Process for the production of lupin extracts from lupins, comprising: (a) extracting lupin meal or flour with water at alkaline pH; (a) separating an alkali soluble lupin protein containing component from an alkali insoluble fibrous component; (b) adjusting the pH of the protein component with acid to a pH between 3-5.0 to precipitate a food grade lupin protein extract (PF1), from an acid soluble lupin protein containing component, collecting said precipitated food grade lupin protein extract (PF1), adjusting the pH of the extract to pH 5-6.5 and thereafter drying the extract to give a proteinaceous extract (PF1); and optionally, (c) dehydrating the acid soluble lupin protein containing component to give a second food grade lupin protein extract (PF3); or (e) raising the pH of the acid soluble lupin protein component to pH 5.7, and optionally recovering a lupin protein isolate (PF2), followed by dehydrating the soluble lupin protein component to give a third food grade lupin protein fraction (PF3). Further, there is described a lupin hydrocolloid fraction and a lupin fibre fraction.