Lentil Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Lentil Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global lentil market is projected to witness a CAGR of 3.5% during the forecast period (2020-2025). According to the Food and Agriculture Organisation (FAO), the consumption of pulses has steadily decreased in the recent past. This is majorly due to the increasing disposable income in various countries which led to the change in the diet of an individual. People are preferring other protein sources such as dairy and meat products over the vegetable proteins in spite of the rising disposable income. However, the population growth rate exceeding the agricultural production rate in a few countries has led to a consistent growth pulses trade including lentils. Canada, India, United States, Turkey, and Australia are some of the major producers of lentils across the globe. However, the production of lentil has decreased in Canada due to the poor prices and bad weather conditions. Statistics Canada, projected the area under lentil cultivation to decline by 9.6% in 2019-2020 when compared to the previous crop season 2018-2019.

Key Market TrendsMajor Producers of Lentils

According to FAO, the global production of lentils was 6,522.6 thousand metric tons in 2016, which has decreased by 2.9% and reached 6,333.4 thousand metric tons in 2018. Canda and India are the major producers of lentils, which accounted for 33.0% and 25.6%, respectively; in 2018. The global lentil production is decreasing due to various reasons such as poor weather conditions, reducing demand, and so on. However, a few major producers such as India, the United States, and Australia have witnessed 32.8%, 12.4%, and 16.7% growth in 2018 when compared to 2017. However, the production of Australian red Lentils has decreased for the current crop season 2019-2020 due to drought and bushfires.

India is a major importer of Lentils

India has imported around 705,773.0 metric tons of lentils in 2019, which was valued at USD 298,538.0 thousand in the same period. Canada, Australia, and the United States are the major exporters of lentils to India. Canada accounted for 77.3% of the import market value, followed by Australia and the United States, respectively; in 2019. The import of lentils by the country was fluctuating due to the dynamic supply of lentils in the country. The import of lentils by India has increased due to the poor harvest in the crop season 2019-2020. However, the government of India has projects the import of pulses to fall by 50% which might also have a negative impact over the lentils import in the upcoming crop season 2020-2021.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.