The new report by Expert Market Research titled, ‘Global Lentil Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global lentil market, assessing the market based on its segments like end - use and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
Historical CAGR (2016-2020): 5.8%
The exponentially rising population in developing countries is driving the lentils market as it continues to rely on pulses for protein diet. Also, the changing dietary habits among people, owing to the rise in health consciousness, where people are opting for nutritious, sustainable, and healthier foods. Canada currently represents the largest market for lentils and is its leading exporter. Alberta, a province in western Canada, produces two main market classes of lentil. The small red lentil and large green lentil which comprises of roughly 80% and 20% of the Alberta lentil acreage, respectively. Retail stores represent the biggest end use market followed by the snack food industry.
Industry Definition and Major Segments
Lentils are mini-sized legumes shaped like lens. They are similar to beans, chickpeas, soybeans and peanuts. Lentils are rich in protein and carbohydrates and a very good source of calcium, phosphorus, iron and B vitamins making them an important staple food all over the world.
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The different end - uses include:
Extraction Retail Store
Snack Food Industry
The major regional markets include:
United States of America
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Lentils offer many health benefits. Low in sodium and saturated fat and high in potassium, fiber, folate and polyphenols, that work as an antioxidant, lentils are nutritious dried pulse seed. In addition to their nutritional offers it is also found that lentils may improve cholesterol levels in people with diabetes and protect against breast cancer in women. Along the same lines, the increasing health consciousness and attentiveness towards the importance of gut health and overall immunity among people is driving the demand for lentils globally.
Lentils being a rich source of protein are also a staple food, especially for people in the developing countries where the poorer sections of the society rely on pulses for their intake of protein, invigorating its desirability further.
Key Market Players
The major players in the market are AGT Foods and Ingredients, Broadgrain, Simpson Seeds Inc, ADM Benson Quinn, Adani Wilmar Pvt. Ltd., Cargill Foods India, Eaternal Health & Organic Foods Pvt. Ltd., Victoria Foods Pvt. Ltd., Solen Food Industry and Trade Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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