10 April 2019, The global legumes market was valued at USD 44.9 billion in 2017 and expected to reach USD 75.8 billion in 2025 at a CAGR of 6.77% from 2017 to 2025. Rising consumer awareness concerning food benefits coupled with health concerns has resulted in a shift to healthy alternatives. Legumes are considered to be economical and healthy food ingredients that form a part of a balanced diet.
Owing to the versatile health benefits associated with legumes, consumers are making this ingredient a mandatory inclusion in their regular meals. These grains contain high dietary fiber and soluble fiber that can help to control and lower blood cholesterol levels. Presence of vitamin B, calcium, iron, magnesium, zinc and phosphorous in legumes assist in managing the sugar levels in diabetic patients worldwide.
Beans held the largest share in the global market in 2017. The beans market value was valued USD 4.32 billion in 2017 and is projected to reach a market size of over USD 6.44 billion by 2025 with a CAGR of around 5.1%. The demand for dry and edible beans is increasing in the U.S., China and India market.
China is the largest importer of bean products. Dry beans are the most consumed legume grain across the globe, and more than 30% of global consumers prefer dry beans over others. While dry peas, chickpeas, dry broad beans, cowpeas, lentils, pulses, among others represent other favorite legumes. More than 20% and 10% population prefer consuming dry peas and chickpeas.
Europe has a stable production of dried beans. In 2017, around 200,000 tons of dried and 600,000 tons of broad beans were the main types produced in Europe. Ireland, Lithuania, Poland, Latvia, Romania, and Greece represent the major European countries with significant production of beans.
Peas market is estimated to be the second largest segment in 2017, thereby contributing more than 25% of the global market. It became popular among consumers due to its high protein and calorie value. It is observed that 170 gm green peas contain 62 gm calorie, 4 gm fiber and 4 gm protein that can help to control blood sugar level. Green peas contain the proper amount of heart-healthy minerals, such as calcium, magnesium, and potassium which can decrease the risk of heart disease. Dry peas are majorly produced in Canada, China, Russia, India, Ukraine, and Australia. India, Turkey, Pakistan, Iran, Mexico, and Canada are the top Chickpea producers.
The global nuts market is expected to grow at a notable pace. It is estimated to grow at a CAGR of 3.7% from 2017 to 2025. It has been observed that Chinese consumers prefer to have salty snacks. People perceived nuts as healthy and tasty snack alternatives. Nuts are estimated to be the fastest growing segment in China market.
Asia Pacific is estimated to be the largest legumes market, thereby accounting for more than 30.0% of the global market and is expected to grow at a CAGR of 7.84% from 2017 to 2025. Australia, China, and India are considered to be the significant consumers due to increasing vegan population and rapid adoption of healthy food habits.
In 2017, around 20% of the U.S. population consumed legumes as a part of the plant-based proteins. The U.S. is the largest market and is growing at a significant pace. Increasing consumer awareness of healthy diet is driving market growth. The U.S. market is anticipated to reach USD 15.61 billion by 2025 with a CAGR of more than 7.0%.
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Major companies operating in this market are Archer Daniels Midland Company, B&G Foods, Inc., Conagra Brands Inc., EDEN FOODS, General Mills Inc., Dunns (Long Sutton) Limited, Olam International, Galdisa USA, and others. Leading food and beverage companies are signing up a partnership agreement and acquiring small companies to enter into the new market. For instance, B&G Foods Inc. acquired New York Style and Old London brands from Chipita America to manufacturer peas based snacks.
Furthermore, rigorous research and development activities focused on the introduction of a host of products. For instance, Portugal Foods in collaboration with Universidade Catolica Portuguesa (UCP) have initiated the project TRUE under which more than 27,000 new products were introduced worldwide.
UK represented one of the most active countries in Europe where the legume-based product launches accounted for around 19% of the total products launched across Europe. Meat substitutes, bean-based snacks, and pasta accounted for the lucrative product subcategories with the incorporation of the legume grains across the globe.
Hexa Research has segmented the global legumes market report based on type and region:-
Segmentation by Type
• Beans
• Peas
• Nuts
• Others
Segmentation by Region
• North America
• U.S.
• Europe
• Spain
• Asia Pacific
• China
• India
• Middle East & Africa
• Central & South America
• Brazil
Key Players Analyzed
• Archer Daniels Midland Company
• B&G Foods, Inc.
• Conagra Brands Inc.
• EDEN FOODS
• General Mills Inc.
• Dunns (Long Sutton) Limited
• Olam International
• Galdisa USA
• Nomad Foods
• Puris
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