Lupin Market size is estimated to be 284 Million in 2019, growing at a CAGR of 3.6% during the forecast period 2020-2025. Lupin proteins are extracted from hexane deoiled lupin. The protein product type E comprises high molecular weight proteins which are separated using alkaline extraction and acid precipitation procedures. Growing population along with the rising demand of Lupin in food and beverage industry owing the preparation of various beverages such as smoothies and milkshakes is triggering its market growth. Apart, from this the use of Lupin in Cosmetic industry is also fueling its market growth owing to the presence of carotenoids and Vitamin E which protects the skin the external aggression. Therefore, these are the key benefits driving the Lupin market in the upcoming years. Furthermore, Lupin provides several health benefits such as suppress appetite, reduce the glycaemic load of carbohydrates-based foods, reduce blood pressure and improve glucose metabolism.
Lupin Market Segment Analysis – By Product Type
By Product Type, the Lupin is segmented into Lupin Flour, Protein Isolates Protein Concentrates and Others. Lupin Flour segment held the largest market share in the year 2019 owing to the wide usage of it in beverages as well as in nutritional supplements. Moreover, lupin flour is used in baking bread, cakes, pancakes as a thicker in soups and as a breading for frying foods. Also, Protein concentrates industry is projected to witness growth at fastest CAGR of 3.9% in forecast period 2020-2025. Protein concentrates are usually produced out of flaked and defatted seeds of meals, the residue of the oil extraction. Besides this, the innovative products offered by the key players is another factor contributing to its market growth. For instance, Frank Foods provides protein concentrate, enzyme active flour, toasted, flour, bits, grits and fibers for use in bakery application, batters, plant-based meat products and nutritional pills and shakes.
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Lupin Market Segment Analysis – By Application
By Application, the Lupin is segmented into Food Industry, Pharmaceutical Industry, Cosmetic Industry and Animal Feed Industry. Food Industry segment held the largest market share in the year 2019 owing to the wide usage of Lupin in beverages as well as in food products. Also, Animal feed industry is projected to witness growth at fastest CAGR of 3.8% in forecast period 2020-2025. Lupins are widely used as a source of protein and energy in the livestock feed owing to their high protein content makes them a valuable resource for monogastric animals. Moreover, the use of lupins in animal feed industry offers several advantages as they are rich in energy and protein and can be effectively replace soyabean in ruminant feed.
Lupin Market Segment Analysis – Geography
Europe contributed to the largest market share of 39% owing to the presence of large dominant players in the region including Barentz International and Frank Food Products. Increasing demand of Lupin among consumers owing to its health benefits have highly supported its regional demand. APAC Lupin market is another dominant market owing to the presence of significant players like Corrow Seeds.
Lupin Market Drivers
Rising Demand of Lupin in Cosmetic Industry
Rising Demand of Lupin in Cosmetic Industry is a significant factor driving the Lupin market during the forecast period 2020-2025. Moreover, lupin helps to renew skins outer layer, reduce the depth of wrinkles & stimulate the production of collagen and elastin, giving the skin younger, smoother look and diminishes fine wrinkles, stimulate wound healing and reduce dark spots. Therefore, these are the key benefits propelling the demand of the Lupin in the future.
Increasing Use of Lupin in Beverage Industry
Increasing use of Lupin in beverage industry is a major driving the Lupin Market during the forecast period 2020-2025. Moreover, the rising demand of plant-based protein drink among consumers is contributing to its market growth. In addition, the increasing health benefits offered by Lupin coupled with the rising use of Lupin in food and beverage industry is driving its market growth in the upcoming years.
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Lupin Market Challenges
Side-effects of Lupin
Side-effects of Lupin serves as a major setback for the growth of the Lupin Market during the forecast period 2020-2025. Moreover, lupin contains bitter toxic ingredients that causes side effects such as dry mouth, blurry vision, low blood pressure, nausea, weakness which in turn is restraining its market during the forecast period 2020-2025.
Lupin Market Industry Outlook
Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in Lupin Market. Lupin Market top 10 Barentz International, Coorow Foods, Frank Food Products, Golden West Foods Pty Ltd, Lupina, Lupins For Life, Soja Austia, Terrena, LLC and Ugaoo.
January 2016: Prolupin, a German player, launched lupin drinks after researchers found a way to produce purely herbal lupin protein isolate from the plant’s seeds. The product aimed to target both health conscious as well as vegan customer through various offering including desserts, ice creams, lupin drinks and yoghurt alternatives in natural and chocolate flavors.
Lupin Flour segment held the largest market share in the year 2019 owing to the wide usage of it in beverages as well as in nutritional supplements.
Food Industry segment held the largest market share in the year 2019 owing to the wide usage of Lupin in beverages as well as in food products.
Europe contributed to the largest market share of 39% owing to the presence of large dominant players in the region including Barentz International and Frank Food Products.
Rising Demand of Lupin in Cosmetic Industry is a significant factor driving the Lupin market during the forecast period 2020-2025.
Related Reports :
A. Cosmetic Ingredients Market
B. Protein Hydrolysates Market
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