | 5.3% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| 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 Market Drivers | Legumes have antioxidant properties and help lower the risk of cancer |
Key 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)
- Puris Proteins, LLC (US)
- ILRAMA AGRO LLC (Uzbekistan)
- Nefis Bulgar Ltd. (Turkey)
- BIMARKET LLC (Ukraine)
- AGT Foods USA (US)
- Anchor Ingredients Co, LLC (US)
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Segmentation
Based on the source, product type, end use, and geography, the market has been divided into segments.
Depending on the source, the market for legumes has been segmented into segments for beans, lentils, peas, and others. Due to widespread usage in Asia-Pacific, it is predicted that the lentils sector would account for a significant portion of the market. Due to rising demand from customers who are more concerned with their health and rising use in the food processing industry, beans are projected to occur the highest CAGR growth during the review period.
The market for legumes has been divided into whole, flour, oil, and other product categories based on product type. Because to the significant demand from domestic users, the flour sector is predicted to hold the greatest market share.
Due to rising demand from the food processing industries, the entire industry is expected to have the highest CAGR growth during the course of the study.
The global market for legumes has been divided into two categories based on end uses: domestic and commercial. Due to the substantial usage of legumes in the food service and food processing industries, it is predicted that the commercial segment would hold a bigger market share. Due to rising consumer awareness of the health benefits, the household segment is predicted to grow at a faster CAGR during the forecast period.
Regional Analysis
Four major regions have been identified within the global market: North America, Europe, Asia-Pacific, and the rest of the world. The US, Canada, and Mexico have each been given their own portion of the North American market.
The European market for legumes has been divided into the United Kingdom, Germany, France, Italy, Spain, and the rest of the continent. China, India, Japan, Australia, New Zealand, and the remainder of Asia-Pacific make up the market in that region. South America, the Middle East, and Africa make up the market in the rest of the world.
The Asia-Pacific region is anticipated to control the global market. Due to the constantly growing population driving up food consumption, the market in the area is predicted to grow at the fastest CAGR throughout the forecast period. Also, lentils are consumed widely in nations like India, Australia, and Nepal, which is anticipated to accelerate the growth of the market.
Due to the rising demand for foods high in protein and fibre, North America is anticipated to have a sizable market share over the study period. In addition, lentil and bean consumption is particularly high in Canada and Brazil, respectively. This is expected to propel the expansion of the global and North American markets for legumes.
Because of the rising demand for legumes in South American nations like Chile and Argentina, the market in the rest of the world is anticipated to expand at a consistent Rate.
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