Authored By: Sarah
10 Sep 2024

Latest News: Legumes Market Size to grow by USD 4708.2 million between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Legumes Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges. In the global snacking market, legumes such as chickpeas, peas, and beans have gained significant traction due to their health benefits. Chickpeas, in particular, are a popular choice for consumers seeking nutritious and convenient snacking options. These versatile legumes can be easily prepared at home by adding spices or purchased as ready-to-eat products. In various regions, chickpeas are transformed into unique and flavorful snacks. For instance, in Turkey, they are salted, spiced with cloves, and roasted, known as Lebleb. In South Asia, especially India, roasted chickpeas are often sold by street vendors alongside roasted corn, offering a traditional and delicious snacking experience. These vendors prepare fresh chickpeas in traditional woks and serve them with coriander and lemon, enhancing their taste and appeal.

Key Highlights

Growth Projections

The global legumes market  size is estimated to grow by USD 4708.2 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 5.39% during the forecast period. Growing consumption due to health benefits is driving market growth, with a trend towards high consumption of legume-based snacking items  However, availability of various alternatives  poses a challenge.Key market players include Adani Group, AGT Food and Ingredients Inc., Archer Daniels Midland Co., B and G Foods Inc., Bean Growers Australia Ltd., BroadGrain Commodities Inc., Bush Brothers and Co., Co operative Group Ltd., Conagra Brands Inc., Dunnes Stores, Eden Foods Inc., Faribault Foods Inc., Fujian Chenggong Fruits and Vegetables Food Co. Ltd., Galdisa S.A. de C.V, General Mills Inc., Goya Foods Inc., Mitsubishi Corp., Nomad Foods Ltd., NutriAsia Inc., and Teasdale Foods Inc..

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Major Findings

  • The legumes market is experiencing a significant growth trend, driven primarily by the increasing consumer awareness and preference for healthier food options. Legumes, which include beans, lentils, and peas, are rich in essential nutrients such as protein, fiber, iron, and folate. Their consumption is linked to numerous health benefits, including improved digestion, reduced risk of chronic diseases, and enhanced energy levels. As more consumers prioritize their health, the demand for legumes is expected to continue rising.

  • The legumes market is experiencing a significant surge due to the increasing awareness and demand for healthy dietary options. Consumers are increasingly turning to legumes as a source of protein and fiber, making them a staple in many households. These nutrient-dense foods offer numerous health benefits, including improved digestion, reduced inflammation, and lower risk of chronic diseases. As a result, the market for legumes is projected to grow steadily in the coming years, with a focus on sustainably produced and ethically sourced options.

  • Legumes, a rich source of protein and essential nutrients, are widely consumed due to their versatility and health benefits. The market for legumes offers an array of alternatives, including beans, lentils, peas, and chickpeas. These options cater to various dietary preferences and culinary traditions. Consumers can choose from canned, dried, or frozen varieties, ensuring availability throughout the year. The legumes market continues to expand as more people recognize their nutritional value and convenience.

  • The legumes market faces a significant challenge in terms of competitiveness due to various factors. These include the perception of legumes as being less flavorful or less nutritious compared to other protein sources, limited marketing efforts, and a lack of innovation in production and processing techniques. Additionally, the seasonality of legume production and the volatility of prices further hinder the market's competitiveness. To address these issues, stakeholders must collaborate to improve the perception of legumes, invest in research and development, and implement sustainable farming practices to ensure a consistent supply and stable prices.

Market Research Overview

The global packaged foods and meats market encompasses food processing vendors engaged in eliminating microorganisms and extending product shelf life. According to Technavio, the market's size is determined by the consolidated revenue generated by the participating industry players. This market segment does not include food processing equipment manufacturers. Additionally, it excludes producers of packaged alcoholic and non-alcoholic beverages, including mineral waters. Factors driving the expansion of the global packaged foods and meats market include the health benefits linked to the consumption of minimally processed foods, such as vegetables, which are rich in essential nutrients like potassium, dietary fiber, folate (folic acid), vitamin A, and vitamin C.

The Legumes Market is experiencing significant growth, fueled by the Growing consumption due to health benefits. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Regional Insights

The legumes market represents a significant business opportunity due to increasing consumer awareness towards healthier food options. With a rich nutritional profile, including proteins, fiber, and essential minerals, legumes are gaining popularity as a sustainable and cost-effective alternative to animal-derived proteins. Key players in this market include Archer Daniels Midland Company, Bunge Limited, and Cargill Incorporated, who are investing in research and development to expand their product offerings and cater to evolving consumer preferences.

Research Analysis Overview

Legumes, including beans, lentils, peas, and chickpeas, have gained significant attention in recent years due to their numerous health and environmental benefits. These nutrient-dense foods are rich in protein, fiber, and essential micronutrients, making them an excellent choice for plant-based diets and vegetarianism. Moreover, legumes offer environmental benefits through carbon sequestration, nitrogen fixation, and sustainable practices such as regenerative farming. They help improve soil health by increasing organic matter and reducing the need for synthetic fertilizers. Legumes also provide natural pest management and disease control, making them a preferred choice for farmers looking to reduce their reliance on chemicals. In addition, legume-based snacks, pasta, and novel products offer delicious and convenient options for those following healthy diets. Furthermore, legumes have been linked to numerous health benefits, including reducing the risk of obesity, gastrointestinal disease, diabetes, and other chronic conditions. Food safety is ensured through organic and plant-based production methods. As meat substitutes, legumes offer a sustainable and affordable alternative to animal protein sources. With the increasing awareness of the health and environmental benefits of plant-based diets, the demand for legumes and legume-based products is expected to grow. In conclusion, legumes offer a range of benefits, from nutritional richness and health advantages to environmental sustainability and food security. By incorporating more legumes into our meals, we can improve our health, reduce our carbon footprint, and contribute to a more sustainable food system.

About Technavio                                                                        

Technavio is a global market research company offering comprehensive reports and insights on various industries. Our research helps businesses make informed decisions by providing actionable data and trends. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions. Technavio is one of the most influential market research and advisory firms in the world. We work with business and technology leaders to provide cutting-edge market research and insights to companies. 

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