Increasing Consumption of Gluten-Free Food Products Owing to the Rising Prevalence of Celiac Disease Increases the Growth of the Lupin Market.
HYDERABAD, TELANGANA, INDIA, September 30, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Lupin Market size was estimated at $303 million in 2020, growing at a CAGR of 3.5% during the forecast period 2021-2026. Lupin, also known as lupini beans, are yellow legumes and herbaceous perennial plants species that have been used in Mediterranean cooking for centuries. Lupin is a classic Mediterranean food that is used to manufacture Lupin flour and other products. Lupin is present in a variety of foods, including pasta, noodles, sauces, beverages, and meat-based products such as burgers and sausages, as well as baked goods such as bread, pastries, and pies. Lupin can be found in foods that aren’t made with soy, gluten, or genetically modified components. Lupin seeds are low in fat, high in protein, gluten-free, isoflavones, and high in soluble fiber and antioxidants. The protein level of Lupin, on the other hand, varies according to the type of cultivation and degree of de-hulling. Lupin is a legume that forms rhizobium root nodule symbiosis and lupin contains some toxic alkaloids. Increasing demand for lupin in the food and beverage industry is one of the major factors driving the growth of the market. The increasing trend of vegan is set to further enhance the overall market development of the Lupin Market for the period 2021-2026. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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1. 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.
2. The growing demand for protein products are set to aid the market growth of the Lupin Market report.
3. Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Lupin Market report.
4. Side effects of Lupin in the market are poised to create hurdles for the Lupin Market.
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1. 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.
2. 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.
3. 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.
The top 5 players in the Lupin industry are –
1. Barentz International
2. Coorow Foods
3. Frank Food Products
4. Golden West Foods Pty Ltd
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