Market Trends of Lentil Industry
Growing Demand for Plant-based Diets Driving the Production of Lentils
Lentils are among the important legume crops grown worldwide for food and income. Farmers in countries like the United States, Canada, Australia, and India have been cultivating lentils for a very long time. It forms an important part of the diets and income sources of people in countries like the United States, Canada, Australia, and India. Dried lentils have a high content of fiber and proteins, which makes them ideal for people with diabetes and those who want to reduce their meat consumption. These reasons are among the major drivers for lentil production globally. According to FAOSTAT, the global production of lentils was 5,603.0 thousand metric tons in 2021, which increased and reached 6,655.8 thousand metric tons in 2022.
Over the years, there has been an increasing trend of veganism in Europe and the United States, spreading worldwide. Based on the most recent United Nations database, in 2022, there were about 80 million people worldwide who followed veganism. The number is increasing, fueling the demand for crops like lentils in the market as they are rich in several important micronutrients, including potassium, magnesium, folate, iron, and zinc, and are important protein sources in vegan diets.
Moreover, people are increasingly focused on plant-based diets, which has been the reason for the higher consumption of lentils. The negative impact of animal protein, which is associated with high cholesterol levels, fat, and calories, increases the risk of cardiac diseases, high blood sugar levels, and obesity, which is an important factor for people to turn toward vegan sources of protein. Therefore, the increasing adoption of plant-based protein, in line with growing awareness of the benefits offered by plant-based proteins among consumers in the market, is among the major factors spurring the production of lentils worldwide.
North America Holds the Largest Share of the Lentils Market
The surging production and consumption of lentils in North America, majorly in Canada and the United States, is driving the market's growth. Canada holds a significant share in the development of lentils across North America, owing to its increasing production and worldwide exports. The growing urban population, changing lifestyles, increasing household incomes, and changing consumer tastes and preferences are driving the demand for lentils in North America.
In North America, Canada is one of the largest lentil-producing countries due to its favorable climate and soil conditions, which provide an optimal environment for growing various types of lentils. According to FAOSTAT, the Canadian production of lentils was 1,593.6 thousand metric tons in 2021, which increased and reached 2,300.6 thousand metric tons in 2022. Furthermore, Canadian farmers are embracing advanced agricultural techniques and technologies associated with seed breeding, planting, and harvesting, which is contributing to higher yields and quality of lentils. Additionally, the imposition of supportive policies by the Government of Canada to encourage lentil production through research initiatives, subsidies, and favorable trade initiatives is boosting market growth.
