Lentil Protein Market to Reach US$ 181 Mn by 2030
A recent study published by Transparency Market Research on the global lentil protein market covers global industry analysis and opportunity assessment for 2020-2030. Complete revenue generated from the global lentil protein market is valued at ~US$ 112 Mn in 2020 that is anticipated to expand at a CAGR of 4.8%, to reach ~US$ 181 Mn by 2030.
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Immense Market Potential for Sports Nutrition
There is an increasing consumer awareness for lentil protein among health-conscious end users, especially those consumers who consume sports nutrition products on a daily basis. Lentil protein has gained traction in the market for being better and healthier than conventional proteins. Moreover, several consumers are switching to a more leisure lifestyle, and focusing on boosting their health performance. Lentil protein has a positive perception among consumers regarding health benefits, and this a major factor driving the market in regions such as the U.S., the U.K., Brazil, Germany, and Japan. Hence, manufacturers have opportunities for developing new products with lentil protein, which are the vanguard of the plant protein vertical in the nutrition industry.
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Protein Fortification and Standardization Propelling Market
Protein fortification is the supplementation of regular food products with texturized vegetable protein giving the product a ‘high-protein’ label. Customer preference for these types of food products is a result of several factors, including increasing incidences of lifestyle-related disorders, along with weight management. High protein diet support the health of consumers. Bakery products and snacks comprise high-texturized vegetable proteins and are gaining traction among consumers.
For instance, Archer Daniels Midland Company, a full-line producer of lentil proteins, offers textured lentil proteins for protein fortification. When it is hydrated, it offers a fibrous meat-like texture with significant moisture retention, making it suitable for meat and vegetarian applications. In its dry form, it offers unique textures that characterize many of the most popular bars and snacks.
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Impact of COVID-19: Lentil Protein Market
The crisis across the globe caused due to the COVID-19 pandemic has significantly changed the dynamics of global market. This pandemic was started in China and transmitted all around the globe. Due to the outbreak of the coronavirus, the government has enforced partial/complete lockdown to stop the blowout of the COVID-19, which has adversely disrupted the supply chain of various lentil protein producers. The uncertainty caused due to the coronavirus has disturbed the global trade (import & export) of lentil protein as a result of the closing/sealing of international borders.
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