Lentil Protein vs. Other Plant Proteins: Market Comparisons and Trends
The rise of new and upcoming niche trends across the food & beverage sectors, particularly over the past decade, has led to the development of several new food products and ingredients. In the past few years, plant-based proteins have managed to garner immense popularity around the world due to their potential benefits over meat-based proteins and other nutritional benefits. Growing consumer awareness of the advantages of consuming plant-based proteins has significantly increased the demand for plant-based proteins, including pea, soy, and lentils. The lentil protein market has witnessed considerable movement over the past decade, owing to evolving consumer behavior as more food brands launch plant-based protein products.
Mounting environmental concerns and rising regulatory pressure have compelled food manufacturers to explore the potential of plant-based proteins. Additionally, the exponential rise in the vegan population around the world, particularly in developed regions such as North America and Europe, is another major factor expected to boost the lentil protein market during the assessment period. These factors, coupled with the growing adoption of social media marketing, have set the global lentil protein market on course to attain a market value of approximately US$ 181 million by the end of 2030.
Augmenting Consumer Demand for Plant-based Products to Aid Market Growth
Over the past decade, demographic changes coupled with a growing consumer inclination toward a healthier lifestyle have played a key role in boosting interest in lentil proteins. As the plant-based eating trend continues to gain momentum globally, the demand for lentil proteins is on the rise, a factor expected to propel the growth of the lentil protein market during the assessment period. Moreover, as more consumers, mainly in developed regions, lean toward a sustainable diet, the consumption of lentil protein has witnessed considerable growth-a trend projected to continue over the upcoming years.
Lentils have emerged as an ideal source of various nutrients such as iron, folate, lean protein, and dietary fiber, among others. The demand is expected to grow consistently during the assessment period. Additionally, current observations indicate a decline in consumer affinity toward meat-based proteins in several regions due to growing awareness of the benefits of veganism and vegetarianism-a leading factor projected to drive the lentil protein market during the assessment period.
𝗖𝗹𝗶𝗰𝗸 𝗵𝗲𝗿𝗲 𝘁𝗼 𝘃𝗶𝗲𝘄 𝘁𝗵𝗲 𝗰𝗼𝗺𝗽𝗿𝗲𝗵𝗲𝗻𝘀𝗶𝘃𝗲 𝗿𝗲𝗽𝗼𝗿𝘁 𝗶𝗻 𝗳𝘂𝗹𝗹 𝗱𝗲𝘁𝗮𝗶𝗹 - https://www.transparencymarketresearch.com/lentil-protein-market.html
Lentil Protein Market Segmentation
The global lentil protein market can be segmented by product type, nature, end use, processing type, and geography. The key product types include protein isolates, protein concentrates, and flour, with protein isolates leading the segment, accounting for approximately 46.7% of the market value in 2020. The conventional nature segment dominates the market, making up about 95.5% of the market value.
Based on end use, the market is classified into food processing, animal feed, nutraceuticals, sports nutrition, and infant nutrition, with food processing holding the leading market share of 70.5% in 2020. In terms of processing type, the dry processing segment holds a dominant market share as manufacturers and consumers incorporate and adopt various technologies for the production of lentil proteins.
Geographically, Europe holds the major market share, approximately 40%, followed by North America with around 33.3% of the total market share.
Trends in the Lentil Protein Market
Alternative Proteins Gaining Share
Plant-based protein is gaining share and is expected to remain strong during the forecast period. Despite rising concerns about sustainability and animal welfare, the demand for traditional meat remains high due to factors such as the rising middle class and the lack of economic options that offer the same taste as meat. However, the alternative proteins or meat substitute market is expected to gain share in this large industry. Various research and development activities are being conducted for meat alternative production. Start-ups like Beyond Meat and Impossible Foods have driven significant changes in the meat industry. These changes have also prompted meat giants like Tyson Foods and food and beverage giants like Nestlé to enter the alternative proteins segment.
Veganism and Vegetarianism Lifestyle Boosting Botanicals Trend
Rising incidences of diabetes, obesity, and heart-related disorders have increased health awareness among consumers, leading them to buy healthier food products with reduced amounts of salt, sugar, calories, and fats. Religious and ethical issues have supported the class of vegans, with scientific studies suggesting excessive meat consumption, mainly red meat, can increase the risks of cardiovascular disorders. This has stimulated the acceptance of vegan and vegetarian diets. Health-conscious buyers are looking for botanical ingredients with supplementary health benefits over various synthetic ingredients. The increasing demand for plant-based products is likely to drive the growth of botanical food products globally.
Strategies for Market Growth
Key manufacturers in the global lentil protein market are introducing innovative technology-based products with clear information about their production technology, sourcing, and health benefits. Companies are also expected to expand their product portfolios to cater to the growing demand for plant-based proteins from athletes and sportsmen around the world. For instance, in August 2019, Parabel USA Inc., a leading producer of plant-based protein ingredients from water lentils, launched a neutral-colored protein ingredient that is free from allergens and an ideal substitute for meat-based proteins.
COVID-19 Pandemic Impact
The ongoing COVID-19 pandemic has caused significant changes across the food & beverage sector. Brands are exploring different strategies to mitigate losses induced by the pandemic. Innovations and research in the plant-based protein sphere have seen considerable growth, as more consumers lean toward plant-based proteins due to the uncertainty and safety concerns around meat consumption. Pea, soy, and lentil proteins have emerged as ideal replacements for meat-based proteins amid the pandemic. While offline sales may dip due to lockdown measures, companies are focusing on increasing online sales through engaging social media campaigns.
Analysts' Viewpoint
The lentil protein market is expected to grow at a moderate CAGR of 4.8% during the forecast period. The market growth is driven by various factors, including the rise in vegan and non-meat-eating populations worldwide, ongoing innovations in meat alternatives, growing consumer awareness of the benefits of plant-based proteins, and increased investments in research and development. Market players should focus on impactful social media campaigns and expand their product portfolios to cater to the growing demand for plant-based proteins during the assessment period.
About Lentil Protein Market
The global market value for the lentil protein market was approximately US$ 112 million in 2020, according to Transparency Market Research (TMR). The market is anticipated to reach around US$ 181 million by 2030, at a CAGR of 4.8%. The market is driven by the rising demand for ready-to-eat (RTE) and gluten-free food products, as well as plant-based protein alternatives.
Key Market Players
Leading key manufacturers in the global lentil protein market include:
• Archer Daniels Midland Company
• Cargill Inc.
• Parabel USA Inc.
• Henry Broch Foods
• Biorefinery Solutions
• AGT Food and Ingredients
• Ingredion Inc.
• AMCO Proteins
• BI Nutraceuticals, Inc.
• GEMEF Industries
• Vestkorn Milling AS
Browse More Reports by TMR:
Cosmetic Shea Butter Market - https://www.transparencymarketresearch.com/cosmetic-shea-butter-market.html
Dehydrated Vegetables Market - https://www.transparencymarketresearch.com/dehydrated-vegetables-market.html
About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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