Market Size of Lentil Industry
| Study Period | 2024 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.10 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
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Lentil Market Analysis
The lentil market is projected to witness a CAGR of 4.1% during the forecast period.
- Lentils are a rich source of protein and complex carbohydrates and constitute B-complex vitamins and minerals like iron, magnesium, phosphorus, potassium, zinc, copper, and manganese. Lentils are unusually high in polyphenols, which are powerful phytonutrients that perform a host of positive functions in the body. They are also a rich source of fiber, a nutrient sorely lacking in the modern industrialized diet.
- According to the USDA, lentil production in the United States grew 50% during the last decade, increasing from 240,000 tons in 2011 to 376,000 tons in 2020. Lentils in 2020 were grown primarily in Montana 72%, North Dakota 15%, Washington 8%, and Idaho 5%.
- Lentils provide a variety of health benefits and play a role in helping people reduce or manage diabetes, obesity, cardiovascular diseases, and some kinds of cancer. Polyphenols (a type of antioxidant) and lectins in lentils contain anticancer properties, which may help decrease tumor growth.
- The production of lentils more than doubled from the past ten years to 790,000 ton in 2020, while exports rose 90% to USD 350 million to meet demand. Australia is the second largest exporter, with more than 13% of 2020 global exports. The exports to Bangladesh 39%, India 23%, and Sri Lanka 17% account for more than three-quarters of the trade. Australia holds a more than 50% market share in Bangladesh, where exports grew to USD 134 million in 2020. Year-to-date exports through June are more than 30% higher as exports to markets such as Egypt and Sri Lanka more than offset lower exports to India.
