Anticipated to expand at a CAGR of 4.8%, to reach ~$ 181 million by 2030.
Pune based Transparency Market Research (TMR) has recently published a study on the global lentil protein market, covering global industry analysis and opportunity assessment for 2020-2030. The current revenue generated from the global lentil protein market is valued at ~$ 112 million in 2020 that is anticipated to expand at a CAGR of 4.8%, to reach ~$ 181 million by 2030.
Lentil protein has gained traction in the market for being better and healthier than conventional proteins. Lentil protein has a positive perception among consumers regarding health benefits, and this a major factor driving the market in regions such as the U.S., the U.K., Brazil, Germany, and Japan. Hence, manufacturers have opportunities for developing new products with lentil protein, which are the vanguard of the plant protein vertical in the nutrition industry.
Furthermore, due to the outbreak of the coronavirus, the government has enforced partial/complete lockdown to stop the blowout of the COVID-19, which has adversely disrupted the supply chain of various lentil protein producers. The uncertainty caused due to the coronavirus has disturbed the global trade (import & export) of lentil protein as a result of the closing/sealing of international borders.