Lentil Market - Growth, Trends, And Forecasts (2023 - 2028)

The Global Lentil market is projected to witness a CAGR of 4.1% during the forecast period. According to the Food and Agriculture Organisation (FAO), the consumption of pulses has steadily decreased in the recent past. This is majorly due to the increasing disposable income in various countries which led to the change in the diet of an individual. People are preferring other protein sources such as dairy and meat products over the vegetable proteins in spite of the rising disposable income. However, the population growth rate exceeding the agricultural production rate in a few countries has led to a consistent growth pulses trade including lentils. Canada, India, Australia, Turkey, and United States are some of the major producers of lentils across the globe. However, the production of lentil has decreased in worldwide due to the poor prices and bad weather conditions. Statistics, projected the area under lentil cultivation to declined 8.32% in 2020 when compared to the previous crop seasons 2017.

Lentil Market Trends

Major Producers of Lentils

According to FAO, the global production of lentils was 7130.7 thousand metric tons in 2017, which has decreased by 8.32% and reached 6537.5 thousand metric tons in 2020. Canada and India are the major producers of lentils, which accounted for 43.8% and 18.0%, respectively; in 2020. The global lentil production is decreasing due to various reasons such as poor weather conditions, reducing demand, and so on. However, a few major producers such as Canada, Australia, and the United States have witnessed 20.39%, 46.3%, and 37.5% growth in 2020 when compared to 2019. However, the production of India Lentils has decreased for the current crop season 2020 due to farmers shift in other crops, pandemic impact and weather conditions.

India is a major importer of Lentils

India has imported around 1,061,305 metric tons of lentils in 2020, which was valued at USD 580.8 million in the same period. Canada, Australia, United Arab Emirates and the United States are the major exporters of lentils to India. Canada accounted for 81.5% of the import market value, followed by Australia and the United Arab Emirates, respectively; in 2020. The import of lentils by the country was fluctuating due to the dynamic supply of lentils in the country. The import of lentils by India has increased due to the poor harvest in the crop season 2020-2021. However, the government of India has projects the import of pulses to fall by 50% which might also have a negative impact over the lentils import in the upcoming crop season 2021-2022.

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