USD 7.52 billion
Report ID:
SQMIG30B2021 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
93
|Figures:
76
Legumes Market size was valued at USD 7.52 billion in 2019 and is poised to grow from USD 8.09 billion in 2023 to USD 17.25 billion by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).
The legumes market is increasing fast, driven by factors such as rising interest in plant-based protein, health benefits, the popularity of vegan and vegetarian diets, the development of new products, sustainable farming practices, and government support. Legumes provide an opportunity for companies to develop novel and inventive goods, such as snacks, pasta, and meat substitutes, and to tap into the market for sustainably grown legumes, given the rising demand for healthy and sustainable food choices. Additionally, the market provides firms a chance to meet the growing need for plant-based protein and support international efforts to improve food security and nutrition.
Legumes such as beans, chickpeas, and peas are considered to be natural foods. They are simple to prepare and frequently served as snacks. The increasing number of diseases such diabetes, obesity, and digestive problems is the reason driving consumers to adopt nutritious meals. Due to the fact that legumes decrease and prevent the development of a number of health problems, the market is expected to expand over the upcoming years.
Companies are offering a wide range of products in the form of snacks in various regions based on the taste preferences of the consumer. For instance, Turkey eats a lot of spiced, salted, and roasted chickpea snacks. Chickpea-based snacks are supplied by companies such as Biena Snacks and Pulse Roasted Chickpeas. Indian companies sell roasted corn & chickpeas as a snack. It has been observed that the South Asian market has a significant demand for fresh chickpeas with coriander and lemon.
US Legumes Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 7.52 billion
Largest Segment
Household
Fastest Growth
Household
Growth Rate
5.3% CAGR
To get more reports on the above market click here to Buy The Report
Global Legumes Market is segmented based on Source, Product Type, End User and region. Based on Source, the market is segmented into Beans, Lentils, Peas, Chickpeas, Others. Based on Product Type, the market is segmented into Whole, Flour, Oil, Others. Based on End Use, the market is segmented into Household, Commercial (Food Service, Food Processing). Based on region the global market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Legumes Market Analysis by Source
Beans led the market for legumes in 2021, providing for more than 45.0% of all market sales. These legumes are growing in popularity as a consequence of their excellent nutritional value. Processed beans are very well enough by current consumers as they don't need to be cooked, peeled, or cleaned like the raw version of the product. White beans, navy beans, kidney beans, black-eyed beans, and pinto beans are the beans that are most commonly used in processed meals. In terms of bean preparations, baked beans are among the most popular since they are nutritionally and go well with a wide range of foods, like pasta, meat, and vegetables. Pork and beans and beans with tomato sauce are the two dishes made with canned beans that are most consumed worldwide.
Furthermore, due to their faster cooking process, chickpeas and lentils are expected to gain popularity in the coming years. Consumers are getting more and more used to both the dried form and the pre-cooked or ready-to-eat forms. An Italian cooking brand named NAPOLINA introduced a new range of four ready-to-eat pulses and grains 2021. Amongst the other products have been red kidney beans, cannellini beans, quinoa, and chickpeas. The company's maker claims that legumes are high in protein and low in fat, and suitable for the growing vegetarian and flexitarian trends.
To get detailed analysis on other segments, Request For Free Sample Report
Asia Pacific dominated the global market. The two largest countries importing legumes are China and India. Canada is the supplier of about 50% of the products. Individuals are seeking out more nutritionally and healthy food options as a result of rising food safety concerns and growing health concerns. Chinese customers are more likely to favor elevated and sophisticated food products. A few varieties of raw beans are provided to Chinese consumers by companies like Dalian Taiji Trade Co. Ltd. The demand is anticipated to be driven by the increasing acceptance and inclusion of plant proteins in regular diets.
The fastest growth is anticipated to occur in North America in the future years. Due to their ease, processed beans and pulses have become more popular among Americans during the past few years. Because of these items' cost, ease of preparation, and nutritional content, consumers in the United States and Canada are including them in their meals. People's eating habits are evolving. Vegetarianism and veganism are on the rise among American consumers. Moreover, the market will see a significant increase as health awareness among the population rises.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Legumes Market Drivers
Growing demand in plant-based protein
Increasing acceptance of vegetarian and vegan diets
Legumes Market Restraints
Cost variations
Lack of availability and awareness
Request Free Customization of this report to help us to meet your business objectives.
Several companies are focusing on growth strategies such product launches, product approvals, and others such as patents and events. Acquisitions, partnerships, and collaborations were a few of the growth plan actions that were visible in the market. These actions have made it feasible for market players to increase their clientele and revenue. With the growing demands for legumes on the global market, market players in the legumes sector are likely to enjoy prosperous growth opportunities in the future. The list of a few businesses that participate in the market for legumes is listed below.
Legumes Market Top Player’s Company Profiles
Legumes Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global Legumes market analysis, we found that one of the main factors driving the demand for legumes is the increasing use of legumes in a variety of applications. The popularity of legume-based flours including bean flour, lupin flour, and chickpea flour has increased as a result of rising consumer demand for grain-free flour. Due to its high energy and protein content, chickpea flour is consumed by people who cannot consume cereals. For clients with certain dietary needs, chick-pea flour is a gluten-free alternative. Fresh chickpeas with coriander and lemon are also offered. The introduction of new products in the snacking sector will increase the demand for legumes.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 7.52 billion |
Market size value in 2031 | USD 17.25 billion |
Growth Rate | 5.3% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
|
Historical Year | 2019 |
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Legumes Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Legumes Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Legumes Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Legumes Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONLegumes Market size was valued at USD 7.52 billion in 2019 and is poised to grow from USD 8.09 billion in 2023 to USD 17.25 billion by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Report ID: SQMIG30B2021