DUBAI, U.A.E. , Aug. 18, 2020 /PRNewswire/ -- According to a new market study by Future Market Insights (FMI), the lentil protein market is forecasted to expand at a CAGR of 4.9% between 2020 and 2030.
The report suggests that the surging demand for allergen-free natural products is expected to act as the major growth driver to the market. As per the statistics of the Food and Drug Administration (FDA) and the Centers for Disease Control & Prevention (CDC), around 32 million people in the U.S. representing around 10% of the population have some form of food allergy.
The prevalence of food allergies is asserting consumers to seek allergen-free products, thus bestowing a revenue opportunity of lentil protein which finds significant adoption in the production of allergen-free food products. With over 170 food products being linked to allergic reactions, the growing demand for allergen-free food will continue to propel the demand for lentil protein.
Owing to its strong nutritional profile, lentil protein is finding adoption among athletes and fitness enthusiasts as a post-workout food source. On these lines, the demand for lentil protein has witnessed a substantial uptick in the sports nutrition sector, thus further fuelling the growth of the market.
"Backed by growing demand for high quality and nutritious protein ingredients, lentil protein has become an enriching source of proteins for livestock, and this will continue to complement the demand for the years to come.", opines FMI analyst.
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Lentil Protein Market - Key Takeaways
Lentil Protein Market - Key Trends
Lentil Protein Market -Regional Analysis
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Lentil Protein Market - Competitive Landscape
Some of the key players studied in the report include Archer Daniels Midland Company, Cargill Inc., Parabel USA Inc., Henry Broch Foods., Ingredion Inc., BI Nutraceuticals, Inc., Biorefinery Solutions, GEMEF Industries, Vestkorn Milling AS, and AGT Food and Ingredients. Market players are focusing on expanding their product portfolio and production capacity of plant-based protein ingredients to tap on revenue opportunities.
Lentil Protein Market - Taxonomy
Middle East & Africa
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Get Valuable Insights into the Lentil Protein Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global lentil protein market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the lentil protein market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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