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Lupin Market Size - Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2024 – 2032

  • Report ID: GMI1633

Lupin Market Size

Lupin Market Size is expected to grow at a decent pace between 2024 to 2032, driven by R&D investments aimed at enhancing crop yield, improving quality, and refining processing capabilities. This heightened focus on innovation and diversification is driving the development of new lupin-based products to meet the evolving preferences of consumers and the demands of various industries.
 

Lupin Market Trends

There is a wider inclination for plant-based protein sources. For instance, a survey by the Good Food Institute in 2023, over 70% of consumers perceive plant-based protein as healthy. Lupin, with its high protein content and sustainable cultivation practices, is gaining traction as a versatile ingredient in various food products, including plant-based meats, dairy alternatives, and snacks. Additionally, there is increasing innovation in lupin-based product development, with manufacturers introducing new formulations and flavors to cater to evolving consumer preferences. A rise in R&D activities focused on enhancing the nutritional profile and functional properties of lupin ingredients, will further shape the industry outlook in the coming years.
 

Lupin Market Analysis

Flour form segment is set to gain traction by 2032, as lupin is gaining prominence as a gluten-free alternative in the food industry. Its excellent nutritional profile, including high protein and fiber content, makes it suitable for use in a wide range of bakery and culinary applications. The increasing prevalence of gluten intolerance and celiac disease among consumers has led to a surge in demand for lupin flour-based products, driving the market growth.
 

The lupin from the poultry & livestock application segment share is epected to grow rapidly through 2032, as lupin-based feed ingredients have nutritional benefits and provide cost-effectiveness. Lupin meal, a by-product of lupin seed processing, is rich in protein and essential amino acids, making it an ideal ingredient for animal feed formulations. Farmers and livestock producers are incorporating lupin meal into feed formulations to enhance the growth, health, and productivity of poultry and livestock.  
 

Asia Pacific lupin market will grow substantially from 2024 to 2032, driven by factors such as favorable climatic conditions for cultivation, increasing adoption of plant-based diets, and growing awareness about the nutritional benefits of lupin. The versatility of the product in various applications such as food, animal feed, and pharmaceuticals is expanding its potential, attracting investments across diverse industries. Moreover, government initiatives promoting sustainable agriculture and the expansion of lupin cultivation are further fueling industry growth in the region.
 

Lupin Market Share

Prominent participants in the lupin industry are:

  • Golden West Foods Pty Ltd.
  • Inveja SAS - Lup'Ingredients
  • Soja Austria
  • Barentz International BV
  • Coorow Seeds
  • Stevens Seeds NZ Ltd
     

Many of these companies are focusing on mergers and acquisitions to capture higher market share in a relatively short time.
 

Lupin Industry News

  • In December 2022, Barentz International BV, a global life science ingredients distributor, announced the acquisition of Natural, a leading distributor of premium functional and herbal ingredient solutions to nutraceuticals industry in France and the rest of Europe.
     
  • In February 2022, Plant B, a food tech startup based in Germany, revealed plans to introduce a liquid egg alternative made from sweet lupin, that was to be launched in April.

What Information does this report contain?

Historical data coverage: 2018 to 2023; Growth Projections: 2024 to 2032.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.
Authors: Kiran Pulidindi

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