The global legumes market is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has released a new market research report on the global legumes market for the period 2019-2023. (Graphic: Business Wire)
Consumers are using legumes in crushed or powdered form for the preparation of various food items. Moreover, legumes are an affordable and non-perishable ingredient which offers high protein and essential vitamins. Consumers with specific dietary needs, such as athletes, prefer including legume-based food items in their diets to fulfill their nutritional requirements. Thus, the increasing application of legumes in various food products such as bakery and snack products will drive the global legumes market over the forecast period.
As per Technavio, the high consumption of legume-based snacking items will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global legumes market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global legumes market: High consumption of legume-based snacking items
Legumes such as chickpeas, peas, and beans are considered healthy snacking items. Moreover, chickpea is a healthy snack, which is simple to prepare at home by adding spices and is also readily available in the market as a ready-to-eat product. Similarly, pea-based snacking products are gaining popularity in the market as they are being offered in various flavors, including cheese and onion, sweet chili and lemon, and garlic and chive. Therefore, the launch of a variety of legume-based snack products will boost the overall global market during the forecast period.
“It is a primary concern among consumers to wean off high-calorie food and consume more low-calorie and low-fat food such as legumes. Increasing health consciousness and the need to avoid medical complications will drive the growth of the global legumes market during the forecast period,” says a senior analyst at Technavio.
Global legumes market: Segmentation analysis
This market research report segments the global legumes market by type (beans, peas, others) and geographical regions (South America, North America, APAC, MEA, Europe).
The South American region led the market in 2018, followed by North America, APAC, MEA, and Europe respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth. The consumption of legumes in this region is driven by countries such as Australia, China, India, and Japan.
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