Lentil Market

The global lentil market is experiencing an upward consumption trend driven by growing demand worldwide. Market performance is forecasted to expand with a CAGR of +3.6% in volume and +5.5% in value from 2022 to 2030, reaching 10M tons and $9.8B respectively by the end of 2030. The top consumer of lentils is India, with significant growth in consumption volume and value over the years. Lentil production and exports have also increased, with Canada being the largest exporter. Overall, the market is expected to see steady growth in the coming years.

Market Forecast

Driven by increasing demand for lentils worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.6% for the period from 2022 to 2030, which is projected to bring the market volume to 10M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.5% for the period from 2022 to 2030, which is projected to bring the market value to $9.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Lentil

In 2022, approx. 7.6M tons of lentils were consumed worldwide; with an increase of 2.9% against the previous year. The total consumption volume increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak volume of 8.2M tons. From 2018 to 2022, the growth of the global consumption failed to regain momentum.

The global lentil market revenue amounted to $6.4B in 2022, growing by 6.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at $6.9B in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The country with the largest volume of lentil consumption was India (1.9M tons), comprising approx. 25% of total volume. Moreover, lentil consumption in India exceeded the figures recorded by the second-largest consumer, Australia (841K tons), twofold. The third position in this ranking was taken by Bangladesh (712K tons), with a 9.4% share.

In India, lentil consumption expanded at an average annual rate of +2.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Australia (+4.8% per year) and Bangladesh (+10.9% per year).

In value terms, India ($2B) led the market, alone. The second position in the ranking was held by Bangladesh ($522M). It was followed by Nepal.

From 2012 to 2022, the average annual growth rate of value in India stood at +2.2%. The remaining consuming countries recorded the following average annual rates of market growth: Bangladesh (+11.7% per year) and Nepal (+5.7% per year).

The countries with the highest levels of lentil per capita consumption in 2022 were Australia (32 kg per person), the United Arab Emirates (32 kg per person) and Canada (12 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Russia (with a CAGR of +28.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Lentil

In 2022, global lentil production expanded significantly to 7.8M tons, surging by 7.1% on the year before. The total output volume increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 17% against the previous year. Over the period under review, global production hit record highs at 7.9M tons in 2020; however, from 2021 to 2022, production remained at a lower figure. The general positive trend in terms output was largely conditioned by a tangible increase of the harvested area and a slight expansion in yield figures.

In value terms, lentil production dropped modestly to $5B in 2022 estimated in export price. Over the period under review, the total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +29.2% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 32% against the previous year. Global production peaked at $5.9B in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Canada (2.3M tons), Australia (1.9M tons) and India (1.3M tons), with a combined 70% share of global production. Turkey, Russia, Nepal, the United States, Bangladesh, China, Kazakhstan and Ethiopia lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Kazakhstan (with a CAGR of +41.1%), while production for the other global leaders experienced more modest paces of growth.

Yield

The global average lentil yield stood at 1.4 tons per ha in 2022, growing by 3.1% against the previous year. The yield figure increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 19% against the previous year. Over the period under review, the average lentil yield reached the maximum level at 1.6 tons per ha in 2020; however, from 2021 to 2022, the yield failed to regain momentum.

Harvested Area

The global lentil harvested area rose to 5.6M ha in 2022, increasing by 3.9% on the year before. The harvested area increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 15%. The global harvested area peaked at 5.8M ha in 2017; however, from 2018 to 2022, the harvested area failed to regain momentum.

Imports

World Imports of Lentil

In 2022, supplies from abroad of lentils decreased by -1.2% to 3.8M tons, falling for the second year in a row after two years of growth. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -20.7% against 2020 indices. The growth pace was the most rapid in 2019 when imports increased by 29%. Global imports peaked at 4.8M tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, lentil imports skyrocketed to $3.5B in 2022. Overall, imports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2020 with an increase of 51% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports By Country

The countries with the highest levels of lentil imports in 2022 were India (657K tons), Bangladesh (521K tons), Turkey (508K tons) and the United Arab Emirates (364K tons), together accounting for 54% of total import. Pakistan (144K tons), Iraq (125K tons), Sri Lanka (119K tons), Sudan (105K tons), Egypt (87K tons), the United States (86K tons), Algeria (83K tons), Iran (80K tons) and Colombia (77K tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the United Arab Emirates (with a CAGR of +14.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, India ($543M), Turkey ($415M) and Bangladesh ($395M) appeared to be the countries with the highest levels of imports in 2022, with a combined 39% share of global imports. The United Arab Emirates, Pakistan, Egypt, Iraq, Sudan, Iran, Algeria, the United States, Colombia and Sri Lanka lagged somewhat behind, together accounting for a further 35%.

In terms of the main importing countries, the United Arab Emirates, with a CAGR of +18.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average lentil import price stood at $925 per ton in 2022, surging by 23% against the previous year. Overall, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lentil import price increased by +83.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 26%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Egypt ($1,295 per ton), while Sri Lanka ($678 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+5.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Lentil

Global lentil exports rose sharply to 4M tons in 2022, with an increase of 6.8% compared with the previous year. Overall, total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -21.5% against 2020 indices. The pace of growth was the most pronounced in 2013 when exports increased by 35%. Over the period under review, the global exports reached the peak figure at 5.1M tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, lentil exports skyrocketed to $3.5B in 2022. In general, exports enjoyed prominent growth. The growth pace was the most rapid in 2020 with an increase of 63% against the previous year. The global exports peaked in 2022 and are likely to see steady growth in years to come.

Exports By Country

Canada represented the key exporting country with an export of around 1.9M tons, which amounted to 48% of total exports. Australia (1,045K tons) held a 26% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (13%). The following exporters - the United States (170K tons), Kazakhstan (68K tons), Russia (68K tons) and India (65K tons) - together made up 9.3% of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +55.6%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Canada ($1.6B) remains the largest lentil supplier worldwide, comprising 47% of global exports. The second position in the ranking was held by Australia ($752M), with a 22% share of global exports. It was followed by Turkey, with a 15% share.

In Canada, lentil exports expanded at an average annual rate of +8.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Australia (+13.8% per year) and Turkey (+12.8% per year).

Export Prices By Country

The average lentil export price stood at $874 per ton in 2022, surging by 18% against the previous year. Overall, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lentil export price increased by +86.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 29%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to continue growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Turkey ($1,076 per ton) and India ($1,061 per ton), while Australia ($719 per ton) and Kazakhstan ($759 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform