Global Lupin Market 2018-2022
Lupin beans are a genus of a flowering plant in the legumes family called Fabaceae. These beans have high nutritional value and contain phytoestrogens and a low percentage of trypsin inhibitors. Some of the types of lupins include blue lupin, white lupin, and yellow lupin, which are widely used as livestock and poultry feed.Technavio’s analysts forecast the global lupin market to grow at a CAGR of 4.49% during the period 2018-2022.Covered in this report The report covers the present scenario and the growth prospects of the global lupin market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Lupin Market 2018-2022
Technavio recognizes the following companies as the key players in the global lupin market: Barentz, Coorow Seeds, Golden West Foods, Lupina, SOJA AUSTRIA, and Terrena.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is rising awareness of vegan diet. The growing awareness of vegan diet will drive the growth of the lupin market till the end of the forecast period. The growing awareness and adoption of vegan diets will drive the demand for lupin beans. Due to the growing ethical concern towards animals, environment, and better health, consumers are opting vegan diets.”
According to the report, one driver in the market is health benefits of lupins. Lupin beans provide high level of protein, fiber, and the amino acid called arginine. This lowers blood pressure, cholesterol, and trigs, and blood sugar levels. Additionally, lupin beans improve bowel health by acting as pre-biotics.
Further, the report states that one challenge in the market is wide availability of substitute products. one of the challenges that manufacturers of lupin market face is the availability of substitute products. Being predominantly a protein ingredient, lupins have numerous substitutes like soy and egg proteins, which lead the protein ingredients market, followed by when protein and casein.
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