The Global Legumes Market is projected to register a CAGR of 3.32% from 2019 to 2024 and reach a value of USD 104.31 billion, by 2024. Legumes such as beans are rich in folate, which plays an important role in reducing fatigue and heart palpitations. Lentils are a good source of dietary fibers, they help lower cholesterol levels. Lentils are considered good for the overall health of bones, as they contain high amount of calcium. Peas are known to be an immune booster, as they are rich in vitamin C. These health benefits offered by legumes are driving the growth of the global legumes market. The increase in demand for legumes by the vegan population and rise in health consciousness among the population are anticipated to drive the market growth.
The global legumes market has been segmented on the basis of
source, product type, end use, and region.
Based on source, the global legumes market has been divided
into beans, lentils, peas, and others. The lentils segment is anticipated to
constitute a dominant share of the market due to large-scale consumption in
Asia-Pacific. The beans segment is projected to expand at the highest CAGR
during the review period due to increasing demand from health-conscious
consumers and rising use in the food processing industry.
Regional Analysis
By region, the global legumes market has been categorized as
North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to dominate the global legumes market
due to rapid developments in the food processing indutry in the region. The
market in North America is expected to account a significant market share
during the review period owing to high awareness among consumers about the
health benefits associated with the consumption of legumes. Growing vegan
population in Europe fuels the market growth in the region.
The market in the rest of the world is expected to grow at a
steady rate due to the rise in the demand for high-protein food.
Key Players
Olam International (Singapore), General Mills Inc
(US), Galdisa USA (US), Nomad Foods (UK), Puris Proteins, LLC (US), ILRAMA AGRO
LLC (Uzbekistan), Nefis Bulgar Ltd. (Turkey), BIMARKET LLC (Ukraine), AGT Foods
USA (US), Anchor Ingredients Co, LLC (US), B&G Foods (US), The Archer
Daniels Midland Company (US), Conagra Brands Inc (US), Eden Foods Inc (US), and
Dunns Limited (UK) are some of the major key players in the
global legumes market.
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