What is the global market size of Legumes Market?

Global Legumes Market size was valued at USD 7.52 billion in 2021 and is poised to grow from USD 8.09 billion in 2022 to USD 17.25 billion by 2030, growing at a CAGR of 5.3% in the forecast period (2023-2030).

Legumes Market Size, Share, Growth Analysis, By Source(Beans, Lentils, Peas, Chickpeas), By Product Type(Whole, Flour, Oil, Others), By End User(Household, Commercial (Food Service, Food Processing)), By Region - Industry Forecast 2024-2031

Q: Which region accounted for the largest share in Global Legumes Market?

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.

Report ID: SQMIG30B2021 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 93 | Figures: 76

Legumes Market Dynamics

Legumes Market Drivers

Growing demand in plant-based protein

There is a growing demand for legumes as a source of protein due to growing knowledge of the health benefits of plant-based diets. A great source of protein, fiber, and other necessary nutrients, legumes can be used as a replacement for animal-based protein.

Increasing acceptance of vegetarian and vegan diets

The demand for legumes has been driven by the increasing popularity of vegan and vegetarian diets. Legumes are an essential part of vegan and vegetarian diets since they provide an excellent source of protein and act as a nutritious alternative for foods that contain meat.

Legumes Market Restraints

Cost variations

Legumes' prices are subject to shifts due to factors such as the weather and worldwide supply and demand. In in addition to making it difficult for businesses to plan and manage their operations, this might create consumer price volatility.

Lack of availability and awareness

Despite the fact that they are popular food in some cultures, legumes may be less well-known or available in other areas. In these regions, the market's growth may be restricted by a lack of availability and awareness.

Legumes Market Report Snapshots

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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).

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 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. 'Archer Daniels Midland Company', 'Bunge Limited', 'Cargill, Inc.', 'Olam International', 'Glencore Agriculture Limited', 'Louis Dreyfus Company B.V.', 'Marubeni Corporation', 'DOW Agrosciences LLC', 'Syngenta AG', 'Monsanto Company', 'DuPont de Nemours, Inc.', 'Limagrain', 'Land O'Lakes, Inc.', 'United Phosphorus Limited', 'Bayer CropScience AG', 'BASF SE', 'The Mosaic Company', 'Agrium Inc.', 'Yara International ASA', 'PotashCorp'

There is a growing demand for legumes as a source of protein due to growing knowledge of the health benefits of plant-based diets. A great source of protein, fiber, and other necessary nutrients, legumes can be used as a replacement for animal-based protein.

Market expansion for organic legumes: As consumers become more aware of the impacts of food production on the environment and the benefits of consuming organic foods, there is an increasing demand for organic legumes. In the coming future, a significant rise in demand is expected for organic legumes.

Asia Pacific dominated the 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.

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Legumes Market Size, Share, Growth Analysis, By Source(Beans, Lentils, Peas, Chickpeas), By Product Type(Whole, Flour, Oil, Others), By End User(Household, Commercial (Food Service, Food Processing)), By Region - Industry Forecast 2024-2031

Legumes Market Dynamics

Legumes Market Report Snapshots

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