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Lupin Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI1633

Lupin Market size is anticipated to witness healthy growth during 2023 to 2032, driven by the globally prevalent healthy living trend. Lupin, commonly known as Lupinus or lupine, is a genus of plants in the legume family called Fabaceae. A lupin bean is a powerhouse of fiber, protein, and essential vitamins, which makes it popular amongst health-conscious consumers.

Lupin flakes are widely used in plant-based and vegan diets owing to their high nutritional value. Rapidly expanding vegan population and changing dietary trends are bolstering the demand for lupins on a global level. 

Apart from being used in human food, lupin can also be used as an alternative protein source in animal feed for poultry. In ruminant feed especially, lupins can replace soybean as they are excellent sources of protein and energy. Lupin seeds can also be used as feed in aquaculture and livestock rearing.

Despite a broad scope for product adoption, allergic reactions induced by lupin in some people may create barriers for lupin market growth. Since 2006, the European Commission has directed food producers to use food labels that indicate the presence of lupin in the food products. 

The food, and poultry & livestock feed segment is expected to show tremendous growth by 2032. Traditionally, lupin beans are extensively used in Mediterranean cuisine and used to make ingredients such as lupin protein, flour, and others. They are used to prepare gluten-free products and find widescale use in baked goods as a result.

Based on form, lupin market from the flour segment will see massive growth through 2032, led by its growing usage in the food and beverages sector. Lupin flour is often used in the preparation of keto-friendly biscuits, cakes, bread, pasta, and a multitude of pastry items. It can also be used as a thickening agent in sauces and can also blends well with smoothies and juices, which affords it a diverse application portfolio.  

Europe lupin market will gain remarkable momentum during the forecast timeline, fueled primarily by the growing demand for healthy food and changing dietary habits. Countries such as Italy, Spain, and Morocco are likely to emerge as regions with highest potential for industry growth. Lupin ingredients are commonly used in many European cuisines, which is further adds to the product demand, fueling regional revenues. The strong presence of major industry players such as Soja Austria is also likely to contribute to regional expansion.  

Prominent participants operating across the lupin market are Golden West Foods Pty Ltd., Inveja SAS - Lup'Ingredients, Soja Austria, Barentz International BV, Coorow Seeds, and Stevens Seeds NZ Ltd. Many of these companies are focusing on mergers and acquisitions to capture higher market share is a relatively short amount of time. Citing an instance, 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. 

The acquisition is expected to strengthen Barentz’s dietary supplements portfolio while enabling its growth in nutraceuticals market. 

Impact of Russia-Ukraine war on lupin market

The Russia-Ukraine war has had a negative impact on lupin industry owing to disruptions to the region’s food and beverages sector supply chain. Both Russia and Ukraine are major cultivators of lupin and the conflict has virtually brought their agriculture sectors to a standstill, severely impacting production. While many world governments are working towards ending the war, the impact of their efforts are likely to take time to reflect on the global market scenario. 

What Information does this report contain?

Historical data coverage: 2018 to 2022; Growth Projections: 2023 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.

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