Lupin Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1633
Lupin Market size is anticipated to witness a decent growth in the forecast period. In spite of the natural resources being under pressure, there is a high demand of affordable protein which will drive the product industry. The changing dietary trends and the increasing number of vegans have accelerated the market growth. People have become more informed about the constituents of the food products which is likely to increase the demand of the product due to its rich protein content.
The product can grow in infertile soil and can bring a change in the barren profile, which can be an opportunity for countries having infertile lands. Since, the product is a good alternative to soy protein, many food manufacturers are looking forward to use the crop which will propel the growth of the market. The product is cost-effective which will further add to the demand of the product. Lupines have become increasingly popular as a cash crop. Innovations in food technology and launching of new food products will positively impact the growth of the market.
However, the product market may decline due to the people having allergic reaction to the product. In 2006, the European Commission stated to use food labels indicating the presence of the product.
Lupin, commonly referred as lupine or Lupinus is a genus of flowering plant in the legumes family, Fabaceae. Lupin beans have a high nutritional value and contain phytoestrogens and a low percentage of trypsin inhibitors. Lupines are sustainable crops which fix nitrogen into the soil. The gluten-free seeds are rich in antioxidants, amino acids and dietary fiber and have low starch content. The product contains secondary compounds such as isoflavones and toxic alkaloids which include sparteine and lupinine. Product comprising of these elements are not preferred for food grade products.
Some varieties of the product are termed as sweet lupins as they contain smaller number of toxic alkaloids than bitter lupins. The beans of the crop contain a certain amount of lutein, carotenoids, beta carotene, tocopherols and zeaxanthin. The crop can easily thrive in cool and moist climate. Advanced breeding techniques are required for producing varieties of the crop for sustainable cultivation. Studies have claimed the anti-diabetic potential of lupin.
The product market can be segmented on the basis of form, application and region. Based on form, the product market can be bifurcated into seeds, flakes, protein concentrates and flour. Based on application, the product market can be segmented into dietary supplements, food and poultry & livestock feed. In food segment, lupins are used in confectionery products, bakery products, sauces, vegan sausages, non-dairy milk drinks, etc.
Based on region, the market can be segmented into Middle East & Africa, North America, Latin America, Europe and Asia Pacific. The product has high consumption in Middle East and North Africa. Majority of the world’s production of lupin seeds comes from Australia. The product is widely consumed in Latin America and Mediterranean basin. Production in Europe is insufficient to guarantee a continuous supply to the food industry. Production of the crop is high in Chile and is likely to grow at a fast pace. Countries like Morocco, Spain and Italy are the potential regions for the growth of the product market.
Some of the global market players manufacturing lupin products are Barentz International BV, Golden West Foods Pty Ltd., Coorow Seeds, Inveja SAS - Lup'Ingredients, Soja Austria, All About Bread, Lopino Foods, Inc., Stevens Seeds NZ Ltd., Eagle Foods Australia, Lupin Foods Australia, etc.
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